Private Equity 3 Days

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

Fundraising and Secondaries Activity

Private equity firms are actively raising new funds and engaging in secondaries transactions. Blue Owl has reached $10.6 billion for its latest GP stakes fund, aiming for a year-end close reached $10.6bn. CVC is targeting a third-quarter close for its sixth secondaries fund, having already raised $9.3 billion for Fund VI. Savano has closed an oversubscribed direct secondaries fund, with its latest vehicle having completed 12 investments to date. In the real estate sector, secondaries funds are outperforming, representing 4% of private real estate fundraising in 2025 and continuing to attract capital commitments. Family office Green Bear is revamping its portfolio by tapping into the secondaries market, with its chief investment officer keen on bilateral sales of private equity fund stakes as the firm pares its exposure to illiquid assets. Fox Path has disclosed details of its debut credit secondaries fund disclosed details. Evercore is bolstering its presence in the Asia-Pacific secondaries market with a significant overhaul of its team, more than doubling headcount in its APAC private capital advisory unit since February.

Mega-Deals and Sector Focus

Large-scale transactions and strategic sector plays continue to dominate dealmaking. Platinum Equity is acquiring a 50% stake in Nestlé's waters arm for $3.4 billion, creating a new entity called Peranel with an enterprise value of €4.9 billion ($5.6 acquires 50%. KKR and Energy Capital Partners are set to acquire DCC for £5.75 billion ($7.78 , a deal supported by DCC's board despite shareholder objections backs £5.75bn takeover. TSG Consumer is set to acquire body care brand Saltair, which was previously backed by Prelude Growth Partners. Bain Capital plans to acquire UK vitamins leader Vitabiotics for approximately £900 million ($1.2 as part of an international growth strategy to acquire UK vitamins leader. Apax is acquiring medical packaging firms Centor and another plastic packaging company from Gerresheimer for €1.5 billion, with the combined businesses generating about €570 million in revenue in 2025. Blackstone and Colony IM are jointly acquiring Accor's 30.7% stake in hotel owner Essendi for up to €975 million ($1.12 to buy Essendi stake.

Technology and AI Investments

The technology sector, particularly artificial intelligence, is drawing significant investment. Battery storage startup Antora has closed a $550 million Series C round, which it plans to use for deploying large-scale projects amid rising energy demand from AI data centers. The European Union has opened applications for a €10 billion AI gigafactory scheme. Health testing platform Function has secured $450 million from General Catalyst inks $450m. Inforcer has raised $50 million in a Series C round led by Insight Partners to assist smaller businesses with AI and security risks. AI startups at the intersection of AI and security have collectively raised $855 million across more than 150 seed-stage rounds this year. Freehand has raised $75 million in Series B funding to scale its autonomous AI agents for managing supply chain spend and back-office operations. AI rollup startup Dwelly has raised $170 million backed by EQT and General Catalyst.

Dealmaking Across Various Sectors

Private equity activity spans a broad range of industries. HIG Capital is selling industrial services firm JT Thorpe to Truelink Capital, having acquired JT Thorpe in 2022. Blackstone is acquiring ultrasonic inspections company Dark Vision, while Macquarie is reportedly looking to sell its waste-to-energy company Win Waste. Providence Equity Partners is taking full control of THE·TEAM, formerly Wasserman, by buying out founder Casey Wasserman takes full control. MRC is backing Nexus Power to support its geographic expansion, targeted acquisitions, and team growth. Dominus is investing in traffic products manufacturer Pelco Solutions, with Pelco's management team remaining significant shareholders. Bain Capital is leading a $1.5 billion investment in infrastructure platform Eaton Fiber to accelerate Verizon's fiber broadband expansion in the US. Golub Capital is backing fast-food chain Church’s Texas Chicken. Stonepeak and CMA CGM have completed the formation of United Ports, with Stonepeak investing $2.4 billion for a 25% stake. AIP has completed the take-private buyout of medical tech firm Avanos Medical, with stockholders set to receive $25 per share in cash. HIG is acquiring infrastructure services and engineering firm Avove, which focuses on regulated water and power markets. Behrman-backed Micross has acquired manufacturer AEMtec, a provider of microelectronic solutions for aerospace, defense, and medical applications. FEP has acquired Australian Planet Fitness franchisee Bravo Fit, with Planet Fitness exiting its minority ownership position acquires franchisee. Mutares is set to acquire Stellantis's Free2move car-sharing business, which operates across 14 cities in Europe and the US. Tower Brook's Joseph Knoll believes strong opportunities exist in business, financial, and healthcare services where AI can enhance productivity and customer outcomes.

