Last updated: March 21, 2026, 11:30 AM ET
Fundraising & Strategy Shifts
Private equity fundraising remains active, though deal sizes are adjusting, evidenced by Blackstone raising over $12 billion for its latest Asia-Pacific buyout vehicle. Growth equity firm Coefficient Capital secured $500 million across new funds to scale its consumer strategy, contrasting with a slowdown in the largest U.S. venture rounds which are now favoring cybersecurity and privacy plays over broader tech. Further signaling strategic focus shifts, Philippe Laffont’s Coatue Management is launching a dedicated AI crossover fund, following a year where AI startups captured a record 41% of the $128 billion in venture capital tracked by Carta last year.
Exits & Portfolio Activity
In the exit market, KKR plans to divest its liquid cooling data center technology, Cool IT, in a transaction valued at $4.75 billion, with the acquisition anticipated to finalize in the third quarter of 2026. Meanwhile, activity in the secondary markets is heating up, with Abu Dhabi Investment Council offering a portfolio of fund stakes valued in excess of $2 billion; private markets constitute approximately 61% of the council’s total investment holdings. Separately, TPG is moving to rebuild its dedicated Japan presence by adding its first secondaries professional for TPG New Quest to manage multi-asset expansion within the region.
Sector Consolidation & HCM Moves
The drive for vertical specialization continues through bolt-on acquisitions, as LLR Partners-backed Viventium purchased Perks4Care, a platform focused on rewarding caregivers. Viventium, a human capital management provider targeting the post-acute care sector headquartered in Berkeley Heights, New Jersey, utilized the transaction to integrate rewards functionality into its existing HCM suite for healthcare providers.