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Private Equity 3 Hours

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11 articles summarized · Last updated: LATEST

Last updated: May 21, 2026, 11:31 AM ET

Major PE Exits and Investments

KKR secured a $2.55bn exit on CIRCOR Aerospace through its sale to Parker Hannifin, representing a significant return on a business it carved out of its broader CIRCOR International platform. The firm first acquired Circor for $1.8 billion in 2023 and will maintain ownership of Circor's naval and industrial businesses. In a separate transaction, KKR backed the UK's newest unicorn with an $80 million investment, demonstrating the firm's continued commitment to growth-stage companies across Europe.

Cross-Sector PE Activity

One Bow River backed aerospace company Ptero Dynamics with an undisclosed investment, enabling the firm to accelerate development and flight testing of its new transwing VTOL unmanned aircraft systems. Meanwhile, Accel-KKR invested in asset operations platform UpKeep, supporting the company's continued expansion and build-out of its AI-native vision for asset operations. In the AI sector, Anthropic and a consortium of PE-backed firms, including Goldman Sachs, General Atlantic, and Apollo Global Management, acquired Fractional AI to strengthen their position in the AI-native enterprise services space. Oakley Capital recruited former Red Bull team principal Christian Horner as an adviser to scout premium sports deals, while Authentic Brands Group, a PE-backed platform, prepared to acquire denim brand Lee in a move that would expand its portfolio of global brands.

Fund and Market Developments

Industrial sector PE firms tested the market for portcos, with Onex, Frontenac, and Sterling reportedly seeking buyers, while Trinity Hunt Partners formed Elevation Landscaping, a new platform in the landscaping sector. In fund developments, ICG delayed the launch of its mid-market Strategic Equity fund, following the $11 billion raised by its current Strategic Equity Fund V, which remains the biggest dedicated fund for backing continuation vehicles. Meanwhile, Step Stone adjusted its fee structure in flagship secondaries funds, lowering fees during investment periods and increasing them afterward, according to head of strategy Michael McCabe.