Private Equity 3 Days

Last updated: June 28, 2026, 8:30 AM ET

AI and Tech Funding Frenzy Continues

The artificial intelligence sector remains the dominant force in U.S. startup funding, with another spree megadeals this week. Beyond AI, biotechnology also saw significant investment activity. Berlin-based Peec AI is reportedly targeting a $200 million valuation in its latest fundraising round, underscoring the intense investor interest in AI-driven ventures. Agent-testing startup Patronus AI, founded by former Meta AI researchers, is experiencing nearly insatiable demand for its services, raising $50 million to build AI agent stress-testing platforms. This surge in AI investment highlights a broader trend where venture capital is increasingly concentrated in technologies promising significant disruption and future growth.

Private Equity Fundraising and Dealmaking

Private equity firms are actively raising substantial capital and executing a range of deals across various sectors. MGX has raised close to $50 billion for one of the largest AI funds ever, signaling a massive influx of capital dedicated to the technology. Main Capital Partners closed two new software funds totaling over €5.25 billion, marking the largest buyout fundraise in the Netherlands and achieving this in under six months. Carlyle has launched a dedicated defense and reindustrialization fund, Carlyle Defense and Reindustrialization Partners, registered in June, indicating a strategic focus on these sectors.

In M&A activity, Partners Group-backed Sure Werx has acquired Italy's Genesi, a provider of work-at-height and confined space safety products Partners Group-backed SureWerx acquires. Warburg Pincus is set to acquire Network Plus, a UK utility and infrastructure service provider Warburg Pincus to acquire. Archimed, Grovecourt, and Kain Capital are actively involved in radiology deals, while Latticework and Edgehill are backing the acquisition of CDMO brands Radiology deals attract Archimed. Southfield-backed Osprey Landscape Group has acquired commercial landscape services firm Land Graphics Southfield-backed Osprey Landscape Group.

Sector-Specific Investments and Exits

Several private equity firms are making strategic investments and preparing for exits in specialized sectors. L Catterton is exploring a sale of Thorne, a U.S. supplements maker, which could value the business at up to $4 billion, with Unilever reportedly among the interested bidders. 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, opening an exit route for the majority owner Permira nears Reformation exit. Bain Capital and LY Corporation are preparing a binding offer for Kakaku.com, potentially triggering a takeover contest with EQT for the Japanese price-comparison group Bain Capital and LY ready rival bid.

In the digital advertising space, Kline Hill led on Plaza Ventures’ CV for Stack Adapt, a deal considered one of the high-returning Canadian venture deals. Norwest has invested in high-purity water systems firm East Range Group high-purity water systems firm, with the capital infusion earmarked for growth opportunities. CVC is investing in the online chess platform Chess.com, with existing backer General Atlantic to remain a shareholder invest in online chess.

Credit Facilities and Strategic Relationships

Major financial players are structuring significant credit facilities and strategic partnerships. CPP Investments and Blackstone Credit & Insurance have agreed to a strategic relationship with Element Fleet Management, committing to provide flexible funding. In the realm of fund finance, EQT has secured a sustainability-linked facility designed for an era where materiality and impact are paramount sub line material world. The landscape for NAV financing is evolving, with new use cases and a broader range of lenders creating a more flexible yet complex ecosystem NAV financing coming age.

Public Markets and Secondary Transactions

The transition of private companies to public markets and activity in the secondaries market are also notable. JFLCO-backed Doncasters listed on the New York Stock Exchange on June 25, 2026, under the ticker symbol “DPC” JFLCO-backed Doncasters goes public. The lack of standardization in benchmarking secondaries is raising questions about how the strategy should be measured and whether traditional PE benchmarks are adequate Secondaries may benchmarking problem. KKR has indicated an acceleration of exits, with its income from monetization activities exceeding $900 million from March 31 to June 24, 2026, suggesting a pick-up in capital returned to clients KKR flags accelerating exits.

Notable Deal Completions and Investor Intentions

Permira and Warburg Pincus have completed an $8.4 billion take-private of Clearwater Analytics, a U.S. investment management software provider, led by an investor group Permira and Warburg Pincus complete $8.4bn take-private. Quadrivio and Capdesia have acquired Alice Pizza, Italy's largest fast-casual pizza chain Quadrivio and Capdesia acquire Alice Pizza. Platinum Equity has bought Tangent from Sterling, while Reverence Capital is backing CPA firm Eide Bailly Companies sale update.

In terms of investor strategy, Ohio STRS, a public pension fund, is setting its private equity pacing plan for fiscal year 2027, seeking to invest up to $1.5 billion in new commitments Investor Intentions: Ohio STRS. The pension fund is prioritizing liquidity as it addresses a $4 billion per year deficit and hopes to remedy this with its new commitment plan Ohio Teachers prioritises liquidity. Blue Owl Capital is reportedly in advanced talks to acquire a minority stake in the NBA's Cleveland Cavaliers Blue Owl nears minority stake.

Talent and Strategic Advisory

Beyond direct investments, private equity firms are also leveraging high-profile advisors. Tennis legend Novak Djokovic has been tapped by General Atlantic to serve as a global strategic advisor, signaling a move to integrate sports and entertainment expertise into investment strategy. Separately, Revolut has dialed back its remote work policy for graduates Revolut dials back remote, reflecting evolving workplace dynamics.