Private Equity 3 Days

Last updated: August 14, 2026, 8:31 AM ET

Mergers & Acquisitions

Thoma Bravo has agreed to acquire the specialty insurance risk exchange platform Accelerant for over $4 billion. Altamont Capital Partners and Accelerant's founders are expected to retain equity stakes in the company following the transaction. In a separate deal, CVC DIF, the infrastructure arm of CVC, has agreed to purchase German data center operator firstcolo from Cube Infrastructure. Providence Equity has also agreed to acquire property valuation data firm Hometrack.

Fundraising and Investment Activity

Accel has closed its ninth early-stage Europe fund at $800 million. The venture capital firm also recently closed an oversubscribed $550 million India fund within weeks of its previous one. In other fundraising news, HarbourVest is deploying its seventh flagship co-investment fund, HCF VII, which recently closed at $4.75 billion, focusing on AI and healthcare innovation. New 2ND Capital is nearing a $1.25 billion close for its Fund IV.

Venture Capital and Startup Funding

Thrive Holdings, backed by OpenAI, has raised $2 billion in new funding at a $12 billion valuation. Investors in the round include SoftBank, D1 Capital Partners, and Altimeter Capital. In the fitness sector, startup investment totaled over $3.6 billion in the first half of the year, with investors prioritizing AI and data-driven solutions over traditional equipment, according to Crunchbase News. Scaleup Europe, a public-private fund targeting $5.7 billion, made its initial investment in Finnish satellite company ICEYE.

Sector-Specific Deals

In the data center space, CVC DIF has agreed to acquire a majority stake in Frankfurt-based colocation data center operator firstcolo from Cube Infrastructure. Silver Lake and Digital Bridge are reportedly exploring a $100 billion exit for Vantage Data Centers, considering either an IPO or a sale. In the financial services sector, Bank of America has agreed to invest up to $1.9 billion for a stake of up to 49.9% in Jio Credit, the lending arm of Jio Financial Services.

Industry Trends and Commentary

European fintech continues to grapple with a significant culture problem, according to Sifted. Meanwhile, valuations in credit secondaries are drawing scrutiny from US investors, as discussed in a recent webinar by PEI Group. The SEC is also increasing its focus on the valuations of private funds, with examiners posing specific questions about funds in their requests.

Consolidation and Strategic Investments

Charger-backed Wolf-Gordon has acquired interior surfaces providers Andor Willow and Walls & Interiors, expanding its reach in the architecture and design community. Bernhard-backed Optimum Energy has acquired Hussung Mechanical Contractors and HMC Service Company, bolstering its capabilities in serving critical facilities. Resurgens Technology Partners has invested in quality compliance platform Qarma, aiming to accelerate its AI roadmap and international expansion.

Notable Transactions

Thoma Bravo has completed the $466 million take-private of validation software firm Kneat. Apax is set to sell food supply chain logistics provider Tosca to Goldman Sachs Alternatives, marking a significant exit for the private equity firm. In the energy sector, Providence Equity has agreed to sell its live entertainment business, ATG, which operates 70 venues globally, to Mari in a private equity deal.

Emerging Technologies and Markets

40 companies joined the Unicorn Board in July, marking the highest count in four years, with financial services, robotics, AI orchestration, and semiconductors leading the surge. The demand for AI infrastructure is driving deal momentum in the engineering sector. Drone startups are also attracting significant investor attention, with VCs watching a select group of 10 drone startups in particular.

Private Credit and Secondaries

CVC Credit has priced Apidos LVIII, a new $550 million collateralised loan obligation, highlighting a busy issuance period for the credit arm of CVC. Korea's National Pension Service (NPS) has increased its exposure to credit secondaries by an additional $1 billion, bringing its total secondary funds and co-investments to approximately $3.7 billion. Hollyport Capital has maintained its independence by accepting backing from Blue Owl, which acquired a passive stake representing approximately 25% of the firm's economic interests.

Strategic Buyouts and Divestitures

Silver Lake is reportedly in talks to take Workday private in a deal that could be one of the largest software buyouts ever. EQT and Digital Garage have raised their tender offer for Kakaku.com to ¥3,570 a share, exceeding a competing proposal. One Rock is planning to sell environmental services firm Enviro Serve for $470 million, with the transaction expected to close in the second half of 2026.

Investment Firm Strategies

Blackstone is exploring a broader push into the US retirement market, considering the integration of private markets into target-date funds and managed accounts. The LA Fire and Police Pension system reaffirms its conviction in the lower mid-market and emerging managers, believing its portfolio's distributions have performed well. PE International highlights six key areas of the private equity market that have developed so far this year and discusses potential future trends.

European Market Activity

Lovable has raised $400 million at a $1.33 billion valuation, backed by the EU's Scaleup Fund. In the deeptech sector, London-based venture lab is actively building companies focused on environmental solutions. Sifted also covers London meetups for founders and VCs, indicating a vibrant startup ecosystem. Multiverse Computing, a Spanish startup, is vying to be Europe's next AI champion and is nearing a $500 million Series C funding round.