Private Equity 3 Days

Last updated: July 8, 2026, 2:30 AM ET

Fundraising & Capital Formation

Private equity firms are actively raising capital across various strategies, with several firms announcing significant fund closes and new initiatives. CVC Capital Partners held the final close of its European mid-market fund, CVC Catalyst III, at €3bn, nearly double its initial target. Similarly, Eurazeo surpassed its target for its largest-ever secondaries vehicle, raising €2.3bn. In the credit space, Mubadala Capital opened its $25bn credit platform to outside investors for the first time. Meanwhile, Chemistry Ventures is seeking $500M for its second fund, and Lovable is reportedly in talks to raise $300M at a $13.2bn valuation. Rest, Australia's pension fund, is increasing its private markets exposure, with a focus on PE and infrastructure.

Deal Activity: Buyouts & Acquisitions

The past three days have seen a flurry of acquisition activity across diverse sectors, with private equity firms actively deploying capital. Lone Star Funds agreed to acquire Conti Tech from Continental for €4bn, a significant deal in the industrials sector. Blackstone is set to acquire Dresser Utility Solutions from First Reserve, marking the first deal for its new energy transition fund. EQT is acquiring the biosurgery business of Corza Medical from GTCR, while CVC has agreed to sell D-Marin to Infra Via. In the technology sector, Thoma Bravo closed a merger combining Hypergene with Stratsys, and Bridgepoint backed Skello with a €200M minority investment.

Sector-Specific Investments

Private equity continues to target specific growth sectors, with notable activity in energy, technology, and services. I Squared is acquiring Milestone Environmental from SK Capital, a firm specializing in waste disposal for oil and gas operations. Permira made a strategic investment in Iberian engineering group Quadrante, its second deal under its Energy Transition strategy. In HR technology, Lightyear is investing in Corestream, and Bridgepoint backed AI-powered HR management software provider Skello with €200M. The AI sector continues to attract significant capital, with Norm raising $120M at a $1.2B valuation.

Consolidations & Platform Builds

Several deals involved building or consolidating platforms within specific industries. Wynnchurch-backed Principal Industries acquired GENLED Brands, a provider of LED components. Agellus Capital-backed CompassMSP acquired managed IT and cybersecurity firm The Logic Group, and Renovus-backed TJP acquired life sciences commercial operations firm FX2 Virtual. Arlington rolled out a new naval services platform, Highwater, by combining portfolio companies Eptec Defence and AMP United. Unity Partners acquired Meaden & Moore Advisors, a professional services firm, with plans for further add-on acquisitions.

Market Trends & Investor Sentiment

Market commentary this week points to a recalibration of investor strategies and a focus on disciplined deployment. Scott Hart of Step Stone Group noted that "bad habits from the era of ‘easy money’" are surfacing, emphasizing that the private equity model is not broken but that the "illusion of uniform success is." Despite economic uncertainty, VC LPs are cautioned against concentrating investments solely in megafunds. In the secondaries market, Patrick Knechtl of Patria highlighted that dealflow continues to unlock as DPI issues persist, with a focus on smaller-sized secondaries. CVC successfully closed its mid-market fund at €3bn, nearly doubling its target, indicating continued investor appetite for well-defined strategies.

Personnel & Strategic Appointments

Firms are also bolstering their teams with strategic hires to support growth and deal execution. AEA Investors tapped Adam Biren as partner and head of capital formation – Americas. Bridge Growth appointed Prosper Vignone as senior principal to its investment team. Halifax brought on Rob Holcomb as an operating executive. These appointments signal a continued focus on strengthening operational capabilities and capital formation efforts within the private equity sector.

Sector-Specific Deal Flow

Energy & Infrastructure: In a significant energy transition deal, Blackstone agreed to acquire Dresser Utility Solutions from First Reserve. Foresight is eyeing industrial decarbonization opportunities, with partner Dan Wells noting a strong flow of opportunities across decentralized energy systems. Avance backed infrastructure firm Lexxel, with founders reinvesting alongside the firm.

Industrials & Manufacturing:

Lone Star Funds is set to acquire Conti Tech, the industrial materials arm of Continental, in a €4bn deal. Capmont is carving out Dyneon, a fluoropolymer manufacturer, from 3M Deutschland. Rotunda-backed RMH Systems snapped up material handling integrator Top Shelf.

Consumer & Retail:

Sentinel scooped up cake decorations supplier Deco Pac from Kohlberg. Apheon acquired French frozen snack group Alma, with plans for expansion. Thirty-5 Capital-backed Paddletek acquired performance paddle company PIKKL.

Healthcare & Life Sciences:

EQT is acquiring the biosurgery business of Corza Medical from GTCR. NMS-backed Surplus Solutions acquired health tech firm DCM Bio Services. Summit Partners exited Dreampath Diagnostics to Halma.

Technology & Software:

Bridgepoint made a €200M minority investment in Skello, an AI-powered HR management software provider. Thoma Bravo merged Hypergene with Stratsys, combining FP&A and GRC software platforms. Thought Machine reached $100M in ARR and aims to double it before going public.

Services & Professional Services:

Unity Partners acquired Meaden & Moore Advisors, a professional services firm. Capitol Meridian snapped up national security infrastructure firm Westway Enterprises.

Sports & Entertainment:

Blue Owl Capital acquired a minority equity stake in the Cleveland Cavaliers through its Home Court Partners fund. Bruin Capital is selling golf simulation company Full Swing to Versant Media for $530M.

Deeptech & AI Startups

The venture capital landscape continues to see significant investment in deeptech and AI startups, with several companies achieving substantial funding rounds and valuations. Norm, an AI law startup, raised $120M in a Series C round led by Khosla Ventures, valuing the company at $1.2 billion. Hive raised $15M for its "silicon brain" technology, which aims to reduce the hourly cost of running machines by 80%. IQM, a quantum computing firm, saw its investors applaud its "very good" debut on public markets. Notably, Tech Crunch Venture reports that almost 90 new unicorns have been minted so far this year, with AI igniting an investor frenzy. Sifted also highlighted women building deeptech startups in its coverage of award-winning women in deeptech.

Cleantech Funding & Energy Transition

Cleantech startup funding has stabilized, with investors pouring $15 billion into seed- through growth-stage rounds in the first half of the year, according to Crunchbase News Cleantech Startup Funding. This stability comes as energy demand grows. Foresight is actively seeking opportunities in industrial decarbonization and decentralized energy systems, noting that underlying structural drivers remain strong despite macroeconomic headwinds. Permira made its second Energy Transition deal by backing Iberian engineering group Quadrante.