Private Equity 3 Days

Last updated: July 25, 2026, 11:30 AM ET

Sports and Healthcare Deals Dominate Private Equity Landscape

Private equity firms continued their aggressive push into sports franchises, with Blue Owl Capital agreeing to invest in the Cleveland Cavaliers and Harbinger Capital taking a minority stake in the MLB's Oakland Athletics. These moves underscore the growing appeal of sports as an alternative asset class. In the healthcare sector, Longshore invested in health tech firm Prochant to fuel its growth, while SkyKnight committed capital to infusion services provider Apex Infusion, with FFL Partners remaining a minority investor. Separately, Decathlon invested in health tech firm Health Endeavors, and Vybe Urgent Care acquired two Liberty Urgent Care centers. Elsewhere, Providence Equity invested in UK communications and IT provider SCG, and GA Group acquired family law litigation support firm Trampe Settles. Bain Capital is set to acquire UK vitamin company Vitabiotics for international expansion, and picked up immersive experience operator Madrid Artes Digitales, which Nazca Capital later acquired the entity.

Technology and Infrastructure Investments See Significant Capital Inflows

The technology and infrastructure sectors remain a focal point for private equity. Blackstone is selling battery storage developer Aypa Power to Brookfield for $7 billion, a significant transaction in the energy transition space. In cybersecurity, Coalesce Capital invested in provider Worksheet, with an exclusive report indicating Workstreet amid rising cybersecurity challenges. TJC will acquire electrical power firm Sunbelt Solomon from Trilantic North America, a company operating 42 locations across North America and Chile. Ridgewood Infrastructure-backed MN8 is set to acquire power producer Greenbacker for $375 million. In the broader tech investment landscape has taken the lead over Y Combinator in backing fintech deals of $5 million or more. Meanwhile, Softbank is reportedly eyeing the acquisition of ETH spinout Gravis.

Fundraising Momentum and Secondaries Market Activity Remain Strong

Fundraising efforts in private equity remain robust, with Harbour Vest closing its seventh co-investment program at $4.75 billion, surpassing its target. Blackstone is also nearing its target for its latest flagship fund, Strategic Partners Fund X, which aims for $22.5 billion in the secondaries market. StepStone’s venture capital secondaries fund has surpassed $1 billion, attracting investment from Ohio's public school employees' pension fund with a $50 million commitment. Partners Group closed its fourth direct infrastructure program above $15 billion, exceeding its predecessor vintage by over 50% and is already more than 40% committed. In the secondaries market, private real estate managers are increasingly utilizing continuation vehicles, signaling a shift away from distress-driven strategies. Notably, Apollo is targeting up to $20 billion for private credit deployment in Mexico, focusing on infrastructure build-out.

Strategic Acquisitions and Sector Specialization Drive Deal Flow

Private equity firms are actively pursuing strategic acquisitions across various sectors. GTCR-backed Dentalcorp has acquired Northstar Dental Partners. In the veterinary care space into the sector with seven deals, including participation from Warburg Pincus and Great Point Partners. Bregal Sagemount plans to take a majority stake in Luxembourg-based ATOZ Services, an administration and governance provider. IK Partners will sell MDT technologies to BU Bregal Unternehmerkapital, a manufacturer of smart building automation components. Cinven is acquiring software firm Salsify, which boasts over 2,000 customers. Nordic Capital intends to sell life sciences software provider Aris Global, serving pharmaceutical and biotech companies. Tinicum is backing specialty chemicals distributor Graco Roberts, previously backed by CM Equity Partners. Vesterra Capital has acquired facilities maintenance platform PHFM. Fundamental Advisors has acquired aerial services operator Blue Sky Helicopters, serving utility, government, and public safety customers.

Mid-Market Exits and Emerging Trends Shape the Investment Horizon

Exit strategies and market focus are evolving, with emphasizing that a mid-market focus can maximize exit choices amid a volatile macro backdrop. The valuation gap is showing signs of narrowing, though not entirely closing. Epiris has appointed Owen Wilson as managing partner, succeeding Bill Priestley. In a notable transaction is set to acquire EnCap-backed Paloma Permian for nearly $1.3 billion. Meanwhile, Monomoy is reportedly in advanced sale discussions for concrete manufacturer Cast-Crete, which could be valued up to $850 million. The burgeoning artificial intelligence sector continues to attract significant capital, with Atoms leading a week of large funding rounds for physical AI startups. However, discussions around AI talent emphasize resilience and adaptability over speed, advocating for vendor-agnostic infrastructure. The European startup scene is also seeing high salaries being offered, particularly in tech roles.

Venture Capital Activity and Investor Sentiment

Venture capital continues to be a dynamic force, with outperforming Y Combinator in Q2 for fintech deals of $5 million or more. Global startup funding has seen a significant portion, approximately $320 billion or 60% of the total, going into rounds of $1 billion or more so far this year. The edtech sector saw Imagi raise a $4.5 million seed round to teach coding, with participation from Brighteye Ventures and Day One Capital. Investors are expressing a "risk-on" sentiment but require clear differentiation in strategies, particularly concerning AI, defense, and liquidity dynamics. Simultaneously, there's a notable trend of venture capitalists joining startups themselves. The conversation around leverage in continuation funds continues, with ongoing debates regarding its appropriate use.