Private Equity 3 Days

Last updated: July 10, 2026, 8:30 AM ET

Private Equity Fundraises Hit New Highs, Driven by Mega-Funds

Private equity fundraising reached a record in the second quarter, largely propelled by the $49 billion MGX Fund I, announced in June. Overall inflows for the period were significantly boosted by this single large commitment. This surge marks a new high for the sector. Meanwhile, the secondaries market, after a "bumpy first half," is in the latter six months of the year, as advisers anticipate a pickup following recent macroeconomic volatility as detailed by Secondaries Investor. Schroders anticipates that GP-led transaction volumes could triple. Ardian also closed a $1 billion growth capital fund for HR Path.

Apollo Global Management Pursues Large-Scale Deals, Including Easy Jet Bid

Apollo Global Management has been active in high-profile transactions, making a £5.7 billion bid for easy Jet that trumped Castlelake's offer. This move has led the airline's board to withdraw support for the rival suitor. In a separate significant transaction, Apollo is injecting €3 billion of equity into Bayer's long-acting reversible contraceptives business. The firm is also reportedly among those evaluating the sale of environmental service providers.

Technology and Healthcare Sectors See Active Private Equity Investment

Private equity firms are actively investing across technology and healthcare sub-sectors. Ares, alongside The Raine Group, is backing Firebird Music in a new platform to acquire music rights catalogues, with a target of $750 million. Warburg Pincus is investing in Australia's commercial credit reporting agency Creditor Watch to fuel its Asian expansion. In the primary care sector, firms like Apollo, Arsenal, and OMERS Private Equity are through six disclosed deals. KKR has unveiled Allyntra, a new medical technology platform anchored by Precipart. Frazier Healthcare is set to acquire health tech firm Matrix Care from seller Resmed.

HR Tech and Business Services Attract Dealmaking Activity

The HR technology sector has seen a flurry of deals. Shore Capital, Lightyear, and Bridgepoint have all signed agreements in this space. Shore Capital recently, while Lightyear invested in Corestream to support its growth. Coalesce-backed Decision HR acquired payroll service Paymasters Inc. PE Hub. Separately, Unity Partners acquired Meaden & Moore, reflecting a growing appetite for accounting firms, while Capital Meridian scooped up Westway Enterprises.

Venture Capital Continues Strong Momentum, Particularly in Europe

European venture funding experienced its strongest quarter in four years during Q2, with startups raising $24 billion, a roughly one-third increase. This performance has been attributed to gains in the UK and sustained M&A activity. In the AI space, Nvidia is backing voice AI startup Gradium, bringing its seed round to. Crypto VC firm Paradigm has raised $1.2 billion to invest in "technical frontier" startups, including robotics and AI. AI law startup Norm secured $120 million, reaching a $1.2 billion valuation.

AI and Defense Emerging as Focus Areas for Investment

Artificial intelligence continues to be a significant investment theme, with potential to reshape industries. Anne Glover, chief executive of Amadeus Capital Partners, believes AI will transform Saa S providers as discussed in a podcast. Searchlight's James Redmayne views "offensive AI" as a compelling combination with structural resilience, noting a bifurcation in the market where premium assets with defensible fundamentals attract buyer interest, while more cyclical or AI-exposed businesses face challenges. In defense, Tikehau's Emmanuel Laillier sees opportunities in electronics and mechanical components, and believes asset mergers are key to a unified European defense strategy. Europe's newest defense unicorn has raised $175 million in a Series B round Sifted reported.

Other Notable Transactions and Firm Appointments

Charlesbank has completed an investment in secondaries PE firm Overbay, with the Overbay team remaining significant long-term shareholders. Blue Wolf has appointed Anne Bailey as lead operating partner. In other firm news, American Pacific promoted Luchi Mmegwa to managing director, and O2 Investment Partners appointed Micah Dawson as operating partner. Tricor Pacific Capital acquired Arctec Alloys Limited, intending to merge it with a portfolio company to create a North American welding platform. I Squared plans to acquire Milestone Environmental from SK Capital. Milestone operates disposal facilities for oil and gas waste streams.