Private Equity 3 Days

Last updated: June 24, 2026, 5:30 AM ET

Dealmaking & Investment Activity

Private equity firms continue to deploy capital across diverse sectors, with significant activity noted in technology, industrials, and specialized services. Ara Partners agreed to sell advanced magnetics company Vacuumschmelze to Energy Fuels for $1.9 billion, a deal underscoring the sector's strategic importance. In a move targeting the burgeoning artificial intelligence market, Blackstone is preparing to invest up to $30 billion in Japan's AI data center infrastructure over the next three to five years. The firm also participated in the $1.775 billion acquisition of Harbourfront Wealth Group by Berkshire Partners. Teleo Capital acquired the pharma manufacturing intelligence platform Modersys from Applied Materials, Inc. Apheon is set to acquire Belgian business software and managed IT services provider Easi, a company that serves over 1,500 clients.

Sector Focus: AI & Technology

The artificial intelligence sector remains a focal point for venture capital and private equity investment, with firms actively seeking to capitalize on its transformative potential. Menlo Ventures raised $3 billion across two new funds dedicated to AI startups, building on a successful prior investment in Anthropic. European early-stage investor Seedcamp also closed on $320 million across two funds to bolster its US presence, aiming to back seed-stage companies building the next wave of technology. Robotics startups have seen a dramatic surge in funding, with global robotics startups raising $18.8 billion so far in 2026, surpassing the full-year 2025 total. Meanwhile, discussions around AI valuations persist, with VCs debating the extent of any potential bubble and the impact of inflated Annual Recurring Revenue (ARR) metrics in the AI space.

Add-on Acquisitions & Platform Building

Consolidation and platform expansion remain key strategies for private equity firms seeking to build scale and market share. Inflexion-backed Ranger Fire and Security expanded its operations with the acquisition of Scion Communications and Emerald Fire Technology. HIG Capital's Axis CLC acquired Fieldway Group, a specialist in fire safety and compliance services. Separately, Mangrove Equity launched its new platform, Peak Pavement Group, by integrating HD Sealcoating & Paving Solutions and Maintain It All. In the healthcare sector, Brightstar Capital acquired Erdman, an architecture firm, as an add-on to its existing portfolio company KZF Design.

Fundraising & Investor Intentions

The fundraising environment shows continued appetite for specialized strategies, particularly in private credit and secondaries. Allianz Global Investors held the first close of its Asia Pacific Secured Lending Fund III, securing $744 million. In the secondaries market, Pantheon's infrastructure fund is nearing its final close, positioning itself among the largest in the sector alongside Ardian's offerings. Flexstone Partners is set to acquire Glouston Capital Partners, creating a $15 billion private markets platform. ADIC has hired senior staff for its secondaries unit, which deployed $19 billion in 2025. KB Securities, a South Korean investment bank, is open to both LP and GP-led secondaries partnerships, considering deals in South Korea, Japan, Hong Kong, Singapore, and the US indicating broad regional interest.

Consumer & Business Services Deals

Private equity firms are also actively investing in consumer-facing and business services companies. L Catterton took a significant minority stake in clean haircare brand RŌZ. Investcorp is acquiring a majority stake in UK facilities management firm Smart Managed Solutions for over $200 million. Apollo, Hellman & Friedman, and Platinum Equity are investing in the live events sector, a market projected to exceed $1.2 trillion by 2032, driven by its increasing popularity and resilience to AI disruption. Reverence Capital is investing in accounting firm Eide Bailly to accelerate its growth and client service capabilities.

Buyout & Exit Activity

Several significant buyout and exit transactions are underway or nearing completion. Platinum Equity is set to acquire manufacturer Tangent Technologies, with the deal expected to close in the third quarter of 2026. Advent-backed Cobham Ultra Group is selling its defense tech business, Ultra Mission Solutions, to Booz Allen for $720 million. CVC is reportedly considering a €6 billion exit from Cooper Consumer Health, with drugmaker Stada emerging as a potential buyer following CD&R's withdrawal. In a notable exit, TPG Capital is selling its Australian drinks and dairy producer Made Group to Danone for $1.4 billion.

Specialized Technology & Software Investments

Investments in specialized software and technology platforms continue to attract private equity attention. Thoma Bravo is backing occupational health software firm Padoa, which serves clients across France and Europe with its health management solutions. Ambienta is investing in GFF, an Italian developer of natural flavors for the food and beverage industry. PE-backed Life Science Connect is acquiring biopharma brands Pharma Source and CDMO Live to create an outsourcing platform. In a move indicating the appeal of less AI-disruptable sectors, multiple private equity firms are investing in laundry services, including The Sterling Group, Cornell Capital, and HIG Capital.

Secondaries Market Dynamics

The secondary market continues to evolve, with increasing LP interest in bespoke Special Purpose Vehicles (SPVs) and a growing concern over "zombie funds" – tail-end vehicles holding illiquid assets. Around 40% of LPs expect continued growth in GP-led secondary (GP-led) activity, even as exit markets improve. INVL Family Office has launched a private equity secondaries fund in partnership with Adams Street Partners, offering clients access to this market. Meanwhile, Swedish insurer LF is exploring moves into private debt secondaries, following similar diversification strategies by other European insurers looking to manage illiquid portfolios.

European Startup Ecosystem & Funding

The European startup scene is demonstrating resilience and innovation, with notable funding rounds and strategic shifts. German car subscription company Finn has achieved unicorn status. Sequoia and Founders Fund are backing drone startup Stark with a €500 million raise. Deep Mind has selected a startup for its robotics accelerator, which subsequently raised an $11.7 million seed round. Discussions around the "AI bubble" and valuation inflation are ongoing, with investors evaluating the sustainable growth of companies such as those in vertical AI. Despite broader market volatility, eight European startups raised over $1 billion in 2026, setting new records.

Corporate Finance & Capital Markets

Corporate finance activities reflect ongoing strategic adjustments and capital raising efforts. Brookfield is seeking a A$750 million loan (approximately $525 to fund a dividend recapitalization for its Australian lender La Trobe Financial and to refinance existing debt. Godiva Japan, owned by MBK Partners, is negotiating an extension on its $464 million buyout loan. In a significant move, Italian software acquirer Bending Spoons is seeking to raise up to $1.62 billion in an initial public offering alongside some of its backers. TPG has appointed Axel André as its new CFO, with Jack Weingart transitioning to lead the firm's growing private wealth business signaling a strategic reshuffle.

Sector Developments & Strategic Bets

Private equity firms are making strategic bets on sectors poised for growth or offering resilience. KKR-owned Arctos Partners is backing a $288 million stadium district development in Tennessee as part of its expansion into college sports. Castlelake has made a $6.3 billion offer for easy Jet, taking the proposal directly to shareholders after the airline's board rejected prior approaches highlighting ongoing airline sector interest. Acorn Capital is selling Berry Aviation for $105 million to Bristow Group. Companies like padoa, serving occupational health centers, and West Physics, providing testing services for medical imaging equipment, are attracting investment underscoring the focus on specialized services.