Private Equity 3 Days

Last updated: June 26, 2026, 11:30 AM ET

Dealmaking Across Sectors

Private equity firms continued their acquisitive streak across diverse sectors, with Partners Group-backed SureWerx acquiring Italy’s Genesi, a provider of work-at-height safety products. In the UK, Warburg Pincus agreed to acquire utility and infrastructure service provider Network Plus for its maintenance and operational services. Meanwhile, CVC Capital Partners is set to invest in Chess.com, the world's largest online chess platform, with existing investor General Atlantic maintaining a stake. The firm also secured a majority stake in Everllence from Volkswagen Group for €7.4bn, a move that includes propulsion and decarbonization products. Elsewhere, Advent is acquiring Japanese home care operator JWB from MBK Partners, marking its debut in Japan.

Healthcare and Life Sciences Activity

The healthcare sector saw significant private equity interest, with multiple firms pursuing radiology assets, including Archimed, HCAP, Hg, and Kain Capital. Archimed and Kain Capital were among those exploring deals, alongside Latticework Capital and Edgehill backing acquisitions of CDMO brands. In supplements, L Catterton is exploring the sale of Thorne at a valuation potentially reaching $4bn, with Unilever reportedly circling. Brightstar Capital acquired healthcare architecture firm Erdman, integrating it into its portfolio company KZF Design.

Technology and Software Transactions

Software and IT services remain a strong focus. Permira and Warburg Pincus completed an $8.4bn take-private of Clearwater Analytics, a US investment management software provider. Apheon is acquiring Belgian business software and managed IT services provider Easi, which serves over 1,500 clients. Thoma Bravo is backing occupational health tech company Padoa, a European provider of safety and prevention software. In the UK, Omni-backed Infoshare acquired data governance and compliance software providers 3C Consultants and Infoboss.

Strategic Investments and Fundraisings

Ohio STRS is setting a private equity pacing plan for FY 2027, aiming to commit up to $1.5bn in new investments. The public pension fund prioritizes liquidity to address a $4bn annual deficit. In Europe, Main Capital Partners closed two software funds totaling over €5.25bn, setting a record for the Netherlands. Abu Dhabi's MGX has raised close to $50bn for an AI fund, intended for rapid expansion in artificial intelligence infrastructure and technology. Menlo Ventures raised $3bn across two new funds to invest in AI startups, building on its reputation as an AI investor.

Exits and Public Offerings

Permira is nearing an exit from womenswear brand Reformation, which has filed for a New York Stock Exchange IPO. JFLCO-backed Doncasters listed on the NYSE under the ticker "DPC." Acorn Capital is selling Berry Aviation for $105m to Bristow Group. In a significant carve-out, Bain Capital is taking a majority stake in Everllence, a provider of propulsion and decarbonization products, from Volkswagen Group in a deal valued at €7.4bn. Tikehau is exiting Aubert & Duval to Airbus and Safran.

Infrastructure and Real Assets

Blackstone is preparing to invest $30bn in Japan's AI data centre infrastructure over the next three to five years. Lincoln International and Apollo highlighted smart city assets as offering long-term growth opportunities. In the realm of specialized infrastructure, Carlyle has launched a dedicated defense and reindustrialization fund.

Venture Capital and Early-Stage Investments

Norwest invested in high-purity water systems firm East Range Group. Agent-testing startup Patronus AI, founded by former Meta AI researchers, landed $50M to build AI-testing digital worlds. The British Business Bank is backing 10 UK VC funds with a £90m pot and is eyeing a stake in the EU's €5bn Scaleup Fund. Lakestar and Seedcamp are backing a voice-controlled drones startup.

Market Trends and Strategic Moves

The secondaries market faces a benchmarking challenge due to a lack of standardization. Fund finance is evolving into a multi-instrument, life-cycle toolkit, driven by institutional investor appetite and bespoke structures. KKR reported accelerating exits, with monetisation exceeding $900m from March 31 to June 24. General Atlantic has tapped tennis champion Novak Djokovic as a global strategic advisor.

Geographic Focus

In Italy, Quadrivio and Capdesia acquired fast-casual pizza chain Alice Pizza, which operates 231 sites. Ambienta signed an exit from French environmental services provider Cap Vert to Gimv and also invested in Italian flavor producer GFF. In Japan, Advent is acquiring JWB from MBK Partners, and Blackstone and Bain Capital are advancing in bidding for Fuji Media's $6.3bn property arm.