Private Equity 24-Hour Briefing
×Last updated: March 18, 2026, 6:30 AM ET
Asia-Pacific Dealmaking & Expansion
Firms are expanding aggressively across Asia despite global exit headwinds, with Apollo Global Management making its first dedicated hire in Singapore for its new $1 billion private credit strategy, poaching talent from Warburg Pincus. Concurrently, a Singaporean buyout shop opened its first overseas office in Hong Kong to bolster investment support and investor relations capabilities, signaling continued regional focus. Meanwhile, TPG launched a new aged care platform named One Aged Care, targeting burgeoning demand in both Singapore and Malaysia's aging demographics, showcasing sector-specific strategies in the region.
European Sector Focus & Corporate Activity
European private equity activity saw major players exploring a colossal exit as Advent and Cinven moved to divest their stake in elevator giant TK Elevator, potentially realizing around €25 billion, especially as Kone entered takeover talks for the firm. In the specialized technology arena, European defense startups are garnering increased attention following geopolitical events, with one source noting the defense gap is impossible to ignore, driving investor interest. Separation challenges persist for European fintech firms, where the sovereignty problem is becoming harder to dismiss amid heightened regulatory scrutiny.
US Platform Build-Ups & Acquisitions
The US middle-market saw sustained activity, with several firms executing strategic bolt-on acquisitions. Audax Private Equity snapped up Akam, a property management firm, from seller Nautic Partners, while Knox Lane-backed Ruppert Landscape acquired Landscapes Unlimited to expand its commercial landscaping footprint in the Mid-Atlantic. In the industrial space, LFM acquired manufacturer PowerBuilt to integrate into its American Automation Group platform, and New Heritage-backed Icelandirect purchased Soma Labs, a supplement manufacturer, to deepen its contract manufacturing capabilities. Healthcare continued to attract investment, as Hildred-backed SportsMed acquired The Physical Therapy and Rehabilitation Center across New Jersey and Connecticut.
New Launches & Investment Mandates
New platforms are emerging to capture specific market demand, notably in industrial software, where TPG launched Velotic, naming Brian Shepherd as CEO and former PTC CEO James Heppelmann as executive chairman. In energy infrastructure, EIG-backed MidOcean secured a substantial $500 million investment from Japan’s Idemitsu Kosan to fuel the expansion of its Liquefied Natural Gas platform. Furthermore, Gulf capital sources may be redirecting funds toward local markets, according to a Middle East PE head in Hong Kong, as regional investors reassess US and European allocations.
LP Concerns & Governance Issues
Investor relations faced governance scrutiny, as the Nevada Public Employees' Retirement System (Nevada PERS indicated it would exit its exposure to Clearlake Capital Group due to perceived conflicts of interest arising from Clearlake’s planned acquisition of Pathway Capital Management. This follows a string of senior departures at Australia's sovereign wealth fund, with joint managing directors for private equity and real assets leaving the Future Fund. Compounding the exit challenges, the broader market is struggling to clear the existing private equity exit pipeline, noting that even assets acquired during less frothy periods are proving difficult to divest.
Sector Spotlights: Infrastructure & Technology
Firms are continuing to back essential services, with NewMile and Haywood Lane backing Wilkerson Crane Rental to finance fleet growth and strategic acquisitions, while Fort Point-backed VisuSewer acquired United Survey to bolster its wastewater infrastructure services in Wisconsin. In technology exits, Seaport capital successfully divested the tech firm Exacom to Motorola Solutions. Separately, the rise of AI funding has prompted warnings that the industry's current structure could exacerbate the wealth gap for women, according to AI investor Rana el Kaliouby, should they remain excluded from key funding and leadership roles.
UK Market Dynamics & Founder Commentary
European businesses operating in the UK continue to report success, describing the nation as an amazing hub for both investors and customers despite post-Brexit economic shifts. On the startup front, the wellbeing marketplace Healf topped Sifted’s third UK and Ireland leaderboard, reflecting strong growth in that sector. Meanwhile, founders are offering candid assessments of the venture environment; Alma CEO Louis Chatriot spoke frankly about hard choices and dismissed much of the current startup hype as "bullshit." The race to identify the next billion-dollar companies accelerated last year, with 187 firms joining the Crunchbase Unicorn Board as investors sought the next generation of major successes.