Private Equity 3 Days

Last updated: August 12, 2026, 5:39 PM ET

Mega Deals and Fundraising

Thrive Holdings has raised $2bn in new funding from SoftBank, D1 Capital and Altimeter at a $12bn valuation, deepening the OpenAI-backed push to bring AI into the enterprise. Goldman Sachs agreed to acquire ETFs provider Neos Investments for $2.25bn, adding $30bn in options-based income ETF assets. Accel raised $800m for its ninth early-stage Europe fund, while the firm also closed an oversubscribed $550m India fund within weeks, with more than 55% of its previous $650m India vehicle still available. Scaleup Europe, a public-private fund targeting $5.7bn, made its first investment by backing Finnish satellite company ICEYE. StepStone surpassed $20bn in private wealth AUM, with its venture and growth-focused SPRING vehicle attracting nearly $1.7bn in subscriptions during the quarter. Brookfield raised a record $77bn of capital in the second quarter, led by private equity.

Private Credit and CLOs

TDR Capital is exploring a sale of British private credit manager Arrow Global, which it took private five years ago. CVC Credit priced Apidos LVIII, a new $550m collateralised loan obligation, extending a busy year of CLO issuance for the credit arm of buyout group CVC. US investors have raised questions over credit secondaries valuations, with executives from a New York pension fund and a Dallas-based multifamily office voicing concerns during a PEI Group webinar.

Healthcare and Life Sciences

Astorg completed its buyout of Thermo Fisher’s microbiology business, adding to PE activity in life sciences. PE-backed CHG Healthcare acquired medical staffing firm Krewe Anesthesia. Mountaingate exited its healthcare commercialization platform Relevate after partnering in 2020. Gridiron Capital invested in life sciences back-office solutions provider van den Boom & Associates.

Secondaries and Continuation Vehicles

Exponent closed a single-asset continuation vehicle of about $867m (€750m) to hold on to H&MV Engineering, tapping Apollo, Pantheon and SQ Capital. HarbourVest revealed deployment strategy for its $4.75bn flagship co-investment fund, targeting AI and healthcare innovation. Monogram completed a continuation fund for beverage company Mountaintop, with Apollo S3 as lead investor. Hollyport maintained independence by selling a passive stake that will ultimately represent about 25% of economic interests to Blue Owl. Bernhard Capital agreed to take-private Bowman Consulting Group for $1bn, including a 35-day go-shop period.

Infrastructure and Energy

I Squared Capital agreed to acquire oOh!media in a $733m enterprise value take-private at a 100% premium. CPP Investments is committing $143m for a 49.5% interest in two Hilton hotels in Brazil. Solar energy is drawing private equity interest alongside Providence’s agreement to sell live entertainment business ATG to Mari. VSS closed a minority stake in Cordoba, betting on infrastructure transformation and viewing AI as a net positive for infrastructure demand.

Technology and AI

Thoma Bravo completed the $466m take-private of digital validation software firm Kneat. Lovable raised $400m backed by the EU’s Scaleup Fund. ClearJet raised a $25m Edison Partners-led Series B to build an AI-enabled logistics platform connecting shippers with unused cargo capacity. Drone startup Uforce is targeting upwards of a $4bn valuation in a new raise. Index is in talks to lead a $500m round for a Deep Mind researcher’s new AI lab. A wave of AI IPOs could return significant liquidity to LPs, fueling a new venture fundraising cycle. DeepMind’s future has become critical for the UK’s AI ambitions amid a shakeup. NVIDIA has lined up Apollo, Blackstone, Brookfield, and KKR behind a $500bn move to make compute an asset class. AI is a business change, not a technology change, argues a Crunchbase piece. Deeptech founders are dictating term sheets in 2026.

Consumer, Beverage, Sports

Monogram’s continuation fund for Mountaintop beverage is part of a slate of PE deals in beverages. Bain, Platinum Equity, and Monogram lead recent deals in the sector. Apollo Sports Capital invested $2.6bn in Yankee Global Enterprises, parent of the New York Yankees, to support franchise growth and refinancing. Baymark acquired healthy meal prep company Meal Prep Sunday, its 66th acquisition. Provectus Capital made its Romanian debut by acquiring a majority stake in Seatbelt Consulting, the country's largest occupational health and safety provider.

Industrial and Manufacturing

Alro Steel landed a majority investment from Lindsay Goldberg; the Glick family retains a significant stake. THL Partners invested in pavement maintenance firm Pave Masters. New Heritage invested in locomotive parts manufacturer Power Rail. New Mountain agreed to acquire fire safety provider Jensen Hughes from Gryphon. Amberjack Capital closed the carve-out of Flowserve’s PMV Automation group. HIG Capital completed the acquisition of UK engineering firm Phoenix ME. Altamont-backed Big Top Manufacturing acquired Coast to Coast Contracting. Clearlake-backed PrimeSource Brands acquired Starborn Industries. Vance Street-backed Keltec acquired AJF Filtration. Quad-C invested in occupational safety platform Paradigm. Western Botanicals, backed by Riverside, invested in dietary supplement developer Yellow Emperor. CCMP Growth-backed Airo acquired plumbing and HVAC firm Legrande’s Enterprises. One Rock is selling environmental services firm Enviro Serve to Clean Harbors for $470m. Godspeed-backed BNP Group acquired cost management firm US Cost from Schneider. Reverence Capital-backed Sunstar picked up insurance agency RJR Faribo.

International and Spain

Ardian co-CEO Mark Benedetti sees most mispricing opportunities in European assets and secondaries, with more families seeking international partners. The Spanish mid-market is drawing dealmakers as family-owned companies approach succession decisions. PE talent is raining down on Spain, according to a Side Letter. Private equity is playing in Europe’s growing HVAC market. Monashees, one of Latin America’s oldest VC firms, is opening a Silicon Valley office. South Summit 2026 highlighted three trends shaping European tech. 16 energy startups to watch in Europe, according to investors. Lessons from Ukraine on keeping up morale among tech workers. 17 physical AI startups to watch, per VCs. First Momentum’s cofounder highlighted underrated deeptech areas. Ex-LocalGlobe trio is plotting a new VC firm. Nabla’s new CEO said he’s not there to be acquired.

Fundraising and LP Trends

The LA Fire and Police Pension reaffirmed its conviction in lower mid-market and emerging managers, with the head of PE at the $38bn system believing distributions have fared well. Plymouth County Retirement Association issued an RFP for a North American PE manager. Korea’s Employment Insurance Fund seeks to commit 120bn Korean won to blind-pool PE/VC funds. KKR took a strategic stake in Crowe’s advisory business. Apollo, Blackstone, Brookfield, and KKR lined up behind NVIDIA. Global unicorn counts in H1 2026 have already surpassed 2025’s totals, with 195 new companies. Fitness startup funding is rebounding, but investors want AI and data, not treadmills. Side Letter: TPAI? covers SWFs leading AI investing. Side Letter: Secondaries divergence notes continuation fund activity outstrips traditional secondaries. Side Letter: On your marks highlights valuations under scrutiny by the SEC. Ex-APG PE veteran John Renkema explains how pensions can better assess performance. Top private equity news of the week includes Apollo’s £5.7bn recommended offer for easy Jet.