Private Equity 3 Days

Last updated: June 18, 2026, 8:30 PM ET

Fundraising & Capital Allocation

Clearlake Capital closed its eighth flagship fund at $14.8bn, targeting AI-driven opportunities as investors remain focused on large-scale, established managers in a challenging environment. Similarly, Charterhouse Capital Partners surpassed its €1.5bn target for its twelfth flagship fund, with a final close expected after the summer. These successful raises occur as fund managers navigate an era of extended fundraising timelines, forcing GPs to offer greater transparency to LPs, who are increasingly scrutinizing performance metrics and evaluating portfolio returns using more rigorous benchmarking standards.

Infrastructure & Secondaries

Singapore’s GIC is finalizing the sale of $2bn in private credit assets, reflecting the broader trend of institutional investors tapping the liquid secondaries market to rebalance portfolios. This appetite for infrastructure secondaries is also drawing interest from Allianz Global Investors, which has identified significant opportunities in a market that has expanded rapidly. Meanwhile, Japan’s Science and Technology Agency has begun to deploy capital into infrastructure secondaries, though the endowment continues to grapple with personnel shortages in its direct investment teams. For firms like Flexstone, the acquisition of Glouston Capital Partners aims to accelerate growth in this space, creating a combined platform managing over $15bn in assets to address what many consider an undercapitalized private market strategy.

Large-Scale M&A & Private Credit

A consortium led by Blackstone has taken control of Medallia in a deal where Thoma Bravo absorbed a $5bn loss, underscoring the volatility in software-focused buyouts. In the industrial and infrastructure sectors, EQT’s potential take-private of Intertek has attracted £5bn in bank financing proposals, highlighting the continued availability of debt for high-quality assets. Elsewhere, Altaris will acquire Simulations Plus for $375m, paying $18.50 per share in a take-private transaction, while Arcline Investment Management will take Astro Nova private for $29 per share, valuing the company at roughly $272m. These deals occur against a backdrop where firms like Blackstone are launching new platforms such as Sable Pointe to deepen their push into asset-based lending, a segment currently experiencing rapid growth.

Strategic Deals & Industrial Growth

Long Range Capital agreed to buy the bulk of the Pizza Hut restaurant chain from Yum! Brands for $1.5bn, excluding the brand’s Chinese operations. In the aerospace and defense sector, KKR committed an additional $1.4bn to aircraft leasing deals with Altavair, building on the $8bn the firm has funneled into the sector since 2018. Meanwhile, Jardine Matheson is recasting itself as an active investor with a $500m share buyback and a series of asset sales, effectively pivoting toward a private equity-style investment model. Additionally, I Squared Capital teamed up with the US International Development Finance Corporation to establish a $3bn platform focused on critical energy infrastructure across South and Southeast Asia.

Tech, AI & Venture Capital Trends

SpaceX acquired AI coding tool Cursor for $60bn, marking the year’s largest startup M&A deal and signaling a strategic move into enterprise software development. While AI has lowered the barrier to entry, investors like Vikram Taneja argue that the real value lies in deep technical challenges at the model and infrastructure level rather than mere application-layer products. This sentiment is reflected in General Atlantic’s early discussions to lead a $2bn-plus financing round for Kling AI, the video generation business of Kuaishou Technology. Conversely, the corporate venture arm of PayPal has shuttered after a decade of operations, reflecting a broader trend of companies sharpening their focus amid ongoing restructurings.

Add-on Acquisitions & Sector Consolidation

Montagu will acquire BMC Helix from BMC Software in a carveout of the agentic AI Service Ops platform, while Francisco Partners acquired EfficientIP to bolster its cybersecurity portfolio. In the healthcare space, Avista-backed EBI acquired Xstim to expand its bone growth stimulation offerings, and DFW-backed Singlepoint Healthcare acquired Healix to grow its infusion services footprint. Industrial consolidation remains steady, with KPS Capital investing in Jennmar to support power infrastructure growth, while TPG acquired Waste Eliminator and Liberty Waste Solutions from Allied Industrial Partners. Further down-market, Bertram Capital-backed Ridgeline Roofing added Freedom Roofing & Construction to its portfolio to capture regional residential demand.

European Market Dynamics

Altor, Strawberry, and TDR Capital are exiting the Nordic Leisure Travel Group in a deal valued at $846m, marking a significant transition for the travel portfolio. In the burgeoning defense sector, French startup Comand AI raised €32m from Blossom Capital and Saab, while BAE Systems invested €50m into venture firms Lakestar and Expeditions to support a self-reliant defense ecosystem. Meanwhile, Investcorp acquired a strategic stake in Metra, a UAE-headquartered IT distributor serving 6,500 partners, as Nordic Capital moved to acquire the finance platform Liberis. These activities coincide with CVC Catalyst’s majority stake acquisition in Willow Wood, a manufacturer of prosthetic limbs and components.