Private Equity 3 Days

Last updated: July 22, 2026, 5:30 PM ET

Infrastructure and Credit Deals Expand

Partners Group closed its fourth direct infrastructure program above $15bn, marking its largest infrastructure raise to date and exceeding its predecessor vintage by over 50%. The firm has already committed more than 40% of this new fund. Meanwhile, Apollo is targeting up to $20bn of private credit deployment in Mexico, aiming to capitalize on the nation's nearshoring-driven infrastructure build-out. In a significant energy sector transaction, Blackstone, Apollo, and KKR collectively committed $5.34bn to Williams power projects, acquiring a 49% non-controlling interest in five power facilities.

Software, Healthcare, and Industrial Acquisitions

Cinven set acquire, which boasts a network of over 2,000 customers. In the healthcare technology space, Truehelm-backed Wildflower Health, while Equality Asset-backed Mindoula to enhance its ability to engage difficult-to-reach individuals and families. TJC will acquire from Trilantic North America, adding to its portfolio of companies with operations across the US, Canada, and Chile. Monomoy advanced sale, which could fetch up to $850 million based on recent market multiples. In the industrials sector, Kinderhook, its 33rd platform investment in the sector. BGF plans sell to Karman Space & Defense.

AI and Tech Investments Continue to Dominate

Travis Kalanick’s robotics company, Atoms, led by Andreessen Horowitz, with Uber also participating in the funding round. Dimension Capital’s, indicating strong investor interest in the intersection of science and compute. Natural raised $30 to develop payments for AI agents, aiming to compete with Stripe. AI infrastructure company Infinity at a $100 million valuation from investors including Touring Capital and researchers from OpenAI and Anthropic. In the UK, Hg, with plans to enhance its AI capabilities, and made a growth investment at over £200 million valuation. Falfurrias Capital Partners, which focuses on transforming high-risk work planning and delivery. Cusp AI landed $450 to accelerate AI materials discovery.

Secondaries Market Activity Surges

The secondaries market has extended its record-breaking run in the first half of the year, with Jefferies noting the remarkable volume despite market volatility. Townsend raised $2, with an early focus on data center investments. Clipway soared past, which launched with a $4 billion target. More than half of secondaries investors, according to an Evercore report, with this capital increasingly deployed into a wider range of opportunities.

Fundraising and Investor Sentiment

Private equity allocations stabilized in the first half of 2026, with 67% of institutional investors keeping their allocations unchanged amid increased caution. However, secondaries fundraising surpassed $50 billion in the first half, marking the second-strongest six-month period in six years. In terms of fundraising, Clipway launched its inaugural vehicle with a $4 billion target. Meanwhile, some investors are re-evaluating their strategies; the Alaska Permanent Fund is reportedly considering a review of its private equity benchmark, raising concerns about private debt allocations and the exclusion of energy investments.

Strategic Investments and Acquisitions Across Sectors

Goldman Sachs Alternatives, with Greenbelt Capital Partners and Baird Capital exiting their stakes. Inflexion will take, a designer and manufacturer of electronic access control technology. Madison River to support its expansion. Knox Lane. Apax Partners from Delinian. I Squared-backed Liberty Tire Recycling. Cap Vest has completed the acquisition of France’s TSG, a provider of technical services for critical energy infrastructure.

Venture Capital and Startup Funding

Mexico's startups led the Latin American venture capital landscape in the second quarter, raising $944 million, a significant increase from the previous year. In Europe, European fintechs are increasingly focused on AI, with "if you're not AI-native, you're not getting funded" becoming a common sentiment. Menlo Ventures' Matt Murphy noted unprecedented growth in AI startups, citing Anthropic's rapid revenue increase. Cascade raised $3.5 to assist construction firms in finding and winning projects, with participation from a16z Speedrun and Ada Ventures.

Energy and Infrastructure Deals

Kayne Anderson and Warburg Pincus to Magnolia Oil & Gas Corporation. In the infrastructure space, AIP, MGX, and BlackRock’s GIP. Hellman & Friedman is moving Baker Tilly's $3 billion debt from private credit to the syndicated market.

Firm Moves and Strategic Appointments

KKR appointed Roy to focus on strategic opportunities in global financial services and insurance. Athena Capital. Littlejohn promoted Brian. Angeles Equity Partners.

Regulatory Landscape and Market Trends

Private funds, with the SEC continuing to scrutinize managers. The trend toward evergreen vehicles is broadening across the secondaries buyer universe. In the real estate sector, private real estate investors are increasingly turning to recapitalizations to unlock liquidity and extend hold periods amidst refinancing pressures and elusive exits.

Deal Activity in Food and Beverage, and Other Sectors

Butterfly and Graham Partners. Wind Point-backed Assisi Pet Care has acquired Forthglade from IK Partners. Paine Schwartz to Truelink. O2-backed 4M. Brightstar acquiring tech. Coalesce-backed Examinetics. Greenbelt investing Bowe.