Private Equity 3 Days

Last updated: June 20, 2026, 8:30 PM ET

Large-Cap Deal Activity

EQT solidified its position in the U.K. market by launching a £10.9bn take-private of the testing group Intertek, bolstered by co-investment commitments from the Abu Dhabi Investment Authority and Mubadala. This move follows EQT's strategic expansion into the aerospace sector through the acquisition of German satellite mission management specialist Exolaunch, marking the firm’s inaugural entry into the space technology industry. Meanwhile, a field of 10 bidders is currently evaluating a potential acquisition of the German state-owned utility Uniper, with major players including KKR, Brookfield, and CDPQ among those scrutinizing the asset.

Infrastructure and Private Debt

Apollo is finalizing terms for a $574m private debt facility to refinance Eolo, an Italian telecommunications operator held by Partners Group, as private credit continues to capture larger shares of corporate refinancing mandates. The infrastructure sector is also seeing heightened secondaries volume, prompting firms like Allianz Global Investors to expand their focus on the sub-asset class, which they describe as significantly undercapitalized despite strong growth projections. These shifts occur alongside record levels of dry powder held by private equity firms, even as the conversion of companies testing the market remains subdued compared to historical averages.

Industrial and Specialized Acquisitions

JFLCO-backed FSG is scaling its portfolio through the acquisition of Custom Alloy Corporation, a move designed to deepen the firm’s exposure to high-specification forgings for the U.S. nuclear navy and aerospace sectors. In parallel, Riverside Company has invested in Asset Intel, a software provider that assists federal agencies and transit authorities in managing critical infrastructure, while Platinum Equity is preparing to divest its HVAC equipment supplier Heat Controller. These industrial-focused maneuvers are supported by strengthened recruitment efforts, such as Arsenal Capital appointing Max Schechter to lead its industrial growth business development.

Portfolio Management and Niche Growth

Mutares has successfully executed a carve-out of chemical producer Synthomer, continuing a trend of specialized industrial spin-offs. In the consumer and services space, Rosser Capital has deployed capital to support the regional expansion of its Re-Bath franchisee into markets including Pittsburgh and Cleveland, while BGF has backed the travel operator Wild Frontiers to scale its international tour offerings. Further consolidation is occurring in the software sector, where Omni Partners-backed Infoshare has acquired the local authority software provider DEF Software, and Avista-backed EBI has expanded its bone-growth technology portfolio by acquiring the Xstim unit from Precision Medical Products.

Ventures and Market Trends

Institutional investors are intensifying their scrutiny of performance benchmarks, seeking more rigorous methods to evaluate returns as the private equity landscape evolves. Meanwhile, the startup ecosystem remains active, with Flagright raising $12.5m to fuel its U.S. expansion and Odyssey leading the week’s funding with a $310M round, despite a broader slowdown in large-scale venture capital deals. While some sectors grapple with internal cultural allegations and others navigate the complexities of share trading rules, investors are increasingly evaluating the defensibility of seed-stage software in an era where AI has lowered the barriers to development.

Strategic Positioning

MSP Sports Capital has entered the league through a majority stake acquisition in the New Zealand Sail GP Team, reflecting a growing appetite for premium sports assets. The broader investment community remains focused on the long-term asset inflation potential of AI-related infrastructure, with experts suggesting the current build-out represents a structural scarcity rather than a bubble. As Charterhouse approaches a final close for its twelfth flagship fund after surpassing its €1.5bn target, and Nordic Capital moves to acquire the finance platform Liberis, the industry continues to prioritize scale and leadership influence as central components of its investment thesis.