Private Equity 24 Hours

Last updated: March 25, 2026, 5:30 PM ET

Private Equity Activity: Deals and Exits

Dealmaking saw diverse activity across sectors, with major power infrastructure and environmental science transactions concluding alongside several strategic acquisitions in specialized manufacturing and services. Clearlake agreed to acquire power and electric services grid Qualus from New Mountain Capital, while in environmental services, Cinven secured GIC as a partner by agreeing to sell a strategic minority stake in Envu, though Cinven will remain the majority investor. Elsewhere, [Chimney Rock] scooped up manufacturer United Electronics Company, an entity whose demand is centered on supporting aircraft and ground-based vehicles, purchasing it from Albion River. Further consolidation occurred as Industrial Opportunity Partners sold retail fixtures provider Royston to LSI for $325 million, an asset they had held since 2018, and Heartwood Partners-backed Amlon acquired Lion Industrial Resources, a waste solutions provider.

Continuation Funds & GP Strategy Shifts

Firms continued to utilize continuation funds to extend optimal hold periods on mature assets, demonstrating a preference for managing high-performing assets internally. Tower Brook successfully completed a continuation fund for business consulting firm EisnerAmper, a transaction spearheaded by Carlyle Alp Invest and supported by Hamilton Lane as a co-lead investor. In a separate move reflecting strategic extensions, the mid-market healthcare specialist QHP delivered a 10x return for its selling LPs through a continuation vehicle designed to extend its hold on a top-performing asset. Meanwhile, Ares Management has taken defensive action in private credit, capping withdrawals from its $10.7 billion Strategic Income Fund in response to a surge in redemption requests across the sector.

Sector-Specific Investments: Tech, Defense, and Wellness

The technology sector attracted substantial capital, particularly in AI and specialized software, alongside significant deployment in defense and wellness. Advent is preparing to deploy up to $1 billion into defense technology, while European quantum computing startups are mapping out the future with over 50 ventures seeking revolutionary breakthroughs. In AI infrastructure, legal tech startup Harvey confirmed an $11 billion valuation following a $200 million round co-led by GIC and Sequoia, who are doubling down on AI-driven legal infrastructure. In adjacent technology, TPG and Allianz jointly led a $350 million strategic investment into CMT to scale its AI-driven mobility platform. On the consumer side, Bansk Group is acquiring wellness shots provider So Good So You, where the co-founders will retain equity and board seats.

Infrastructure, Energy, and Niche Buyouts

Large-scale infrastructure and renewable energy assets commanded multi-billion dollar valuations, reflecting the growing institutional focus on energy transition. Brookfield, partnering with La Caisse, agreed to acquire Canadian renewable energy producer Boralex in a $9.7 billion take-private transaction aimed at scaling renewables growth. Tower Brook also targeted niche enthusiast markets, acquiring French sports platform ID Unlimited to capitalize on the personalization trend for sports apparel, while Alterra backed Wireless Logic alongside General Atlantic and Montagu in the Internet of Things sector. In software consolidation, Accel-KKR completed its exit from Tamigo, a European workforce management provider, after Viking Growth exited the firm, and Etna Capital snapped up digital engineering firm CodeRoad.

Venture Capital Milestones and Fund Formation

The venture ecosystem saw several high-profile funding rounds and the launch of major new funds aimed at growth-stage managers. AI notetaking startup Granola hit unicorn status after securing $125 million in its Series C round. In specialized software, VITL landed $7.5 million to enhance its e-prescribing marketplace serving the soaring cash-pay clinic segment tied to GLP-1 drugs. Meanwhile, specialized capital formation continued, with Pictet Alternative Advisors closing its first direct private equity fund at €403 million (approximately $440 specifically targeting founder-led businesses. In Europe, EIF launched a €15 billion fund of funds intended to back approximately 100 growth-stage venture capital firms, signaling continued appetite for backing emerging managers.

Secondaries Market Moves & LP Sentiment

Movement in the secondaries advisory space saw personnel shifts as firms positioned themselves competitively, while broader Limited Partner sentiment signaled retrenchment in certain geographies. Jefferies brought on senior GP-led talent from Lazard amid this competitive jockeying for advisory mandates. Separately, reports indicated that UK High Net Worth Individuals gained access to 10 of the largest General Partners, even as broader LP sentiment showed a pullback, with reports suggesting LPs are slashing their Africa budgets due to dwindling risk appetites. Furthermore, geopolitical tensions, such as the Iran conflict, could accelerate a rebalancing among Gulf LPs, whose sovereign wealth funds manage $5.4 trillion and have recently been turning capital inwards.