Private Equity 3 Days

Last updated: July 6, 2026, 2:30 PM ET

Fundraising & Fund Closures

Private equity firms are navigating a complex fundraising environment, with managers emphasizing trust and established relationships over sheer fund size. This comes as some investors are re-evaluating their strategies, with the Singaporean family office JRT Partners indicating an intention to increase exposure to the secondaries market. Meanwhile, seeking experienced investment consultants to aid in due diligence across various asset classes, signaling a demand for specialized expertise. Fraser van Rensburg and Warren Hibbert of Asante Capital noted that while fund structure is important, "the trust between a manager and its investors matters more" in the current climate. In a significant development for the secondaries market, Eurazeo successfully closed its fifth programme at €2.3 billion, exceeding its €2 billion target. Similarly, CVC Capital Partners finalized its Catalyst III fund at approximately €3 billion, nearly doubling its mid-market target for European investments.

Energy Transition & Infrastructure

The energy transition continues to be a significant focus for private equity, with several deals highlighting this trend. Blackstone acquired Dresser Utility Solutions, a supplier of natural gas and water infrastructure equipment, marking the first transaction for its new energy transition fund. This acquisition was confirmed by Blackstone Energy Transition Partners, which is buying the Houston-based company from First Reserve. In a separate energy transition investment, Permira is backing the Iberian engineering group Quadrante, marking the second deal under its energy transition strategy. The firm's move into infrastructure also saw Avance invest in the firm Lexxel, with Lexxel's founders reinvesting alongside the firm and retaining leadership. Further demonstrating a commitment to industrial decarbonization, Foresight is actively seeking opportunities in decentralized energy systems, despite ongoing macroeconomic uncertainties and higher financing costs. HIG Capital has agreed to acquire a majority stake in Germany's Terras Group, a provider of infrastructure engineering and construction services across mobility, energy, and digital sectors in the DACH region.

Divestments & Portfolio Management

A number of portfolio companies are changing hands as private equity firms optimize their holdings. CVC is selling its stake in premium marina operator D-Marin to Infra Via Capital Partners. D-Marin operates 28 marinas across nine countries in the EMEA region, serving over 50,000 customers annually with more than 14,300 berths. In a significant defense sector divestment, Advent-backed Cobham Ultra for $3.45 billion. The London-headquartered company provides undersea warfare solutions. sell golf simulation company to Versant Media for $530 million. Versant Media owns cable networks including CNBC and the Golf Channel. Warburg Pincus is exiting, a private banking specialist, selling its stake to a consortium led by ING.

Sector-Specific Investments & Strategic Deals

Private equity firms are actively pursuing opportunities across various sectors, with a notable emphasis on technology and industrials. Lone Star Funds is acquiring Conti Tech from Continental in a €4 billion industrials deal. Conti Tech is the rubber and thermoplastics unit of Continental, with products serving sectors such as semiconductor, medical technology, and electric vehicles. In the software space, Bridgepoint is backing Skello with a €200 million minority investment. Skello provides AI-powered HR management software for frontline workforces, serving 25,000 businesses across Europe. EQT is acquiring parking technology group Orikan as part of its mid-market expansion in the Asia Pacific region. The Melbourne-based company offers integrated parking, enforcement, and compliance technology. Meanwhile, a $67 billion pension fund is reportedly seeking software bargains, indicating potential opportunities in this segment as highlighted in a recent side letter. The cleantech sector is also seeing stabilized funding, with investors pouring $15 billion into seed-through-growth rounds in the first half of the year for companies focused on sustainability.

Market Dynamics & Investor Sentiment

The private equity model itself is facing scrutiny, with some observers noting that the "illusion of uniform success is fading" in the post-easy money era. Scott Hart, partner and chief executive at Step Stone Group, suggested the model is not broken but requires a recalibration of expectations. This sentiment may be influencing investor behavior, as some venture capital limited partners are reportedly concentrating investments in megafunds, mistaking perceived safety for better returns and potentially sacrificing higher upside opportunities amid economic uncertainty. In Japan, the Government Pension Investment Fund (GPIF), the world's largest pension fund, saw its private equity portfolio grow by approximately $1.4 billion year-on-year, reaching a total value of $1.8 trillion, despite a "challenging" market environment as per its latest annual report. The AI boom is also driving startup valuations, with nearly 90 new unicorns minted so far this year, fueled by investor frenzy in the technology sector according to recent reports.

Public Market & Take-Private Activity

While private equity activity is robust, there are also significant moves involving public companies and potential take-private transactions. set to carve out, a fluoropolymer manufacturer serving critical sectors like semiconductors and electric vehicles. In a potential major take-private, Castlelake has secured easy Jet's board backing for a deal that could value the UK budget carrier at around $7.3 billion. This move by Castlelake represents a significant transaction in the European aviation sector.