Private Equity 3 Days

Last updated: June 23, 2026, 5:30 PM ET

Fundraising & Capital Deployment

Venture capital firm Menlo Ventures has raised a significant $3 billion across two new funds, marking the largest capital raise in its 50-year history. The firm plans to deploy this capital into AI startups across all stages, building on its successful $750 million investment in Anthropic. Similarly, early-stage investor Seedcamp has closed on $320 million across two funds, signaling an expansion of its U.S. footprint after 18 years of focusing on Europe. In the private credit space, Allianz Global Investors has secured $744 million at the first close of its third Asia Pacific private credit fund, the Allianz Asia Pacific Secured Lending Fund III.

Sector Investments & Acquisitions

Private equity firms continue to show robust activity across diverse sectors. Teleo Capital has acquired the pharmaceutical manufacturing intelligence platform Modersys from Applied Materials. Acorn Capital is set to sell Berry Aviation to Bristow Group for $105 million . Apheon is acquiring Belgian managed IT services provider Easi, which serves over 1,500 clients. Brightstar Capital has acquired healthcare architecture firm Erdman, which will operate as an add-on to its existing portfolio company KZF Design. Juniper Capital is backing AV systems design firm Bug ID, with founder Matt Lavine retaining a significant equity stake. In the life sciences sector, PE-backed Life Science Connect is acquiring biopharma brands Pharma Source and CDMO Live to form a biopharma outsourcing platform. Incline Equity has invested in West Physics, a provider of testing services for medical imaging equipment. Great Hill Partners has invested in the pet grooming franchise Woof Gang Bakery & Grooming, with Garnett Station Partners remaining a significant investor. L Catterton has taken a substantial minority stake in the clean haircare brand RŌZ.

Platinum Equity is actively pursuing acquisitions, agreeing to buy manufacturer Tangent Technologies and emerging as the sole bidder for Nestlé's water business after rival bidder CD&R exited the auction. Elsewhere, Advent-backed Cobham Ultra Group is selling its Ultra Mission Solutions' defense tech business to Booz Allen for $720 million . Greybull Stewardship has acquired Genesys Industries, consolidating three American manufacturing brands under one platform.

Platform Builds & Strategic Moves

Mangrove Equity has launched a new platform, Peak Pavement Group, and immediately added two businesses: HD Sealcoating & Paving Solutions and Maintain It All. In the broader European tech ecosystem, there is a concerted effort to rebuild the tech stack and strengthen European AI infrastructure, with a focus on owning and controlling the entire AI stack. This push comes as the European market increasingly looks to develop its own AI capabilities, potentially by reforming non-compete clauses to attract talent.

Growth Strategies & Market Trends

The live events sector is experiencing a surge in private equity interest, with firms like Apollo, Hellman & Friedman, and Platinum Equity making investments. The global market for live events is projected to exceed $1.2 trillion by 2032, making it an attractive area for PE firms. In the sports sector, KKR-owned Arctos Partners is forming development partnerships for mixed-use entertainment districts adjacent to sports stadiums, indicating a broader trend of PE firms tackling college sports infrastructure.

Fund Performance & Investor Concerns

While fundraising remains active, investors are grappling with concerns regarding tail-end assets and the persistence of "zombie funds." The Virginia state pension system has cut its private equity target allocation by 10%, citing volatility concerns and marking the first reduction in over 15 years. Limited partners are increasingly worried about the proportion of GPs utilizing "Z" word – tail-end vehicles – with expectations that the number of such funds holding assets will rise amid liquidity pressures. In credit markets, Apollo's flagship retail credit fund is only able to meet 5% of redemption requests, highlighting potential liquidity constraints.

Deal Valuations & Exits

Private equity firms are orchestrating profitable exits in a turbulent market. TPG Capital is exiting its investment in Australian drinks and dairy producer Made Group, selling the business to Danone for $1.4 billion. CVC Capital Partners is considering a €6 billion exit from Cooper Consumer Health, with Cap Vest-owned Stada emerging as a potential buyer. CVC is also exiting its stake in Philippine logistics leader Fast Logistics Group, with the founding family taking full control after a five-year holding period.

Industry Specific Developments

In the aviation sector, Bristow Group is acquiring Berry Aviation from Acorn Capital for $105 million. In the professional services realm, Reverence Capital is investing in CPA firm Eide Bailly to support its growth and client service initiatives. Berkshire Partners is investing C$1.775 billion in Harbourfront Wealth Group. Investcorp is acquiring a majority stake in UK facilities management firm Smart Managed Solutions for over $200 million$200 million.

Emerging Technologies & AI Impact

Artificial intelligence is significantly impacting various sectors, including healthcare, where drug discovery can be accelerated through faster compound screening. However, the pace of AI adoption varies across industries, with some companies, like Tandem Health, stating they are not dependent on specific AI providers. The broader software landscape is shifting towards AI-native, industry-specific platforms, with vertical AI companies expected to be major beneficiaries. Robotics startups are experiencing a surge in venture funding, raising $18.8 billion globally in 2026, surpassing previous years and indicating strong investor appetite in the sector.

Secondaries Market Activity

The secondaries market is seeing continued growth, with Pantheon's infrastructure secondaries funds surpassing their targets. INVL Family Office has launched a private equity secondaries fund with Adams Street Partners, providing clients access to the global secondary market. ADIC has made a senior hire to oversee its secondaries portfolio, reflecting the growing importance of this segment. Flexstone Partners is set to acquire Glouston Capital Partners, creating a $15 billion private markets platform. European insurance firms, such as NN Group, are also exploring the secondaries market to diversify their illiquid credit portfolios.

Fund Management & Operational Changes

TPG has appointed Axel André as Partner and Chief Financial Officer, with current CFO Jack Weingart transitioning to lead the firm's rapidly growing private wealth armwealth arm. Littlejohn has promoted Charles Leung to managing director. In a move that could impact M&A transactions, Japan's tax overhaul may provide a short-term boost ahead of significant tax changes in 2027.

Notable Exits & Divestitures

In a significant aviation deal, Castlelake has made a £4.7 billion takeover bid for easy Jet, taking the proposal directly to shareholders after the board rejected prior approachesprior approaches. MBK Partners' Godiva Japan is in discussions with its lenders to extend the repayment deadline on its leveraged buyout debt.

Sector Focus: Laundry Services & Defense

The laundry services sector is drawing considerable attention from private equity, with firms like The Sterling Group, Cornell Capital, and Northleaf Capital Partners investing in the space. This sector is seen as relatively insulated from AI disruption, making it appealing to PE investors. In defense technology, Booz Allen is acquiring Ultra Mission Solutions' defense tech business from Advent-backed Cobham Ultra Group for $720 million.