Private Equity 24 Hours

Last updated: September 15, 2026, 10:02 PM ET

Healthcare Data Deal Draws Dual Sponsors

Neuberger Berman and KKR have agreed to acquire a significant minority stake in Datavant, the health data ecosystem company backed by New Mountain Capital, in a transaction that underscores continued sponsor appetite for healthcare information assets. The deal allows New Mountain to recycle a decade-long healthcare bet while bringing in fresh capital and two new partners to the cap table. Datavant operates what it describes as the nation's largest health data ecosystem, connecting patient records across thousands of providers and payers. The transaction illustrates the broader trend of private equity firms doubling down on artificial intelligence and data infrastructure, with Carlyle simultaneously joining the MIT Generative AI Impact Consortium as sponsors seek early visibility into emerging AI applications.

Software and Cybersecurity Deals

Vista Equity Partners is weighing options for Finastra, the financial software provider, with a sale among the possible outcomes that could value the company at up to $12bn. The review marks one of the largest potential software exits of the year and would represent a significant liquidity event for Vista, which has held the asset since acquiring it in 2017. In cybersecurity, Exein raised $270m to combat AI-driven hacking threats, doubling its valuation in a round that reflects growing investor concern over the security vulnerabilities introduced by rapid AI adoption. The funding comes as corporate boards increasingly prioritize cyber-readiness, with AI redefining how enterprises assess and mitigate digital risk.

Fundraising and Capital Formation

Goldman Sachs Alternatives has held the final close of West Street Capital Partners IX at $11.7bn, underscoring the continued ability of mega-fund managers to raise substantial capital despite a challenging fundraising environment. The close provides fresh dry powder for the bank's alternatives platform at a time when limited partners are increasingly selective about which managers they back. Warburg Pincus appointed Philip Nolan as head of US wealth, a newly created role at the firm founded in 1966 with more than $105bn in assets under management, signaling the industry's push to tap private wealth channels as institutional allocations mature. In Canada, CPP Investments and Brookfield launched the Maple Fund, a C$50bn partnership designed to channel domestic pension capital into Canadian infrastructure projects, a structure that could serve as a template for other jurisdictions seeking to keep retirement savings invested at home.

Middle Market Acquisitions

Graham Partners acquired Immix, a remote video monitoring platform headquartered in Charlotte, North Carolina with an additional office in Sydney, extending the firm's presence in security technology. Aphias Capital backed SNZweig, a company formed through the combination of York, Pennsylvania-based Stambaugh Ness and Zweig, creating a larger platform in the accounting and advisory services sector. TPG's Rise Funds invested in Tablet Command, a Walnut Creek, California-based provider of incident management software for emergency responders, as the impact investing arm of TPG continues to deploy capital into mission-driven technology companies.

Industrial and Energy Transactions

KPS Capital Partners agreed to sell Metra to Grupa Kęty for €645m, offloading the extruded aluminum profiles manufacturer headquartered in Rodengo Saiano, Italy. The sale represents a successful exit for KPS, which had owned the business through a period of operational improvement and margin expansion. The transaction was part of a broader week of dealmaking that saw general partners express optimism about the outlook for transactions even as targets attract multiple suitors. Carlyle is backing Avenrock's acquisition of Parallax Energy Operating, a Calgary-based company, marking the firm's second Canadian oil bet in a year. Post Oak-backed Ichthys Energy Partners completed the sale of Permian Basin assets, as the Dallas-based upstream company monetizes inventory in the prolific shale play. Copilot bet on rapid renewable deployment in the US with an investment in Green Eagle Solutions, which builds automation software for renewable energy operations.

European Mid-Market Activity

Eurazeo completed a majority buyout of Netco Group from Ardian, acquiring control of the company that provides critical maintenance services for conveyor systems used in logistics and distribution. The deal reflects continued interest in industrial services businesses with recurring revenue characteristics. Inflexion-backed Ranger Fire and Security acquired Fire Protection Ireland, a Cavan-based provider of fire alarm and protection services founded in 2011, as the UK sponsor continues to consolidate the fragmented fire safety market. Ambienta's Spaggiari acquired ESDS to expand into Iberia and Latin America, with the target founded in 2007 providing digital management-information-system software. Verlinvest invested in HomeExchange, the home-swap platform that lists more than 600,000 homes across 155 countries and has 2.3m travelers in its network.

