Private Equity 8 Hours

Last updated: August 26, 2026, 8:42 AM ET

Deals & M&A

The takeover battle for Australian vehicle leasing group Fleet Partners has drawn a fourth bidder, with Japan's Sumitomo Corporation lodging an A$813.1m ($582m) offer. Pacific Equity Partners leads the four-way contest, which has intensified as multiple suitors circle the asset.

Accel-KKR-backed Basware has signed a binding agreement to acquire Trustpair, pairing its invoice lifecycle management platform with the target's payment fraud prevention technology. Trustpair, a Nacha Preferred Partner, verifies suppliers' bank account details for finance teams using ERP and procurement platforms such as SAP, Oracle and Coupa. The deal reflects growing demand for invoice-to-payment assurance in an era of rising financial crime. The transaction also highlights how payment fraud prevention has become a strategic priority for financial software platforms.

In a separate transaction, Falfurrias-backed cap Spire has acquired Fin Tark, a London-based commodity trading and risk management consultancy with expertise across European energy and global metals markets. The acquisition deepens cap Spire's CTRM consultancy capabilities in key commodity verticals.

Secondaries & Fundraising

Secondary market fundraising hit a record $166bn in 2024, according to new research, as institutional investors increasingly turn to the asset class for liquidity solutions. The record fundraising underscores the market's maturation, though regulatory challenges loom as the industry scales. The editor's view notes that sustained growth will require careful navigation of evolving rules.

Hong Kong real estate tycoon Peter Woo's family office is exploring a sale of around $1bn of private equity fund stakes on the secondary market. The potential secondary sale would be one of the larger LP-led transactions from an Asian family office in recent years.

Swiss LP adviser InPact is entering infrastructure secondaries and eyeing further opportunities in private equity and real estate, according to founder and CEO Antoine Prudent. The institution is looking to boost its infrastructure exposure amid growing demand for GP-led transactions in the space.

The global secondaries market continues to attract new entrants and capital, with buyer sentiment remaining robust despite valuation uncertainties. Meanwhile, the latest SI 50 ranking highlights the world's top secondaries firms, which are consolidating their positions in an increasingly competitive landscape.

Sports & Alternative Assets

Professional sports team deals are surging in 2026, with rising valuations and rapid movement among transactions. Apollo, Arctos and Blue Owl are among the firms making significant sports team investments, betting on continued appreciation of franchise assets and new revenue streams from media rights and international expansion.

The private markets 2030 outlook suggests alternative assets will continue to grow in sophistication, with secondaries playing an increasingly central role in portfolio management.

AI & Technology

Venture investors have poured more than $7bn into legal and legal tech startups over the past two years, most with an AI focus. Funding to the space hit a record $4.6bn last year, though 2026 funding is tracking slightly below that all-time high as investors become more selective.

Brookfield argues that the edge in AI investing lies in operational know-how rather than pure technology bets. The firm's approach emphasizes operational expertise as a differentiator in deploying capital across AI-enabled businesses.

A new MIT report reveals that only 5% of AI pilots succeed, highlighting the gap between hype and real-world implementation. The findings underscore the importance of creating real value beyond experimentation in enterprise settings.

AI is transforming alternative assets across the entire lifecycle, from fundraising to exits, according to industry analysis. The technology is reshaping fundraising and operations in ways that could fundamentally alter how private markets function.

Women of Influence in the alternatives space weigh in on AI's impact, offering perspectives on how the technology is changing investment processes and portfolio company operations.

Fundraising & LP Activity

The Texas Permanent School Fund, a $62bn pension, is increasing its leverage capacity to 15% as it seeks liquidity solutions in a constrained distribution environment. The move reflects broader leveraging for liquidity trends among large institutional investors.

Veteran LP Robert Ross will lead private equity at USS, replacing Geoffrey Geiger, who left the pension last year. Ross will report to Ben Levenstein, head of the private markets group, signaling continuity in USS's PE strategy.

Star Mountain has tapped Adam Fitzner as managing director and strategic portfolio partner, leveraging his expertise in private equity investing and operational value creation to strengthen portfolio companies.

Pan-African venture firm Ventures Platform has raised $83m for its second fund, planning to invest in startups beyond its home market of Nigeria. The Africa-focused fund signals continued investor appetite for early-stage opportunities on the continent.

Payments & Fintech

Agentic shopping — where AI agents conduct transactions autonomously — could raise the bar for payments investments, according to Apis Partners managing partner Matteo Stefanel. "Financial institutions will need to be able to participate in that lightspeed discussion between the various agents to facilitate the whole interaction," he said, suggesting that agentic commerce will drive significant deal flow in payments infrastructure.

Regional & Emerging Trends

Scottish deeptech is experiencing "a huge change happening," according to ecosystem participants, as the region matures into a credible hub for deep technology ventures. The Scottish deeptech ecosystem is attracting increasing attention from investors seeking differentiated technical capabilities.

Venture capitalists have identified 12 AI safety startups to watch, as the field gains prominence amid growing concerns about AI governance and risk management. The AI safety cohort represents an emerging investment category with significant potential.

Nine university spinouts have landed Tier-1 seed cheques in 2026, demonstrating continued appetite for deep tech originating from academic institutions. These spinout financings highlight the pipeline of innovation emerging from research labs.

Industry Data & Surveys

Secondaries Investor has launched its global market survey for 2026, seeking to capture evolving buyer and seller sentiment across the asset class. The market survey will provide critical data points on pricing, volume, and market dynamics.

The publication has also announced its Next Gen Leaders of Secondaries for 2025, recognizing emerging talent in the sector. The next generation leaders list highlights the industry's future leadership pipeline.

A new law firm survey examines the legal landscape for secondaries transactions, providing insights into regulatory and transactional trends shaping the market.

AI's effect on the nuts and bolts of private markets operations is becoming increasingly pronounced, with technology transforming back-office functions and streamlining deal execution.

Privacy & Events

A growing debate surrounds whether tech events should ban Meta's smart glasses, as privacy concerns mount over the devices' recording capabilities. The privacy debate raises questions about consent and data protection in professional settings.