Private Equity 24 Hours

Last updated: March 23, 2026, 12:30 PM ET

Fundraising & Mandates

Lead Edge Capital successfully secured $3.5 billion for its seventh fund, signaling continued strong investor appetite for growth equity focused on software investments despite broader market volatility. This capital raise occurred as managers like AltamarCAM prioritize liquidity solutions, evidenced by their recent acquisition of Mercer’s secondaries capabilities, a move Michael Dempsey noted provides a "missing link" for clients seeking exit opportunities. Separately, a Japanese secondaries shop is nearing the hard-cap on its debut fund, RGCM Fund I, which will maintain flexibility to deploy capital across both direct secondaries and primary funding rounds, reflecting diverse tactical approaches in the current cycle.

Dealmaking Activity & Sector Focus

Private equity interest in Gulf energy assets remains high, with funds targeting a substantial $7 billion Kuwait pipeline deal as regional infrastructure transactions advance. In Southeast Asia, Actis finalized its deployment strategy with the acquisition of a 90% stake in Singaporean environmental management firm 800 Super for an undisclosed sum, bringing the firm’s regional deployment to $1.7 billion. Meanwhile, the technology sector saw movement as Apollo-managed funds agreed to acquire a 37% minority stake in packaging machinery firm Syntegon alongside CVC to support its next growth phase, valuing the company at €1.75 billion.

Strategic Exits & Portfolio Management

Exit activity demonstrates a trend toward partial sales and extended preparation periods, according to insights from West Monroe, as sponsors navigate more complex divestitures. In a clear instance of a partial exit, Apollo took a stake in Syntegon, while Olympus Partners is preparing to sell the retina business of its portfolio company Eye South for $1.1 billion. Furthermore, Advent-backed Cobham Ultra entered a definitive agreement to divest its Ultra Cyber division to Airbus Defence and Space, marking a specialized carve-out from the defense contractor.

Software & Fintech Transactions

The enterprise software space saw several tactical acquisitions aimed at platform expansion. Diversis scooped up fintech firm LTi, ensuring the co-founders retain minority ownership and remain involved in the company’s trajectory. In a move to bolster its Salesforce integration capabilities, Gryphon-backed Rootstock acquired ERP software provider Ascent Solutions, which specializes in cloud ERP applications. In the UK, One Equity completed a take-private transaction for Kitwave, a wholesale distributor of consumables to foodservice and retail customers.

Sector-Specific Investments & Returns

Firms are keenly pursuing growth in specialized areas, with AEA Elevate taking an investment position in technology firm Trinamix, which serves enterprise and mid-market organizations. The pursuit of outsized returns continues in niche segments, where independent sponsors often seek returns exceeding 3x by demanding greater deal selectivity and accepting lower initial valuation multiples compared to traditional funds, per Headway Capital Partners research. On the technology front, OpenAI is reportedly offering investors a guaranteed minimum return of 17.5% to secure private equity capital for its joint venture initiatives in artificial intelligence.

Personnel Moves & Emerging Figures

The industry is witnessing both established leaders shifting roles and new dealmakers emerging. ECI announced the appointment of David Danon as a new partner, bringing nearly two decades of experience from Bain Capital. At GTCR, Donnie Phillips was appointed managing director and chief administrative officer, based in the firm’s Chicago office. Meanwhile, former Green Bay Packers wide receiver Terrence Murphy has launched Synergy Sports Capital, announcing the firm’s debut deal shortly after its March unveiling.

Infrastructure & Energy Commitments

Major infrastructure commitments are solidifying large-scale energy projects. Ares Management committed at least €1 billion as part of a €1.5 billion capital increase for Plenitude, which values the energy firm at €13.1 billion following a deal structure with Eni. In broader investment activity, the potential for evergreen drama in Australian funds, potentially stemming from "mis-selling," remains a concern for limited partners, according to a recent side letter analysis.