Private Equity 24-Hour Briefing
×Last updated: March 18, 2026, 6:30 PM ET
Dealmaking & Portfolio Activity
Private equity firms continued a trend of aggressive add-on acquisitions across sectors, with Truelink-backed SouthernCarlson snapping up specialty distributor Greenwald Supply Direct, which supplies fasteners and construction materials. Similarly, in the commercial foodservice sector, PE-backed Tech24 acquired Pacific Standard Service to bolster its repair and maintenance capabilities, while Stephens Group-backed Astro Pak purchased Clean Sciences, a provider of high-purity cleaning services. Elsewhere, franchise development organization Franchise FastLane, backed by Southfield, acquired consulting firm Franchise Creator, demonstrating continued consolidation in the fragmented franchise space.
In technology and climate investments, Bain Capital invested in climate tech firm Duravent Group, which already counts Egeria as an existing backer, signaling continued appetite for ESG-aligned assets. Growth equity activity saw Idealist lead a C$50 million investment into sustainable agriculture company Solugen, with participation from the Canada Growth Fund. Meanwhile, Warburg Pincus is preparing to close its investment in fintech company The Guarantors by the end of the second quarter of 2026, illustrating sustained interest in financial technology infrastructure .
Exit Strategy & Continuation Funds
Firms are actively exploring major liquidity events, with KKR, Silver Lake, and General Atlantic preparing to pursue partial exits as Reliance Jio moves forward with its anticipated $4 billion initial public offering. In a parallel move toward monetization, TDR Capital and I Squared Capital are exploring options for a potential $15 billion Aggreko IPO alongside a stake sale. The use of continuation vehicles remains a favored tool for extending asset life, as evidenced by HarbourVest leading a massive $1.1 billion vehicle for Azurity Pharmaceuticals to support QHP Capital’s extension strategy, and MCH closing a separate vehicle for Europastry, which Ares later supported with a distinct €300 million continuation fund after an earlier IPO attempt was halted .
The secondary market is showing signs of activity, with Ronin Equity taking a minority stake via a GP-led transaction in Aeri Tek Global, a deal that also saw London-based Partners Capital join as a new investor in the associated continuation vehicle. This activity comes as some buyers prioritize the benefits of credit seconds transactions, such as acquiring assets at a discount and immediately navigating past the J-curve effect.
Credit & Financing Activity
The private credit market continues to attract major institutional partnerships, highlighted by Apollo Global Management joining forces with the NYSE owner Intercontinental Exchange to build new data infrastructure aimed at this sector. Further expanding its credit footprint, Apollo also made its first hire for its new $1 billion Singapore private credit fund, recruiting a former executive from Warburg Pincus. In large-scale corporate financing, Blackstone Credit & Insurance arranged a substantial $1.3 billion financing package to support the combination of Paratek and Radius Pharmaceuticals.
Defense Tech & European Capital Flows
Geopolitical tensions are sharply focusing investor attention on defense technology startups, mirroring the success of AI drone company Swarmer, whose shares soared 520% on its Nasdaq debut, potentially unlocking a pipeline of similar IPO candidates. This sector focus is evident in Europe, where ETNA is set to acquire Brolis Defence Group, a developer of electro-optical systems used by NATO forces, following ETNA winning a Mid-Cap Europe Deal of the Year award . The broader European venture scene is also seeing state-backed funds deploy capital, as EQT and the World Bank backed 'flying ferry' startup Candela with a €30 million raise to fuel its global expansion .
Personnel Moves & Institutional Shifts
Senior movement across the private capital ecosystem remains active, with Former CVC Managing Director Jonathan Au joining Revelation Partners after departing CVC last year. In the US, Kain Capital appointed Sameer Mathur as a partner and Bridie Gahan as strategy VP, pulling talent from Chicago Pacific Founders and Astrana Health, respectively. Personnel changes also affected Australian sovereign wealth funds, where two joint managing directors for private equity and real assets resigned from the Future Fund, adding to a string of senior departures . Furthermore, UK’s Border to Coast pension pool finalized its alternatives leadership team by hiring a lead portfolio manager for private equity, credit, and climate as its asset portfolio is set to expand toward £110 billion.