Private Equity 3 Days

Last updated: June 18, 2026, 5:30 AM ET

Private Equity Fundraising and Strategy

Clearlake Capital closed its eighth flagship fund at $14.8bn, highlighting a broader trend where investors increasingly favor large, established managers despite a challenging fundraising environment. This capital infusion arrives as GIC nears a $2bn sale of private credit assets, signaling the firm's intent to capitalize on a booming secondaries market. Meanwhile, fund managers are navigating increasingly protracted timelines, requiring GPs to provide deeper transparency and more frequent reporting to maintain LP confidence during these extended cycles.

Healthcare and Life Sciences Deals

Altaris will acquire health tech firm Simulations Plus in a take-private transaction valued at $375m, marking another move in the sector as investors seek out specialized software and service providers. In a separate deal, Audax-backed Belmont Medical Technologies purchased Arcos Inc to expand its reach in fluid-resuscitation and patient-temperature management. Parallel to these exits, CVC Catalyst acquired a majority stake in Willow Wood, a prosthetic limb manufacturer, while Singlepoint Healthcare acquired infusion services provider Healix to bolster its inflammatory disease care capabilities. Rounding out the activity, Cleargate Capital invested in Fellow Health Partners, which supports over 500 clinicians across 50 healthcare organizations.

Infrastructure and Energy Transitions

I Squared Capital partnered with the U.S. International Development Finance Corporation to build a $3bn platform for critical energy infrastructure across South and Southeast Asia. This push into hard assets is mirrored by CPP Investments, which committed up to $715m to scale the Ctrl S data center platform in India, reflecting the intense global demand for digital and power infrastructure. In the U.S., New Mountain Capital invested in Commonwealth Associates to support growth in power engineering, while KPS Capital acquired infrastructure products provider Jennmar, with existing shareholder Falcon Point Partners retaining a significant minority stake.

Take-Privates and Corporate Restructuring

A consortium led by Blackstone has taken control of customer-experience software group Medallia from Thoma Bravo, a shift that follows an estimated $5bn loss for the former owner. In the financial services space, Advent-backed Nuvei acquired Payoneer for $2.75bn, while Arcline will take tech firm Astro Nova private in a deal valued at approximately $272m. Meanwhile, banks are competing to fund EQT's potential take-private of the British product-testing group Intertek with debt packages reaching £5bn. As corporate structures evolve, PayPal Ventures shuttered its operation after a decade, ending a program that included 80 investments.

Industrial and Technology Acquisitions

Montagu will acquire the agentic AI Service Ops platform BMC Helix through a carveout from BMC Software, and Francisco Partners acquired DNS and IP address management security firm Efficient IP. In the aerospace and tech sectors, Lead Edge Capital acquired the electric components procurement platform Elektrik, while Teleo-backed Flatirons purchased enterprise AI platform Scope AR. Additionally, Clearlake-backed Quest Software acquired cybersecurity firm Anetac, and LDC invested in the accountancy business Fortus to expand its advisory footprint in the UK.

AI, Deep Tech, and Venture Capital

SpaceX acquired the AI coding tool Cursor for $60bn, a deal that represents this year's largest startup M&A transaction and provides the firm with a foothold in the enterprise software development market. The move follows a $50m growth equity investment by Prime Radiant Partners into Cellares, and a €32m funding round for French battlefield software startup Comand AI from Blossom Capital and Saab. In a related push for agentic technologies, three former Palantir engineers raised $60m from Index, Iconiq, and SAP, while BAE Systems invested €50m in Lakestar and Expeditions to foster a more self-reliant European defense tech ecosystem.

Global Dealmaking and Market Moves

Long Range Capital agreed to acquire the bulk of Pizza Hut from Yum! Brands for $2.7bn, a deal that excludes the chain's Chinese operations. In the consumer space, L Catterton is in exclusive talks to take a stake in the extreme fitness brand Hyrox, while Blackstone’s Ancestry is weighing a $2.25bn loan to refinance existing debt. Reflecting a shift in how conglomerates manage portfolios, Jardine Matheson is recasting itself as an active investor similar to a private equity fund, backed by a $500m buyback program and planned asset sales. Meanwhile, Elliott Investment Management built a stake of nearly 5% in Bunzl, pressing the company to consider buybacks and a potential structural review.

Secondaries and Fund Management

Flexstone agreed to acquire secondaries firm Glouston Capital Partners, a move that will result in a combined platform managing more than $15 billion in assets. In the credit secondaries space, Blue Owl led a €355m credit continuation vehicle for Veld Capital, while Abry Partners closed an oversubscribed $780m continuation fund for Centauri Health Solutions with participation from Apollo S3 and Neuberger. Also, Argosy doubled the size of its small-deal-focused secondaries unit with a $145m raise, and the Japan Science and Technology Agency began investing in infrastructure secondaries to diversify its endowment portfolio.