Private Equity 24 Hours

Last updated: March 25, 2026, 5:30 AM ET

Fundraising & Investor Activity

Venture capital managers continue to secure substantial commitments, with Kleiner Perkins closing $3.5 billion across new funds, including KP22 dedicated to early-stage companies and a $2.5 billion allocation for growth-stage plays focused heavily on artificial intelligence initiatives. In a similar vein focused on emerging managers, BKR Capital is moving toward a $50 million target for its Fund II, having already secured $20 million Canadian towards that goal as of Monday, while BRK Capital also reported reaching $20 million Canadian toward its own $50 million goal for its second fund dedicated to investing in Black founders. These capital raises signal sustained investor appetite for specialized strategies, contrasting slightly with general market concerns, as half of General Partners report AI efforts falling short in current deployment processes.

Software & Technology Investments

Deal flow remains active across enterprise software, telematics, and specialized vertical platforms, evidenced by TPG and Allianz X leading a $350 million investment into Cambridge Mobile Telematics, with participation from State Farm. Further consolidation is occurring in the healthcare technology space, where GPI-backed Hopper OS acquired Efferent, a firm specializing in configurable intelligent healthcare operating systems designed to function across the care continuum. In the enterprise resource management sector, Main Capital invested in Gingco Systems, a developer providing modular software services for intelligent workplace management, suggesting continued private equity interest in optimizing back-office operations through specialized vertical software. Meanwhile, Accel and Prosus selected six startups for their inaugural India cohort, choosing the recipients from over 2,000 applications, with each receiving between $500,000 and $2 million.

Sector-Specific Acquisitions & Divestitures

Private equity firms are actively expanding portfolios in consumer staples, infrastructure, and specialized services. Advent International agreed to purchase a majority stake in premium beauty brand Salt & Stone for $165 million, broadening its exposure within the high-growth personal care segment, while simultaneously booking a partial exit by selling its £46 million stake in review platform Trustpilot following a discounted share sale. In the food sector, Main Post invested in pretzel manufacturer Stellar Snacks, which boasts deep distribution across major U.S. retailers like Costco and Target. On the infrastructure front, Generate Capital divested its greenhouse operator Equinox Growers to Taylor Farms, a transaction supporting regional food supply chains, and Hull Street agreed to buy two power plants from Rockland, including facilities in Illinois and Ohio.

Exits, Secondaries, & Governance

Firms are testing public markets and optimizing existing holdings, with CVC and Silver Lake beginning investor outreach for a potential initial public offering of RAC that could value the entity at $6.7 billion. On the secondary market side, New Mountain Atlas is positioning itself to lead GP-led buyout deals, leveraging sector teams rather than solely relying on secondary transactions, even as AI concerns reportedly disrupt some secondaries processes. In real estate, Blackstone is seeking to dispose of approximately €100 million worth of Parisian apartments as part of a broader divestiture strategy following its initial €700 million acquisition in the city. Furthermore, governance and regulatory changes are impacting specific sectors, as the UK CMA finalized reforms for the pet care industry following its market investigation, affecting potential PE transactions in that area.

Specialized & Thematic Investments

Activity across niche markets shows PE firms targeting specialized government technology and defense contractors. TSCP invested in Karpel, a government technology firm serving prosecutor and public defender offices nationwide, while Blue Fire Equity recently made its first platform investment in defense contractor Jovian Concepts. In the realm of managed services, Goldner Hawn acquired Lone Star Environmental Companies, which services the Houston and San Antonio markets. Simultaneously, the broader European technology ecosystem is being mapped, with over 50 startups currently betting heavily on quantum computing technology, while questions arise regarding whether Ukrainian technology firms can revitalize European defense capabilities. In the education sector, Princeton Equity Group backed children’s education provider KidStrong, which currently operates 184 franchised centers across the U.S. and Canada.

Deal Structuring & Minority Stakes

Structuring transactions involving existing investors is also apparent, as Alterra joined General Atlantic and Montagu in backing Wireless Logic, building upon General Atlantic's initial minority investment from May 2025. In the wealth management advisory space, WPCG and HGGC are set to invest in RIA Verdence, a transaction that includes the sale of Emigrant Partners' existing stake in the firm. Separately, GI Partners is reportedly advancing sale discussions for American Residential Services that could yield a valuation of $3.5 billion. In the recruitment sector, Southfield invested in Metric Search, a firm focused on specialized placements in medtech life sciences, engineering, and data centers.