Private Equity 3 Days

Last updated: June 28, 2026, 2:30 AM ET

AI & Venture Capital Driving Megadeals

The artificial intelligence sector continues to dominate U.S. startup funding, with several megadeals announced this week. Beyond AI, biotechnology also saw significant investment. Berlin-based Peec AI is reportedly targeting a $200 million valuation in its latest fundraising round targeting $200m valuation. Meanwhile, MGX is nearing a close on nearly $50 billion for what is shaping up to be one of the largest AI-focused funds ever assembled raises close to $50bn. Elsewhere, agent-testing startup Patronus AI, founded by former Meta AI researchers, is experiencing "nearly insatiable demand" and has secured $50 million to build AI agent stress-testing platforms lands $50M. The broader trend of AI driving venture capital is evident, with many of the week's largest funding rounds centering on the technology AI drives another spree.

Private Equity Dealmaking & Fundraises

Private equity firms have been active on multiple fronts, from strategic acquisitions to substantial fundraises and exits. Partners Group-backed Sure Werx has acquired Italy’s Genesi, a provider of safety products for work-at-height and confined spaces acquires Italy’s Genesi. In the UK, Warburg Pincus is set to acquire Network Plus, a utility and infrastructure service provider acquire Network Plus. Main Capital Partners has closed two new software funds totaling over €5.25 billion, marking the largest private equity buyout fundraise in the Netherlands' history and achieving this in less than six months closes record €5.25bn.

Carlyle has launched a new dedicated fund, Carlyle Defense and Reindustrialization Partners, registered in June, signaling a strategic focus on these sectors launches dedicated defence. In a significant transaction, a Permira and Warburg Pincus-led investor group has finalized the $8.4 billion take-private of Clearwater Analytics, a U.S. investment management software provider complete $8.4bn take-private. Bain Capital and LY Corporation are preparing a rival bid for Japan's Kakaku.com, challenging EQT for the price-comparison group rival bid for Kakaku.

Exits & Portfolio Management

Several firms are exploring exits or have recently completed them. L Catterton is reportedly exploring a sale of Thorne, the U.S. supplements maker, with a potential valuation of up to $4 billion, attracting interest from bidders including Unilever lines up Thorne exit. Permira is nearing an exit from Reformation, the sustainable womenswear brand, which has filed for an initial public offering on the New York Stock Exchange after approximately seven years of ownership nears Reformation exit. The Sterling Group is selling sustainable building products company Tangent to Platinum Equity Platinum buys Tangent. In another exit, Ambienta has sold its stake in French environmental services provider Cap Vert to Gimv signs exit Cap Vert. Tikehau has agreed to exit Aubert & Duval, with plans to sell the company to Airbus and Safran Aubert & Duval exit.

KKR has indicated an acceleration in its exit activity, reporting income from monetizations exceeding $900 million between March 31 and June 24, 2026 flags accelerating exits. JFLCO-backed Doncasters has successfully listed on the New York Stock Exchange under the ticker "DPC" goes public.

Sector-Specific Investments & Strategies

Private equity's reach extends across a diverse range of sectors, with recent deals highlighting specific industry focuses. In the radiology sector, Archimed, Grovecourt, and Kain Capital are showing interest, while Latticework and Edgehill are backing the acquisition of CDMO brands Radiology deals attract. CVC is set to invest in the online chess platform Chess.com, with existing backer General Atlantic retaining a shareholder stake invest online chess.

In the fleet management sector, CPP Investments and Blackstone Credit & Insurance have entered a strategic relationship with Element Fleet Management, committing to provide flexible funding anchor Element Fleet funding. supplements market saw L Catterton explore an exit of Thorne at a significant valuation lines up Thorne exit. In Italy, Quadrivio and Capdesia have acquired Alice Pizza, the country's largest fast-casual pizza chain acquire Alice Pizza.

Norwest has invested in East Range Group, a firm specializing in high-purity water systems, aiming to fund further growth and capability expansion invests high-purity water. Southfield-backed Osprey Landscape Group has acquired commercial landscape services firm Land Graphics snaps up commercial landscape. Bessemer-backed Mas Restaurant Group, a Taco Bell franchisee, has sold 43 of its Ohio locations to Southpaw sells 43 Ohio locations. Omni-backed Infoshare has acquired 3C Consultants and Infoboss, providers of data governance and compliance software picks up 3C Consultants.

Venture Capital & Emerging Companies

Venture capital continues to fuel early-stage companies, with a notable focus on AI and innovative technologies. Plaza Ventures' investment in digital advertising company Stack Adapt is considered one of the highest-returning Canadian venture deals, providing the firm with extended engagement amid AI disruptions leads on CV. Lakestar and Seedcamp are backing a startup developing voice-controlled drones voice-controlled drones startup.

In the realm of financial services, Park South Ventures-backed Infinite has acquired Greentarget UK, a financial and professional services communications agency picks up Greentarget UK. Reverence Capital is backing the CPA firm Eide Bailly backs CPA firm Eide.

Investor Intentions & Market Dynamics

Public pension funds are actively planning their private equity allocations. Ohio STRS is setting its private equity pacing plan for fiscal year 2027, intending to commit up to $1.5 billion to new private equity investments sets private equity pacing. The fund is prioritizing liquidity as it addresses a $4 billion per year deficit, hoping its new commitment plan will help remedy the cash drain prioritises liquidity.

The secondary market faces potential challenges with benchmarking, raising questions about measurement standards and the suitability of traditional private equity benchmarks may benchmarking problem. Sustainability-linked fund finance is evolving, with EQT securing a facility that aligns with materiality and impact considerations material world. NAV financing is also maturing, with evolving use cases and a broader lender base creating a more adaptable, albeit complex, ecosystem NAV financing coming age.

Strategic Partnerships & Personnel

Tennis star Novak Djokovic has taken on a new role as a global strategic advisor for private equity firm General Atlantic advisor private equity firm. In a significant real estate transaction in Japan, Blackstone and Bain Capital have advanced to the second round of bidding for Fuji Media Holdings' property arm, a deal that could become the largest property transaction in Japan's history, valued at approximately $6.3 billion advance in bidding.

Other Notable Deals & Trends

HSG has completed its acquisition of the luxury footwear brand Golden Goose, with Temasek and its asset manager True Light Capital joining as minority shareholders completes acquisition Golden Goose. In a move that could signal broader industry trends, N26 has achieved profitability following a leadership shakeup hits profitability. Brent Hoberman has commented on the UK tech sector's outlook post-Starmer, raising concerns about potential tax policies UK tech post-Starmer. Smart city assets are experiencing strong growth and leading to "very strong outcomes" from a valuation perspective, according to Lincoln International smart cities offer growth.

Harbour View has acquired a publisher's share of songs written by the Wolf Cousins collective, which includes notable songwriters like Ilya Salmanzadeh and Oscar Holter acquires publisher’s share. Blue Owl Capital is reportedly in advanced discussions to acquire a minority stake in the NBA's Cleveland Cavaliers nears minority stake. The $60 billion acquisition of Anysphere by SpaceX is a headline deal, but numerous other multibillion-dollar M&A transactions have also occurred this year, contributing to a potentially record year for U.S. startup M&A record startup M&A year.

The drive for AI adoption is also being shaped by operators, with new capabilities and vendors constantly evolving, thereby increasing execution demands private equity AI advantage. European tech founders are focusing on scaling AI, with some prioritizing long-term growth over immediate funding rounds scale AI Europe. The venture industry is also being urged to consider strategies for funding more Black founders, with six investors offering advice on how to support overlooked entrepreneurs fund More Black Founders.