Private Equity 3 Days

Last updated: June 17, 2026, 2:34 PM ET

Major Acquisitions & Platform Deals

A Blackstone-led consortium alongside Apollo and KKR has agreed to take control of customer-experience software group Medallia from Thoma Bravo, with the seller absorbing approximately $5B in losses. In a separate platform expansion, TPG acquired Waste Eliminator and Liberty Waste Solutions from Allied Industrial Partners, broadening its environmental services footprint. Meanwhile, Arcline agreed to take Astro Nova private at $29 per share in a deal valued at roughly $272M enterprise value, and Montagu will acquire BMC Helix from BMC Software in a carveout transaction for the agentic AI Service Ops platform.

Fundraising Momentum & Capital Deployments

General Atlantic entered early talks to lead a financing round exceeding $2B for Kling AI, the video generation business of China's Kuaishou Technology, marking one of the largest potential investments in the AI space. Clearlake closed its eighth flagship fund at $14.8B, underscoring investor preference for established managers amid challenging fundraising conditions. The firm also backed Quest Software's acquisition of cybersecurity firm Anetac, expanding its data management portfolio. In infrastructure, CPP Investments committed up to $715M to Ctrl S Datacenters, deepening exposure to India's rapidly expanding data centre market.

Private Credit & Secondaries Activity

Singapore's GIC neared a $2B private credit sale tapping the booming secondaries market, while Abry Partners closed an oversubscribed $780M continuation vehicle for Centauri Health Solutions, enabling retention of a key healthcare asset. Flexstone agreed to acquire Glouston Capital Partners, creating a combined platform managing over $15B in assets with complementary US geographic focus. Morgan Stanley exited Brazos Delaware II for $1.6B at an 8x EBITDA multiple based on projected 2027 earnings, and Argosy doubled its fund size with a $145M raise targeting small-deal secondaries opportunities between $100K and $10M.

Healthcare & Life Sciences Expansion

Belmont Medical Technologies acquired health tech firm Arcos Inc, strengthening its fluid-resuscitation and patient-temperature management capabilities. Prime Radiant Partners made its first investment committing $50M in growth equity to Cellares, a life sciences company. H.I.G. Capital completed the sale of Celerion, a clinical pharmacology contract research organisation, to THL Partners for $1.8B. In fintech, Chronograph secured over $140M from Sixth Street Growth, with existing investors Summit Partners, Carlyle Alp Invest, Nasdaq Ventures and Sidekick Partners maintaining minority positions.

Technology & AI Investments

Three former Palantir engineers raised $60M from Index Ventures, Iconiq Capital and SAP for an agentic operating system venture. Cathay Capital acquired a majority stake in product data Saa S firm Equadis, which serves over 600 customers including Procter & Gamble, Unilever and Nestlé. Francisco Partners acquired Efficient IP, a provider of DNS, DHCP and IP address management security software. Teleo-backed Flatirons acquired enterprise AI platform Scope AR, enhancing capabilities for aerospace, aviation and defense clients.

Restaurant & Consumer Markets

Long Range Capital agreed to acquire Pizza Hut from Yum! Brands for $2.7B, taking on one of the world's most recognizable but struggling restaurant chains. L Catterton lined up a €900M bond to fund buybacks, marking the German footwear maker Birkenstock's first bond sale in more than five years. L Catterton entered exclusive talks for a stake in Hyrox, the extreme fitness brand, according to Sky News reporting.

Defense Tech & Special Situations

CVC Catalyst will acquire a majority stake in Willow Wood, a leading US prosthetic limbs manufacturer, from Blue Sea. Elliott Investment Management built a nearly 5% stake in Bunzl and is pressing the company to launch significant buybacks and review its structure. ASML indicated interest in making more Mistral-style startup bets, following the Dutch chip equipment giant's venture capital strategy. UK defence prime BAE Systems invested €50M in VCs Lakestar and Expeditions, signaling continued defence technology backing.

Infrastructure & Industrial Services

New Mountain invested in power engineering firm Commonwealth Associates, supporting growth amid increasing electricity demand and power infrastructure investment. Littlejohn-backed Ardurra acquired Kelly Engineers, building on expansion into the Northeast market. Kian-backed Spatco snapped up Discovery Tank Testing and Tank Wizards, expanding turnkey infrastructure services for fueling, environmental and EV charging markets. CAI Capital-backed GreenArrow acquired electrical contracting firm HBC Company, broadening transportation infrastructure services.

Cross-Border & Strategic Moves

Jardine Matheson pivoted toward a private equity model with a $500M buyback and asset sales, recasting the 194-year-old Hong Kong conglomerate as an active investor. Urs Wietlisbach split his family office in a succession move, separating from the Swiss private equity firm Partners Group where he was a co-founder. EQT's potential take-private of Intertek drew approximately £5B ($6. in bank financing proposals for the British product-testing group.

Market Commentary & Trends

Fund managers face extended fundraising timelines with investors scrutinising every stage of the process more closely, requiring general partners to keep limited partners engaged throughout prolonged capital calls. Clearlake's $14.8B raise and focus on AI assets reflects how established managers continue attracting capital despite market headwinds. The evergreen secondaries market has doubled in size, with institutional investors including CalPERS adopting more sophisticated approaches to alternative investments under new leadership.