Last updated: March 19, 2026, 1:30 PM ET
Dealmaking and Exits
European private equity giants CVC Capital Partners and Nordic Capital are reportedly exploring sale avenues for portfolio company Cary Group, potentially valuing the business at over €3 billion, signaling continued appetite for large-scale European industrial exits. In contrast to major sales, Permira is preparing to divest its stake in Altamar CAM, the global private markets investment firm with €20 billion in assets under management, to Mercer, marking a full exit for the firm. Meanwhile, deal flow continues across the mid-market, where Ares Management is leading continuation vehicles for two European firms: one for nursery operator Kids Planet, exceeding £400 million, and another for MCH's frozen baked goods asset, raising €300 million.
Sector-Specific Transactions
Activity in the healthcare and infrastructure sectors remains high, with portfolio companies securing new backing or making acquisitions. Blackstone's portfolio company, Chicago-based healthcare advisor Chartis, has acquired health tech firm Leap AI, continuing the trend of private equity targeting AI-enabled advisory services. In a major infrastructure play, LS Power is set to acquire approximately 4.4 gigawatts of predominantly natural gas-fired generation capacity from Constellation Energy for $5 billion, focusing on assets located in Pennsylvania and Delaware. Further consolidation occurred in healthcare as B-Flexion Life Sciences-backed companies Paratek and Radius Health completed their merger, supported by a $1.3 billion financing package arranged by Sixth Street.
Secondaries and Fundraising Momentum
The secondaries market is seeing targeted deployment, particularly in the lower middle market, as HighVista Strategies appointed Raudel Yanez to spearhead its GP-led secondaries investing strategy. This follows news that Bindley Capital-backed Guardian Pharmacy Services priced a synthetic secondary offering, demonstrating alternative methods for liquidity realization outside traditional GP-led processes. On the fundraising front, the European Bank for Reconstruction and Development committed $40 million to the Templeton Türkiye Fund, which is targeting a total raise of $300 million. Separately, in Europe, ICG backed Italian railway maintenance provider Comcreta, aiming to accelerate expansion amid increasing investment in Italy’s rail infrastructure.
Strategic Moves and Regulatory Concerns
Firms are also making strategic bolt-on acquisitions and navigating operational complexities. Sterling snapped up managed IT services firm Cyber Advisors to bolster its offerings across small, mid, and enterprise clients, while Fort Point recapitalized environmental services firm Boston Green with a new investment. In the realm of intellectual property, Pophouse Entertainment has become the majority owner alongside BMG in the music interests of Tina Turner, echoing previous reports that Pophouse sought the icon's catalog. Furthermore, internal firm management is under scrutiny, as tax experts detail strategies for general partners to mitigate estate tax exposure by gifting carried interest early to allow future appreciation to accrue outside the GP’s taxable estate.
Geographic Shifts and ESG Focus
Concerns over regulatory environments are prompting shifts in founder behavior, with a recent survey indicating that one in five UK founders plans to emigrate within the next year, suggesting potential capital flight or relocation of future deal flow. Amid these concerns, capital deployment is increasingly favoring ESG mandates; BNP Paribas Asset Management Alts invested in Farm Carbon, a climate-focused vehicle designed to scale methane reduction technologies within the agricultural sector. In the digital health space, Verdane and Bpifrance backed Medadom, the first teleconsultation provider accredited by the French Ministry of Health, emphasizing regulatory compliance in digital health investments.