Private Equity 3 Days

Last updated: June 23, 2026, 8:30 AM ET

Dealmaking & Fundraisings

Private equity firms continue to actively deploy capital across diverse sectors, with recent activity highlighting investments in specialized services and franchises. Incline Equity invested in West Physics, a provider of testing services for medical imaging equipment like MRI and CT scanners. Similarly, Great Hill invested in Woof Gang Bakery & Grooming, a pet grooming franchise, signaling continued interest in consumer-facing service businesses. In a strategic expansion, HIG-backed Axis CLC acquired Fieldway Group, which offers fire safety and compliance services. Meanwhile, LDC invested in Nu-Style Products, a manufacturer of laminate wall panels, demonstrating a focus on industrial manufacturing. Greybull Stewardship acquired Genesys Industries, consolidating three American manufacturing brands under a single platform.

The technology and software sectors also saw significant investment and strategic moves. Italian software acquirer Bending Spoons is seeking up to $1.62bn in an IPO, with some of its backers participating in the offering. PE-backed Hyve acquired the Virtuosi League, a community platform for C-suite executives, underscoring a trend of consolidating niche professional networks. In a notable secondary market transaction, Flexstone agreed to acquire Glouston Capital Partners, creating a $15 billion private markets platform.

Funds & Investor Activity

The fundraising environment remains active, with firms raising substantial capital for new strategies and expansions. Clearlake closed its eighth flagship fund at $14.8bn, with a stated focus on artificial intelligence. Early-stage investor Seedcamp raised $320 million across two funds, aiming to expand its U.S. footprint after years of focusing on Europe. INVL Family Office launched a private equity secondaries fund in partnership with Adams Street Partners, providing clients access to the global secondary market. Separately, Mubadala's indirect investments arm, ADIC, made a senior secondaries hire to oversee its portfolio, following the launch of its secondaries unit in 2024.

Investor concerns are surfacing around "zombie funds," or tail-end vehicles holding assets for extended periods. LPs are increasingly concerned about tail-end assets, with Virginia's state pension system expressing worries about GP selection. The problem of zombie funds persists, as investors anticipate a rise in such vehicles amid liquidity pressures and difficulty for GPs in differentiating themselves. This sentiment is reflected in the secondary market, where around 40% of LPs expect continued growth in secondaries activity, with many adopting a more concentrated approach.

Sector Focus & Trends

Private equity firms are increasingly targeting specific sectors with high growth potential, including live events and laundry services, while also navigating the impact of artificial intelligence. The global live events market is projected to exceed $1.2 trillion by 2032, attracting investment from firms like Apollo and Platinum Equity. The laundry services sector, seen as resistant to AI disruption, is drawing significant interest from multiple private equity investors, including The Sterling Group and Cornell Capital.

The transformative impact of AI is a recurring theme, particularly in healthcare and software. AI is accelerating drug discovery by enabling faster screening of compounds, a development that has piqued private capital's interest. In the software realm, there is a growing belief that the next wave of innovation will be driven by AI-native, industry-specific platforms rather than traditional Saa S models. Companies are also focusing on building their own AI infrastructure, with Europe emphasizing the need to own and control the entire AI stack to remain competitive.

Corporate & Financial Moves

Several private equity firms have seen significant portfolio company transactions and internal strategic shifts. TPG appointed Axel André as Partner and Chief Financial Officer, with current finance chief Jack Weingart transitioning to lead the firm's private wealth arm. TPG Capital exited its investment in Australian drinks producer Made Group, selling the business to Danone for $1.4 billion. MBK Partners' Godiva Japan is seeking an extension on its $464 million buyout loan as it negotiates with its banking syndicate.

In strategic divestments, Advent-backed Cobham Ultra Group is selling its defense tech business to Booz Allen for $720 million. CVC is exiting its stake in Philippine logistics leader Fast Logistics Group, with the founding family resuming full control after a five-year holding period. Apollo's flagship retail credit fund will satisfy only a fraction of redemption requests, as redemptions exceeded its quarterly limit.

Public Markets & IPO Aspirations

While many private equity deals occur away from public markets, some portfolio companies are eyeing IPOs or are involved in significant valuations. Bending Spoons is seeking to raise as much as $1.62 billion in an IPO, a move that could signal a robust appetite for software offerings. Data analytics company AppsFlyer is reportedly seeking more than $1 billion in a Series E funding round at a $2.7 billion valuation, potentially paving the way for a future public listing.

Geopolitical & Regulatory Considerations

Geopolitical events and regulatory environments continue to influence investment strategies, particularly in Europe. The impact of Brexit on UK startups remains a subject of analysis, with ongoing discussions about policy measures that could support their growth. In Europe, there is a push to scrap non-compete clauses to foster AI development, aiming to retain talent and encourage innovation.

Other Notable Transactions

Castlelake has taken its £4.7 billion takeover proposal for easy Jet directly to shareholders after the airline's board rejected previous approaches. Investcorp is acquiring a majority stake in UK facilities management firm Smart Managed Solutions in a deal valued at over $200 million. In a dividend recapitalization, Brookfield is seeking a $525 million loan to fund a payout to investors in its Australian lender La Trobe Financial. Signal Hill-backed Aeterna Group has launched, formed by uniting five architecture and engineering firms.