Strategic Approaches and Market Observations

Firms are adjusting strategies and reacting to market dynamics. KKR posted its largest-ever monetization quarter, with $848 million in realized performance income and exit multiples as high as 20x, signaling a strong exit environment for some. The UK continues to be a significant market for private equity, with global macroeconomic concerns driving more investors toward Europe and the UK capturing a larger share of activity. Blackstone's energy transition group is acquiring Dark Vision, a business providing pipeline inspections from Koch. Carlyle-backed Included Health is acquiring Firefly Health, a healthcare company. 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 business with over 60 years of engineering expertise. Vista Equity Partners is acquiring software firm Quantios from Hg, a business formed from the merger of Trust Quay and View Point. Macquarie is preparing Win Waste, a waste management company, for a sale that is expected to attract interest from strategics and infrastructure funds. Riverside-backed Decera Clinical is investing in healthcare knowledge platform Onviv, which provides continuing education for medical professionals. AE Industrial Partners has appointed Leonard Dollaga as operating partner to identify and assess new investment opportunities, particularly in national security and maritime sectors. Visionaries is cutting its investment team to two lead partners for its next fund. 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.

Venture Capital and Startup Ecosystem

Venture capital is actively funding startups, with a growing emphasis on AI and specialized tech. Former NEA partner Vanessa Larco is evaluating startups based on founder potential and their use of AI. Artificial intelligence is a key focus for seed investors, with startups at the intersection of AI and security raising substantial capital. Centralize, an enterprise sales platform co-founded by former Meta and Slack engineers, has raised $15 million in Series A funding to build a "deal GPS" for enterprise sales raises $15M. Throne Science, a startup developing an AI-powered toilet camera for gut health tracking, has raised $10 million in a Series A round led by Will Ventures. European venture capital firms are encouraging startups to expand internationally from the seed stage. Tier 1 VCs backed 13 early-stage deeptech startups in the first half of 2026. Zuri Q, an ETH Zurich spinout, has raised $25.5 million in seed funding.

Market Sentiment and Emerging Trends

Market participants are navigating evolving trends and sentiment. The "shorter the hold, the higher the burden" is an observation on continuation vehicles, suggesting that hold period alone is an imperfect metric for assessment. Some GPs are at risk of overpromising and underdelivering on AI's ability to drive topline growth, leading to scrutiny of AI's value creation credentials. The AI label alone may not be sufficient to sway limited partners, according to market commentary. Providence Equity's Karim Tabet notes that AI "fatigue" may indirectly boost live events, as digitalization increases the value of physical scarcity. He also observes that more sellers are becoming "realistic" on must-move assets, with new investment opportunities emerging in communications, live events, and education against the backdrop of AI. The perception exists that the biggest long-term gains from AI will accrue to middle-market technology companies rather than incumbents or AI-native startups. Sweden's Alecta pension fund views purchase multiples as the new DPI (distributions to paid-in , emphasizing disciplined entry pricing for value creation. There is a concentration of capital in Asia's large-cap space, presenting a potentially lucrative opportunity for GPs able to raise even a modicum of capital in the lower market. Family office Green Bear is reducing its private equity exposure and favors separately managed accounts (SMAs) due to cost-efficiency benefits amid lower private equity returns.