Private Equity 3 Hours

Last updated: June 10, 2026, 8:30 AM ET

Fund Formation & Legal Landscape Reclaimed top spot shows Kirkland & Ellis leading the 2025 fund‑formation league table, advising on 48 new funds and overseeing roughly $124bn of capital raised – a margin over rivals that reflects the firm’s aggressive capture of high‑profile GP mandates. The surge follows a broader trend of sponsors seeking counsel from firms with deep regulatory expertise as limited‑partner agreements increasingly incorporate GP‑led secondary structures, a shift highlighted in a recent fees and expenses survey that flagged heightened scrutiny on deal costs.

Strategic Stake Sales in Asia Weighing stake sale indicates that Starbucks is exploring a partial divestiture of its Japanese business, with potential valuation estimates ranging from $2.5bn to $3.1bn. The move aligns with private‑equity interest in consumer‑brand assets in high‑growth markets, echoing Sycamore’s Boots talks where the partner is negotiating a $10bn sale that would abort the retailer’s planned London IPO. Both transactions illustrate sponsors’ appetite for established consumer platforms that can be scaled through operational expertise and cross‑border synergies.

Mid‑Market Manufacturing Deal Sold to Catchment details how SK Capital exited its investment in Isolatek, a manufacturer serving data‑center and advanced‑manufacturing customers, for an undisclosed sum. The buyer, Catchment, plans to integrate Isolatek’s specialty polymers into its existing portfolio, seeking to capitalize on rising demand for high‑performance materials in AI‑driven infrastructure. This exit underscores a pattern of private‑equity firms consolidating niche manufacturers to meet the supply‑chain needs of the tech sector.

Aerospace & Defence Consolidation* Acquired majority stake reveals that Bain Capital has taken a controlling interest in FDH Aero, an aerospace and defence supply‑chain group, while co‑owner Audax Private Equity retains a substantial minority position. The deal, valued at approximately €1.2bn, positions Bain to leverage FDH Aero’s after‑market services amid rising defense spending in Europe and the United States, and reflects a broader private‑equity push into resilient, long‑term revenue streams within the aerospace ecosystem.**

Fee Structures Under Scrutiny Survey highlights concerns notes that limited partners are increasingly demanding transparency on GP‑led transaction fees, citing that many legacy LPAs lack provisions for such deals. The report finds that 68% of respondents expect fee structures to be renegotiated within the next 12 months, a sentiment that could reshape sponsor‑LP dynamics and influence the pricing of future secondary transactions.