Private Equity 24-Hour Briefing
×Last updated: March 18, 2026, 4:30 AM ET
Dealmaking & Exits: Sector Activity
Private equity deal flow remains active across sectors, highlighted by several strategic acquisitions and platform builds. TPG launched One Aged Care to capitalize on surging demand for elderly healthcare services across Singapore and Malaysia, while its portfolio company, industrial software firm Velotic, named Brian Shepherd as CEO. In the infrastructure space, Fort Point-backed VisuSewer acquired United Survey, bolstering its essential wastewater services platform in the Midwest, and LFM scooped up manufacturer PowerBuilt to expand its American Automation Group. Elsewhere, New Heritage-backed Icelandirect purchased Soma Labs, adding supplement manufacturing capabilities to its contract business, and Hildred-backed SportsMed acquired a physical therapy center to deepen its footprint in New Jersey and Connecticut.
Mega-Deals & Portfolio Exits
Major firms are testing the market for large-scale divestitures, though exit challenges persist for older assets. Advent and Cinven are exploring a €25 billion exit of TK Elevator, entering takeover talks with Kone, marking one of Europe's largest potential sales this year. Simultaneously, Warburg Pincus is testing options for Exeter Finance, the subprime auto lender, potentially seeking a $3 billion valuation for the asset. On the smaller end, Seaport successfully exited tech company Exacom to Motorola Solutions, while Accel-KKR secured an award for its Smart Communications exit in Europe. However, the broader difficulty in liquidating assets is apparent, as even investments acquired before the market froth are proving difficult to sell.
Platform Building & Add-on Acquisitions
The current environment favors platform expansion through bolt-on deals, particularly in fragmented service industries. Knox Lane-backed Ruppert Landscape expanded its commercial services by acquiring Landscapes Unlimited, while Sagard-backed Norbec purchased Canadian Curtis, a designer of prefabricated freezer rooms, enhancing its cold chain manufacturing capabilities. In the US industrial services sector, HIG Capital is testing the market for industrial services provider JT Thorpe, leveraging its scaled platform appeal to large-cap buyers. Furthermore, Audax acquired property management firm Akam from Nautic Partners, indicating continued appetite for specialized real estate services.
Investor Sentiment & Fund Management Shifts
Institutional investors are adjusting their mandates amid regulatory scrutiny and internal governance concerns. Nevada PERS plans to exit its exposure to Clearlake, citing potential conflicts of interest arising from Clearlake’s planned acquisition of Pathway Capital Management, demonstrating heightened LP caution regarding manager relationships. This caution extends to sovereign wealth funds, where Australia’s Future Fund saw joint managing directors for private equity depart, adding to a string of senior leadership departures within the fund. Meanwhile, Maine is planning its second reduction to its private equity target in four years, suggesting some LPs are actively streamlining GP relationships or preparing for secondaries sales to meet capital allocation limits.
Geopolitical Risk & Sector Focus
Geopolitical tensions are reshaping investment priorities, particularly in defense and energy infrastructure. The conflict in the Middle East has placed European air defence startups under intense scrutiny, as experts note the "impossible to ignore" gap in continental defense capabilities. On the energy front, EIG-backed MidOcean Energy secured a $500 million investment from Idemitsu Kosan to expand its liquefied natural gas platform, signaling continued capital flow into energy transition assets despite broader market volatility. Separately, Gulf capital is reportedly redirecting funds towards domestic opportunities as Middle East PE heads observe a retrenchment by regional investors previously focused on U.S. and European deals.
Venture Capital & Fintech Under Scrutiny
While traditional PE deals navigate exit challenges, the venture ecosystem faces scrutiny over funding dynamics and hype cycles. Alma CEO Louis Chatriot spoke candidly about "hard choices" and discarding startup hype "bullshit", reflecting a broader market correction away from inflated valuations. In the UK, wellbeing marketplace Healf topped Sifted’s latest UK and Ireland leaderboard, suggesting resilience in specific vertical software plays. European fintech firms are grappling with a worsening sovereignty problem, making operational independence more challenging, while German fintech Upvest raised $125 million with backing from Tencent and Sapphire Ventures. Furthermore, investor Rana el Kaliouby warned that the current AI funding environment risks creating a "boys’ club", potentially widening wealth gaps if female leaders and founders are excluded from the fastest-growing technology segments.