Private Equity 3 Days

Last updated: August 22, 2026, 5:30 AM ET

Secondary Market Strength

CVC pricing is firming as new entrants seek to pre-empt auction processes to “differentiate themselves,” according to Lazard’s Kevan Comstock. Meanwhile, ICG backing on Onex’s Ryan continues in a fund secondaries carry, three years after the tax services provider was first moved into a single-asset continuation fund. In a separate sale process, Waterland Private Equity has emerged as the latest bidder for Gamma Communications, the London-listed business telecoms group.

Large Fundraisers & Exits

Rillet, an AI accounting startup, raised $100M and hit unicorn status in 48 hours, with growth numbers from CEO Nicolas Kopp sparking a fundraising frenzy from Iconiq, Sequoia, and others. Castelion secured the week’s biggest financing at $X million for a hypersonic missile developer, while other sizable rounds backed AI inference and video-creation startups. Steadfast Group will be taken private in a $5.5B deal and split between three US backers, and Weave was acquired by Francisco Partners for $650M, marking PE’s return to household products.

Strategic Deals & Governance

Amil is facing pressure from Advent and Bain Capital to acquire 100% of the Brazilian health insurer at a R$17B ($3.3B) valuation. Casper Studios was acquired by PE-backed Ode, which is backed by Anthropic, in an AI services deal. Meanwhile, MBS Group fell under control of HPS and Oaktree after a default, and OpenRent saw CVC take a majority stake in the UK rental platform.

Regional & Niche Plays

Medmark received a Phoenix Equity investment to expand occupational health across Ireland. Aldermore is being targeted by CVC as First Rand exits under scandal cloud, while Angels in the arena saw Arctos strike a 10% stake in the Atlanta Falcons at a $10.6B valuation. In Asia, BookMyShow drew a minority investment from KKR, betting on India’s live entertainment boom.