Last updated: March 20, 2026, 6:30 AM ET
European Dealmaking & Exits
European private equity activity saw movement across mid-market control deals and major portfolio exits, with IK Partners acquiring a majority stake in Domek Group, a financial services intermediary that has recently expanded its footprint from the Netherlands into Belgium and Germany. This transaction follows news that Permira’s exit from AltamarCAM reportedly delivered attractive returns for the firm, illustrating a bifurcation in asset performance. Elsewhere in Europe, CVC Credit provided senior debt financing to support Waterland Private Equity’s acquisition of Palletways, while fellow large-cap player CVC, alongside Nordic Capital, is now exploring exit options for their joint holding, Cary Group, a process potentially valuing the asset near €3 billion.
US Transactions & Sector Focus
The US middle market continued to transact across various sectors, highlighted by Sterling’s acquisition of managed IT services firm Cyber Advisors, which serves small, mid, and enterprise clients, and Fort Point’s investment to recapitalize environmental services firm Boston Green. In healthcare, Blackstone-backed Chartis scooped up health tech firm Leap AI, signaling sustained PE interest in technology solutions for advisory services, while two B-Flexion Life Sciences-backed entities, Paratek and Radius Health, merged following a $1.3 billion financing. Separately, in the energy space, LS Power agreed to acquire 4.4 gigawatts of natural gas generation capacity from Constellation Energy for $5 billion, marking a large-scale infrastructure play in the Mid-Atlantic.
Secondaries Market & Fund Activity
The secondaries market demonstrated continued sophistication, with Bindley Capital-backed Guardian Pharmacy Services pricing a ‘synthetic secondary’ offering, while HighVista Strategies appointed Raudel Yanez to lead its new GP-led secondaries investing strategy focused on the lower middle market. On the fund formation front, QHP Capital successfully closed an $1.1 billion continuation fund for Azurity Pharmaceuticals, with Harbour Vest Partners leading the transaction and Pantheon Ventures participating as a major investor. Furthermore, the European Bank for Reconstruction and Development committed $40 million to the Templeton Türkiye Fund, which is targeting a total raise of $300 million, demonstrating continued institutional backing for emerging market private equity.
Asset Management & Firm Strategy
Major global firms are adjusting their geographical footprints and operational strategies, as evidenced by TPG seeking to re-establish its Japan presence via a senior hire, which is part of a broader multi-asset expansion including a new secondaries executive based in Tokyo. In contrast, Van Lanschot Kempen has initiated a strategic review of its liquid funds unit, which currently manages assets totaling $11.5 billion, suggesting potential sales or restructuring. Within portfolio management, there is insight into how firms are handling estate planning, as advisors suggest gifting carried interest earlier can allow future appreciation to accrue outside of a General Partner’s estate for material tax advantages.
Technology, AI, and Sector Trends
Tech sector investment continues, though there are evolving narratives around execution and focus; for instance, Amazon acquired robotics spinout Rivr, while Bluesky secured $100 million in Series B funding to scale its team and develop its ATProto infrastructure. In the UK and Ireland tech scene, analysis points toward characteristics like faster execution times and smaller team sizes among leading startups, with some founders contemplating departures from the country, as one in five UK founders plan to leave within the next year. Furthermore, amidst the focus on artificial intelligence, some practitioners contend that merely discussing AI is insufficient, advocating instead for measuring specific business outputs to ensure measurable improvements.