Last updated: March 21, 2026, 3:30 AM ET
Fundraising & Capital Deployment
Blackstone has successfully secured over $12 billion for its newest Asia-Pacific buyout vehicle, demonstrating continued appetite for large-scale capital deployment despite broader market slowdowns, while Coefficient Capital closed more than $500 million across two funds to fuel its consumer growth equity strategy. On the secondaries front, Abu Dhabi Investment Council is actively marketing a portfolio of over $2 billion in fund stakes, reflecting private markets’ continued prominence, which now comprise approximately 61% of its total investment portfolio ADIC shops $2bn-plus portfolio. This activity contrasts with a general trend where the size of the largest U.S. deals shrank this week, though cybersecurity and AI sectors remain favored destinations for substantial financing rounds The Week’s 10 Biggest Funding Rounds.
Strategic Exits & New Fund Focus
KKR is preparing for a major exit in the technology infrastructure space, agreeing to divest its data center liquid cooling company, Cool IT, for an expected $4.75 billion, with the transaction slated to finalize in the third quarter of 2026 KKR to sell data center liquid cooling company. In another significant exit, Star Capital-backed Vincorion saw a strong debut on its €980 million initial public offering, signaling positive investor reception for recent private equity-backed listings in Europe Star Capital-backed Vincorion jumps on €980m IPO debut. Meanwhile, established firms are sharply recalibrating mandates, exemplified by Coatue Management, the $70 billion firm led by Philippe Laffont, which is pivoting to launch a dedicated crossover fund focused exclusively on artificial intelligence and technology investments Coatue pivots to launch AI crossover fund.
Geographic Expansion & Secondary Market Hires
TPG is executing a multi-asset expansion within Japan, including making its first dedicated secondaries hire in the country through its TPG New Quest division, as it seeks to re-establish a more durable presence in the region TPG seeks to re-establish Japan PE presence. Echoing this focus on Asia, Partners Group has announced plans to raise a debut India-focused buyout fund targeting at least $1 billion to capitalize on local growth opportunities Partners Group builds India presence. Concurrently, European players are also active; Mutares is preparing for a substantial acceleration in deal flow during the second quarter of 2026, projecting an acquisitions pipeline valued at €2.5 billion Mutares accelerates deal activity.
Sector-Specific Acquisitions & Activity
The healthcare sector remains a magnet for dealmaking, with multiple firms pursuing opportunities in benefits management and specialized services; firms including InTandem, NMS Capital, and WestView Capital are targeting healthcare benefits management, while Palladium Equity Partners has agreed to purchase DME Express, a hospice medical equipment provider from Way Point Capital Partners Palladium Equity to acquire hospice medical equipment provider. Industrial and B2B services also saw movement, as 3M and Bain Capital joined forces to acquire Madison Fire & Rescue for $1.95 billion, intending to merge it with 3M’s Scott Safety division to form a new integrated fire and safety platform 3M and Bain to acquire Madison Fire & Rescue. Furthermore, portfolio company activity continues, with LLR Partners-backed Viventium acquiring Perks4Care, a caregiver rewards platform, to enhance its human capital management offering for the post-acute care market LLR Partners-backed Viventium snaps up caregiver rewards platform.
Credit Markets & Infrastructure Support
In private credit, Blackstone’s $83 billion BCRED vehicle is proceeding with a new collateralised loan obligation issuance, indicating continued strength in private credit vehicles designed to provide flexible financing solutions Blackstone’s $83bn BCRED moves ahead. This debt financing activity is paralleled in the leveraged buyout space, where CVC Credit provided the senior debt to support Waterland Private Equity’s successful acquisition of Palletways CVC Credit backs Waterland acquisition. Separately, the intense demand for AI computing power is driving investment into enabling technologies, as evidenced by the fact that power infrastructure has become a major bottleneck for new AI data centers, creating an opening for specialized energy tech investors The best AI investment might be in energy tech.
Tech Acquisitions & Regulatory Environment
While venture funding rounds are becoming more competitive, with many startups struggling to secure financing Funding rounds are getting crowded, large acquirers continue to consolidate technology assets, particularly in robotics and specialized software. Amazon recently acquired Rivr, a robotics spinout originating from ETH Zurich, signaling ongoing interest in advanced automation technologies Amazon buys ETH robotics spinout Rivr. In platform building, IK Partners has taken a majority stake in the Dutch financial services intermediary Domek Group, which operates primarily in the Netherlands but is expanding into Belgium and Germany IK Partners acquires majority stake in Domek Group. Separately, the dominance of AI in venture dollars raised last year—accounting for 41% of the $128 billion raised on Carta—shows where capital priorities lie, even as traditional trust and reputation remain essential factors for early-stage fundraising success AI startups are eating the venture industry.