Private Equity Deals 2026: EQT's €9.6B QIAGEN Take-Private, GTCR's $6.1B CCC Bid & the Week's Key Moves

October 26, 2026 | Weekly Private Equity Roundup

The private equity landscape continues to heat up as mega-deals dominate the headlines this week. EQT's landmark €9.6 billion bid for QIAGEN leads the charge, while GTCR and Elliott's $6.1 billion take-private of CCC Intelligent Solutions and Proofpoint's $6.3 billion acquisition of Varonis signal deepening appetite for technology-focused buyouts. Here's your weekly roundup of the deals, fundraises, and strategic moves shaping the PE market.

Deal of the Week: EQT's €9.6B QIAGEN Take-Private

Swedish PE giant EQT has launched a blockbuster bid to take molecular diagnostics leader QIAGEN private in a deal valued at approximately €9.6 billion ($10.8 billion). Announced on October 21, the offer prices QIAGEN shares at €46.50, representing an 8.6% premium to the pre-deal share price. Abu Dhabi Investment Authority (ADIA) and Canada Pension Plan Investment Board (CPPIB) are co-investing alongside EQT, underscoring the scale and institutional confidence behind this transaction.

QIAGEN, which provides sample and assay technologies for molecular diagnostics, has long been seen as an attractive target given its recurring revenue streams and dominant market position. The take-private, if completed, would represent one of the largest European healthcare buyouts of 2026.

Major Transactions

GTCR & Elliott / CCC Intelligent Solutions - $6.1B

GTCR, partnering with activist investor Elliott Investment Management, has agreed to acquire CCC Intelligent Solutions in a deal valued at $6.1 billion. The offer of $7.75 per share represents a significant 44% premium to CCC's undisturbed trading price. CCC is a leading provider of AI-driven technology solutions for the property and casualty insurance industry, and the consortium sees considerable upside in accelerating the company's digital transformation roadmap under private ownership.

Proofpoint (Thoma Bravo) / Varonis Systems - $6.3B

Thoma Bravo portfolio company Proofpoint has agreed to acquire cybersecurity firm Varonis Systems for $6.3 billion. The offer of $49.75 per share carries a 52% premium, reflecting the strategic value of Varonis's data security and insider threat analytics platform. The combination aims to create a comprehensive cybersecurity platform addressing both external and internal threats.

KKR / Integer Holdings - $5.7B

KKR's $5.7 billion acquisition of Integer Holdings, a leading medical device manufacturer, cleared a key hurdle on October 21 when shareholders approved the transaction. Integer specializes in advanced surgical and orthopedic devices, cardiac rhythm management, and neuromodulation components. The deal solidifies KKR's growing healthcare portfolio.

Stonepeak / Chicago Parking Meters - $2.5B

Infrastructure specialist Stonepeak completed its $2.5 billion acquisition of Chicago Parking Meters on October 21. The deal transfers one of the most well-known municipal concessions in the United States to Stonepeak's infrastructure portfolio, reflecting continued PE appetite for stable, inflation-linked cash flows.

Ares Management / Infinity Transportation - $2.9B

Ares Management has agreed to acquire Infinity Transportation from KKR in a deal valued at $2.9 billion. Announced October 19, the transaction highlights the active secondary market for PE portfolio companies, with KKR realizing a profitable exit and Ares betting on continued growth in the specialty logistics and freight sector.

Apollo / UDR Apartment JV - $1.3B

Apollo Global Management formed a $1.3 billion joint venture with UDR, a leading multifamily REIT, on October 21. The partnership will target apartment acquisitions across major U.S. metropolitan markets, combining Apollo's capital firepower with UDR's operational expertise in residential real estate.

Fundraising & Strategic Moves

Pantheon Global Secondary Fund VIII - $6B Close: Pantheon Partners announced a $6 billion final close for its eighth secondaries fund on October 21, exceeding its target by 71%. The strong fundraise reflects surging LP demand for liquidity solutions in the current market environment.

Investcorp North American PE Fund II - $1.22B: Bahrain-headquartered Investcorp closed its second North American PE fund at $1.22 billion as of October 1, reinforcing its commitment to mid-market buyouts in the region.

LSEG Acquires Octus from Permira - $3.5B: The London Stock Exchange Group completed a $3.5 billion acquisition of Octus (formerly Reorg) from Permira, marking a major PE exit in the financial data space.

CVC Exploring Verisure Take-Private: CVC Capital Partners is reportedly exploring a take-private of Verisure, the European home security group. The deal, if pursued, could further cement CVC's position in recurring-revenue consumer services.

Allfunds Strategic Review - ~€3.8B: Allfunds, the fund distribution platform, is conducting a strategic review with several PE suitors in the frame, including KKR, CVC, Permira, and Cinven. The company's market capitalization of approximately €3.8 billion makes it a sizable target.

Week in Numbers

€9.6B - EQT's bid for QIAGEN, the week's largest deal

$6.3B - Proofpoint's acquisition of Varonis, reflecting premium cybersecurity valuations

52% - Premium paid for Varonis, the highest of the week

$6B - Pantheon's secondary fund close, 71% above target

7 deals - Major announced or completed transactions exceeding $1B

Our Take

This week's dealflow underscores a clear theme: PE sponsors are aggressively pursuing take-privates of public companies with strong technology and healthcare moats. EQT's QIAGEN bid and GTCR's CCC deal exemplify the sector's willingness to pay substantial premiums for mission-critical technology assets. On the fundraising side, Pantheon's oversized secondary fund close signals that LPs are actively seeking liquidity pathways, a trend that may accelerate as sponsors look to return capital amid an uncertain exit environment. The infrastructure space remains a bright spot, with Stonepeak's Chicago Parking Meters deal highlighting the enduring appeal of long-duration, inflation-protected assets. Expect more large-cap take-privates and cross-border deals as the year-end approaches.

Sources

Reuters, Bloomberg, Financial Times, Wall Street Journal; PitchBook, Preqin; company press releases and SEC filings.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. AirFund and its affiliates may have positions in securities mentioned. Past performance is not indicative of future results. Always consult a qualified financial advisor before making investment decisions.