Private Equity 3 Days

Last updated: July 15, 2026, 11:30 AM ET

Private Equity Eyes AI and Infrastructure Deals Amid Market Consolidation

Private equity firms are increasingly partnering with artificial intelligence specialists, evidenced by the launch of Ode with Anthropic, a new AI services provider backed by. These firms are committing significant capital to energy projects, with Blackstone, Apollo, and KKR collectively providing $5.34bn to Williams for power plants as part of a minority stake deal. In other infrastructure investments, GIP, backed by BlackRock, is set to acquire a majority interest in Summit Ridge Energy, a commercial solar power firm. The sector also saw KKR begin marketing Europe's first debt deal tied to PayPal's buy now, pay later business in Germany according to market sources.

Dealmaking Continues Across Sectors, From Software to Healthcare

Francisco Partners is reportedly close to finalizing a $1.3bn buyout of construction software maker Command Alkon as sources cited by Bloomberg indicate. In the technology services space, VSS has exited its investment in Oracle Cloud solutions provider Centroid Systems. The healthcare sector remains active, with Archi Med taking biopharma firm Esperion Therapeutics private for $1.1bn focusing on cardiometabolic and rare disease therapies. Ardian is also acquiring a majority stake in Germany's Pflegia, a digital healthcare recruitment platform headquartered in Berlin.

Secondaries Market Shows Robust Activity and Growth

The secondaries market is experiencing a surge in dealflow, driven by rising investor confidence and the use of secondaries as a sophisticated capital formation tool, particularly in real estate as highlighted by industry observers. High Vista has launched its GP-led secondaries strategy, extending its lower middle market private equity investing capabilities with a new principal appointment. Asante is building its Asia-Pacific secondaries business with an ex-Evercore hire to originate and lead regional transactions, while Moelis is also expanding its LP-led secondaries business with a team from Evercore aiming to construct a dedicated unit.

Consolidation and Strategic Investments Shape the Landscape

Consolidation is a key theme, with KKR agreeing to acquire a 51% stake in Thomson Reuters’ global print business for $500m. Apollo and Clearlake are also among firms acquiring other private markets entities as the industry continues to consolidate. In a notable fintech development, Stripe and Advent International have reportedly made a joint $53bn offer for PayPal according to Reuters. Meanwhile, venture funding into fintech startups climbed nearly 23% year-over-year in H1 2026, though the deal count fell, indicating larger individual investments.

Energy and Infrastructure Investments Draw Significant Capital

Major capital is flowing into the energy sector, with Blackstone, Apollo, and KKR planning to invest $5.34bn in Williams for its power plants in exchange for minority stakes. BlackRock’s GIP is acquiring commercial solar power firm Summit Ridge Energy, which constructs, owns, and operates solar and energy storage systems across the Midwest, Mid-Atlantic, and New England. KKR is also reportedly in talks to back Saudi Aramco's humanoid robotics venture at a unicorn valuation.

CalPERS Reports Strong Returns, Driven by Private Equity

The California Public Employees' Retirement System (CalPERS) has reported a preliminary net investment return of 14.8% for the year ending June 30, 2026, with private equity being a significant contributor to this performance according to preliminary figures. CalPERS' private equity returns were noted as a "lucky 17" in a separate report, indicating strong performance as referenced in industry commentary. The pension fund is also exploring greater flexibility in its investment strategy and is seeking investment consultants for its assets as part of its strategic review.

Specialized Sector Investments and Add-on Acquisitions

Private equity firms are making targeted investments across various specialized sectors. Audax and Linden are looking to sell Stat Lab Medical Products to Leica Biosystems, a Danaher Corporation operating company. In the transportation sector, CAI Capital-backed Green Arrow has acquired three transportation technology firms, while Broadwing-backed Lehr has acquired emergency vehicle upfitting assets of Pro Logic ITS its tenth add-on acquisition. In the realm of music royalties, Pophouse has acquired a stake in Iron Maiden's music and NIL rights following a trend in the sector.

AI and Tech Ventures Attract Funding and Strategic Partnerships

The artificial intelligence landscape continues to draw significant investor attention. Miles Wang, an OpenAI researcher, is reportedly in talks to launch an AI drug discovery startup valued at $2bn. Anthropic has recruited Monzo cofounder Tom Blomfield for its AI compute team bolstering its expertise. Meanwhile, venture funding into cybersecurity startups saw $4.4 billion in seed-through growth-stage financing in Q2 2026.

Real Estate and Infrastructure Secondaries Gain Traction

The real estate secondaries market is experiencing increased activity, with global buyers seeking exposure to in-demand asset classes. Investors are leveraging secondaries to unlock liquidity, retain high-conviction assets, and reposition platforms for growth. LGT Capital Partners, Dawson Partners, and Pomona Capital are discussing how market conditions are encouraging sellers to the secondaries market in a recent podcast.

European Market Activity and Sector Focus

In Europe, Inflexion is set to acquire Primed Group, a German provider of single-use medical consumables, from Paragon Partners. Nordic Capital is focusing on the water treatment sector, citing significant investment requirements and labor constraints as reasons for its attractiveness. Bridgepoint is signing a deal for a majority stake in Danish defense company UMag a founder-led business spun out of a technical university.

Fundraising and Firm-Specific Developments

Carlyle Alp Invest has closed its second single asset-focused fund on $1.7bn, surpassing its target and predecessor fund. High Vista has appointed Ramit Malhotra as principal for its GP-led secondaries team as part of its strategy extension. Meanwhile, Temasek-linked Vertex is scaling back ambitions with a new growth fund, Vertex Growth III, which will be at least 40% smaller than its predecessor.