Private Equity 3 Days

Last updated: August 5, 2026, 5:30 PM ET

Private Equity Dealmaking and Fundraising Activity

KKR is set to acquire a 50% stake in Total Energies’ European onshore solar and wind business for €1.8bn. This deal follows its prior acquisition of the company's North American solar business for $1.25bn. KKR is also taking medical device company Integer Holdings private in an all-cash transaction valued at approximately $5.7bn. In the energy sector, EnCap Flatrock has sold Momentum Midstream to Williams for $5.5bn. Mutares completed its largest deal to date, acquiring SABIC's engineering thermoplastics business for $450 million. This business will be rebranded as Nex Point Materials. CVC and Partners Group are exiting their investment in Żabka Group, Poland's largest convenience retailer, as Alimentation Couche-Tard makes an $8.6bn bid.

Venture Capital and Startup Funding

Global venture experienced a significant surge in July, with startup capital totaling $65 billion, a 100% increase year over year, and a record number of billion-dollar venture rounds. Menlo Ventures is deploying $3 billion in new capital, with a focus on larger deals driven by the current AI landscape. Index Ventures raised a new $2 billion fund specifically for AI investments. Moove has raised $250 million to support the autonomous vehicle industry, aiming to become the backbone for robotaxi fleets. Robinhood is launching a fund that will allow retail investors to back Y Combinator startups.

AI and Technology Investments

AI continues to be a major driver of investment, with several firms actively participating in the sector. Clearlake has partnered with OpenAI, and PE firms like Blackstone, TPG, and EQT are also engaging with AI businesses. Wind Borne Systems secured $37 million in Series B funding for its AI-powered weather prediction balloons. Nscale will provide compute resources to AI researchers at Oxford, UCL, and Imperial College. June, a startup aiming to simplify AI adoption, has raised $20 million in pre-seed funding.

Secondary Market Activity and Investor Strategies

The secondary market remains active, with Singapore's sovereign wealth fund GIC preparing to sell around $1 billion worth of private equity fund stakes. Met Life Investment Management closed its third private equity fund, raising approximately $1.2 billion with Lexington Partners as the lead investor. Adams Street doubled its fund size with a $2.7 billion raise for its latest flagship secondaries fund. LGT Capital has launched its debut credit secondaries strategy, focusing on LP-led, GP-led, and opportunistic deals. Carlyle's chief executive Harvey Schwartz, indicated that cyclical tailwinds supporting the secondaries market are expected to persist for several years.

Fundraising and Firm Activities

EQT's Scaleup Europe Fund has debuted with a €450 million investment in Finnish satellite imaging company ICEYE, valuing the company at €10 billion. TPG is targeting $17 billion for its third healthcare fund, TPG X. Nextalia has held a first close of over €1.1 billion on its second flagship fund, Nextalia Private Equity II. Apollo is roughly halfway to its $22 billion-$25 billion target for its Fund XI. The EU's €5 billion tech superfund is now officially open for business.

Sector-Specific Investments

In the healthcare sector, Nordic Capital is acquiring BWXT's medical isotopes business for up to $800 million. Bodycote plc has confirmed receipt of two competing cash offer proposals, valued at £1.56 billion, from CVC and Veritas Capital. Veritas Capital is also set to acquire environmental consultant Trinity Consultants from Oak Hill. The music industry is experiencing significant deal activity, with AI playing a role in improving administrative and royalty processing efficiencies. Private equity is showing increasing interest in US naval investments, with the US Navy budget exceeding $300 billion.

Venture Capital Firm Strategies and New Hires

Lightspeed partners are focusing on building their social media presence and podcast to attract talent. Yann LeCun joined a new venture capital firm backed by 244 limited partners. Moore's Revenant Ventures has closed on $78.5 million for its debut fund in the venture capital secondaries space.

Other Notable Deals and Market Trends

Permira has agreed to sell its stake in fraud intelligence provider Bio Catch to Visa for $2.4 billion. ContextLogic is acquiring chemicals manufacturer gChem from Eagle Tree for $850 million. TSG Consumer has taken a majority stake in the body care brand Saltair. Waterland has acquired a majority stake in Danish industrial services firm Norisol. Fintech startup Moss has achieved unicorn status with a €30 million Series C round.