Private Equity 8 Hours

Last updated: August 13, 2026, 2:48 PM ET

Mega-Deals and Exits

The private equity market saw a flurry of large transactions. EQT and Digital Garage raised their tender offer for Kakaku.com to ¥3,570 a share, about $22.40, to outflank a rival bid. In data centres, Silver Lake and DigitalBridge are weighing an exit from Vantage Data Centers that could value the hyperscale operator at roughly $100bn via an IPO or sale. Thoma Bravo agreed to take specialty insurance risk exchange Accelerant private for more than $4bn, with founders and Altamont Capital Partners retaining equity. A separate report confirms the value and notes that Accelerant’s largest investor will stay on board. On the exit side, Apax is selling food supply chain logistics provider Tosca to Goldman Sachs Alternatives; it acquired the company in 2017. Meanwhile, Bank of America will invest up to $1.9bn for a stake of as much as 49.9% in Jio Credit, the lending arm of Mukesh Ambani's Jio Financial Services.

Fundraising and LP Activity

Fundraising momentum continued as institutional investors boosted allocations. New 2ND Capital is targeting a Q4/Q1 close for its Fund IV, which seeks $1.25bn and has already closed its first deal. Korea’s National Pension Service added another $1bn of secondaries exposure, with its secondary funds and co-investments growing 36% to about $3.7bn. Blackstone is exploring a broader push into the US retirement market, arguing that incorporating private markets into target-date funds and managed accounts “can make a tonne of sense” given DC plans’ long investment horizons. A former heavyweight LP turned consultant notes in Side Letter that investors are increasingly shifting to local economy themes. A mid-year take on the market’s hottest topics examines how six key areas have developed so far in 2025.

Growth and Sector Deals

Mid-market and growth equity activity spanned multiple industries. Resurgens Technology Partners invested in quality compliance platform Qarma, which uses data from thousands of brands to power predictive AI tools; the firm will help accelerate Qarma’s AI roadmap and international expansion. In life sciences, EQT Life Sciences invested $17.5m in Vaderis Therapeutics as part of a $152m Series B round for the Swiss biotech to fund a rare-disease trial. Astara Capital acquired industrial wastewater treatment firm Dynatec, which serves food & beverage, automotive, data centre and manufacturing markets. RF Investment Partners invested in drilling company RJ Underground, serving municipal and utility customers. Braemont invested in consulting firm Thought Logic to accelerate its next growth phase. Granite Creek-backed DCG merged with digital and tech firm Urban Emu to expand its capabilities. Finally, Crunchbase News profiles Trunk Tools, an AI construction startup founded by a former carpenter, highlighting non-tech founders entering venture funding.