Private Equity 3 Days

Last updated: June 26, 2026, 5:30 AM ET

Private Equity Dealmaking & Fund Activity

Private equity firms are demonstrating continued appetite for acquisitions across diverse sectors, with significant deal values reported. A consortium led by Permira and Warburg Pincus finalized the $8.4 billion take-private of Clearwater Analytics, a U.S. investment management software provider, with Francisco Partners and Temasek also participating. In the food sector, Quadrivio & Pambianco and Capdesia are acquiring Alice Pizza, Italy's largest fast-casual pizza chain, which operates 231 sites. Elsewhere, Advent International is set to acquire Japanese home care operator JWB from MBK Partners, marking Advent's entry into the Japanese market. Meanwhile, CVC Capital Partners is exploring a potential €6 billion exit from Cooper Consumer Health, with Cap Vest-owned Stada reportedly circling as a buyer.

Sector-Specific Investments & Exits

Specialized investment strategies are shaping deal activity, particularly in technology and healthcare. Carlyle has launched a dedicated fund for defense and reindustrialization, signaling a focus on these strategic sectors. In the realm of AI, agent-testing startup Patronus AI has secured $50 million to develop AI stress-testing "digital worlds" backed by investors. Similarly, Blackstone is planning a substantial $30 billion investment in Japan's AI data center infrastructure over the next three to five years. On the exit front, Ara Partners is selling advanced magnetics company Vacuumschmelze to Energy Fuels for $1.9 billion.

Software & Technology Acquisitions

The software and IT services sector remains a hotbed for private equity activity, with several notable transactions. Main Capital Partners concluded a record €5.25 billion software fundraise in under six months, the largest in the Netherlands, and plans to open a London office. Apheon is acquiring Belgian business software and managed IT services provider Easi, which serves over 1,500 clients. In the UK, Omni-backed Infoshare has acquired 3C Consultants and Infoboss, bolstering its data governance and compliance software offerings for social housing and local government.

Healthcare & Services Sector Deals

The healthcare and services industries are attracting significant private equity interest. Chicago Pacific Founders is backing health tech firm Attune to enhance its omnichannel capabilities and integrations. In the landscape services sector, Southfield-backed Osprey Landscape Group has acquired commercial landscape services firm Land Graphics. Medical and health physics testing provider West Physics has received an investment from Incline Equity. Additionally, Brightstar Capital has acquired healthcare architecture firm Erdman, which will be integrated into its portfolio company KZF Design.

Infrastructure & Real Assets

Investments in infrastructure and real assets are also gaining traction. Blackstone and Bain Capital are reportedly advancing in the bidding for Fuji Media's property arm, a deal that could reach $6.3 billion and become Japan's largest property transaction. Smart city assets are seen as offering "decades-long growth opportunities" with "very strong outcomes from a valuation perspective," according to Lincoln International. In the aviation sector, Acorn Capital is selling Berry Aviation to Bristow Group for $105 million.

Fund Finance & Secondaries Market Developments

The fund finance and secondaries markets are evolving with new structures and increased investor appetite. EQT has secured a sustainability-linked fund finance facility, reflecting a growing emphasis on ESG factors. Panelists at industry conferences noted that fund finance has moved to a "multi-instrument and life cycle-wide toolkit" as cited by sources. In the secondaries space, there is a discussion regarding a potential "benchmarking problem" due to a lack of standardization as reported by Secondaries Investor. Pantheon has surpassed its target for infrastructure secondaries, with its latest fund ranking among the largest in the sector.

Venture Capital & Startup Funding Rounds

Venture capital continues to fuel innovation, with several startups announcing significant funding rounds. Menlo Ventures has raised $3 billion across two new funds, the largest capital raise in its history, to invest in AI startups. Voice-controlled drones startup Stark has confirmed a €500 million raise backed by Sequoia and Founders Fund. In the AI domain, agent-testing startup Patronus AI has landed $50 million from investors, and AI medical record startup XCures has closed a $46 million Series B round led by Innovius Capital. The British Business Bank is also backing ten VC funds with a £90 million allocation in an exclusive report.

Geographic & Sector Focus

Geographic expansion and sector specialization are key themes. Main Capital Partners is opening a London office following its substantial fundraise. Carlyle has launched a dedicated fund for defense and reindustrialization. In Japan, Advent International is making its market debut with a home care buyout. US private equity firm Juggernaut Capital Partners is teaming up with Gareth Bale to pursue a football club takeover.

Market Trends & Investor Sentiment

Investor sentiment is being shaped by market volatility and the evolving landscape of technology. The Virginia pension fund has cut its private equity target due to volatility concerns, marking its first reduction in over 15 years. Conversely, KKR has flagged accelerating exits, with monetisation exceeding $900 million from March 31 to June 24, indicating a pickup in asset sales and capital returns to clients. The ongoing development of AI is influencing investment strategies, with VCs discussing potential valuations and ARR inflation as noted in a Tech Crunch report, and a general consensus that AI capabilities require continuous adaptation by investors.

Corporate Carve-outs & Strategic Investments

Strategic carve-outs and investments in established companies are also prominent. Bain Capital is acquiring a 51% majority stake in Everllence, a provider of propulsion and decarbonization products, from the Volkswagen Group in a €7.4 billion deal. Platinum Equity has emerged as the sole bidder for Nestlé's water business after CD&R withdrew. In sports, Arctos Partners, owned by KKR, is backing a $288 million stadium district development in Tennessee as part of a college sports expansion.

Emerging Technologies & AI

Investment in artificial intelligence and related technologies continues to be a dominant theme. MGX has raised close to $50 billion for a new fund focused on AI infrastructure and technology. The "private equity AI advantage" is seen as being built by operators who can adapt to constantly emerging capabilities and evolving use cases according to industry commentary. Discussions around AI bubbles and valuation inflation persist among venture capitalists as reported by Tech Crunch.

Consumer & Franchising Investments

The consumer and franchising sectors are also seeing private equity involvement. L Catterton has taken a significant minority stake in haircare brand RŌZ. Great Hill is investing in pet grooming franchise Woof Gang Bakery & Grooming. Several firms, including Orangewood Partners, are investing in franchisees, leveraging AI to transform customer feedback and service in restaurants and retail.

Live Events Sector Attracts PE Interest

The live events sector is experiencing a wave of private equity interest, with firms like Apollo, Hellman & Friedman, and Platinum Equity investing in the space. The global market for live events is projected to exceed $1.2 trillion by 2032, making it an attractive area for PE firms as highlighted by PE Hub.

Other Notable Transactions

Other significant deals include HSG's completion of the acquisition of Golden Goose, with Temasek and True Light Capital joining as minority shareholders. In the publishing sector, HarbourView has acquired a publisher's share of songs written by the Wolf Cousins collective. Blue Owl Capital is reportedly in advanced talks to acquire a minority stake in the NBA's Cleveland Cavaliers.