Private Equity 3 Days

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

Fundraising & Fund Activity

Firms are actively raising capital across various strategies, with CVC Capital Partners closing its European mid-market fund, Catalyst III, at €3bn, nearly double its initial target CVC closes mid-market fund. Eurazeo also surpassed its target, raising €2.3bn for its largest-ever secondaries vehicle, Fund V Eurazeo surpasses target. Chemistry Ventures, founded by alumni from prominent VC firms, is seeking $500M for its second fund VC firm Chemistry raising. Meanwhile, Mubadala Capital has opened its $25bn credit platform to outside investors for the first time Mubadala Capital opens. Investor intentions signal a growing appetite for secondaries, with JRT Partners planning to increase exposure to this market Investor Intentions: JRT Partners. Fraser van Rensburg and Warren Hibbert of Asante Capital emphasize that while fund shape matters, trust between managers and investors is paramount in the current fundraising environment The new rules.

Deal Activity & Sector Focus

Private equity firms have been active across a broad spectrum of sectors, with notable activity in healthcare, technology, and industrials. Frazier Healthcare is acquiring health tech firm Matrix Care from Resmed Frazier Healthcare acquire. In the industrial space, Lone Star Funds is set to acquire Conti Tech from Continental for €4bn, a deal valued at €4bn Lone Star agrees acquire. Blackstone has agreed to acquire Dresser Utility Solutions from First Reserve as the first deal for its new energy transition fund Blackstone buys Dresser. EQT is acquiring the biosurgery business of Corza Medical from GTCR EQT buys Corza Medical's, and also plans to acquire parking technology group Orikan as part of its Asia Pacific expansion EQT to acquire parking.

Technology & AI Investments

The artificial intelligence boom continues to drive significant investment, with AI law startup Norm raising $120M at a $1.2 billion valuation AI law startup Norm. Amadeus Capital Partners' Anne Glover noted that AI will transform the Saa S landscape, potentially rendering some providers obsolete AI will turn some. Hive has raised $15M for its "silicon brain" technology promising to cut operational costs by 80% Hive raises $15m. Elsewhere in tech, Thought Machine has achieved $100M in annual recurring revenue and aims to double it before a potential IPO Thought Machine just hit.

Defense & Infrastructure

Opportunities in defense technology are being identified by firms like Tikehau, with Emmanuel Laillier noting active pipeline development and an expected deal later this year Tikehau’s Emmanuel Laillier:. Tikehau also suggests that asset mergers are key to a unified European defense strategy, distinguishing between production for conflict readiness and intensive conflict volume Tikehau’s Emmanuel Laillier:. Advent has taken a 7% stake in Italian space and defense propulsion group Avio to support its expansion Advent takes 7% stake. In infrastructure, Avance is backing the firm Lexxel Avance backs infrastructure, and HIG is acquiring a majority stake in Germany's Terras Group, which provides infrastructure engineering and construction services HIG agrees acquire.

Financial Services & Business Services

In financial services, KKR and TA Associates-backed Söderberg is acquiring Schroders' advice arm, Benchmark Capital KKR and TA Associates-backed. Unity Partners has acquired Meaden & Moore Advisors, a firm specializing in forensic and accounting services, with plans for add-on acquisitions Unity Partners acquires. Agellus Capital-backed Compass MSP has acquired IT and cybersecurity firm The Logic Group Agellus Capital-backed CompassMSP, and Capitol Meridian has acquired national security infrastructure firm Westway Enterprises Capitol Meridian snaps up. Sentinel has acquired cake decorations supplier Deco Pac from Kohlberg Sentinel scoops up.

Market Commentary & Strategy

Scott Hart, CEO of Step Stone Group, suggests that while the private equity model is not broken, the perception of uniform success is an illusion, attributing it to habits formed during an era of easy money Private Take: Bad habits. He also argues that investors have reacted to economic uncertainty by concentrating on megafunds, potentially sacrificing higher returns for perceived safety Year Misplaced. In contrast, LGT suggests that LPs without venture capital allocations might be overexposed to traditional assets, while KKR's Arctos capitalizes on GP illiquidity Side Letter: Hedging. The healthcare technology sector is seeing continued interest, with Renovus-backed TJP acquiring life sciences commercial operations firm FX2 Virtual Renovus-backed TJP acquires.

Energy & Industrials

Foresight is identifying opportunities in industrial decarbonization and decentralized energy systems, noting that while macroeconomic uncertainty persists, underlying structural drivers remain strong Foresight eyes industrial. I Squared is set to acquire Milestone Environmental from SK Capital, which operates disposal facilities for oil and gas waste streams I Squared acquire. Permira is backing Iberian engineering group Quadrante in its second Energy Transition deal Permira backs Iberian. In a significant industrials deal, Lone Star Funds is acquiring Conti Tech from Continental for €4bn Lone Star Funds to buy.

Secondaries & Credit

The secondaries market continues to see activity, with Patria's Patrick Knechtli noting that deal flow is unlocking due to persistent distributions-in-kind (DPI) issues. Patria's fund focused on smaller secondaries closed on $677M Patria’s Knechtli: Secondaries. On the credit side, Mubadala Capital has opened its $25bn credit platform to outside investors Mubadala Capital opens.

Geographic Focus & ESG

Temasek aims to increase its allocations to AI, private credit, and core-plus infrastructure by March 2031, noting that EMEA directs have lagged other markets Temasek: EMEA directs. Chinese private equity is undergoing a reset, potentially offering a more disciplined opportunity set for investors Chinese PE:. Novo Holdings is expanding its planetary health portfolio and considering allocations to private equity GPs, with a focus on energy and Asia Denmark’s Novo Holdings. CVC has agreed to sell D-Marin, which operates 28 marinas across nine countries, to Infra Via CVC agrees sale.

Investor Relations & Firm Moves

AEA Investors has appointed Adam Biren as partner and head of capital formation for the Americas AEA Investors taps Adam. Bridge Growth has appointed Prosper Vignone as senior principal to its investment team Bridge Growth appoints. Halifax has tapped Rob Holcomb as an operating executive, previously a director of analytics at Johnson & Johnson Halifax taps Rob.

Exits & Portfolio Management

Summit Partners is exiting Dreampath Diagnostics to Halma Summit Partners exits. Warburg Pincus is exiting Singular Bank, which specializes in private banking and wealth advisory, selling its stake to a consortium led by ING Warburg Pincus exit. In a sports-related deal, Blue Owl Capital has acquired a minority stake in the Cleveland Cavaliers through its Home Court Partners fund Blue Owl buys into. Bruin Capital is selling golf simulation company Full Swing to Versant Media for $530M Bruin Capital sell.

Venture Capital & Startup Ecosystem

VCs are actively backing startups, with Accel doubling down on energy startup Axle Exclusive: Accel doubles. Lovable is reportedly in talks to raise $300M at a $13.2bn valuation Exclusive: Lovable. Sifted has identified 25 companies that Europe's startup insiders watched closely in the first half of the year 25 companies. The cleantech startup funding environment has stabilized, with $15 billion invested in seed through growth-stage rounds in the first half of the year Sector Snapshot: Cleantech. Nearly 90 unicorns have been created this year, with AI contributing to a significant portion of new valuations Almost 90 new.