Private Equity 3 Days

Last updated: July 8, 2026, 5:30 AM ET

Private Equity Dealmaking & Fundraising

Private equity firms are actively pursuing a range of opportunities across sectors, with defense technology and AI-driven software showing particular promise. Tikehau Capital is actively working on several defense tech deals, anticipating its next transaction later this year or in early 2025, while acknowledging that increased defense budgets do not automatically translate to higher production volumes for conflict readiness. In the venture capital space, Chemistry Ventures is raising $500 million for its second fund, and AI law startup Norm secured $120 million in a Series C round led by Khosla Ventures, achieving a $1.2 billion valuation and underscoring the investor frenzy around artificial intelligence.

Several firms have been active with acquisitions and divestitures. Wynnchurch-backed Principal Industries acquired GENLED Brands, a provider of LED components, while Agellus Capital-backed CompassMSP purchased managed IT and cybersecurity firm The Logic Group. Renovus-backed TJP acquired life sciences commercial operations firm FX2 Virtual, and HCPI sold Epicurean Butter to Solina USA. In a significant industrials deal, Lone Star Funds agreed to purchase Conti Tech, Continental's industrial materials division, for €4 billion. I Squared is set to acquire Milestone Environmental from SK Capital, which operates waste disposal facilities for oil and gas operations. Capmont plans to carve out Dyneon, a fluoropolymer manufacturer, from 3M Deutschland, serving sectors like semiconductors and aerospace.

Sector-Specific Investments

AI continues to be a dominant theme, with investors assessing its impact on various industries. Amadeus Capital Partners chief executive Anne Glover believes AI will render some Software-as-a-Service providers obsolete. Meanwhile, Hive raised $15 million for its AI hardware, claiming an 80% reduction in hourly machine operating costs. The cleantech sector saw $15 billion invested in seed through growth-stage rounds in the first half of the year, indicating a stabilization of funding as energy demand grows Crunchbase News. Foresight is identifying opportunities in decentralized energy systems, noting that higher financing costs are influencing deal pricing but underlying structural drivers remain strong. Permira is backing Iberian engineering group Quadrante with its second Energy Transition deal, and Blackstone made its first investment from its new energy transition fund by acquiring Dresser Utility Solutions from First Reserve.

The healthcare and life sciences sectors also saw substantial activity. Summit Partners exited Dreampath Diagnostics to Halma, a company that designs systems for pathology labs. NMS-backed Surplus Solutions acquired health tech firm DCM Bio Services, and Renovus-backed TJP acquired life sciences commercial operations firm FX2 Virtual. In a move reflecting growing interest in professional services, Unity Partners acquired Meaden & Moore Advisors, a forensic and accounting services firm, with plans for further add-on acquisitions. Capitol Meridian acquired national security infrastructure firm Westway Enterprises to support its expansion into classified work for commercial innovators.

Fundraising and Investor Strategies

Fundraising efforts remain active, albeit with evolving strategies. CVC Capital Partners closed its European mid-market fund, Catalyst III, at €3 billion, significantly exceeding its target. Eurazeo surpassed its target for its largest-ever secondaries vehicle, raising €2.3 billion. Patria successfully closed its secondaries fund at $677 million, focusing on smaller deals to differentiate itself amid persistent distribution issues. In contrast, some LPs are concentrating investments in megafunds, a strategy that Crunchbase News suggests might sacrifice higher potential returns for perceived safety in uncertain economic conditions. Mubadala Capital has opened its $25 billion credit platform to outside investors, a significant move for the Abu Dhabi-based firm.

Investor intentions highlight a growing interest in specific asset classes. Australian pension fund Rest is increasing its private markets exposure, with a focus on private equity and infrastructure. Singaporean family office JRT Partners intends to increase its allocation to secondaries. The trend of sports assets becoming a new alternative investment class is evident, with Blue Owl Capital acquiring a minority stake in the Cleveland Cavaliers through its Home Court Partners fund, its sixth NBA franchise backing. Meanwhile, the importance of trust between managers and investors is being emphasized in fundraising discussions, with a focus on fund structure being secondary to the relationship Asante Capital.

Market Trends and Personnel Moves

The private equity model is proving resilient, though the era of "easy money" is fading, leading to a more disciplined approach to investments Step Stone Group. A notable trend is the increasing appetite for accounting firms, with Unity Partners acquiring Meaden & Moore Advisors. In the HR technology space, Lightyear is investing in Corestream to support its growth. Bridgepoint has backed AI-powered HR management software provider Skello with a €200 million minority investment.

Several firms have made key hires to bolster their operations. AEA Investors appointed Adam Biren as partner and head of capital formation for the Americas, based in its New York office. Bridge Growth appointed Prosper Vignone as senior principal to its investment team, and Halifax tapped Rob Holcomb as an operating executive. These appointments signal continued investment in talent and operational expertise across the private equity landscape.

In other notable transactions, EQT is acquiring the biosurgery business of Corza Medical from GTCR, including the Tacho Sil product portfolio. CVC is selling its D-Marin marina operations across nine countries to Infra Via. Advent has taken a 7% stake in Avio, the Italian space and defense propulsion group, to support its expansion. Apheon acquired French frozen snack group Alma, with plans for expansion into Benelux, Germany, and the UK. Thirty-5 Capital-backed Paddletek acquired performance paddle company PIKKL, and Argosy took a controlling stake in logistics firm K&L Freight Management. Sentinel acquired cake decorations supplier Deco Pac from Kohlberg. Bruin Capital is selling golf simulation company Full Swing to Versant Media for $530 million. Warburg Pincus is exiting Singular Bank, a private banking advisory firm, to a consortium led by ING.