Private Equity 24 Hours

Last updated: March 24, 2026, 1:30 PM ET

Fundraising & Strategy Shifts

Venture capital fundraising remains active despite broader market cooling, demonstrated by Kleiner Perkins raising $3.5 billion across new vehicles, which includes $1 billion dedicated to KP22 for early-stage artificial intelligence ventures and $2.5 billion for growth-stage mandates. In comparison, European early-stage activity saw Air Street Capital secure $232 million for Fund III, focusing heavily on backing nascent AI companies across Europe and North America, while London's fintech sector continues to mature, evidenced by Revolut posting record profits ahead of expansion plans. Conversely, concerns persist regarding the effectiveness of AI deployment within established firms, as half of general partners report their AI initiatives falling short of expectations, even as AI concerns begin to disrupt traditional secondary market processes.

Mega-Deals & Sector Investments

Large-scale private equity transactions signal continued appetite for strategic sector plays, highlighted by Apollo committing $3.7 billion to acquire Nippon Sheet Glass, marking the largest Japan private equity investment managed by the firm to date. In consumer goods, Advent expanding its beauty portfolio agreed to acquire a majority stake in premium body care brand Salt & Stone for $165 million, simultaneously executing a partial exit from UK review platform Trustpilot, which triggered a sharp share decline following the sale of its £46 million stake. Meanwhile, competition remains fierce in Europe, with Apollo and Bain Capital leading a €4 billion bidding race for Continental’s Conti Tech industrial unit, showcasing strong interest in industrial carve-outs.

Middle Market & Sector Specialization

Middle-market firms are actively deploying capital across specialized niches, exemplified by Main Post investing in Stellar Snacks, a pretzel brand with extensive national distribution across major retailers like Costco and Kroger. Elsewhere, sector focus is driving deal flow, as New Mountain Atlas seeks to lead buyout transactions by leveraging dedicated sector teams, a strategy that co-head Neal Costello claims keeps them ahead of processes. Specific vertical investments include Princeton Equity Group backing children’s education provider Kid Strong, which currently supports over 85,000 members across 184 centers, and Southfield investing in recruitment firm Metric Search, which serves the medtech life sciences and data center industries.

Asset Disposals & Secondary Market Activity

Firms are balancing new acquisitions with strategic exits, although the Asia-Pacific region faces overhang issues, as Bain & Co reported that the number of APAC portfolio companies held for over five years increased by 18% in 2025. In Europe, Blackstone is targeting a €100 million disposal of Parisian apartments as part of value creation efforts following a larger €700 million acquisition in the city, while in North America, GI Partners is advancing sale talks for American Residential Services, potentially valuing the HVAC and plumbing provider at $3.5 billion. Furthermore, the secondaries market is seeing major institutional liquidity events, with the University of California system shopping a $3 billion LP portfolio to secure near-term capital.

Infrastructure, Tech, & Environmental Deals

Activity across infrastructure and government technology sectors remains steady, demonstrated by Hull Street agreeing to acquire two power plants—a natural gas turbine facility in Illinois and a dual-fuel plant in Ohio—from Rockland. In the municipal services space, Turnspire Capital Partners is preparing to collect first-round bids in mid-April for its water utility service provider, USG Water Solutions, as mid-market firms evaluate the asset. On the technology front, GTCR-backed Ascent Sports Group acquired sports tech firm Live Barn, a media platform established in early 2026, while TSCP invested in govtech firm Karpel, which services public defender and prosecutor offices nationwide.

Wealth Management & Portfolio Transactions

Consolidation continues within wealth management, where WPCG and HGGC are investing in RIA Verdence, an arrangement that involves Emigrant Partners, LLC selling its existing stake in the advisory firm. In the environmental space, Goldner Hawn acquired Lone Star Environmental Companies, which operates across the greater Houston and San Antonio markets, indicating sustained PE interest in regional service providers. Separately, in European software services, Main Capital invested in Gingco Systems, a developer specializing in modular software for intelligent workplace management. Finally, Generate Capital offloaded its stake in greenhouse operator Equinox Growers to Taylor Farms, supporting regional food supply chains through the divestiture.