Private Equity 3 Days

Last updated: August 6, 2026, 2:30 PM ET

Dealmaking Activity Across Sectors

Apollo Global Management has secured a recommended cash offer for easy Jet, valuing the airline at approximately £5.7bn, concluding a swift four-week bidding process. In the healthcare sector, Ares Management is leading a $2.2bn direct loan to support Med Impact Holdings' acquisition of Medical Card System. KKR has agreed to acquire Medicover India, the Indian hospital operations of Medicover AB, adding a scaled multi-specialty network to its healthcare portfolio. KKR is also taking Integer Holdings private in an all-cash transaction valued at approximately $5.7bn, representing a carve-out of the medical device company. LS Power set to acquire the Brazos Valley gas-fired power plant from Constellation, a transaction that fulfills a regulatory divestiture commitment. Veritas Capital acquiring Saber Power Services, a vertically integrated power infrastructure services platform that assists customers in building, modernizing, and maintaining electrical systems. Veritas is also in the process of acquiring environmental consultant Trinity Consultants from Oak Hill.

Partners Group reportedly in discussions to acquire the beauty business Aroma-Zone from Eurazeo. Partners Group is acquiring a majority stake in AVK Power Solutions, which has delivered over 20,000 projects and installed approximately 3.5GW of power for data centers across Europe. Bain Capital acquiring Gong cha, a tea beverage chain, from TA Associates. TSG Consumer has taken a majority stake in Saltair, a body care brand, valuing it at the top of its category. Waterland has acquired a majority stake in Norisol, a Danish provider of technical insulation, scaffolding, and marine solutions, which posted an operating margin of over 13% in 2025 and expects revenue to exceed DKr1bn in 2026. Axum Capital agreed to acquire Barcode, a Los Angeles-based plant-based and hydration drink brand. Capital-backed Trimlite is acquiring doormaker Barnett Millworks, expanding its geographic footprint and customer service capabilities.

In the technology and software space, Nexa Equity-backed Facility Grid is acquiring autonomous commissioning company Ping Cx, introducing a new product strategy centered on three integrated offerings. EIP OceanSound-backed Convey has acquired Selectron, a provider of government and utility software. Verdane has made a majority investment in Factbird, a Danish IoT and recurring software company providing manufacturing intelligence services. Thoma Bravo agreed to sell Command Alkon, a software and platform technology provider for the heavy building materials industry, to Francisco Partners. Broad Sky successfully sold professional services firm Smith + Howard to TPG, having grown the business fourfold. GSAM is preparing to sell data center power engineering firm Divcon Controls.

Infrastructure and Energy Deals

Arlington-backed TRP has completed five add-on deals to establish a new highway plastics division, integrating the acquired targets into a new platform called Gulf Highway Materials. EnCap Flatrock sold Momentum Midstream to Williams for $5.5bn, with Momentum operating a large-scale natural gas system that includes over 4,000 miles of gathering and transmission pipelines. Apollo has agreed to acquire Maverick Water Group, an operator of alternative non-potable water systems, from Crosstimbers Capital Group, focusing on Texas water infrastructure.

Fundraising and Investor Activity

market GP-led secondaries has seen significant growth in the first six months of the year, driven by fundraising and expansion into new asset classes. G Squared secured $2.3bn for its seventh flagship fund, which is twice the size of its previous vehicle and took half as long to raise, indicating a heating up of venture secondaries. Adams Street doubled its fund size with its latest flagship secondaries raise, securing $2.7bn for Fund 8 as part of a $5bn secondaries program, aiming for a 50/50 split between LP-led and GP-led deployments. MetLife Investment Management has closed its third managed secondary transaction, raising approximately $1.2bn for Met Life Investment Private Equity Partners Fund III, with Lexington Partners acting as the lead investor. Singapore's sovereign wealth fund GIC is preparing to sell around $1bn worth of private equity fund stakes on the secondary market. LGT Capital has launched its debut credit secondaries strategy, focusing on LP-led, GP-led, and opportunistic deals with an emphasis on senior lending. Carlyle’s chief Harvey Schwartz noted strong earnings driven by realisations, with the firm's US buyout strategy distributing capital at more than double the industry rate. Carlyle increasingly Alp Invest as more of a corporate finance business than a standalone secondaries unit. Industriens Pension considering increasing its exposure to infrastructure secondaries, favoring indirect over direct investments.

The Italian pension fund ENPAV is seeking private equity co-investment opportunities. MMAA is looking to commit 300bn Korean won to domestic blind pool private equity and venture capital funds for 2026. Korea Post plans to commit 60bn Korean won to domestic blind pool venture capital funds in 2026. Boston Retirement has issued a request for proposal for up to an $85m private equity mandate. Apollo is reportedly halfway to its target for Fund XI, having begun raising capital for its latest flagship, which has a target of $22bn-$25bn. Nextalia has held a first close of more than €1.1bn on Nextalia Private Equity II (NPE , attracting commitments from over 200 investors.

Venture Capital and Startup Landscape

Robinhood is introducing a fund that will allow retail investors to back Y Combinator startups. A dataset of repeat founders who have gone through Y Combinator cohorts has revealed interesting insights regarding second-time founders. A new venture capital firm has attracted Yann LeCun as a member. Lightspeed partners have discussed their strategies for building a growing social media presence and their podcast, Lightwork. A new AI startup, Magic School AI, founded by an educator, has secured $63m from venture capital firms. The integration of AI into a startup's product strategy can inadvertently reduce exit value, according to a strategic adviser. WindBorne Systems raised a $37 million Series B round to scale its weather balloons and AI forecasts. A16z has backed Happy Robot at a $1.2bn valuation. Plural has backed a $43m round for next-generation battery startup Ore Energy. Exclaim Robotics Zurich-based company, has raised $4.95m in a new funding round.

robotics startups have collectively raised more funding in the first six months of the year than in the preceding two years combined. Fintech startup has been crowned Europe’s newest unicorn, raising a €30m Series C round. Oxylabs has achieved a $3.6bn valuation after a decade of declining venture capital funding, citing the right timing and partner. Global venture remained strong in July, with startup capital totaling $65 billion, a 100% increase year-over-year, and a record number of billion-dollar venture rounds. Moove has raised $250M to expand its autonomous vehicle fleet management business, with plans to eventually own robotaxis. Nscale will compute resources to AI researchers at Oxford, UCL, and Imperial.

Other Notable Developments

The UK has expanded its talent visa program to include over 100 companies. The European Union's €5bn tech superfund is now officially open for business. Clearlake Capital co-founder Behdad Eghbali is nearing a record $3.9bn deal for the San Diego Padres, which would be the most expensive franchise sale in Major League Baseball history. KKR-backed FGS acquired government affairs firm Rich Feuer Anderson, marking its second acquisition of such a firm. Mutares has completed its largest deal to date, a $450 million acquisition of SABIC’s engineering thermoplastics business in the Americas and Europe, which will be rebranded Nex Point Materials. Nordic Capital is acquiring BWX Technologies' medical isotopes business for up to $800m, marking a significant bet on radiopharmaceuticals. EQT's Scaleup Europe Fund has made its first investment, co-leading a €450m round into Finnish satellite imaging company ICEYE at a €10bn valuation.