Private Equity 3 Days

Last updated: June 22, 2026, 11:30 AM ET

Private Equity Dealmaking & Fund Activity

Private equity firms are navigating a complex deal environment, marked by a surge in AI-native, industry-specific platforms as the next software wave. Robotics startups, in particular, are experiencing a funding boom, having raised $18.8 billion globally in 2026 so far, surpassing the $14.1 billion peak in venture funding. This growth is occurring even as some AI companies face internal challenges, with Unlikely AI undergoing a strategic shakeup amid widening losses and senior staff departures. Europe is also doubling down on its own AI infrastructure, with a push to own the entire AI stack and a call to scrap non-compete clauses to foster growth. In strategic acquisitions, Flexstone Partners agreed to acquire Glouston Capital Partners, creating a $15 billion private markets platform. Greybull Stewardship has snapped up manufacturer Genesys Industries, consolidating three American manufacturing brands—Avia Marine Company, Latrobe Foundry, and Sterner Screw Machine—under one umbrella. Investcorp is set to acquire a majority stake in the UK facilities management firm Smart Managed Solutions for over $200 million, a deal that bolsters its presence in the UK market. Meanwhile, Advent-backed Cobham Ultra Group is selling its Ultra Mission Solutions defense tech business to Booz Allen for $720 million, signaling a strategic divestment in the defense sector.

LP Concerns & Fund Strategies

Limited partners are increasingly scrutinizing private equity strategies, particularly concerning tail-end assets and the persistent problem of "zombie funds" 1. This concern stems from ongoing liquidity pressures and difficulties for general partners in differentiating their offerings, leading to expectations that the number of vehicles holding legacy assets will rise. Virginia's $134 billion state pension system, for instance, is actively evaluating its GP selection processes amidst these worries .

In response to market dynamics and investor demand, early-stage investor Seedcamp has raised $320 million across two new funds, marking an expansion of its U.S. footprint after 18 years of focusing on Europe, 25. INVL Family Office has also launched a private equity secondaries fund in partnership with Adams Street Partners, offering its clients access to the global secondary market. Similarly, Swedish insurer LF is exploring an entry into private debt secondaries, mirroring moves by other European insurers like NN Group seeking to diversify illiquid credit portfolios.

Sector Focus & Exits

Private equity firms are showing a notable interest in specific sectors, including laundry services, which are perceived as less vulnerable to AI disruption. Firms such as The Sterling Group, Cornell Capital, Surge Private Equity, Northleaf Capital Partners, HIG Capital, and Mainsail Partners are actively investing in this space. In the sports sector, MSP Sports Capital has acquired a majority stake in the New Zealand Sail GP Team, marking its entry into the sailing league. TPG Capital is exiting its investment in Australian drinks and dairy producer Made Group, agreeing to sell the business to Danone for $1.4 billion.

Distressed Assets & Market Challenges

The challenges in the private equity market are also evident in distressed situations. Godiva Japan, owned by Asian PE firm MBK Partners, is reportedly in talks with its banking syndicate to extend the repayment deadline on its $464 million leveraged buyout loan. In the aviation sector, Castlelake's $6.3 billion takeover proposal for easy Jet has been rejected by the airline's board, prompting the U.S. private equity firm to take its offer directly to shareholders. The "Disruption Matters" podcast series is exploring how private fund managers are navigating profitable exits amidst turbulence and uncertainty, with a focus on orchestrating realizations in a challenging environment.

Firm Hirings & Promotions

Firms continue to make key personnel moves. TPG has appointed Axel André as partner and CFO, succeeding Jack Weingart, who will transition to lead TPG’s global wealth solutions business. Littlejohn has promoted Charles Leung to managing director, marking a career progression within the firm. Apax Partners has also hired a new investor relations professional, signaling a focus on LP relationships.