Private Equity 3 Days

Last updated: August 15, 2026, 11:40 PM ET

Private Equity

Thoma Bravo has agreed to acquire specialty insurance risk exchange platform Accelerant from Altamont Capital Partners and the company's founders for more than $4bn, with the sellers retaining equity alongside the buyer. Apax sold food supply chain logistics provider Tosca to Goldman Sachs Alternatives, marking the latest exit for the buyout firm which first backed Tosca in 2017. EQT and Digital Garage raised their tender offer for Japanese price-comparison site Kakaku.com to ¥3,570 per share ($22.40), topping a rival proposal in a competitive bidding process. CVC DIF agreed to acquire a significant majority stake in firstcolo, a Frankfurt-based colocation data centre operator, from Cube Infrastructure. Providence Equity entered into an agreement to acquire Hometrack, a provider of digital property valuation data and risk analytics, from its previous owners. Astara Capital snapped up Dynatec, an industrial wastewater treatment company serving food and beverage, automotive, data center and general manufacturing markets. Bernhard-backed Optimum Energy acquired Hussung Mechanical Contractors and HMC Service Company, expanding its footprint in mechanical contracting services for healthcare systems, universities and mission-critical facilities. Charger-backed Wolf-Gordon completed acquisitions of Andor Willow and Walls & Interiors, two interior surfaces providers, bolstering its portfolio in wallcoverings and high-performance interior finishes. Shurco, backed by Behrman, acquired Heavy Motions Inc, a manufacturer based in Yankton, South Dakota, specializing in cargo covering, cargo control and containment systems.

Private Equity Fundraising

EQT launched its €5bn Scaleup Europe Fund with a €450m anchor cheque to back satellite operator ICEYE at a €10bn valuation, marking one of the largest European growth fund debuts. New 2ND Capital is targeting a Q4 or Q1 close for its $1.25bn Fund IV, which has already activated and completed its first deal. Korea’s NPS added another $1bn of secondaries exposure, growing its secondary funds and co-investments 36% to approximately $3.7bn. La Caisse reported a 4.3% decline in its private equity portfolio in the first half of 2026, significantly underperforming a benchmark that gained 8.0%. Korea’s NPS saw its private equity assets under management rise 12%, though PE now represents 7.2% of its total portfolio, down from 7.8% the prior year. Blackstone is exploring a broader push into the U.S. retirement market, looking to incorporate private markets into target-date funds and managed accounts. WestBridge agreed to acquire a majority stake in Beckett Investment Management, an English financial planning firm, from Foresight Group. RF Investment Partners invested in RJ Underground, a drilling company serving municipal, utility, commercial and residential customers. Braemont invested in Thought Logic, a consulting firm, to support its next phase of growth. Resurgens Technology Partners backed Qarma, an AI-powered quality and compliance platform connecting brands, retailers, manufacturers, suppliers and inspectors across global supply chains.

Venture Capital

Joshua Kushner warned Silicon Valley VCs against AI euphoria, cautioning that excitement should not weaken investment discipline, in his first-ever investment letter. Databricks raised another $5 billion just eight months after its previous round, underscoring continued investor appetite for enterprise AI infrastructure. Vetspire secured backing from Battery Ventures to accelerate product innovation and AI development for veterinary teams of every size. Multiverse Computing is nearing a €500m Series C funding round as it positions itself as Europe’s next AI champion in quantum computing. EQT Life Sciences joined a $152m Series B raise for Vaderis Therapeutics, contributing $17.5m to fund rare-disease clinical trials. Silver Lake is in talks to take Workday private in a deal that would rank among the largest software buyouts ever. Silver Lake and Digital Bridge are weighing a $100bn IPO or sale of Vantage Data Centers, exploring an exit that could value the hyperscale operator at approximately $100bn. ASML, Amadeus and other enterprise software leaders committed to backing Mistral’s data centre buildout across Europe. 40 companies joined the Crunchbase Unicorn Board in July, the highest count in four years, led by financial services, robotics, AI orchestration, multimodal AI, energy and semiconductors. Sarah Buchner founded Trunk Tools, an AI construction startup, after transitioning from a background as a teenage carpenter to venture-backed innovator.

M&A & Strategic Moves

PIF outlined a 2026-2030 strategy shifting emphasis from rapid capital deployment toward active ownership and deeper private investor participation. Pimco and Pollen Street are among suitors circling the riskiest portions of a €1.2bn ($1.4bn) non-performing loan package being sold by Italy’s BFF Bank. Northern Gritstone plans to open a San Francisco office to expand its UK spinout investing reach. DCG, backed by Granite Creek, merged with Urban Emu, a digital and tech firm, to expand technology capabilities. Marlin’s Radar Healthcare completed the add-on acquisition of Cemplicity, a patient experience and outcomes platform operating in Australia, New Zealand, the Middle East and the UK. Hollyport Capital chose to remain independent, accepting backing from Blue Owl in a move reflecting the industry’s trajectory toward consolidation and growth.

Market Commentary & Trends

European fintech faces a culture problem as scaling startups struggle with leadership transitions and retention amid intense competition. London’s startup ecosystem is experiencing a funding surge in 2026, driven by renewed investor confidence and policy support. Drone startups are gaining traction in 2026, with VCs identifying ten companies to watch across logistics, agriculture and defense applications. Europe’s top public funds dominated H1 2026 activity, with the top 30 allocators accounting for over 60% of total commitments. Local economy themes are increasingly shaping investor allocations as LPs seek resilience and regional impact. SEC scrutiny is intensifying around private fund valuations, with examiners requesting detailed data by fund name and enforcement actions on the rise. Travel and tourism continues to attract private equity interest, with firms targeting resilient consumer-facing assets post-pandemic. A London venture lab is quietly building deeptech startups focused on climate and sustainability, operating under the radar but with growing institutional backing.