Private Equity 3 Days

Last updated: June 17, 2026, 8:30 AM ET

Deal Activity & Carve‑outs

Montagu agreed to acquire BMC Helix in a carve‑out that separates the agentic AI Service Ops platform from its parent, positioning the private‑equity sponsor to tap growing demand for AI‑driven IT operations. The transaction follows a wave of niche tech carve‑outs, including Gen Nx360 promoted Pratik Rajeevan to partner, signaling the firm’s continued focus on platform growth after more than ten platform and 30 add‑on deals. In the services space, Allvia added Smith Communication Partners to broaden its workforce‑services portfolio, a move that dovetails with the Helix acquisition by expanding both firms’ capabilities in AI‑enabled business processes.

Exit Landscape

& Recapitalisations H.I.G. exited its minority stake in The Bluebird Group as founders and Bertram Capital led a recapitalisation, underscoring the growing appetite for founder‑led roll‑ups in data‑driven commerce. A similar pattern emerged when CVC Catalyst secured a majority stake in prosthetics maker Willow Wood, giving the mid‑market arm of CVC a foothold in the high‑margin medical‑device niche. These exits illustrate how private equity is leveraging strategic recapitalisations to unlock value while allowing founders to retain operational control.

Credit Expansion & Fundraising

Blackstone launched Sable Pointe Credit Strategies to deepen its asset‑based lending platform, targeting the fast‑growing segment of secured corporate financing. The initiative arrives as Clearlake closed its eighth flagship fund at $14.8bn, confirming that large‑cap managers continue to attract capital despite a tougher fundraising environment. Together, the moves highlight a dual trend: expansion of private‑credit capacity and strong investor confidence in seasoned managers.

Large‑Scale Take‑Privates

LongRange Capital agreed to acquire Pizza Hut for $1.5bn (excluding the China franchise), marking one of the biggest restaurant‑sector take‑privates of the year and reflecting private equity’s willingness to pay premium multiples for distressed consumer brands. In Europe, EQT’s proposed take‑private of Intertek attracted £5bn in bank financing proposals, indicating robust lender competition for high‑profile industrial deals. Both transactions demonstrate that sponsors are still pursuing sizable leverage‑backed acquisitions despite elevated interest‑rate pressures.

Strategic Platform Acquisitions

Francisco Partners bought EfficientIP, a DNS, DHCP and IP address‑management security vendor, expanding the firm’s cyber‑infrastructure footprint as enterprises seek tighter network controls. Meanwhile, LGP acquired advisory firm Cumming Group from New Mountain, adding a consultancy with over 4,000 corporate clients to its portfolio and reinforcing the trend of private‑equity firms building end‑to‑end service platforms. These platform purchases aim to generate cross‑sell opportunities and operational synergies across the sponsors’ existing holdings.

Sector‑Focused Moves

Apax prepared its residential‑warranty platform Oncourse for sale as part of a broader portfolio reshuffle, while Lead Edge Capital took control of electric‑components platform Elektrik, a play that aligns with the growing demand for data‑center infrastructure components. In the health‑care arena, Renovus‑backed xFact bought govtech firm Stonewall to strengthen its public‑sector digital‑transformation suite, and Prime Radiant committed $50 m to biotech growth equity Cellares, marking the first investment of a newly formed healthcare‑focused advisory house. These deals underscore the continued specialization of private‑equity firms as they target high‑growth, technology‑enabled sub‑sectors.

Secondary Market & Portfolio Management

Abry closed a $780 m continuation fund for Centauri Health Solutions, allowing the sponsor to retain a top‑performing health‑care asset amid a competitive secondary market. Parallel to this, Argosy doubled its fund size with a $145 m raise, reflecting sustained investor appetite for smaller‑ticket secondary vehicles that can deploy capital quickly. The activity illustrates how sponsors are using continuation vehicles and expanded secondary funds to manage liquidity while preserving upside in mature portfolio companies.

Strategic Realignments

Jardine Matheson pivoted to a private‑equity‑style model with a $500 m buy‑back and asset sales, signaling a broader shift among conglomerates toward active investment strategies. In the UK, L Catterton explored a stake in fitness brand Hyrox, positioning the LVMH‑backed firm to capture growth in the fast‑growing extreme‑fitness market. These realignments indicate that both legacy corporations and traditional sponsors are recalibrating capital allocation to focus on high‑growth, niche opportunities.