Private Equity 8 Hours

Last updated: August 28, 2026, 2:26 PM ET

Deal Activity

Private equity's dealmaking engine showed no signs of slowing. KKR and Apollo are investing about $1.9bn (C$2.7bn) to acquire a 29% stake in Enbridge's Westcoast natural gas pipeline in British Columbia, forming a joint venture that will fund two expansion programs. Meanwhile, Arcline Investment Management completed its take-private of Astro Nova, the Rhode Island maker of aerospace printing and product-identification systems, in a $272m all-cash deal following an activist-driven sale process. In the services sector, Trinity Hunt invested in management consulting firm Fisher Management Partners, establishing a new value creation services platform with Fisher as its foundational asset.

Fundraising

Fundraising activity remained robust across strategies. Franklin Templeton closed its debut $1.5bn CFO vehicle, bundling Lexington Partners secondaries exposure with Benefit Street Partners credit strategies. Crescent Capital Group held the final close of its second captive collateralised loan obligation equity fund, gathering $232m in commitments—doubling the size of its predecessor vehicle. On the institutional side, ERS Texas set its private equity pacing plan for fiscal 2027, seeking to invest up to $1bn in new commitments.

Venture Capital

Venture activity showed notable concentration and thematic shifts. Andreessen Horowitz launched a new $1.1bn fund dubbed the "Machine Age" fund, aimed at accelerating the physical buildout of AI infrastructure—a strategic pivot for the software-focused firm toward hardware. In Europe, German venture funding remains heavily skewed, with just three deals accounting for nearly half of all VC capital deployed in the country this year. Space technology is also surging: global seed-through growth-stage funding for space- and satellite-related companies has hit a record $20.3bn so far this year, already far surpassing prior annual highs.

Sector Spotlight

Healthcare technology continues to attract PE interest, particularly around patient engagement software. Clearlake Capital, Marlin Equity Partners, and New Mountain Capital are among the firms backing patient engagement tech, with new agentic AI applications driving provider adoption and creating opportunities to scale these capabilities. Separately, Flexpoint's sale of Artes Rx is being driven by specialty pharmacy and mental health demand. In the Nordics, the private markets landscape is showing renewed vigor, though questions remain about whether the momentum is sustainable or overheated.

Exits

Vista Global is weighing a potential $1bn IPO in Europe, which would convert the positions of private equity backers RRJ Capital and Rhône Group into listed equity. The move underscores the continued appetite for public listings as an exit route, even as market volatility persists across European exchanges.