Private Equity 3 Days

Last updated: July 1, 2026, 5:30 PM ET

Private Equity Dealmaking & Fundraising

The private equity sector saw significant deal activity and fundraising announcements, with a particular focus on AI infrastructure and renewable energy. KKR agreed to acquire the North American operations of EDF power solutions for approximately $4.2 billion, potentially including further payments of up to $390 million. This move marks a substantial bet on clean energy, with KKR also taking control of a $1.3 billion renewable energy platform in South Korea in partnership with SK to establish the country's largest clean power business. In a parallel development, Ardian is bundling secondaries stakes into a $1 billion debt vehicle, leveraging the booming market for collateralized fund obligations. Meanwhile, Hamilton Lane closed its sixth direct equity fund at $3.8 billion, its largest to date, alongside its Equity Opportunities Fund VI.

Sector-Specific Acquisitions

Acquisitions spanned various sectors, from automotive services to food ingredients. Monomoy Capital acquired the quick lube and car service franchise Jiffy Lube for $1.3 billion from a subsidiary of Shell USA. In the automotive distribution space, WILsquare-backed Automotive Color & Supply expanded its reach by acquiring Ohio Paint Supply. The food industry saw CVC Capital Partners agree to acquire Italian B2B food-ingredients manufacturer Irca from Advent for an undisclosed sum, with the founding family reinvesting. Bridgepoint is entering the U.S. real estate market with its $1.39 billion acquisition of Florida-based property investment platform Kayne Anderson Real Estate.

Venture Capital & Startup Funding

Venture capital saw new firms launch and existing ones raise funds, with a prominent focus on AI. Ashton Kutcher is departing Sound Ventures to launch a new VC firm with Morgan Beller, signaling a continued focus on concentrated bets in AI labs and the underlying infrastructure. Tapestry VC closed its third fund at $80 million, aiming to back repeat European founders and capitalize on anticipated AI exits. Ex-Speedinvest partner Rick Hao launched a $50 million solo GP fund for deeptech startups. In a notable funding round, Deep Mind and Gensyn angels backed Xylo in a £2.8 million raise. The AI sector continues to attract significant capital, with Meta and OpenAI alumni seeking $400 million for a new AI lab.

Healthcare & Life Sciences

The healthcare sector experienced a wave of M&A and investment, reflecting ongoing opportunities. FPE is backing BMA, a decision platform for utility companies, while also noting new avenues for private equity medical devices. Cathay Capital launched Ascendia Autism Care, a platform that begins operations with 20 centers across eight states. THL-backed Headlands Research acquired Clinical Trials Research, a clinical trial site network. In a move indicating a stable condition for healthcare investments, Martis Capital backed healthcare marketing agency Deerfield Group.

Infrastructure & Industrials

Infrastructure and industrial services saw several strategic moves. Warburg Pincus agreed to acquire UK utility and infrastructure service provider Network Plus from OMERS Private Equity. ICG Infra is backing Paulo Duarte Group, a temperature-controlled and specialized freight fleet operator across Portugal and Spain. CVC Capital Partners is acquiring Italian industrial automation group Clevertech, with the founding family reinvesting as a minority shareholder. Ardian plans to invest over €3 billion in Nordic data centers through its portfolio company Verne.

Fundraising & Investor Activity

Fundraising efforts continued across the private equity spectrum, with LPs showing strong conviction. Hamilton Lane's sixth direct equity fund closed at $3.8 billion, its largest to date. Generation IM corralled $1 billion for its long-hold private equity strategy, emphasizing that conventional holding periods may not be sufficient for segment transformation. In a significant development for institutional investors, the MWRA is issuing an RFP for a private equity buyout mandate, planning to commit up to $20 billion. The latest Global Investor 150 ranking reveals that the 10 largest investors have combined allocations of $1.1 trillion to private equity, with an average allocation of 21%.

Technology & Software

Technology and software companies were active targets for investment and acquisition. Volpi Capital took a majority stake in archiving software firm kgs, which provides legally compliant document archiving for enterprise SAP environments. Truelink invested in Horwitz, a firm focused on servicing complex commercial and industrial facilities in the Midwest. Parabellum Investments acquired data management platform Crux Informatics, which boasts over 200 data providers including Morningstar and Moody's Analytics.

