Last updated: March 19, 2026, 2:30 PM ET
Exits and Secondaries Activity
The market for private equity sales is seeing a disciplined approach from sellers, with several secondaries players bringing sales to market over the last fifteen months, distinguishing themselves through methodical execution compared to other limited partners. This activity occurs as major firms explore significant divestitures, including CVC and Nordic Capital planning an exit for the Cary Group that could value the business at north of €3 billion. In related transactions, Permira is preparing to divest its stake in Altamar CAM, a global private markets investment manager with €20 billion in assets, to Mercer, while Ares is leading two European mid-market continuation vehicles, one for Fremman’s nursery operator Kids Planet exceeding £400 million, and another for MCH housing a frozen baked goods asset at €300 million.
Healthcare & Infrastructure Deals
Activity in specialized sectors saw several transactions materialize, including the Blackstone-backed Chartis scooping up Chicago-based health tech advisor Leap AI, signaling continued appetite for technology integration within healthcare advisory services. Further consolidation occurred in life sciences as B-Flexion Life Sciences portfolio companies Paratek and Radius Health finalized their merger, supported by a substantial $1.3 billion financing package advised by Mintz. Meanwhile, the energy transition saw LS Power move to acquire 4.4 gigawatts of primarily natural gas generation capacity from Constellation Energy in Pennsylvania and Delaware for $5 billion, alongside BNP Paribas Asset Management Alts backing FarmCarbon to scale methane reduction initiatives in agriculture.
GP Strategy & Fund Formation
Firms are adapting investment strategies amid broader market shifts, evidenced by High Vista Strategies appointing Raudel Yanez to launch its GP-led secondaries strategy focused on the lower middle market. Separately, European development banks continue to seed emerging market funds; the European Bank for Reconstruction and Development committed $40 million to the Templeton Türkiye private equity fund, which targets a final close of $300 million. Furthermore, estate planning remains a focus for General Partners, with advisors detailing how gifting carried interest early can allow future appreciation to accrue outside the GP’s estate, netting considerable tax savings.
Sector Focus & Geographic Shifts
Deal flow in the middle market included Sterling acquiring managed IT services firm Cyber Advisors, which services clients across small, mid, and enterprise segments, and Fort Point investing to recapitalize environmental services provider Boston Green. In the UK, there are signs of potential talent migration, as a recent survey suggests one in five UK founders plan to relocate internationally within the next year, even as the region sees growth in startups employing "revenuemaxxing" tactics such as those highlighted. This contrasts with the cultural asset space, where Pophouse Entertainment acquired music interests from Tina Turner, alongside BMG, while also being linked to potential exits for HVAC portfolio companies sought by Audax and Keystone as hold periods lengthen.