Private Equity 3 Days

Last updated: May 20, 2026, 2:31 PM ET

Energy & Natural Resources

Private equity firms continue to pivot toward energy investments amid geopolitical uncertainty, with EIG-backed MidOcean securing $120 million from The Arab Energy Fund to expand its liquefied natural gas operations. Meanwhile, Post Oak has divested its UpCurve Energy assets, which include oil and gas properties in the Southern Delaware Basin of West Texas, though financial terms were undisclosed. In a significant renewable energy transaction, Hull Street is acquiring First Light USA from PSP Investments, gaining a portfolio of nearly 1,400 MW of clean generation capacity in the Northeast. The energy sector focus extends to institutional investors as well, with family offices rotating into oil, gas, and renewable energy assets in the first quarter amid the Iran conflict, according to reports based on 13F filings. In a major infrastructure deal, Kimmeridge, CPP Investments, and Mubadala have anchored the $13 billion Commonwealth LNG project in Louisiana, which has reached a final investment decision alongside $9.75 billion in project financing.

Healthcare & Life Sciences

The healthcare sector saw significant consolidation activity as Nautic-backed Integrated Home Care Services acquired Dina Care, expanding its in-home benefit management platform. European healthcare private equity strengthened with the merger of GHO Capital and CBC Group creating a $21 billion+ healthcare investment giant, with co-founders Mike Mortimer and Fu Wei set to serve as co-CEOs. The deal pipeline remains robust as EQT and IDG Capital advanced to the next round of bidding for Swiss healthcare company Poly Peptide, indicating continued strong demand in the sector. In specialty healthcare services, QHP-backed Lexitas Pharma Services acquired Erie Retina Research, enhancing its ophthalmology clinical research capabilities. European private equity is also expanding its healthcare presence through strategic investments like Verdane's backing of healthcare tech company Eterno, though financial terms were not disclosed. The trend of healthcare consolidation continued with Triton preparing to exit healthcare provider Aleris through a strategic sale, with the company operating more than 100 clinics across Sweden, Norway, and Denmark.

Consumer & Retail

Private equity firms are actively consolidating home service businesses, with Gryphon-backed Southern Home Services acquiring Blazer Heating, Air & Plumbing to expand its footprint in the Southeast, Midwest, and Mid-Atlantic markets. In the wellness sector, Yellow Wood-backed Scholl's Wellness Company acquired athletic performance brand Vktry, leveraging Dr. Scholl's established consumer brand presence. Commercial landscaping consolidation continued as Agellus-backed HighGrove acquired Lawn Enforcement Agency, expanding its Atlanta-based operations. The consumer sector also saw a significant exit as L Catterton sold Everlane to Chinese e-commerce group Shein at approximately $100 million, representing a sharp reset for a once-high-profile direct-to-consumer brand. Meanwhile, Boyne Capital partnered with Sisu Equity and Consumer Growth Partners to invest in consumer apparel brand Local Boys Outfitters, though specific investment amounts were not disclosed.

Financial Services & Technology

Private equity continues to expand its presence in financial technology and specialized lending, with Switzerland's Publica preparing to commit up to $1.1 billion to direct lending strategies. The secondaries market remains active as Cari Lodge's Aqualis set its sights on a debut secondaries fund targeting smaller transactions in what the firm sees as an underserved segment of the market. The payment technology sector saw consolidation with PE-backed NMI acquiring payment tech firm Dwolla, enhancing its embedded payment infrastructure capabilities. Venture capital is becoming increasingly concentrated, with U.S. venture capital totals in 2026 already on par with funding for all of 2025, and 80% of startup investment this year flowing