Other Notable Transactions

Several other transactions closed across diverse industries. KKR is acquiring the US and Canada operations and assets of EDF power solutions for $4.2 billion. Peak Rock sold geospatial services company SAM to New Mountain, having acquired SAM in 2021. Investcorp-backed Sunrise Produce acquired Family Tree Produce, a wholesale produce distribution company in Southern California. Wynnchurch Capital exited its aerospace components business, PFG, to HIG Capital. Triton entered exclusive talks to acquire Bureau Veritas' fuels testing and inspection business for €470 million, a sector attracting significant private equity interest.

Market Trends & Investor Sentiment

Market trends indicate a growing comfort with fund financing among secondaries investors, who are increasingly seeking it to optimize returns. The ILPA updated its guidance for continuation vehicles to reflect evolving market. Despite market turbulence, LPs on the Global Investor 150 ranking demonstrate strong conviction in private equity. The lower mid-market is showing resilience, driven by operational improvement, with cash discipline and pricing power being rewarded. The tech sector is seeing a push for better data infrastructure as firms grapple with the effective use of AI.

Venture Capital & Spinouts

Venture capital continues to see new initiatives and a focus on fostering future founders. Ashton Kutcher is leaving Sound Ventures to launch a new firm with Morgan Beller. Tapestry VC closed an $80 million third fund to invest in repeat European founders. Ex-Speedinvest partner Rick Hao launched a $50 million solo GP fund for deeptech startups. The University of Edinburgh is seeing its spinouts looking to raise capital.

Corporate & Operational Moves

Beyond direct investments, firms are making operational and strategic changes. Blue Wolf appointed Vanessa Generelli as CFO, with the former CFO remaining as partner and chief compliance officer. Inflexion announced several partner promotions, including Sachin Mitra, James Stevens, and Freddy West. Strategic Value Partners appointed Jean Baptiste de Boissieu as managing director to its European investment team.

Tech & AI Developments

The artificial intelligence space is witnessing rapid developments in computing costs and complexity, prompting companies to manage these challenges. GV's Dave Munichiello discussed Qualcomm's modular purchases and the shift in AI software. Startups are exploring innovative models, such as Omnea, an AI software company offering employees $250,000 to plan their next startup. The Deep Mind trio behind a poker AI are now generating revenue for quant hedge funds with their Prague-based AI lab, Equi Libre Technologies, valued at over $500 million. There is also a push for better data infrastructure and direct connections to financial data sources to improve AI applications.

Fundraising & Investor Allocations

Fundraising remains a key activity, with significant capital being deployed. Hamilton Lane closed its sixth direct equity fund at $3.8 billion, marking its largest to date. Generation IM is corralling $1 billion for a long-hold private equity strategy, with partners believing conventional holding periods may not be sufficient for transformative segment change. The MWRA plans to commit up to $20 billion for a private equity buyout mandate. The Global Investor 150 ranking shows that the top 10 investors have a combined $1.1 trillion allocated to private equity, with an average allocation of 21%.

Sector-Specific Investments

The medical device sector is presenting new opportunities, with Houlihan Lokey's Allan Burton noting long-term trends supporting growth for independent service organizations focused on large, hospital-based equipment. The pressing global need for healthcare professionals is a tailwind for PE investors in medical education. In a significant move for the energy sector, San Mateo Midstream is acquiring EnCap-backed Cardinal Midstream for $752 million.

Geographic Focus

Geographic expansion and focus are evident. Bridgepoint is entering the U.S. real estate market with its acquisition of Kayne Anderson Real Estate for approximately $1.39 billion. Ardian plans to invest over €3 billion in Nordic data centers through its portfolio company Verne. France is seeking to block the UK's role in the €5 billion EU Scaleup Fund, sparking backlash and highlighting political dynamics in European funding initiatives. Spain is emerging as a dynamic tech ecosystem in Europe.

Deal Exits & Portfolio Management

Several firms completed exits and portfolio adjustments. IVEST and Cloverlay are selling their stake in the Care Bears franchise to Authentic Brands Group after quadrupling its business over three years. Genesis Capital exited GTH Catering, a corporate catering services provider. Xenon Private Equity sold Solana, an Italian tomato-processing group, to Investindustrial-backed La Doria, exiting the business just over two years after acquiring it. Wynnchurch Capital exited aerospace components business PFG to