Private Equity 3 Days

Last updated: August 4, 2026, 2:30 AM ET

Major Dealmaking and Fundraises Highlight Active PE Landscape

EnCap Flatrock divested Momentum Midstream to Williams for $5.5 billion, a deal involving an extensive natural gas system with over 4,000 miles of pipelines in east Texas and the Gillis Hub in Louisiana. In a significant retail sector transaction, CVC and Partners Group are set to fully exit their investment in Żabka Group, Poland's largest convenience retailer, as Alimentation Couche-Tard has made an $8.6 billion bid. KKR is acquiring a 50% stake in Total Energies' European onshore solar and wind business for €1.8 billion, building on its previous acquisition of Total Energies' North American solar assets for $1.25 billion. Amerit Fleet has expanded its Canadian presence by acquiring Triple Diamond Truck and Trailer Repair, a provider of MTO-certified commercial truck and trailer maintenance. Cortec Group is preparing to sell A1 Garage Door Service, a company it has held since 2019, while McNally Capital has secured a majority stake in Tenica, capitalizing on 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. Ardian is providing 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.

Venture Capital Fuels Innovation in Robotics and AI

Venture capital continues to be a significant driver of innovation, particularly in the artificial intelligence and robotics sectors. European robotics startups have collectively raised more capital in the first six months of the year than in the entirety of the previous two years, indicating a surge in investor interest. Exclaim Robotics a Zurich-based company, has emerged from stealth mode after raising $4.95 million. Plural has invested $43 million in Ore Energy, a startup focused on next-generation batteries. Menlo Ventures' Matt Murphy highlighted that the firm is deploying $3 billion in new capital, driven by the evolving landscape of artificial intelligence and a focus on larger deals, informed by experiences such as their relationship with Anthropic. Index Ventures raised a fresh $2 billion fund, doubling down on its commitment to artificial intelligence. June, a startup aiming to simplify AI adoption, has secured $20 million in pre-seed funding. The emergence of technical founders in Europe is also being closely watched, with venture capitalists identifying 13 individuals to monitor. Additionally, there is a growing recognition of the product management background as a valuable pathway to CEO roles in the tech industry.

Secondaries Market Shows Robust Activity and Strategic Deployments

The secondaries market remains a dynamic area for private equity, with substantial capital being raised and deployed. Adams Street Partners has garnered over $5 billion in capital commitments for its latest Secondaries Investment Program, including the close of its Global Secondary Fund 8 at $2.7 billion. Blue Earth an impact investing firm, has raised an additional $100 million and held a second close for its dedicated secondaries fund. KKR is exploring the launch of a GP-led secondary strategy, believing it can establish a leading business in this niche market. In a partial exit, Permira has realized cash from its investment in sustainable fashion brand Reformation, which raised $210.9 million in an IPO priced at the lower end of its range. The broader secondary market has cleared $200 billion, reflecting significant activity. New listed alternative investment trusts in Hong Kong are also being examined for their potential use cases, investment horizons, fee structures, and likely investor base.

Limited Partner Strategies and Emerging Trends

Limited partners are also adjusting their strategies and outlooks within the private equity space. New York State Teachers' Retirement System (NYSTRS) is planning to allocate up to $2.7 billion to private equity commitments for its fiscal year 2027, indicating a structured approach to pacing. The PE Club is transforming its network of former private equity executives into an LP platform, with its limited partners comprising serial entrepreneurs, former CEOs, and senior figures from large European private equity firms. Commercial law firms are reportedly considering private equity investments amidst concerns surrounding artificial intelligence, while Castlelake's deadline for its pursuit of Easyjet has been extended to align with Apollo's own deadline on August 7. Industry participants are also observing the evolving dynamics of OMERS PE and strategies for engaging with general partners. The question of how "neolabs" will achieve profitability is a key area of focus for the industry.