Private Equity 3 Days

Last updated: July 7, 2026, 5:30 AM ET

Dealmaking & Fundraises

Private equity firms continue to navigate a complex fundraising and dealmaking environment, with several large funds closing and strategic investments being made across diverse sectors. Eurazeo has successfully closed its fifth secondaries program at €2.3 billion, surpassing its €2 billion target and marking its largest-ever secondaries vehicle. Similarly, CVC Capital Partners finalized its European mid-market fund, Catalyst III, at approximately €3 billion, nearly doubling its initial target. In a notable transaction, Lone Star Funds agreed to acquire Conti Tech, the industrial materials division of Continental, for €4 billion, signaling significant activity in the industrials sector. Simultaneously, Blackstone is acquiring Dresser Utility Solutions from First Reserve, marking the inaugural deal for its new energy transition fund.

Sector-Specific Investments

The food and beverage sector remains a focal point for private equity, with Apheon acquiring French frozen snack group Alma, aiming for expansion into Benelux, Germany, and the UK. Novo Holdings is also actively expanding its planetary health portfolio and is considering allocating capital to private equity general partners, with a focus on energy and Asian markets. In the realm of technology and software, Thoma Bravo has merged Hypergene, a financial planning and analysis platform, with Stratsys, a governance, risk, and compliance software provider. EQT is set to acquire Corza Medical's biosurgery business, which includes Tacho Sil for bleeding control. Meanwhile, Bridgepoint has made a €200 million minority investment in Skello, an AI-powered HR management software provider serving frontline workforces across Europe.

Technology & Innovation Focus

A significant portion of recent private equity activity is directed towards technology and innovation. Advent has taken a 7% stake in Italian space and defense propulsion group Avio to support its expansion in solid rocket motor technology. NMS-backed Surplus Solutions has acquired health tech firm DCM Bio Services, bolstering its position in equipment lifecycle management for the life sciences industry. The burgeoning field of AI is also attracting capital, with Hive raising $15 million for its "silicon brain" technology aimed at reducing machine operating costs. Google has backed Proxima Fusion in a €411 million funding round. Separately, IQM investors applauded its public market debut, while Thought Machine has achieved $100 million in annual recurring revenue and aims to double it before a potential public offering.

Energy Transition & Infrastructure

The energy transition and infrastructure sectors are seeing increased private equity interest and investment. Blackstone Energy Transition Partners is acquiring Dresser Utility Solutions, a supplier of natural gas and water measurement and control equipment. Permira is backing Iberian engineering group Quadrante with a strategic investment, marking its second deal under its Energy Transition strategy. Foresight is actively pursuing opportunities in decentralized energy systems, noting a strong flow of deals despite macroeconomic headwinds. Avance has invested in infrastructure firm Lexxel, with the founders and management team reinvesting alongside the firm.

Divestitures & Exits

While new investments are prominent, private equity firms are also actively divesting assets. Summit Partners has exited Dreampath Diagnostics, a provider of pathology lab sample tracking systems, to Halma. CVC Capital Partners has agreed to sell its stake in D-Marin, a premium marina operator, to Infra Via Capital Partners. Warburg Pincus is exiting Singular Bank, a private banking and wealth advisory firm, with ING leading a consortium to acquire its stake. Additionally, Advent-backed Cobham Ultra is set to sell its undersea warfare solutions provider, Ultra Maritime, for $3.45 billion.

Market Trends & Investor Intentions

Broader market trends indicate a cautious but strategic approach from investors. Eurazeo surpassed its target for its fifth secondaries vehicle, raising €2.3 billion, more than double its previous fund. JRT Partners is looking to increase its exposure to secondaries, signaling growing interest in this segment of the market. Discussions around fundraising highlight the importance of trust between managers and investors, suggesting a shift from size to relationship-driven capital allocation. In the cleantech sector, seed- to growth-stage funding stabilized in the first half of the year, with $15 billion invested in companies focused on sustainability and electric vehicles. Conversely, some venture capital LPs have concentrated investments in megafunds, potentially sacrificing higher returns for perceived safety. The Chinese private equity market is undergoing a reset, potentially creating more disciplined opportunities for investors who retain conviction.

Specific Deals & Valuations

Several specific transactions highlight current valuations and strategic moves. Bruin Capital plans to sell golf simulation company Full Swing to Versant Media for $530 million. Argosy has taken a controlling stake in logistics firm K&L Freight Management, which specializes in time-sensitive freight services for various industries. HIG is acquiring a majority stake in Germany's Terras Group, an infrastructure engineering and construction services provider. In a significant potential take-private, Castlelake has secured board backing for a proposal to take easy Jet private in a deal valued at approximately $7.3 billion. Capmont is carving out Dyneon, a fluoropolymer manufacturer, from 3M Deutschland, with Dyneon's products serving critical sectors like semiconductors and aerospace.