Private Equity 3 Days

Last updated: July 9, 2026, 11:30 AM ET

Deal Activity and Fundraising Momentum

Private equity dealmaking remains a significant force, with mega-deals continuing to drive the global M&A market. Fundraising is also showing strength, with second-quarter volumes. This surge in capital availability is expected to fuel further activity. For instance, Korean Teachers' Credit Union aims to commit 100 billion won to domestic blind-pool funds by 2026.

Sector Focus and Strategic Investments

Several firms are actively pursuing opportunities in specific sectors. Environmental service providers are drawing attention, with Ares, Littlejohn, Palladium, and TPG reportedly evaluating sales of these businesses. KKR has launched a new medical technology platform, Allyntra, anchored by existing portfolio company Precipart. In the defense sector, Europe's newest defense unicorn raised $175 million in a Series B round, and Tikehau's Emmanuel Laillier sees opportunities in electronics and mechanical components within defense tech, with a new deal anticipated later this year or early next.

Consolidation and Platform Building

Consolidation and platform building are evident across various industries. Pye-Barker, a fire protection and security services provider, acquired security and life safety firm ResponseTECH. Bregal-backed Juniper Landscaping acquired two aquatic maintenance firms, Compass Environmental and Aquatic Weeds. Decision HR, backed by Coalesce, purchased payroll service Paymasters Inc. snaps up. Tricor Pacific Capital acquired Arctec Alloys Limited, with plans to merge it with existing portfolio company Rockmount Research & Alloys to create a North American maintenance welding platform. Wynnchurch-backed Principal Industries acquired LED component provider GENLED Brands.

Secondaries Market Activity

The secondaries market is poised for increased activity in the second half of the year following a turbulent first half. Advisers anticipate a rebound in volume as macro volatility subsides. Patria's Patrick Knechtli noted that dealflow continues to unlock, with the firm's focus on smaller secondaries helping to differentiate its $677 million fund. Separately, JRT Partners plans to increase its exposure to secondaries, with a particular interest in opportunities across the US, Australia, and Western Europe.

Technology and AI Investments

Technology and artificial intelligence continue to be significant investment themes. B Capital-led investors are acquiring Russell Investments. Nvidia is backing voice AI startup Gradium, contributing to a seed round exceeding $100 million. Crypto VC firm Paradigm raised $1.2 billion to invest in "technical frontier" startups, expanding its focus beyond cryptocurrency to include robotics and AI. AI law startup Norm secured $120 million in a Series C round, achieving a $1.2 billion valuation. EdVisorly, an AI-native platform focused on college transfers, raised $13.3 million in a Series A round.

European Venture Funding and Growth

Europe experienced its strongest venture funding quarter in four years during Q2, with startups raising $24 billion, an increase of approximately one-third. This growth is reflected in the emergence of new funds and rapidly expanding companies. Among the largest new funds in Europe for the first half of 2026 are notable entries. World Fund and IQ Capital are among the backers of a €91 million round for QuantumDiamonds.

Financial Services and HR Tech

The financial services and HR technology sectors are also seeing increased private equity engagement. CVC Capital plans to invest in music distributor Distro Kid, with Insight Partners retaining a significant minority stake. Ardian closed a $1 billion deal for HR Path, a business focused on HR consulting, IS implementation, and outsourcing. Lightyear is investing in HR tech firm Corestream to support its growth. Shore Capital acquired HR tech firm ThrivePass. Recognize made a majority investment in digital infrastructure services firm Smartlink.

Energy and Infrastructure Deals

Blackstone has agreed to acquire Dresser Utility Solutions from First Reserve, marking the first deal from its new energy transition fund buys Dresser Utility Solutions. I Squared is set to acquire Milestone Environmental from SK Capital, which operates 15 disposal facilities for oil and gas waste streams across active US energy basins.

Sports and Entertainment Investments

The sports industry is increasingly attracting private equity interest. Blue Owl Capital has acquired a minority equity stake in the Cleveland Cavaliers through its Home Court Partners fund, its sixth NBA franchise backed by the vehicle buys into the Cavaliers. Apollo, KKR, and Avenue Sports are among firms that have made deals in the soccer sector over the past year.

Fund Management and Strategic Hires

Fundamentum has launched its third fund at $200 million, with Nandan Nilekani remaining as an anchor investor and expanding its leadership team to target AI and fintech startups in India. O2 Investment Partners has appointed Micah Dawson as an operating partner to drive value across its portfolio. AEA Investors has brought on Adam Biren as partner and head of capital formation for the Americas. Halifax has named Rob Holcomb as an operating executive. Bridge Growth has appointed Prosper Vignone as senior principal to its investment team. American Pacific has promoted Luchi Mmegwa to managing director.

Geographic and Thematic Expansion

Temasek intends to increase its allocations to AI-focused investments, private credit, and core-plus infrastructure assets by March 2031. Denmark's Novo Holdings is considering an allocation for private equity GPs and is expanding its planetary health portfolio, targeting energy and Asia. Apheon has acquired French frozen snack group Alma and is looking for expansion in Benelux, Germany, and the UK.

Other Notable Transactions

Charlesbank has completed an investment in secondaries PE firm Overbay, with the Overbay team retaining significant long-term shareholder status and control of investment activities. B Capital-led investors are acquiring Russell Investments, with the California Public Employees' Retirement System also participating in the consortium. Sentinel has acquired cake decorations supplier DecoPac from Kohlberg. EQT is acquiring the biosurgery business of Corza Medical from GTCR buys Corza Medical's biosurgery unit. Summit Partners exited Dreampath Diagnostics to Halma. Investcorp-backed KSS acquired Strack Scale Service, a provider of calibration and maintenance services for industrial weighing systems. Agellus Capital-backed Compass MSP acquired managed IT and cybersecurity firm The Logic Group. Renovus-backed TJP acquired life sciences commercial operations firm FX2 Virtual. Investcorp-backed KSS acquired Strack Scale Service. Thirty-5 Capital-backed Paddletek acquired performance paddle company PIKKL. Allied Industrial-backed Mat Tech acquired industrial hauling company Hook Set Transportation. HCPI sold Epicurean Butter to Solina USA. Unity Partners acquired Meaden & Moore Advisors, a professional services firm, and plans further add-on acquisitions. Capitol Meridian acquired national security infrastructure firm Westway Enterprises. Arrow Global has signed a deal to acquire Fusion Specialty Group. PSG Equity has agreed to a majority growth investment in Belgian CPM software firm Bright Analytics. River Associates acquired auto parts provider Horsepower Automotive Group. Investcorp-backed KSS acquired Strack Scale Service. NMS-backed Surplus Solutions acquired health tech firm DCM BioServices. Rotunda-backed RMH Systems acquired material handling integrator Top Shelf. Argosy has taken a controlling stake in logistics firm K&L Freight Management. Mubadala Capital has opened its $25 billion credit platform to outside investors opens $25bn credit platform.