Financial Services and Fintech

CVC has teamed up with JC Flowers in the race for First Rand's UK bank Aldermore, as the South African parent pursues an exit from the British market. The partnership pairs CVC's scale with JC Flowers' financial services specialization, a combination that has proven effective in bank acquisitions. Revolut CEO Nik Storonsky denied €350m in superyacht debt in a London court case, hitting back at claims related to the financing of a luxury vessel. The fintech faces separate questions over a customer data breach that has been described as deeply concerning, adding regulatory and reputational pressure to the company as it pursues global expansion.

Venture and Growth Investment

Evvy secured $40M in a Series B led by Catalio to further women's health research using vaginal microbiome data, as investors increasingly recognize the market opportunity in underserved areas of healthcare. Euclyd raised €200m in a Series A backed by Samsung and the EU Scaleup Fund, with the efficient AI startup attracting corporate and public capital. Zero secured $10.3m in seed funding for AI CRM tools, with founders from Lovable, Supercell, and Langdock participating in the round. The broader venture landscape shows AI startups reaching massive valuations and liquidity events so quickly that wealth creation is outpacing the ability of financial planning systems to adapt. Startups across sales, marketing and customer management have raised $7.5bn, with AI taking a growing share of funding in the sector.

Secondaries and Co-Investment Trends

Yangge Seaman launched Gordian Investment Group, a secondaries shop focused on overlooked deals, after years of buying and selling secondaries as an allocator at Children's Health. The move reflects the maturation of the secondaries market and the emergence of specialized buyers targeting less competitive segments. Competition for co-investments is impinging on economics, with carry fees on co-investment deals rising as demand surges from limited partners seeking to deploy capital alongside sponsors. The dynamic is shifting negotiating leverage toward general partners in a market where co-investment has become a standard part of the LP toolkit.

Sports and Consumer

L Catterton is chasing a €600m stake in Hyrox, the workout-race sensation that has captured consumer attention across Europe and beyond. The potential investment would value the fitness racing company at a level that reflects the premium investors are willing to pay for experiential consumer brands with loyal communities. Red Bird Capital Partners expanded in APAC, receiving a licence to deal securities in Hong Kong just months after establishing a presence in the region, as the sports specialist positions itself for dealmaking in Asian markets.

Healthcare Services and Environmental

Abry-backed Centauri Health Solutions acquired Benny the Benefits Navigator, an Iowa-based technology company whose AI-powered platform streamlines benefits navigation for consumers. The acquisition adds technology capabilities to Centauri's existing healthcare services platform. Red Cloud Capital invested in APS Environmental Group, the company founded in 2019 by John DeGeorge that provides environmental testing and services, as sponsors continue to find opportunities in environmental compliance and remediation.

People and Promotions

Round Table Healthcare Partners appointed Ed Jones as operating partner, adding operational expertise to the healthcare-focused firm based in the Chicago area. Yukon Partners promoted Nathan Weekly to director, elevating the Minneapolis-based junior capital provider's team as it continues to focus on middle-market opportunities. Periscope Equity promoted Eric Hinkle to partner, rewarding the executive who joined the firm in 2017 as a vice president and has since played a key role in its investment activities.

Regulation and Policy

A member of Parliament called for scrutiny of the AI Security Institute as fears grow over the adequacy of oversight for artificial intelligence development. The intervention reflects broader concerns about whether regulatory bodies have the resources and mandate to address rapid AI advancement. Experts warned that AI agents are moving faster than Europe can regulate, with autonomous systems outpacing the legislative and supervisory frameworks designed to govern them. The debate over whether Europe has a voice in AI safety continues, with questions about the continent's ability to shape global standards while competing for investment in AI technologies.

Exit Strategy and Market Outlook

The Exit Playbook examined the buyer's point of view, noting that at the heart of every successful sale is a seller that truly understands what the buyer values and how they assess risk. The analysis underscores the importance of preparation and positioning in achieving optimal outcomes. Sifted identified the top 10 investors across the DACH and CEE regions, highlighting the most active backers in German-speaking Europe and Central and Eastern European startup ecosystems. Tech Crunch Disrupt 2026 reminded startups that four days remain to exhibit at the conference, with the last day to secure a spot being September 18, as founders seek visibility with investors and potential partners.