Private Equity 3 Days

Last updated: August 4, 2026, 8:30 PM ET

Deal Activity and Acquisitions

Thoma Bravo set to divest Command Alkon, a software and platform technology provider for the heavy building materials industry, to Francisco Partners. Axum Capital agreed to acquire Barcode, a Los Angeles-based plant-based and hydration drink brand. Ridgemont has acquired Entact, a national provider of environmental remediation and geotechnical construction services, from JFLCO. Wynnchurch-backed Trimlite purchased doormaker Barnett Millworks, expanding its geographic reach into the Southeast and strengthening its North American customer service capabilities. Wind Point Partners is acquiring ECI, a managed services provider for alternative asset managers and regulated financial firms, from H.I.G. Capital. Advent HarbourVest have reached an agreement to acquire FNZ Bank in Germany, which connects over 50,000 financial advisers, 200 asset managers, and more than 400 distribution partners. EIP OceanSound-backed Convey has acquired Selectron, a company specializing in government and utility software, bringing together providers of omnichannel communications and engagement operating systems. Met Life Investment Management has closed its third managed secondary transaction, raising approximately $1.2 billion for its private equity partners fund, with Lexington Partners serving as the lead investor. Nordic Capital is acquiring BWX Technologies' medical business for up to $800 million, marking a significant bet on the radiopharma sector. BV Investments partnered with workforce compliance service provider Thomas & Company to support its growth phase. Sheridan Capital has acquired Carolina Components Group, a provider of custom-engineered bioprocessing assemblies. KKR is set to take Integer Holdings private in an all-cash transaction valued at approximately $5.7 billion, marking a significant carve-out of the medical device company. A16z has backed Happy Robot at a valuation of $1.2 billion. Bending Spoons agreed to a $2.25 billion deal for Airtable, its first acquisition since its IPO. TSG Consumer has acquired a majority stake in Saltair, a body care brand, valuing the company at a premium within its category. Waterland has taken a majority stake in the Danish industrial services firm Norisol, which provides technical insulation, scaffolding, and marine solutions and posted an operating margin exceeding 13% in 2025. Mutares has completed its largest deal to date, acquiring SABIC's engineering thermoplastics business for $450 million, which will be rebranded as Nex Point Materials and employs approximately 2,800 people generating roughly $2.5 billion in annual revenue. Apollo has agreed to acquire Maverick Water Group, an operator of alternative non-potable water systems, from Crosstimbers Capital Group. KKR has agreed to acquire a 50% stake in Total Energies’ European onshore solar and wind business for €1.8 billion, following its earlier acquisition of Total Energies' North American solar business for $1.25 billion. Amerit Fleet has expanded its Canadian presence by acquiring Triple Diamond Truck and Trailer Repair, a commercial truck and trailer maintenance provider. Cortec Group reportedly preparing A1 Garage Door Service for a sale, while McNally Capital has taken a majority stake in Tenica, reflecting growing demand for defense and intelligence services. Permira has agreed to sell Bio Catch, a fraud intelligence provider protecting over 760 million consumers, to Visa for $2.4 billion. Ardian has arranged new financing for Arche MC2, backing a reorganization that will place Montefiore Investment and Activa in joint control of the French software publisher. CVC and Partners Group are set for a full exit from Żabka Group, with Alimentation Couche-Tard making an $8.6 billion bid for Poland's largest convenience retailer. EnCap Flatrock sold Momentum Midstream to Williams for $5.5 billion, which operates a significant natural gas pipeline system across east Texas and Louisiana. AshGrove has provided backing to 10x Banking, a provider of cloud-native core banking technology for financial institutions.

Fundraising and Investment Strategies

LGT Capital has launched its debut credit secondaries strategy, aiming to invest in LP-led, GP-led, and opportunistic deals with a focus on senior lending. MetLife Investment closed its third private equity fund with $1.2 billion in capital, with Lexington Partners as the lead investor, focusing on managed secondary transactions. Apollo is approximately halfway to its target for Fund XI, which has a fundraising goal of $22 billion to $25 billion and began its capital raise in February. Adams Street doubled its fund size with its latest flagship secondaries raise, securing $2.7 billion as part of a $5 billion program focused on a 50/50 split between LP-led and GP-led deployments in North America and Europe. KKR Arctos are reportedly considering the launch of a GP-led secondary strategy, with KKR aiming to build a significant business in this area. US investors have contributed $100 million to Blue Earth's impact secondaries strategy, marking a second close for its dedicated secondaries fund. NYSTRS has set its private equity pacing for fiscal year 2027, intending to commit up to $2.7 billion to the asset class. Index Ventures raised a new $2 billion fund, doubling down on its investments in artificial intelligence. Menlo Ventures raised $3 billion in new capital, with a focus on larger AI-related deals and a continued relationship with Anthropic.

Venture Capital and Startup Funding

Global venture reached $65 billion in July, a 100% increase year-over-year, with the month marking a record number of billion-dollar venture rounds. Exclaim Robotics Zurich-based company, has emerged from stealth, raising $4.95 million. Plural has backed a $43 million round for Ore Energy, a next-generation battery startup. robotics startups have collectively raised more capital in the first six months of the year than in the preceding two years combined. Marc Benioff-backed startup named June has raised $20 million in pre-seed funding to simplify AI adoption. The EU’s €5 billion tech superfund is now officially open for business. Nscale will provide compute resources to AI researchers at Oxford, UCL, and Imperial.

Market Trends and Investor Sentiment

Private equity showing increased interest in naval investments, a sector bolstered by the U.S. Navy's budget exceeding $300 billion. There is a growing sentiment that a re-rating is imminent for companies with "rights-clean" data, as this data is considered a critical input for AI development. Top commercial firms are considering private equity investment amidst growing concerns surrounding artificial intelligence. The PEI Global Investor 150 ranking is being analyzed to understand the investment strategies of the world's largest private equity investors. PE Club is transforming its network of former private equity executives into an LP platform, attracting serial entrepreneurs and former partners from large European firms. Hong Kong's new listed alternative investment trusts are being examined for their potential use cases, investment horizons, fee models, and likely adopters. Investors are seeking to enshrine better GP reporting standards, while impact investing is facing scrutiny, and Blue Owl is expanding its talent in Tokyo. OMERS PE's funds czar is under review, alongside strategies for building relationships with GPs and the current state of Singapore's alternative investment community. Nik Storonsky is facing a lawsuit related to a €350 million superyacht.

Sector-Specific Developments

Permira has achieved a partial exit from its investment in Reformation, a sustainable fashion brand, which raised $210.9 million in an IPO priced at the lower end of its range. KKR is deploying insurance capital into a €1.8 billion portfolio of Total Energies' European renewable energy assets, comprising a 1.2 GW mix of onshore solar and wind projects. The rise of AI content is expected to lead to a re-rating of targets with "rights-clean" data, as their data is considered a defensible input for AI applications. The product manager to CEO pipeline is being highlighted as an underrated training ground for leadership in the tech sector. Neolabs are facing questions regarding their monetization strategies.