Private Equity 3 Days

Last updated: June 26, 2026, 2:30 AM ET

Fundraising & Capital Deployment

Private equity firms are demonstrating a robust appetite for capital across various strategies. Main Capital Partners closed a record €5.25 billion in software funds in under six months, marking the largest buyout fundraise in the Netherlands. In parallel, MGX raised nearly $50 billion for artificial intelligence infrastructure and technology, signaling a significant push into the AI domain. Menlo Ventures secured $3 billion across two new funds to back AI startups from seed to growth stages, its largest capital raise in 50 years, following a successful bet on Anthropic. On the credit side, Allianz GI gathered $744 million at the first close of its third Asia Pacific private credit fund.

M&A Activity & Exits

The market is active with a mix of large-scale buyouts and strategic acquisitions. Permira and Warburg Pincus-led investors took Clearwater Analytics private for $8.4 billion, a transaction supported by Francisco Partners and Temasek. In the technology sector, Advent International agreed to acquire Japanese home care operator JWB from MBK Partners, marking Advent's entry into the Japanese market. KKR has flagged accelerating exits, with monetization activity exceeding $900 million in its latest quarter, indicating a pickup in capital returns to clients. Meanwhile, Bain Capital is in exclusive talks to acquire a 51% majority stake in Everllence from Volkswagen Group for €7.4 billion, a move that also involves Tikehau's exit from Aubert & Duval to Airbus and Safran.

Sector Focus: AI & Technology

Artificial intelligence continues to be a dominant theme, driving investment and innovation. Patronus AI landed $50 million to develop AI agent-testing platforms, citing insatiable demand from former Meta AI researchers. The broader AI advantage in private equity is being built by operators who understand its evolving capabilities as highlighted by PE Hub. In Europe, the focus is on scaling AI effectively, with founders prioritizing long-term vision over immediate funding rounds according to Sifted. Beyond AI, XCures secured $46 million in Series B funding to streamline medical records using AI, and DeepMind handpicked a robotics startup for its accelerator, which then raised an $11.7 million seed round.

Fund Finance & Secondaries

Developments in fund finance point to an increasingly sophisticated toolkit for investors. EQT secured a sustainability-linked facility, reflecting an era where materiality and impact are paramount. The secondaries market, however, faces challenges with benchmarking standardization, raising questions about the suitability of traditional private equity metrics. Panellists at the European Fund Finance Association conference noted that fund finance has evolved into a multi-instrument, lifecycle-wide toolkit as reported by Secondaries Investor and PE International. NAV facilities are also emerging as a potential lifeline for embattled evergreen funds as noted in PE International's Side Letter.

Geographic & Regional Investments

Activity is spread across various geographies, with notable investments in Europe and Asia. In Japan, Blackstone is preparing to invest $30 billion in AI data center infrastructure over the next three to five years. Blackstone and Bain Capital are advancing in the bidding for Fuji Media's $6.3 billion property arm, potentially marking Japan's largest property deal. In Europe, Quadrivio and Capdesia are acquiring Alice Pizza, Italy's largest fast-casual pizza chain. The British Business Bank is backing UK venture capital, committing £90 million to ten VC funds as reported by Sifted, and is considering a stake in the EU's €5 billion Scaleup Fund according to Sifted.

Sports & Live Events

The sports and live events sectors are attracting significant private equity interest. Apollo, Hellman & Friedman, and Platinum Equity are investing in live events, a market projected to exceed $1.2 trillion by 2032. Blue Owl is nearing a minority stake in the NBA's Cleveland Cavaliers, and KKR-owned Arctos is backing a $288 million stadium district project in college sports. In a notable move, Juggernaut Capital Partners is teaming up with Gareth Bale to pursue a football club takeover.

Strategic Fund Initiatives

Firms are launching new funds and strategies to capitalize on market trends. Carlyle launched a dedicated defence and reindustrialisation fund, registered in June. Valor Equity Partners is looking to raise a $2.5 billion Fund VII, with further details emerging on its capital raise efforts. The Dutch manager Main Capital Partners is opening a London office following its substantial €5.25 billion fundraise, focusing on "mission-critical companies" less affected by AI volatility.

Portfolio Company Acquisitions & Add-ons

Add-on acquisitions continue to fuel growth for existing portfolio companies. Southfield-backed Osprey Landscape Group acquired commercial landscape services firm Land Graphics. Inflexion-backed Ranger Fire and Security made two add-ons with the acquisitions of Scion Communications and Emerald Fire Technology. HIG-backed Axis CLC picked up Fieldway Group, a specialist in fire safety and compliance services. In the IT services sector, Apheon is acquiring Belgian business software and managed IT services provider Easi, and Omni-backed Infoshare acquired 3C Consultants and Infoboss.

Valuations & Market Dynamics

Discussions around AI valuations persist, with VCs weighing in on valuations and ARR inflation as explored by Tech Crunch Venture. Some investors are prioritizing liquidity, with Ohio Teachers planning its PE pacing for FY 2027 to address a $4 billion annual deficit. Virginia's pension fund has cut its private equity target for the first time in over 15 years, citing volatility concerns. The question of how to invest when markets are moving rapidly is also a point of discussion as noted by Tech Crunch Venture.

Specialized Investments

Beyond core tech and buyouts, private equity is exploring niche opportunities. HarbourView acquired publishing rights to certain Wolf Cousins-written songs, tapping into the music royalty market. Ambienta is investing in GFF, an Italian developer of natural flavors, and has signed an exit from Cap Vert to Gimv as reported by PE Hub. For live events, Apollo and Platinum Equity are investing in the sector, anticipating growth towards $1.2 trillion by 2032. In the defense sector, private capital is showing keen interest in UK defense plans according to PE Hub.

Venture Capital & Early-Stage Funding

Early-stage funding remains active, particularly in AI and hard tech. Sifted reported on seed rounds that may have been missed in the first half of the year. Voice-controlled drones startup, backed by Lakestar and Seedcamp, is among those pushing innovation. Bessemer-backed Mas Restaurant Group sold 43 Taco Bell locations to Southpaw, while Great Hill invests in pet grooming franchise Woof Gang Bakery & Grooming. The British Business Bank is also actively supporting VC funds as detailed by Sifted. Investors are also eyeing nuclear startups amid a "massive scramble" for sovereign energy solutions according to Sifted.