Last updated: March 20, 2026, 4:30 PM ET
Fundraising & Capital Deployment
Blackstone successfully amassed over $12 billion for its newest Asia-Pacific buyout fund, continuing a trend of large capital raises despite broader market slowdowns in dealmaking. This move coincides with Partners Group planning to launch its inaugural India-focused buyout fund targeting at least $1 billion to deepen its local presence. Meanwhile, growth equity firm Coefficient Capital secured more than $500 million across two vehicles to scale its consumer growth investment strategy. In contrast to mega-fund activity, weekly large U.S. funding rounds shrank in size, though cybersecurity and artificial intelligence startups remained top magnets for capital.
Secondaries Market & Portfolio Management
The Abu Dhabi Investment Council is looking to divest a portfolio exceeding $2 billion in fund stakes, reflecting a targeted optimization of its private markets exposure, which currently accounts for approximately 61% of its total investments. Separately, TPG is actively rebuilding its Japanese private equity presence, evidenced by making its first secondaries hire in the region through its TPG New Quest division as part of a multi-asset expansion effort. This activity occurs as Permira’s exit from Altamar CAM reportedly generated attractive returns for its investors.
Sector-Specific Acquisitions: Healthcare & Industrials
Private equity firms demonstrated continued appetite for the healthcare management sector, with players like InTandem, NMS Capital, and West View Capital seizing opportunities in benefits administration. Further consolidating healthcare services, Palladium Equity Partners agreed to purchase DME Express, a hospice medical equipment provider, from Way Point Capital Partners. In related industrial consolidation, 3M and Bain Capital are jointly acquiring Madison Fire & Rescue for $1.95 billion, intended to merge with 3M’s Scott Safety division to form a new fire and safety platform. Additionally, Gryphon-backed ACA bolstered its specialty HVAC solutions portfolio by acquiring Northern Air.
Technology & Infrastructure Exits and Deals
KKR initiated the sale of its data center liquid cooling firm, Cool IT, seeking an exit valuation around $4.75 billion, with the transaction anticipated to conclude in the third quarter of 2026. In the software space, LLR Partners-backed Viventium, a human capital management provider for post-acute care, acquired the caregiver rewards platform Perks4Care to enhance its offering. On the European front, IK Partners acquired a majority stake in Dutch financial services intermediary Domek Group, which is expanding operations into Belgium and Germany.
Credit Markets & Debt Financing
Blackstone’s $83 billion private credit vehicle, BCRED, is with issuing a new collateralized loan obligation, signaling continued activity in the structured credit space. Concurrently, CVC Credit provided senior debt financing to support Waterland Private Equity’s acquisition of Palletways, indicating strong leverage availability for strategic buyouts. Elsewhere, Mutares is preparing for a substantial ramp-up in transaction volume throughout the second quarter of 2026, fueled by an acquisitions pipeline valued at approximately €2.5 billion.
AI Focus and Venture Crossover
The dominance of artificial intelligence in technology investment remains pronounced, as AI companies captured a record 41% share of the $128 billion in venture dollars raised last year, according to Carta data. While many funds focus on software, some investors are identifying opportunities in adjacent sectors, positing that the best AI investment might be in energy tech due to the massive power bottlenecks facing data center buildouts. Recognizing the accelerating pace, $70 billion manager Coatue Management is pivoting its strategy to launch a dedicated crossover fund focused exclusively on AI and related technology. This high-growth environment is also evident in public markets, where Star Capital-backed Vincorion saw strong demand during its recent €980 million initial public offering debut.