Private Equity 3 Days

Last updated: July 22, 2026, 11:30 PM ET

Infrastructure and Credit Sees Major Fundraises and Deployments

Partners Group closed its fourth direct infrastructure program above $15 billion, marking its largest infrastructure raise to date and exceeding its predecessor vintage by over 50%. The fund is already more than 40% committed. Elsewhere, Apollo is targeting up to $20 billion for private credit deployment in Mexico, aiming to capitalize on the country's nearshoring-driven infrastructure build-out. In a significant energy infrastructure deal, Blackstone, Apollo, and KKR collectively committed $5.34 billion to five power projects owned by US energy operator Williams, acquiring a 49% non-controlling interest.

Technology and Software Acquisitions Continue Amidst Market Shifts

Cinven is set to acquire software firm Salsify, which boasts a customer network exceeding 2,000. TJC will acquire electrical power firm Sunbelt Solomon from Trilantic North America, with Sunbelt Solomon operating 42 locations across the US, Canada, and Chile and employing over 1,600. In the fintech space, Goldman Sachs Alternatives will acquire Aegis Hedging Solutions, with Greenbelt Capital Partners and Baird Capital exiting their stakes. Searchlight and Abry have completed the take-private buyout of IoT company Kore. Meanwhile, Bain Capital is acquiring European supply chain platform Supply On, which connects over 200 manufacturers with more than 140,000 suppliers globally.

AI and Tech Startups Attract Significant Investment and Valuation Surges

AI continues to be a major draw for venture capital, with Dimension Capital at $800 million, highlighting a boom in science and compute intersections. Anthropic reportedly achieved an $47 billion revenue run rate by May, a growth rate described as unprecedented by Menlo Ventures’ Matt Murphy. Natural has to develop payment systems for AI agents, aiming to compete with Stripe. Inference startup Infinity announced a $15 million raise at a $100 million valuation, with notable investors including researchers from OpenAI and Anthropic. Cusp AI landed $450 to accelerate AI materials discovery. In the realm of AI and startups, 10 frontier AI labs in June, collectively adding over $65 billion in value.

Private Equity Activity Spans Diverse Sectors and Geographies

Monomoy advanced sale for concrete manufacturer Cast-Crete, with potential valuations reaching up to $850 million based on recent market multiples for building product companies. Butterfly and Graham Partners are investing in flavor maker Custom Flavors, which serves the protein & nutrition, gummies & nutraceuticals, and functional food & beverage industries. Truehelm-backed Wildflower Health has acquired maternity and women’s pelvic health platform Every Mother. Equality Asset-backed Mindoula has acquired Janus Healthcare Partners and Valera Health, both focused on healthcare engagement.

Secondaries Market Sees Robust Fundraising and Activity

The secondaries market in the first half of 2026, with Jefferies noting the remarkable volume amidst market volatility. Townsend raised $2 for real estate secondaries, already deploying $1 billion with an early focus on data centers. Clipway surpassed its target to reach $6.4 billion for its debut fund, which initially aimed for $4 billion. More than half of secondaries investors are now, a trend broadening across the investor universe, according to Evercore.

Deal-Making Continues Across Industrials, Healthcare, and Services

TJC is acquiring Sunbelt Solomon, an electrical power firm with 42 locations across North America and Chile, employing over 1,600. In the healthcare sector, Knox Lane has acquired health tech firm Cross Country Healthcare Inc. Madison River is investing in construction firm Pro-Max to support its expansion and service capabilities. Pelican Energy has acquired industrial metal fabricator Riggins Company, known for its custom metal fabrication and welding services. In the consumer and food sector, Paine Schwartz is selling ingredients and beverage manufacturer Lyons Magnus to Truelink.

Investor Allocations Stabilize Amidst Cautious Market Sentiment

Investor caution characterized the first half of 2026, with, according to PEI's H1 2026 Investor Report. This stability in private equity allocations comes as some large pension funds consider adjustments, with the Alaska Permanent Fund mulling a review of its private equity benchmark, including concerns over private debt allocations and the exclusion of energy investments.

Private Credit and Debt Markets Show Activity and Refinancing Movements

Hellman & Friedman is moving Baker Tilly's approximately $3 billion in debt from private credit to the syndicated market, with Deutsche Bank arranging the refinancing. This move supports the sponsor's buy-and-build strategy.

Exits and Divestitures Reflect Portfolio Management Strategies

Kayne Anderson and Warburg Pincus are selling Wild Fire Energy to Magnolia Oil & Gas Corporation for over $4 billion. The company focuses on oil and gas assets in South Texas. In another notable exit, Blackstone is nearing a $400 million exit deal for RGIS, an inventory services company, with an Israeli private equity firm in talks to acquire control of its international operations. BGF is selling Walker Precision Engineering to Karman Space & Defense, a provider of mission-critical components for the aerospace and defense markets.

Venture Funding for AI and Deep Tech Shows Strong Momentum

Dimension Capital’s of $800 million underscores the booming intersection of science and compute. Dell Technologies Capital's Daniel Docter believes AI will reshape Saa S but not eliminate the business model. Natural has to build payments for AI agents. Infinity, an AI infrastructure company at a $100 million valuation from investors including researchers from OpenAI and Anthropic.

Layoffs Continue in the Tech Sector Amidst Economic Adjustments

The Crunchbase Tech Layoffs Tracker indicates that over 127,000 workers at U.S.-based tech companies were laid off in 2025, with these cuts continuing into 2026. This ongoing trend highlights persistent adjustments within the technology industry.

Sports and Gov Tech Investments Show Niche Appeal

Former NY Giants QB Eli Manning is sharing insights on sports investing, having transitioned from investor to a full-time role. Enlightenment Capital, Align Capital, and TA are leading private equity's recent foray into the govtech sector. Enlightenment Capital is investing in govtech firm Quorum to accelerate its product roadmap and expand AI capabilities.