Private Equity 3 Days

Last updated: July 31, 2026, 2:30 AM ET

Private Equity Fundraising and Dealmaking Activity

Private equity firms are actively raising capital across various strategies. reached $10.6bn for its latest GP stakes fund, which is expected to close this year after extensions. CVC is aiming for a Q3 close on its sixth secondaries fund, having raised $9.3bn to date, and is also planning its first infrastructure secondaries vehicle. TJC is targeting a November final close for its seventh flagship fund with a hard cap of $20bn, exceeding its initial target by $2bn. In the Middle East, Brookfield held a $2bn first close on its PIF-anchored Middle East buyout fund holds $2bn first close. Savano also closed its direct secondaries fund oversubscribed. Separately, secondaries funds are punching above their weight in real estate fundraising, representing 4% of total commitments in 2025.

Sector Focus: AI, Cleantech, and Healthcare Drive Investments

Investments in artificial intelligence and cleantech are accelerating. Battery storage startup Antora closed a $550M Series C round, one of the largest cleantech rounds of the year, to fund large-scale project deployment amid rising energy demand from AI data centers. The EU has opened applications for a €10bn AI gigafactory scheme. Startups at the intersection of AI and security have raised $855 million across over 150 seed-stage rounds this year. In healthcare, Function, a health testing platform offering blood tests via subscription, secured $450m from General Catalyst inks $450m. Inforcer raised $50 million for its Series C to help smaller businesses navigate AI and security risks. Freehand raised $75 million in Series B funding to scale autonomous AI agents for supply chain spend and back-office operations.

Strategic Acquisitions and Divestitures Across Industries

Several significant acquisitions and divestitures have been announced. Platinum Equity is acquiring a 50% stake in Nestlé's waters arm for $3.4bn, forming a new company called Peranel with an enterprise value of €4.9bn ($5.6bn) to take 50%. KKR and Energy Capital Partners are set to acquire DCC in a £5.75bn ($7.78bn) cash takeover, despite shareholder objections back £5.75bn takeover. Providence Equity Partners will assume full ownership of agency THE·TEAM after buying out founder Casey Wasserman takes full control. Bain Capital agreed to acquire UK vitamins leader Vitabiotics for approximately £900m ($1.2bn) to acquire. Blackstone and Colony IM agreed to acquire Accor's 30.7% stake in hotel owner Essendi for up to €975m ($1.12bn) to buy. Apax plans to acquire two medical and plastic packaging companies from Gerresheimer for €1.5bn, which generated combined revenues of about €570 million in 2025.

Secondary Market Activity and Investor Strategies

The secondary market is seeing increased activity and evolving strategies. CVC is aiming for a Q3 close on its sixth secondaries fund, having raised $9.3bn to date and planning its first infrastructure secondaries vehicle. Savano also closed its direct secondaries fund oversubscribed, having made 12 investments to date. Evercore is expanding its APAC private capital advisory unit, more than doubling headcount since February to capitalize on growth in the region's secondaries market. Family office Green Bear is tapping the secondaries market for a portfolio revamp, keen on selling private equity fund stakes bilaterally to pare exposure to illiquid assets. Step Stone is leading a £140m continuation vehicle for Premier Modular.

Venture Capital Trends and Emerging Opportunities

Venture capital firms are exploring new investment theses and operational approaches. Blossom Capital is looking at the defense sector for investments. Some VCs are taking on operator roles to drive value, a trend stemming from the need for deeper involvement in portfolio companies. European VCs are finding opportunities in the chip rout, suggesting potential for value in semiconductor-related investments. European startups are increasingly expanding internationally even at the seed stage go abroad. Tier 1 VCs backed 13 early-stage deeptech startups in H1 2026. Vanessa Larco, former NEA partner, evaluates startups based on founder potential and AI leverage.

Private Equity Exits and Realizations

Private equity firms are achieving significant realizations. KKR posted its largest-ever monetization quarter, with $848m of realized performance income across strategies and exit multiples as high as 20x. HIG Capital is selling industrial services firm JT Thorpe to Truelink Capital, having acquired it in 2022 to sell. Juniper Capital completed its eleventh exit out of twelve investments with the sale of Andes Coil Processors. Hg and EQT are selling Saa S provider Quantios to Vista Equity Partners. Mutares has agreed to acquire the Free2move car-sharing business from Stellantis, which operates in 14 cities across Europe and the US.

AI's Impact on Dealmaking and Value Creation

The influence of artificial intelligence is shaping investment strategies and market perceptions. Some fear that 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. Conversely, Providence's Karim Tabet suggests that AI "fatigue" indirectly boosts live events, as digitalization makes physical scarcity more valuable. Startups at the intersection of AI and security have seen significant seed funding. The European Union is launching a €10bn AI gigafactory scheme. The CEO of cybersecurity unicorn Tines shared lessons learned from its AI overhaul.

Geographic Focus: Europe and Asia

European markets are attracting significant private equity interest, though regulatory environments can be challenging. The UK continues to be a favored market for private equity activity, capturing a larger share of global dealmaking amid macroeconomic concerns. Tower Brook’s Joseph Knoll noted that Europe offers lower multiples but a more challenging regulatory environment compared to the US. In Asia, a concentration of capital in the large-cap space presents opportunities for GPs able to raise capital in lower market segments.

Specific Deals and Sector Investments

Multiple deals across diverse sectors highlight ongoing investment activity. TSG Consumer is acquiring body care brand Saltair, which was previously backed by Prelude Growth Partners. Blackstone's energy transition group is acquiring ultrasonic inspections company Dark Vision, while Macquarie is reportedly exploring a sale of its waste-to-energy company, Win Waste scoops up. Golub Capital is backing fast-food chain Church’s Texas Chicken. Carlyle-backed Included Health is set to acquire healthcare company Firefly Health. Investcorp has acquired wealth management firm Berger Financial Group, which manages over $3 billion in assets scoops up.