Private Equity 3 Days

Last updated: August 4, 2026, 5:30 AM ET

AI and Data Re-Rating

The rise of AI content is prompting a re-evaluation of data assets, with experts suggesting that companies possessing "rights-clean" data could see a significant re-rating in their valuations such data represents a critical and defensible input for the development of artificial intelligence systems. The market, however, still often values these businesses as ordinary information or subscription companies, failing to account for their unique position in the AI ecosystem. Building secure and user-friendly AI requires comprehensive data, as data residing in silos only provides a partial view of the overall picture.

Deal Activity and Valuations

Mutares has finalized its largest transaction to date with the acquisition of Sabic's engineering thermoplastics business in the Americas and Europe for $450 million which will be rebranded as Nex Point Materials, operates within a new chemicals and materials division and employs approximately 2,800 individuals, generating around $2.5 billion in annual revenue. In another significant transaction, EnCap Flatrock has divested Momentum Midstream to Williams for $5.5 billion. Momentum manages an extensive natural gas system encompassing over 4,000 miles of gathering and transmission pipelines, supplying gas to regions in east Texas and the Gillis Hub in Louisiana. Apollo has agreed to acquire Maverick Water Group, a Houston-based operator of alternative non-potable water systems, from Crosstimbers Capital Group.

Renewables and Infrastructure Investments

KKR is set to acquire a 50% stake in Total Energies' European onshore solar and wind business for €1.8 billion KKR's earlier acquisition of Total Energies' North American solar business for $1.25 billion. KKR plans to deploy insurance capital into this €1.8 billion portfolio of European renewable assets, which comprises a 1.2 GW portfolio of onshore solar and wind projects.

Strategic Exits and Divestitures

CVC and Partners Group are nearing a full exit from Żabka Group, as Alimentation Couche-Tard has made an $8.6 billion voluntary offer for the Polish convenience retailer. Permira has agreed to sell its portfolio company Bio Catch to Visa for $2.4 billion. Bio Catch is a provider of behavioral-based fraud intelligence services, protecting over 760 million consumers across more than 350 financial institutions globally. Permira also recently converted part of its seven-year bet on sustainable fashion brand Reformation into cash, after the company and its shareholders raised $210.9 million in an IPO priced at the bottom of its marketed range. Cortec Group is reportedly preparing A1 Garage Door Service, a 2019 portfolio company, for sale.

Fundraising and Investor Strategies

Adams Street Partners has secured over $5 billion in capital commitments for its latest Secondaries Investment Program, with the close of its Global Secondary Fund 8 at $2.7 billion serving as a cornerstone of this fundraising effort. The public pension fund NYSTRS is planning to allocate up to $2.7 billion in commitments to the private equity asset class for its fiscal year 2027. KKR is exploring the launch of a GP-led strategy, believing it can establish a "world-class" business focused on this specific market segment, according to CFO Robert Lewin. The specialist impact investing firm Blue Earth has raised an additional $100 million and held a second close for its debut dedicated secondaries fund, supported by US investors.

Venture Capital and Startup Funding

European robotics startups have collectively raised more capital in the first six months of the year than they did in the entirety of the previous two years, indicating a surge in investment in the sector. Menlo Ventures' Matt Murphy highlighted that AI is driving the firm towards larger deal sizes, and the firm has committed $3 billion in new capital to be deployed. Index Ventures raised a fresh $2 billion fund, doubling down on its investment strategy in artificial intelligence. Zurich-based Exclaim Robotics has emerged from stealth, successfully raising $4.95 million. Plural has backed a $43 million funding round for Ore Energy, a startup focused on next-generation batteries. June, a startup aiming to simplify AI adoption, has secured $20 million in pre-seed funding.

Secondary Markets and Alternative Investments

The secondary market for private equity has surpassed $200 billion in transaction volume. Hong Kong's new listed alternative investment trusts are seeing industry participants discuss potential use cases, investment horizons, fee structures, and likely adopters. PE Club has transformed its network of former private equity executives into a Limited Partner (LP) platform, with its LPs primarily comprising serial entrepreneurs, former CEOs, and partners from large European private equity firms.

M&A and Business Expansion

Amerit Fleet Solutions is expanding its Canadian presence through the acquisition of Triple Diamond Truck and Trailer Repair, a provider of commercial truck and trailer maintenance and repair services certified by the Ministry of Transportation. McNally Capital announced it has made a majority investment in Tenica, coinciding with growing demand for defense and intelligence services.

Leadership and Career Paths

The career path of a product manager is being recognized as an underrated but crucial training ground for leadership roles in the technology sector, offering skills as relevant as those gained by COOs, CFOs, and divisional presidents.