Private Equity 3 Days

Last updated: July 29, 2026, 8:30 PM ET

Fundraising and Investment Activity

TJC is targeting a final close of $6 billion for its seventh flagship fund, Resolute Fund VII, which is $2 billion above its initial goal. Bain Capital is leading a $1.5 billion investment in infrastructure platform Eaton Fiber, aiming to accelerate Verizon's fiber broadband expansion across the U.S. leads $1.5bn. In the secondaries market, fundraising for real estate strategies represented a smaller portion, 4%, of total private real estate fundraising in 2025, but continues to attract significant capital commitments. Green Bear, a family office, is reducing its private equity exposure and favoring separately managed accounts, citing cost-efficiency benefits amid lower private equity returns. Separately, Green Bear is tapping into the secondaries market for a portfolio revamp, keen on selling private equity fund stakes bilaterally to pare down illiquid assets.

Buyouts and Acquisitions Across Sectors

AIP has completed the take-private buyout of medical tech firm Avanos Medical, offering shareholders $25 per share in cash. Vista Equity Partners is set to acquire software firm Quantios from Hg, which had previously invested in the business in 2022 and merged it with another entity in 2023. Macquarie is reportedly lining up waste management company Win Waste for a sale, expecting interest from strategics and infrastructure funds. Carlyle-backed Included Health is acquiring healthcare company Firefly Health. Investcorp has acquired wealth management firm Berger Financial Group, which manages over $3 billion in assets for more than 3,800 clients. Open Gate Capital has agreed to acquire Knorr-Bremse’s rail HVAC unit, Merak, a company with over 60 years of engineering expertise. Apax is acquiring two plastic packaging companies, Centor and another from Gerresheimer, for €1.5 billion; the combined businesses generated approximately €570 million in revenue in 2025 with around 2,400 employees.

M&A Activity Continues

Water tech firm Xylem is acquiring Eagle Tree-backed Water Fleet for $200 million, a provider of mobile water and wastewater utility services and workforce relief solutions acquires WaterFleet. Carbyne-backed Suan Nutra is set to acquire a portfolio of natural ingredients businesses from IFF, with Suan Nutra being a provider of science-backed branded and functional ingredients. Providence has made an additional investment in talent agency The Team, which will be used to acquire the founder's remaining ownership stake. HIG has acquired infrastructure services and engineering firm Avove, which focuses on regulated water and power markets. Behrman-backed Micross is acquiring manufacturer AEMtec, a provider of high-reliability microelectronic product and service solutions for aerospace, defense, space, medical, and industrial applications. FEP has acquired Australian Planet Fitness franchisee Bravo Fit, marking Planet Fitness's exit from its minority ownership position acquires franchisee. BC Partners has agreed to acquire a co-control stake in Info RLife, a Swiss CDMO specializing in ready-to-use IV infusion bags for hospitals. Mutares has agreed to acquire Stellantis's Free2move car-sharing business, which operates across 14 cities in Europe and the U.S. agrees acquire. SVP is acquiring a minority stake in power plant South Field Energy, which began commercial operations in 2021. THL Partners is selling firmware provider AMI to Lattice Semiconductor, though THL will retain an equity ownership interest in Lattice Semiconductor. Carlyle is backing cybersecurity firm Secturion, marking the first investment from Carlyle’s middle-market aerospace, defense & government and industrials platform. Arlington Capital has closed the $1.45 billion sale of Riverpoint Medical to Novanta, with managing partner Matt Altman noting a stable transaction environment in healthcare. Capitol Meridian is investing in aviation services firm RH Aero Systems, with RH Aero shareholders continuing as significant investors. Trans Digm is acquiring IGP-backed Prince & Izant for over $1 billion, a manufacturer of brazing alloys and specialty metal components.

Technology and AI Investments

BlackRock-backed Influence Media Partners is acquiring Anthem Entertainment’s music assets for over $600 million, including catalogs with over 24,000 songs by artists like Britney Spears and Rush. Former Meta and Slack engineers have raised $15 million for their new startup Centralize, an enterprise sales platform aiming to build a "deal GPS" for enterprise sales. Bain Capital is leading a $1.5 billion investment in infrastructure platform Eaton Fiber, which will accelerate Verizon's fiber broadband expansion across the U.S. leads $1.5bn. Gemspring-backed Key Line is merging with utility services firm Palouse Power, providing construction and maintenance services for electric distribution, transmission, substation, and communications infrastructure. AI's value creation credentials are facing scrutiny, with concerns that General Partners may overpromise and underdeliver on AI's ability to drive topline growth. Middle-market technology companies, or "middleweights," are expected to capture the largest long-term gains from AI, rather than large incumbents or AI-native startups. Freehand has raised $75 million in Series B funding to scale autonomous AI agents that manage supply chain spend and back-office operations for enterprises. Providence's Karim Tabet suggests that AI fatigue indirectly boosts live events, as physical scarcity becomes more valuable in a digitalized world. Tabet also notes that more sellers are becoming realistic on must-move assets, with opportunities arising in comms, live events, and education against the backdrop of AI. Early-stage deeptech startups received backing from Tier 1 VCs in H1 2026. Pliant has reached $100 million in ARR following U.S. expansion hits $100m. Golub Capital is backing fast-food chain Church’s Texas Chicken. Riverside-backed Decera Clinical is investing in healthcare knowledge platform Onviv, which provides continuing education for medical professionals. AI disruption is influencing both LP-led and GP-led secondary markets, according to Campbell Lutyens' Gerald Cooper. Schneider Electric’s VC Fund views the AI buildout as creating a new industrial investment cycle, backing startups that underpin the AI economy. Bridgepoint is acquiring Lansweeper, a technology asset intelligence platform that uses technology, AI, and software to map IT networks acquires Lansweeper. Ridgeview has made a £545 million take-private offer for automotive software company Pinewood, while Bridgepoint is acquiring a majority stake in asset intelligence business Lansweeper. The next AI race will focus on trust. Multiverse Computing is targeting a €500 million round at unicorn valuation.

Market Dynamics and Geographic Focus

The UK continues to be a significant market for private equity, with global macroeconomic concerns pushing more investors towards Europe, allowing the UK to capture a larger share of activity. Providence's Karim Tabet notes that Europe offers lower multiples but a more challenging regulatory environment, while ECP and KKR have made offers for DCC Energy. ECP and KKR have agreed to acquire DCC Energy in a $7.7 billion deal, taking the multi-energy sales and distribution business private. Cinven and La Caisse are jointly acquiring MGA Optio, which originates, underwrites, and manages specialty risk for over 60 capacity providers across 15 countries. Mid Europa is acquiring a construction software platform in the Czech Republic, formed by uniting three existing companies.

Other Notable Transactions and Developments

Juniper Capital has exited Andes Coil Processors, marking its 11th exit from 12 investments made across four platform companies since 2017. Stonepeak and CMA CGM have completed the formation of United Ports, with Stonepeak investing $2.4 billion for a 25% stake while CMA CGM retains a 75% ownership and operational control. Wynnchurch plans to take industrial company Luxfer private for $17.37 per share. Care Career is acquiring Periscope Equity-backed MAS Medical Staffing, a travel nurse and allied staffing agency. AE Industrial Partners has appointed Leonard Dollaga as operating partner to identify and assess new investment opportunities in national security sectors, particularly maritime. Will Ventures led a $10 million Series A round for Throne Science, a startup developing an AI-powered toilet camera for gut health tracking. One of Europe’s most active LPs is actively seeking VCs with "industrial know-how". 9fin has completed its first employee share sale following a $170 million raise.