Last updated: March 20, 2026, 1:30 AM ET
Dealmaking & Exits in Europe
European buyout activity shows sustained momentum, with CVC & Nordic Capital exploring exit options for Cary Group that could value the business in excess of €3 billion, while Permira plans to divest its stake in Altamar CAM to Mercer, which manages €20 billion in assets. In the mid-market space, Ares is leading two continuation vehicles, including a fund for nursery operator Kids Planet exceeding £400 million and a €300 million vehicle for a frozen baked goods asset managed by MCH. Furthermore, ICG is backing railway maintenance provider Comcreta to accelerate expansion amid rising investment in Italian rail infrastructure.
Secondaries and Capital Solutions
The secondaries market is seeing evolving strategies, with some LPs adopting a disciplined approach to bringing sales to market over the last 15 months, distinguishing themselves from typical sellers. This activity is supported by GPs utilizing specialized vehicles; Bindley Capital-backed Guardian priced a "synthetic secondary" offering for the long-term care pharmacy services firm. Simultaneously, sector preference is shifting away from technology; Houlihan Lokey observes a boost in interest for other areas as the market adjusts to tech disruption, even as tech-focused funding like the $100 million Series B for Bluesky continues development of its ATProto infrastructure.
North American Transactions & Fund Activity
Firms are actively deploying capital across various sectors in the U.S., including LS Power agreeing to acquire 4.4 gigawatts of predominantly natural gas-fired generation capacity from Constellation Energy for $5 billion. In healthcare, the merger between B-Flexion Life Sciences-backed Paratek and Radius Health was supported by a $1.3 billion financing arranged by Sixth Street. Elsewhere, Sterling completed the purchase of managed IT services firm Cyber Advisors, while Blackstone-backed Chartis snapped up health tech firm Leap AI for strategic expansion.
Fundraising Milestones and GP Strategy
Large continuation fund transactions continue to mark the private equity calendar, demonstrated by QHP Capital finalizing an $1.1 billion continuation fund for Azurity Pharmaceuticals, led by Harbour Vest Partners with Pantheon Ventures participating. On the GP side, HighVista Strategies appointed Raudel Yanez to launch its GP-led secondaries investing strategy specifically targeting the lower middle market. Institutional backing for emerging markets remains steady, as the EBRD committed $40 million toward the Templeton Türkiye private equity fund, which is targeting $300 million in total capital.
Sector-Specific Investments & Portfolio Management
Private equity money is flowing into specialized services and climate-focused ventures; Fort Point invested capital to recapitalize environmental services firm Boston Green. In the climate space, BNP Paribas Asset Management Alts backed Farm Carbon to scale methane reduction initiatives within agriculture. Meanwhile, the operational focus for portfolio companies is shifting toward measurable outcomes, especially in AI; authors argue that measuring business outputs is necessary to validate the success of AI adoption, moving beyond pilot programs. A separate development sees Verdane and Bpifrance backing Medadom, a telehealth provider accredited by the French Ministry of Health.
Talent, Succession, and Emerging Growth
Succession planning and talent retention are key considerations for managers, with CPAs advising GPs on strategies like gifting carried interest early to accrue future appreciation outside an estate for tax benefits. In the startup ecosystem, the UK faces potential talent drain, as a survey suggests one in five UK founders plans to leave the country within the next year, contrasting with growth elsewhere, such as UK & Ireland startups pursuing "revenuemaxxing" strategies as reported by Sifted. Separately, the firm Pophouse, which recently acquired Tina Turner's music interests (alongside , is part of a trend where portfolio hold periods appear longer than ever as noted by PE Hub, alongside Audax and Keystone reportedly seeking exits for HVAC assets.