Last updated: March 20, 2026, 5:30 PM ET
Fundraising & Deal Activity
Blackstone announced the successful closing of its newest Asia-Pacific buyout fund, securing over $12 billion, demonstrating continued LP appetite for large-scale established managers despite broader market caution. Concurrently, growth equity firm Coefficient Capital raised $500m across two distinct vehicles to scale its consumer investment mandate. In the secondary market, Abu Dhabi Investment Council is marketing $2bn-plus in existing fund stakes as the sovereign entity adjusts its portfolio, which currently comprises approximately 61% private market assets, while Mutares is preparing for a €2.5bn acquisitions pipeline geared towards increased transaction activity beginning in the second quarter of 2026.
Sector Focus: Technology & Healthcare
The technology sector remains a primary magnet for capital, though overall deal sizing appears to be contracting, with the week’s largest U.S. venture rounds emphasizing cybersecurity and privacy protection. This trend is mirrored in venture capital, where AI startups commanded a record-high 41% share of the $128 billion raised by companies on Carta last year. Reflecting this focus, Philippe Laffont’s $70bn Coatue Management is launching a new dedicated AI and technology crossover fund, while in the lower middle market, LLR Partners-backed Viventium acquired Perks4Care, a platform specializing in rewarding caregivers, signaling continued private equity interest in human capital management within post-acute care.
Strategic Exits & Platform Building
Private equity firms are actively executing strategic exits and building out specialized platforms across diverse industrial and technology verticals. KKR is preparing to divest CoolIT, the data center liquid cooling specialist, in a transaction valued at $4.75 billion, with the sale expected to finalize in the third quarter of 2026. Separately, Bain Capital and 3M are combining their assets to form a new fire and safety platform through the $1.95 billion acquisition of Madison Fire & Rescue, which will be merged with 3M’s Scott Safety breathing apparatus division. Furthermore, activity in healthcare benefits management continues, drawing interest from firms including InTandem, NMS Capital, and WestView Capital, alongside Palladium Equity Partners’ agreement to purchase a hospice care provider.
Geographic Expansion & Credit Markets
Global private equity players are reassessing geographic footprints, with TPG actively seeking to re-establish a firm presence in Japan by adding its first dedicated secondaries professional for TPG New Quest in the region. Meanwhile, major credit vehicles are proceeding with structured financing, as Blackstone’s $83bn BCRED prepares new CLO issuance, with collateralised loan obligations through its flagship private credit arm.