Private Equity 24 Hours

Last updated: March 24, 2026, 5:30 PM ET

Dealmaking & Portfolio Activity

Private equity firms continued an aggressive pace of acquisitions and portfolio management across sectors, with Advent expanding its beauty portfolio by agreeing to acquire a majority stake in premium brand Salt & Stone for $165 million, simultaneously executing a partial exit from online review platform Trustpilot, selling a £46 million stake that triggered a sharp share decline for the latter. Elsewhere, Apollo committing $3.7 billion to acquire Nippon Sheet Glass marks its largest-ever private equity investment in Japan, while Blackstone is evaluating a potential $200 million to $300 million investment in the Indian Premier League, signaling a first foray into major global sports assets. In contrast, Blackstone is looking to realize value from a recent Paris acquisition by marketing a €100 million portfolio of Parisian apartments out of the larger €700 million deal.

Sector-Specific Investments & Exits

Activity in specialized and technology sectors saw several key moves, including GPI-backed Hopper OS acquiring healthcare data firm Efferent to bolster its configurable intelligent healthcare operating system capabilities. In the growing field of connected technology, TPG & Allianz X leading a $350 million capital raise for Cambridge Mobile Telematics, with participation from State Farm, suggests continued investor appetite for usage-based insurance platforms. Meanwhile, GTCR-backed Ascent Sports Group acquiring sports tech firm Live Barn expands its media and technology platform, and on the exit side, Generate Capital divesting greenhouse operator Equinox Growers to Taylor Farms demonstrates asset rotation in sustainable food supply chain infrastructure.

Mid-Market & Niche Transactions

The middle market remains active with strategic bolt-ons and platform investments, as Main Post investing in pretzel brand Stellar Snacks targets a company with wide distribution across major U.S. grocers like Costco and Target. In environmental services, Goldner Hawn purchasing Lone Star Environmental Companies enhances its footprint in the greater Houston and San Antonio markets, while Hull Street acquiring two power plants—a natural gas facility in Illinois and a dual-fuel plant in Ohio—signals infrastructure plays in essential services. Furthermore, Princeton Equity Group backing children’s education provider Kid Strong supports a franchisor now boasting 184 centers across the U.S. and Canada.

Fundraising & Capital Markets

While fundraising continues, managers are increasingly targeting specialized mandates, as evidenced by Kleiner Perkins raising $3.5 billion across new AI-focused funds, comprising $1 billion for early-stage KP22 and $2.5 billion for growth investments. In contrast, capital formation efforts aimed at diverse founders are progressing, with BRK Capital reaching $20 million Canadian toward its $50 million target for Fund II, supporting Black founders. On the capital markets front, CVC & Silver Lake are testing the waters for a potential $6.7 billion initial public offering of RAC, initiating investor outreach for the large listing.

Secondaries & Strategy Shifts

Firms are adjusting strategies to navigate current market dynamics, with New Mountain Atlas seeking to lead and co-lead GP-led buyout deals, supported by deep sector expertise rather than relying solely on secondaries hires. However, the secondary market faces headwinds, as AI concerns are reportedly disrupting secondaries processes, coinciding with Bain & Co data showing that the number of Asia-Pacific portfolio companies held for over five years increased 18% in 2025 indicating an overhang. In related partnership news, Southfield investing in recruitment firm Metric Search, which services medtech and data center sectors, suggests strategic positioning ahead of potential talent bottlenecks in high-growth areas.

Government & Fintech Focus

Investments targeting government technology and specialized software providers show continued interest in areas offering stable, recurring revenue streams. TSCP investing in govtech firm Karpel targets the municipal service sector, including prosecutor and public defender offices nationwide. Simultaneously, Main Capital is backing enterprise resource management software provider Gingco Systems, which develops modular services for intelligent workplace management. Financial technology firms in Europe are showing growth, with Revolut reporting record profits ahead of expansion, while London-based Air Street Capital secured $232 million for its Fund III, specifically targeting early-stage European and North American AI companies.