Private Equity 3 Days

Last updated: July 23, 2026, 2:30 PM ET

Private Equity Dealmaking Continues Amidst Market Shifts

Private equity firms have been active in various sectors, with notable transactions including Matador Resources Company’s nearly $1.3 billion acquisition of EnCap-backed Paloma Permian. Decathlon has invested in health tech firm Health Endeavors, while New Spring-backed Vybe Urgent Care has acquired two additional centers. Nazca Capital has acquired Madrid Artes Digitales, and Oaktree-backed GA Group has purchased Trampe Settles. In the administrative and governance space, Bregal Sagemount is taking a majority stake in Luxembourg’s ATOZ Services. Tayeh Capital has invested in the C-suite advisory firm Council Advisors. Coalesce Capital has invested in cybersecurity provider Worksheet, and also acquired Workstreet, aiming to capitalize on expanding cybersecurity spending and regulatory compliance complexities. Fundamental Advisors has acquired aerial services operator BlueSky Helicopters, and Tinicum has backed specialty chemicals distributor GracoRoberts. Vesterra Capital has acquired facilities maintenance platform PHFM. Bowmark Capital is set to become a shareholder in building standards firm SFG20. Camden-backed Triumph Higher Education has acquired the Culinary Institute of Barcelona. Valeas Capital Partners is investing in My Pension Expert, with Palatine exiting. IK Partners is selling MDT technologies to BU Bregal Unternehmerkapital. TJC is acquiring electrical power firm Sunbelt Solomon from Trilantic North America. Cinven is acquiring software firm Salsify. Truehelm-backed Wildflower Health has acquired maternity and women’s pelvic health platform Every Mother. Equality Asset-backed Mindoula is acquiring Janus Healthcare Partners and Valera Health. Butterfly and Graham Partners are investing in flavor maker Custom Flavors. Madison River is investing in construction firm Pro-Max. Knox Lane has acquired health tech firm Cross Country Healthcare Inc. Crest Rock is investing in civil contracting firm Andrew Site Work. Bluestone is backing Delphinus Engineering. I Squared-backed Liberty Tire Recycling is acquiring All American Tire, Tire Recycling, and Genan Inc. Falfurrias is injecting capital into work risk AI firm FactorLab. PE-backed Premier Care Dental Management has acquired cosmetic dentistry practice Brookline Smile Artists. Searchlight and Abry have completed the take-private buyout of IoT company Kore. Apax Partners is acquiring techoraco and Institutional Investor from Delinian. Carbyne-backed Suan Nutra is acquiring specialty ingredients businesses from IFF. Cap Vest has completed its acquisition of France’s TSG.

Secondaries Market Records Strong Activity and Evolving Strategies

The secondaries market is witnessing record-breaking volumes, with several large fundraises and strategic shifts. Blackstone is nearing its $14 billion target for its latest flagship fund raise. Step Stone’s VC secondaries fund has surpassed $1 billion, attracting growing LP interest, including a $50 million commitment from Ohio's public school employees' pension. Private real estate managers are actively rewriting strategies by utilizing secondaries, shedding the market's former reputation as a last resort for distress-driven strategies. In China, the RMB secondaries market has completed its first full cycle, presenting both opportunities and risks for investors seeking returns. Secondaries volumes have extended their record-breaking run in the first half of the year, with Jefferies noting the remarkable resilience despite market volatility. Clipway has surpassed its target, reaching $6.4 billion for its debut fund. Secondaries fundraising has seen its second-strongest first six months in six years, with Q1 contributing the majority of activity. More than half of secondaries investors are now operating evergreen vehicles, with this capital increasingly deployed into a wider array of opportunities, according to an Evercore report. Townsend has raised $2 billion for its real estate secondaries strategy, already deploying $1 billion with an early focus on data centers. Lead Edge and Hamilton Lane led a $625 million deal for Ninja One, allowing LPs a range of options during the continuation vehicle process.

Growth Capital and Sector-Specific Investments Highlight Innovation and Expansion

Several firms have secured growth capital or made strategic investments in innovative sectors. Tocqueville Asset Management has received growth capital from Leon Financial Network to generate long-term enterprise value. An edtech platform, Imagi, has raised $4.5 million in a seed round to teach students coding, with participation from Brighteye Ventures, Day One Capital, and Will.i.am raises $4.5M. Blackstone, Apollo, and KKR are committing $5.34 billion to Williams' power projects, acquiring a 49% non-controlling interest in five power projects owned by the energy operator Blackstone, Apollo, and KKR commit. Apollo is targeting up to $20 billion for private credit deployment in Mexico, focusing on nearshoring-driven infrastructure build-out Apollo targets up to $20bn. Carlyle’s Pooja Goyal discussed building platforms from scratch as a deliberate investment strategy, while Kayne Anderson and Warburg Pincus are selling Wild Fire Energy for over $4 billion. Kayne Anderson and Warburg Pincus are in agreement to sell Wild Fire Energy for approximately $4.06 billion. Athena Capital has recruited Karim Bousta as an investment partner and Francesca Cornelli to its operating partners council. Inflexion is taking a minority stake in Salto Systems, a designer and manufacturer of electronic access control technology. Goldman Sachs Alternatives is acquiring fintech firm Aegis Hedging Solutions, with Greenbelt Capital Partners and Baird Capital exiting. KKR has tapped Roy Gori as a senior advisor to focus on strategic opportunities in global financial services and insurance, particularly in Asia Pacific and international markets. Eli Manning, former NY Giants QB, shared insights on investing in sports and the recent foray of private equity into govtech with investments from Enlightenment Capital, Align Capital, and TA. Manning also discussed Brand Velocity Group's investment in RCX Sports. Enlightenment Capital is investing in govtech firm Quorum to accelerate its product roadmap and expand its agentic AI capabilities. Dimension Capital’s third fund, totaling $800 million, highlights the booming intersection of science and compute.

AI and Tech Investments Drive Funding and Shape Future Markets

The artificial intelligence sector continues to be a significant driver of investment and innovation, with a substantial portion of startup funding flowing into large rounds. So far this year, 60% of global startup funding, approximately $320 billion, has gone into rounds of $1 billion or more, underscoring the importance of these large-scale financings. Ten frontier AI labs joined the Crunchbase Unicorn Board in June, collectively valued at $65 billion, contributing to a total of 34 companies adding over $110 billion in value. Menlo Ventures' Matt Murphy highlighted the unprecedented growth of AI companies like Anthropic, which has reached a $47 billion revenue run rate. AI is expected to fundamentally rewrite the global financial value chain, reducing marginal operating costs and enabling personalized products. European fintech funding in the first half of the year has been heavily influenced by AI, with an "AI-native" requirement for funding. Dell Technologies Capital's Daniel Docter discussed how AI is reshaping Saa S and why he doesn't believe the business model is headed for extinction. Black founders in the AI era are facing challenges in closing Series A rounds, although there have been some encouraging signs in 2026. Hg is backing UK proptech company Street Group to enhance its AI capabilities, with the company providing vertical software and AI tools for estate and letting agents at a valuation of over £200 million. Sifted reports on AI deal killers and the potential for the AI bubble to burst. Mistral AI is reportedly in talks with Samsung for its Series D funding round. Natural has raised $30 million to reinvent payments for AI agents and compete with Stripe Natural raises $30M