Private Equity 24-Hour Briefing
×Last updated: March 17, 2026, 11:30 PM ET
Dealmaking Activity & Exits
Private equity firms are reporting mixed success in clearing the exit pipeline, with even assets acquired during less frothy market periods now proving difficult to sell, raising questions about valuation expectations. In Europe, sponsors Advent and Cinven explore a potential €25 billion exit of elevator giant TK Elevator, a process complicated by takeover talks involving Kone. Meanwhile, exits are occurring across various sectors, as Seaport exits tech company Exacom to Motorola Solutions, and Warburg Pincus contemplates $3 billion options for subprime auto lender Exeter Finance. On the deal origination front, Kinderhook Industries claimed the Mid-Cap North America Deal of the Year award, while HIG Capital reportedly tests the market for industrial services provider JT Thorpe, whose business is heavily tied to industrial system outages.
Platform Building & Sector Consolidation
The trend of using portfolio companies for bolt-on acquisitions to drive scale continues across specialized industries. LFM scoops up manufacturer PowerBuilt to integrate into its American Automation Group platform, joining existing holdings like Southern Tooling, Inc. In infrastructure and environmental services, Fort Point-backed VisuSewer acquires United Survey, a firm specializing in wastewater inspection and cleaning services in Wisconsin. Further consolidation is visible in service sectors, where Knox Lane-backed Ruppert Landscape picks up Landscapes Unlimited to expand its footprint in commercial landscaping, and Hildred-backed SportsMed acquires The Physical Therapy and Rehabilitation Center across New Jersey and Connecticut. In the cold chain logistics space, Sagard-backed Norbec picks up Canadian Curtis, a designer of prefabricated freezer rooms, while New Heritage-backed Icelandirect acquires Soma Labs to expand its supplement manufacturing capabilities.
New Ventures & Strategic Investments
Firms continue to launch new platforms targeting specific demographic or industrial needs. TPG forms One Aged Care to capitalize on demand for elderly healthcare services across Singapore and Malaysia, concurrently with the launch of the industrial software firm Velotic, which has named Brian Shepherd as CEO and former PTC CEO James Heppelmann as executive chairman. In energy infrastructure, EIG-backed MidOcean secures a $500 million investment from Japan's Idemitsu Kosan specifically to fuel the expansion of its liquefied natural gas platform. Elsewhere, NewMile and Haywood Lane back Wilkerson Crane Rental to finance fleet expansion and strategic acquisitions, and Oakley Capital backs France-based Groupe Senef, resulting in a full exit for Isatis Capital.
Investor Relations & Governance Challenges
Limited Partners are facing scrutiny and making adjustments to their private market allocations amid governance concerns. Australia’s Future Fund loses private markets investment leads following resignations from senior executives David Bluff and Tammi Fisher in private equity and real assets. Furthermore, the Nevada PERS plans to exit Clearlake exposure due to perceived conflicts of interest stemming from Clearlake’s agreement to acquire Pathway Capital Management. Maine’s pension fund is also outlining a plan for cutting its private equity target, marking its second reduction in four years and suggesting potential secondary sales in specific circumstances. Geopolitical shifts are also redirecting capital flows, with Hong Kong’s Gaw capital eyeing Gulf retrenching opportunities, suggesting Middle East capital previously slated for the US or Europe may move toward regional investments.
Technology, AI, and Fintech Focus
The technology sector remains a key focus for investment, although concerns persist regarding equitable access to capital. AI investor Rana el Kaliouby warned that if women are excluded from AI funding and leadership roles, the resulting wealth gap consequences will be severe, particularly as the fastest-growing AI innovators are often not established large enterprises. In the fintech space, European firms are grappling with heightened concerns over sovereignty issues, while promising startups continue to secure funding; for instance, Upvest wins backing from Tencent and Sapphire Ventures in a $125 million raise. Additionally, Candex extends its Series C funding to over $40 million to help enterprises streamline the administrative burden of onboarding global vendors, and Main-backed Cisbox and Millum merge to create an expanded source-to-pay software provider across the DACH and Nordic regions.