Private Equity 3 Days

Last updated: July 25, 2026, 2:30 PM ET

Sports and Entertainment Draw PE Interest

Private equity firms are increasingly targeting sports franchises, with Blue Owl Capital reportedly acquiring a stake in the NBA's Cleveland Cavaliers. Similarly, Harbinger Group has taken a minority ownership position in the MLB's Oakland Athletics as part of their equity financing for a new Las Vegas ballpark. The sector's appeal stems from its potential for growth and strong brand value, mirroring broader trends in alternative investments.

Healthcare and Technology Sectors See Active Dealmaking

The healthcare sector continues to be a fertile ground for private equity investment. Longshore is investing in health tech firm Prochant to fuel its expansion, while SkyKnight is set to invest in infusion services provider Apex Infusion, with FFL Partners remaining a minority stakeholder. In veterinary care, a notable trend has emerged with, including Warburg Pincus and Great Point Partners, involved in seven different deals. Furthermore, Providence Equity is investing in UK communications and IT provider SCG, which serves approximately 35,000 small and medium-sized businesses. On the broader tech front has agreed to acquire UK vitamin company Vitabiotics for international expansion, and Decathlon is investing in health tech firm Health Endeavors. NewSpring-backed Vybe Urgent Care has acquired two centers, expanding its presence in the Philadelphia market.

Infrastructure and Energy Investments Gain Momentum

Significant activity is evident in the infrastructure and energy sectors. Blackstone is poised to sell its battery storage developer Aypa Power to Brookfield for $7 billion, a deal that includes Aypa's operating, under-construction, and contracted project portfolio. In a related move MN8 is set to acquire power producer Greenbacker for $375 million. Meanwhile, Apollo is targeting up to $20 billion for private credit deployment in Mexico, capitalizing on the country's nearshoring-driven infrastructure build-out.

Venture Capital Rounds Highlight AI and Fintech

The venture capital landscape has seen substantial funding rounds, particularly in artificial intelligence and fintech. Crunchbase News reported that investors poured capital into a varied lineup of large deals, targeting sectors including physical AI, biotech, cybersecurity, AI infrastructure, and fintech. For the first time in several quarters overtook Y Combinator in Q2 for participating in the most fintech deals of $5 million or more. Separately, Imagi announced a $4.5 million seed round for its edtech platform focused on coding education, with investors including Brighteye Ventures and Day One Capital. In the AI space, Sifted noted the acquisition of Onstage by Sifted to expand its founder events business, and highlighted "neocloud startups" to watch.

Secondaries Market Shows Robust Growth and Evolution

The secondaries market continues its strong trajectory, with Harbour Vest successfully closing its seventh co-investment program at $4.75 billion, exceeding its target. Blackstone is also making significant headway with its Strategic Partners Fund X, aiming for $22.5 billion, making it the second-largest active fundraise in the secondaries market. Private real estate managers are actively rewriting the playbook with secondaries, signaling that the market is moving beyond distress-driven strategies, as noted by Secondaries Investor. The European market is also amassing a substantial war chest, and VC secondaries fund has surpassed $1 billion, with Ohio's public school employees' pension fund committing $50 million. Discussions around leverage in continuation funds remain, with, while China's RMB secondaries market has concluded its first full cycle, presenting both opportunities and risks.

Diversified PE Investments Across Industries

Private equity firms are making diverse investments across various sectors. GTCR-backed Dentalcorp has acquired Northstar Dental Partners, a Toronto-based dental support organization. In the flavors and fragrances sector has picked up an immersive experience operator, while has agreed to invest in Italian flavors and fragrances maker PA Aromatics. Oaktree-backed GA Group has acquired family law litigation support firm Trampe Settles, and is taking a majority stake in Luxembourg's ATOZ Services, an administration and governance provider. Fundamental Advisors has acquired aerial services operator Blue Sky Helicopters, and Tinicum is backing specialty chemicals distributor Graco Roberts. Vesterra Capital has acquired facilities maintenance platform PHFM, and will become a shareholder in building standards software provider SFG20. Tayeh Capital is investing in C-suite advisory firm Council Advisors, and is investing in My Pension Expert, with Palatine exiting.

Fundraising and Firm-Specific Developments

Fundraising remains a key focus for private equity. PE Insights highlighted Harbour Vest's successful co-investment program close. In a significant infrastructure raise, 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. On the leadership front, Epiris has appointed Owen Wilson as managing partner, succeeding Bill Priestley. Astorg’s co-managing partner Judith Charpentier emphasized the importance of mid-market focus for maximizing exit choices amidst a volatile macro backdrop.

Strategic Acquisitions and Divestitures

Several strategic acquisitions and divestitures are shaping market dynamics. IK Partners is selling MDT technologies to BU Bregal Unternehmerkapital, a German manufacturer of smart building automation components. In a notable transaction within the oil and gas sector is acquiring EnCap-backed Paloma Permian for nearly $1.3 billion, along with additional acreage. Softbank is reportedly eyeing the acquisition of ETH spinout Gravis.

Investor Sentiment and Market Outlook

Investor sentiment remains cautiously optimistic, with a focus on demonstrable value creation. At the London Investor Council, members expressed a "risk-on" attitude but emphasized the need for managers to clearly distinguish their strategies, particularly in areas like AI, defense, and liquidity dynamics. The debate around leverage in continuation funds highlights ongoing discussions about risk management and optimal capital deployment as noted by Secondaries Investor. The increasing net worth of investment executives also raises questions about the effectiveness of traditional incentivisation structures, particularly regarding carry payouts as explored by PE International.

Emerging Trends and Challenges

The evolving technological landscape presents both opportunities and challenges for private equity. The ongoing debate about on-premise versus cloud systems suggests a potential shift in perception regarding security and long-term cost efficiency as discussed in a guest commentary. The proliferation of cybersecurity challenges in the age of AI is driving investment in this sector, with firms like Coalesce Capital acquiring companies like Workstreet. The talent challenge in AI is increasingly focused on resilience and adaptability rather than sheer speed, advocating for vendor-agnostic infrastructure as advised by guest columnist Sumeet Vaidya. Furthermore, the European startup scene is characterized by high salaries in certain sectors as detailed by Sifted, and a notable trend of venture capital investors joining startups themselves reported by Sifted.