Private Equity 3 Days

Last updated: August 3, 2026, 5:30 PM ET

Private Equity Dealmaking and Fundraisings

KKR has closed its largest infrastructure fund to date, KKR Global Infrastructure Investors V, at a record $19.2bn. The firm also agreed to acquire a 50% stake in Total Energies’ European onshore solar and wind business for €1.8bn. This transaction, which involves a 1.2 GW portfolio of assets across Europe, follows KKR's earlier $1.25 billion acquisition of Total Energies' North American solar business in late 2025. CVC and Partners Group are set to achieve a full exit from Poland's largest convenience retailer, Żabka Group, by tendering their entire holdings into an $8.6bn voluntary offer from Alimentation Couche-Tard. Permira has agreed to sell its portfolio company Bio Catch, a fraud intelligence provider, to Visa for $2.4bn. BioCatch protects over 760 million consumers across more than 350 financial institutions globally.

Adams Street Partners has raised over $5bn in capital commitments for its latest Secondaries Investment Program, with the Global Secondary Fund 8 accounting for $2.7bn of this total. KKR is reportedly considering the launch of a GP-led strategy, with CFO Robert Lewin expressing confidence in building a significant business in this market segment. Blue Earth a specialist impact investing firm, has secured an additional $100m and held a second close for its debut dedicated secondaries fund. Ardian has arranged new unitranche financing for Arche MC2, supporting a shareholding reorganization that will place Montefiore Investment and Activa in joint control of the French software publisher.

In the public markets, sustainable fashion company Reformation, backed by Permira, raised $210.9m in an IPO priced at the lower end of its marketed range, representing a partial exit for the private equity firm. Amerit Fleet is expanding its Canadian presence through the acquisition of Triple Diamond Truck and Trailer Repair, a provider of commercial truck and trailer maintenance services. Cortec Group is preparing A1 Garage Door Service, a residential garage door maintenance provider, for a potential sale. McNally Capital announced a majority investment in Tenica, coinciding with growing demand for defense and intelligence services.

Venture Capital and Tech Investments

Index Ventures announced a significant fundraising round, doubling down on its focus on artificial intelligence with a fresh $2bn fundraise. Menlo Ventures' Matt Murphy indicated that the firm is increasingly pursuing larger deals due to the rapid advancements in AI and is prepared to deploy $3bn in new capital, drawing lessons from its relationship with Anthropic. June, a startup aiming to simplify AI adoption, has emerged from stealth with $20m in pre-seed funding. The skills developed in product management roles are increasingly recognized as valuable for leadership in the tech sector, potentially offering an underrated pathway to CEO positions.

Limited Partner and Market Trends

New York State Teachers' Retirement System (NYSTRS) is planning to allocate up to $2.7bn to private equity commitments for its fiscal year 2027. PE Club has transformed a network of former private equity executives into an LP platform, attracting LPs such as serial entrepreneurs and ex-partners from large private equity firms. The Hong Kong market is seeing the emergence of new listed alternative investment trusts, with industry participants discussing their potential use cases, investment horizons, fee models, and likely adopters. Top commercial firms are considering private equity investment amidst concerns about artificial intelligence, while the PUSU deadline for Castlelake's pursuit of Easyjet has been extended to align with Apollo's deadline on August 7. The Singaporean alternative investment community appears to be navigating a period of stability, albeit with certain nuances.