Private Equity 24 Hours

Last updated: September 28, 2026, 2:01 PM ET

Deal Flow

Private equity firm Veritas Capital is now the sole pursuer of UK-listed thermal processing group Bodycote after CVC ruled out a counterbid, clearing the path for Veritas to complete its £1.85bn take-private. The development removes the last competitive hurdle for the deal, which had drawn interest from multiple suitors. Meanwhile, Warburg Pincus has raised its takeover offer for Australian retirement community operator Ingenia Communities to A$5.25 per share, marking its third approach as the target's board weighs the revised proposal. The increased bid reflects intensifying competition for Australian real assets with defensive income characteristics.

In the healthcare supply chain, Linden Capital and Audax have completed the sale of Stat Lab Medical Products to Danaher's Leica Biosystems, a deal that underscores continued consolidation in diagnostic consumables. Separately, Avesi Partners has backed New Age Medical, a St. Louis-based distributor that connects medical device manufacturers with sales representatives in the spinal surgery market.

Buyouts & Growth Equity

GTCR has sealed its acquisition of Tactacam, the Billings, Montana-based maker of cellular-connected trail and security cameras, from Bertram Capital. The deal gives GTCR exposure to the fast-growing outdoor recreation and property surveillance segments, where cellular connectivity is driving recurring subscription revenue. In the services sector, Coalesce Capital has made a growth investment in Clear Defense, a pest control firm founded in 2013 that now operates 27 locations across 16 US states. The investment comes as pest control continues to attract private capital due to its recession-resistant, recurring revenue model.

Veritas Capital's Finalsite has bolted on Rev Trak, a school payments processor serving more than 13,000 US schools. The acquisition extends Finalsite's education technology platform into financial transactions, a logical adjacency that deepens the company's relationship with school districts. In the live events space, Fifth Ocean Capital and Tartan Investment have backed Complete Production Resources, an Orlando-based provider of audio, lighting, video, and staging services, betting on durable demand for in-person events.

Fundraising & Strategy

Blackstone has consolidated its private markets platform into a single perpetual vehicle with the launch of Blackstone Private Markets Fund (BXPM). The move simplifies access for wealth-channel investors and reflects the firm's push to capture retail capital flows that increasingly favor evergreen structures over traditional closed-end funds. Franklin Templeton is similarly doubling down on its evergreen private markets franchise across EMEA, with the $1.8trn asset manager betting on client diversification as it expands distribution of semi-liquid vehicles in the region.

Temasek has taken a 9% strategic minority stake in the management company of FSI, deepening its push into Italy's mid-market. The Singaporean sovereign investor's move signals continued foreign appetite for Italian small and mid-cap businesses, a segment that has become increasingly active for private equity. In the UK, Growth Capital Partners has named Richard Shaw as managing partner in a leadership reshuffle as the firm, which invests from its £4bn fund, positions itself for its next cycle.

Regulation & Market Structure

UK venture capitalists are pushing for US-style rules to reduce the cost of launching funds, arguing that current domestic regulations put British managers at a competitive disadvantage to their American counterparts. The call comes as regulators on both sides of the Atlantic scrutinize private fund practices. In the US, the SEC has voted on what the industry calls "responsible retailisation" — a framework aimed at protecting retail investors while allowing broader access to private funds, a regulatory development that could reshape distribution dynamics for GPs targeting wealthy individuals.

Talent & Hiring

Ferghana Investment Partners has hired Will Callahan from TZP Group and Katie Marshall from PNC, strengthening its hybrid capital team. The additions come as the firm continues to provide middle-market businesses with flexible capital positioned between senior debt and traditional equity. The hires reflect broader competition for deal talent as firms seek specialists who can structure complex transactions across the capital stack.

Energy & Infrastructure

Tailwater Capital is making a strategic pivot toward gas infrastructure, with the firm signaling it will be "much more weighted toward gas infrastructure than oil " The shift, detailed in a deep dive into the firm's strategy, reflects growing conviction that natural gas will play a central role in the energy transition as a bridge fuel and as a feedstock for power generation supporting AI data centers. The repositioning comes as infrastructure investors increasingly favor assets with contracted cash flows and long-term demand visibility.

AI & Technology

The AI boom is creating demand for a new kind of accountant, and MAVI has emerged from stealth with $4m in funding to build an AI-powered global accounting talent marketplace. The startup aims to match companies with finance professionals who can navigate AI-driven workflows, addressing a skills gap that is becoming acute as enterprises automate routine accounting functions. In cybersecurity, the accelerating pace of AI-generated threats is drawing dealmakers to the sector. Apax's Patrick Kane and Permira's Stefan Dziarski discuss how the AI-vs-AI dynamic is reshaping investment strategies, with Permira's Dziarski detailing growth plans for fraud intelligence business Bio Catch in the age of generative AI.

Startup Ecosystem

The judges for TechCrunch Disrupt 2026's Startup Battlefield 200 have been announced, with five VCs set to evaluate contenders after thousands of applications and multiple review rounds. Founders still have until October 2 to secure exhibit tables at the event, which serves as a key launchpad for early-stage companies seeking visibility and capital.

Venture Perspectives

Sandhya Venkatachalam, founder and managing partner of Axiom Partners, an early investor in Groq, expects half her bets to fail. In an interview, she discusses the firm's AI strategy and the discipline required to achieve venture-scale returns while acknowledging the high failure rate inherent in early-stage investing. Her candid assessment underscores the risk-reward calculus that defines venture capital, even in the current AI gold rush.

UK Tech & Policy

Monzo's sale talks have reignited fears over Britain's tech exit problem, with critics arguing that the country's most promising startups continue to sell to foreign buyers rather than listing domestically. The pattern, described as "we build them and sell them," raises questions about the long-term viability of the UK's technology ecosystem. Separately, Cohere's chief AI officer has warned that the US and China will hold Europe "by the throat" if the region fails to develop local AI capabilities, a stark assessment of the geopolitical stakes in the AI race. Peter Thiel's critique of European tech — that it lags on innovation and risk-taking — is both right and wrong, according to a nuanced analysis that acknowledges Europe's regulatory burdens while pointing to its strengths in deep tech and manufacturing.

Emerging Opportunities

A Lisbon-based startup called Humanos has raised €3.2m to tackle insurance for AI agents, an emerging category that addresses liability questions as autonomous systems take on more decision-making responsibilities. The funding round highlights the growing intersection of AI and insurtech, a space that could become significant as enterprises deploy AI agents in production environments. The Sifted Summit is set to feature discussions on these themes, with organizers touting additional reasons to attend the upcoming event for founders and investors across the European startup ecosystem.