Morning all, Craig McGlashan here with the Europe Wire from the London newsroom. We’re looking at three big themes in investing this morning: water management, defense and battery storage. First up, PE Hub’s Nina Lindholm speaks to Nordic Capital’s Andreas Näsvik and White & Case’s Serra Tar about why the European water treatment sector is drawing strong private‑equity interest, citing growing regulatory pressure and the need for sustainable infrastructure. The conversation notes that funds are attracted by long‑term contracts and the sector’s resilience to economic cycles.

Next, Bridgepoint backs a Danish defence business, underscoring the rising demand for European security solutions amid shifting geopolitical risks. Finally, Ardian is set to acquire a stake in a German battery‑management‑system (BMS) company, signaling confidence in the rapid expansion of the EV supply chain and energy‑storage markets.