Private Equity 3 Days

Last updated: August 3, 2026, 8:30 PM ET

Infrastructure and Energy Deals

KKR has closed its largest infrastructure fund to date, KKR Global Infrastructure Investors V, with $19.2 billion in capital commitments. The firm is already deploying this capital, agreeing to acquire a 50% stake in Total Energies' European onshore solar and wind business for €1.8 billion. KKR's strategy also involves leveraging insurance capital for such investments. Separately, Williams agreed to acquire Momentum Midstream from EnCap Flatrock for $5.5 billion. Momentum operates an extensive natural gas system spanning over 4,000 miles of pipelines in east Texas and the Gillis Hub in Louisiana.

Retail and Services Transactions

Alimentation Couche-Tard has made an $8.6 billion bid for Żabka Group, signaling a full exit for private equity firms CVC and Partners Group from Poland's largest convenience retailer. In the services sector, Amerit Fleet Solutions is expanding its Canadian presence through the acquisition of Triple Diamond Truck and Trailer Repair. Triple Diamond is an MTO-certified provider of commercial truck and trailer maintenance. Cortec Group is preparing to sell its portfolio company, A1 Garage Door Service, which specializes in residential garage door maintenance. Meanwhile, McNally has acquired a majority stake in Tenica, a company experiencing growing demand for defense and intelligence services. Permira has agreed to sell Bio Catch, a fraud intelligence provider protecting over 760 million consumers globally, to Visa for $2.4 billion. Permira also recently achieved a partial exit from its investment in sustainable fashion brand Reformation, which raised $210.9 million in an IPO.

Fundraising and Strategic Initiatives

Adams Street Partners has secured over $5 billion in capital commitments for its latest Secondaries Investment Program, highlighted by the $2.7 billion close of Global Secondary Fund. The secondaries market has seen significant activity, clearing approximately $200 billion. Blue Earth a specialist impact investing firm, has raised an additional $100 million and held a second close for its debut dedicated secondaries fund. KKR is also exploring the launch of a GP-led strategy, aiming to build a “world-class” business in this sub-segment of the market. Ardian has arranged new unitranche financing for Arche MC2, supporting a reorganization that will result in Montefiore Investment and Activa jointly controlling the French software publisher.

Venture Capital and Emerging Technologies

Menlo Ventures is increasing its investment focus on artificial intelligence, with managing partner Matt Murphy indicating the firm is prepared to make larger deals in the AI space. Index Ventures raised a fresh $2 billion fund, doubling down on its commitment to AI. June, a startup focused on simplifying AI adoption, has raised $20 million in pre-seed funding. The broader venture capital landscape is also seeing innovation, with a focus on technical founders, as highlighted by a list of 13 European technical founders to watch. The profitability of "neolabs" remains a key question within the tech sector.

Market Trends and Investor Strategies

New York Common Retirement Fund (NYSTRS) plans to allocate up to $2.7 billion to private equity in fiscal year 2027, indicating a strategic pacing for the asset class. Hong Kong is introducing new listed alternative investment trusts, with industry participants discussing their potential uses, investment horizons, and fee models. Top commercial firms are considering private equity investment, partly in response to concerns surrounding artificial intelligence. The PE Club is leveraging its network of former private equity executives to create a limited partner platform, attracting LPs such as serial entrepreneurs and former firm partners. Product management is increasingly being recognized as a valuable pathway to CEO roles in the tech industry, offering a crash course in leadership skills.