Private Equity 24 Hours

Last updated: March 23, 2026, 2:30 PM ET

Dealmaking Activity & Exits

Major private equity players are circling significant European and Gulf energy assets, illustrating continued appetite for infrastructure despite potential exit headwinds. Advent & Cinven are reportedly exploring a €25 billion exit of TK Elevator, with Kone entering advanced talks to acquire the asset, while funds are targeting a substantial $7 billion Kuwait pipeline deal amid Gulf energy transactions. Elsewhere in large-scale transactions, Apollo & CVC agreed to acquire a 37% minority stake in packaging firm €1.75bn Syntegon to support its next growth phase. In the software and services space, Francisco Partners agreed to divest music publisher Kobalt to Brookfield-backed Primary Wave, with management remaining in place under CEO Laurent Hubert.

Sector-Specific Acquisitions & Portfolio Activity

The buyouts across tech, environmental services, and healthcare reveal targeted deployment strategies across the globe. Actis completed the purchase of a 90% stake in Singaporean environmental management firm 800 Super, bringing its Southeast Asia deployment tally to $1.7 billion, while One Equity finalized the take-private transaction of UK wholesale distributor Kitwave. Healthcare exits are also progressing, as Olympus Partners is preparing to sell the retina business of Eye South for $1.1 billion. In software, Gryphon-backed Rootstock bolstered its Salesforce platform capabilities by acquiring ERP provider Ascent Solutions, and Diversis scooped up fintech firm LTi, where founders will retain minority stakes.

Fundraising Momentum & Strategy Shifts

Despite broader market slowdowns affecting venture capital, established growth equity and specialist firms are successfully concluding large fundraises. Lead Edge Capital successfully closed its seventh fund at $3.5 billion, signaling a commitment to software investments even amidst market volatility. Furthermore, the secondaries market shows strong demand for liquidity solutions, evidenced by AltamarCAM’s acquisition of Mercer’s secondaries capabilities, which Michael Dempsey noted was attractive due to heightened interest in portfolio liquidity. In Japan, a local secondaries shop is poised to wrap up its debut fund near its hard-cap, offering flexibility across direct secondaries and primary rounds.

Venture Capital Flow & AI Focus

The broader venture landscape experienced a sharp deceleration in March, primarily driven by the absence of mega-rounds, yet specialized deep-tech fundraising continues. U.S. startup funding slowed sharply during the month, largely owing to fewer massive AI rounds closing, even as AI firms attempt to attract traditional capital with premium return guarantees. For instance, OpenAI is reportedly offering guaranteed minimum returns of 17.5% to secure private equity investment into its joint venture initiatives. Separately, AI infrastructure startup Gimlet Labs secured an $80 million Series A to develop technology that allows inference processing across heterogeneous chips, including NVIDIA, AMD, and Intel, simultaneously.

Personnel Moves & Managerial Developments

Key appointments and internal promotions signal strategic focus areas within established firms. Aware Super appointed to lead its $11 billion private equity portfolio, while GTCR tapped Donnie Phillips as managing director and chief administrative officer based in its Chicago headquarters. In the UK and Europe, Freshstream promoted, recognizing their central roles in the firm’s strategy across core markets like the UK and France. ECI announced that David Danon is joining as a new partner after nearly two decades with the private equity team at Bain Capital.

Corporate Divestitures & Growth Tactics

Portfolio companies are continuing strategic bolt-on acquisitions and structured sales, sometimes influenced by broader exit pressures. Bridgepoint-backed PEI Group acquired, a provider of private infrastructure benchmarks, while Sovereign sold Knovia, which under its tenure grew revenue by over 15% annually alongside strategic acquisitions. In a structured sale, Advent-backed Cobham Ultra agreed to sell its subsidiary Ultra Cyber to Airbus Defence and Space, a move that reflects the trend toward partial sales when achieving full exit visibility proves challenging, according to West Monroe analysis on longer sellside prep.