Private Equity 8 Hours

Last updated: June 25, 2026, 2:30 PM ET

Private Equity Dealmaking & Fundraises

Permira and Warburg Pincus led an investor group in taking Clearwater Analytics private for $8.4 billion, a significant transaction supported by Francisco Partners and Temasek. This move signals continued appetite for large-scale software buyouts. In a separate development, Advent International is set to acquire Japanese home care operator JWB from MBK Partners, marking the U.S. firm's debut in the Japanese market with a focus on the aging population sector Advent to acquire Japanese home care operator JWB. Meanwhile, CVC Capital Partners is investing in the online chess platform Chess.com, with existing investor General Atlantic retaining a stake.

Main Capital Partners has closed a record €5.25 billion in software funds in under six months, representing the largest private equity buyout fundraise ever completed in the Netherlands. This substantial capital raise underscores the continued investor focus on software assets. In the secondaries market, questions are arising about benchmarking methodologies, suggesting a potential need for greater standardization as the strategy matures and diverges from traditional private equity performance metrics.

Sector Investments & Strategy Shifts

Carlyle Group has launched a dedicated defense and reindustrialization fund, Carlyle Defense and Reindustrialization Partners, registered in June, indicating a strategic shift towards sectors deemed critical for national security and economic resilience. In the music rights space, Harbour View Equity Partners has acquired a publisher's share of certain songs written by the successful Wolf Cousins collective, including hitmakers Ilya Salmanzadeh and Oscar Holter, tapping into the lucrative and enduring value of music catalogs.

Quadrivio & Pambianco and Capdesia Group, alongside co-investors, have acquired Alice Pizza, Italy's largest fast-casual pizza chain, signaling continued investment in the European foodservice sector. Further down the M&A pipeline, Reverence Capital Partners is backing the CPA firm Eide Bailly, while Platinum Equity is acquiring Tangent from The Sterling Group, demonstrating activity across professional services and sustainable building products.

Artificial Intelligence & Technology Focus

The advantage in artificial intelligence for private equity firms is increasingly being built by operators, as AI capabilities and vendor landscapes evolve rapidly, demanding sophisticated execution. This requires founders to focus on long-term scaling rather than immediate funding rounds, particularly in Europe The private equity AI advantage is built by operators. This technological imperative is also driving investment in related infrastructure, with EQT securing a sustainability-linked fund facility, emphasizing materiality and impact in its financing.

Liquidity, Exits & Financing

KKR has reported that its monetization activities have exceeded $900 million for the period between March 31 and June 24, 2026, indicating an acceleration in capital realizations and distributions to investors. This push for liquidity is echoed by the Ohio Teachers' pension fund, which is prioritizing liquidity in its private equity pacing for fiscal year 2027, aiming to address a $4 billion annual deficit. Developments in Net Asset Value (NAV) financing are creating a more flexible yet complex ecosystem for lenders and investors navigating these liquidity needs NAV financing is coming of age.

Blue Owl Capital is reportedly in advanced talks to acquire a minority stake in the NBA's Cleveland Cavaliers, a move that would expand private equity's reach into professional sports franchises. In the startup ecosystem, Bessemer Venture Partners-backed Mas Restaurant Group has sold 43 Taco Bell locations in Ohio to Southpaw, a move that highlights ongoing consolidation and strategic divestitures within franchisee networks. Meanwhile, European health unicorn Alan raised €480 million in a Series G round led by Prosus, demonstrating continued investor confidence in the health-tech sector despite broader market recalibrations.