Private Equity 3 Days

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

Deal Activity and Sector Focus

Private equity firms have been actively engaged in a variety of acquisitions and investments across diverse sectors. Trimlite, backed by Wynnchurch, has expanded its geographic reach by acquiring doormaker Barnett Millworks, strengthening its North American presence. Wind Point Partners acquired ECI, a managed services provider for alternative asset managers, from H.I.G. Capital. Advent HarbourVest have agreed to acquire FNZ Bank in Germany, a platform connecting over 50,000 financial advisers, 200 asset managers, and 400 distribution partners. EIP OceanSound-backed Convey has acquired Selectron, a provider of government and utility software for omnichannel communications. Nordic Capital is acquiring BWX Technologies' medical business for up to $800 million, marking a significant bet on the radiopharma sector. BV Investments is partnering with CEO Nate Kenney and the leadership team to support workforce compliance service provider Thomas & Company's next phase of growth.

Financial Services and Technology Investments

MetLife Investment Management has closed its third managed secondary transaction, raising approximately $1.2 billion for Met Life Investment Private Equity Partners Fund III, with Lexington Partners as the lead investor. This deal involved Met Life shopping a portfolio of funds and co-investments with a net asset value of $1.8 billion. In the financial services technology space, Ash Grove has backed 10x Banking, which provides cloud-native core banking technology for modernizing legacy infrastructure. Similarly, Advent and Harbour Vest have agreed to acquire FNZ Bank in Germany, connecting financial advisers, asset managers, and distribution partners.

Fundraising and Strategy

Apollo is roughly halfway to its target for Fund XI, having begun raising capital for its latest flagship fund with a target of $22 billion to $25 billion in February. LGT Capital Partners has launched its debut credit secondaries strategy, aiming to invest in LP-led, GP-led, and opportunistic deals with an emphasis on senior lending. Adams Street has doubled its fund size with its latest flagship secondaries raise, securing $2.7 billion for its Fund 8 as part of a $5 billion secondaries program, with a focus on North America and Europe. US investors are pushing Blue Earth's impact secondaries strategy forward, with the firm raising an additional $100 million for its debut dedicated secondaries fund.

Sector-Specific Deals and Trends

KKR is set to take Integer Holdings private in a $5.7 billion medical device carve-out transaction. This acquisition of the NYSE-listed company is an all-cash transaction. In the naval sector, private equity is showing growing interest, with Sheridan Capital Partners acquiring Carolina Components Group, a provider of custom-engineered bioprocessing assemblies. The US Navy budget exceeds $300 billion, highlighting the significant financial scale of this sector. Waterland has taken a majority stake in Danish industrial services firm Norisol, which posted an operating margin of over 13% in 2025 and expects revenue to exceed DKr1 billion in 2026. TSG Consumer has acquired a majority stake in body care brand Saltair, valuing the company at the top of its category.

Venture Capital and AI Investments

Global venture funding showed robust growth in July, with startup capital totaling $65 billion, a 100% increase year over year, and the month recorded the highest number of billion-dollar venture rounds ever. Menlo Ventures' Matt Murphy indicated that AI is driving the firm towards larger deals, and they are putting $3 billion in new capital to work. Index Ventures has doubled down on AI by raising a fresh $2 billion fund. A Marc Benioff-backed startup, June, has emerged from stealth with a $20 million pre-seed round to simplify AI adoption. Nscale will provide compute to AI researchers at Oxford, UCL, and Imperial.

Energy and Infrastructure Deals

EnCap Flatrock has sold Momentum Midstream to Williams for $5.5 billion. Momentum operates a large natural gas system comprising over 4,000 miles of gathering and transmission pipelines. KKR is acquiring a 50% stake in Total Energies' European onshore solar and wind business for €1.8 billion, following its late 2025 acquisition of Total Energies' North American solar business for $1.25 billion. KKR is deploying insurance capital into this €1.8 billion renewables portfolio. Apollo is backing Texas water infrastructure through the acquisition of Maverick Water Group from Crosstimbers Capital Group.

Other Notable Transactions

CVC and Partners Group are exiting their holdings in Żabka Group, Poland's largest convenience retailer, as Alimentation Couche-Tard bids $8.6 billion. Permira has agreed to sell Bio Catch, a behavioral-based fraud intelligence provider protecting over 760 million consumers, to Visa for $2.4 billion. Permira also took a partial exit as Reformation priced its IPO at the bottom of the range, raising $210.9 million. Mutares has closed its largest deal to date, acquiring SABIC's engineering thermoplastics business in the Americas and Europe for $450 million, which will be rebranded as Nex Point Materials. Ardian is providing new unitranche financing for Arche MC2, backing a reorganization that will see Montefiore Investment and Activa jointly control the French software publisher.