Private Equity 24 Hours

Last updated: March 27, 2026, 5:30 PM ET

Private Equity Strategy & Sector Focus

The private equity industry is entering a more selective phase, moving away from the era defined by readily available cheap debt and inflated multiples, suggesting managers are now prioritizing "substance over structure," with hold periods potentially extending to 12 years from the traditional five. This strategic shift coincides with sector-specific targeting, as firms see immense opportunity in areas like women’s health, where a reported $1 trillion gap is attracting investment, alongside intense competition for pathology assets involving major players such as Astorg, Cinven, and Nordic Capital. Meanwhile, portfolio activity shows diverse exits and acquisitions, exemplified by Advent’s planned sale of hair care brand Olaplex to Henkel for $1.4 billion, marking a full exit for the firm, while Advent simultaneously agreed to invest in engineering and consulting firm Atwell, with the transaction expected to close in the second quarter of 2026.

Dealmaking and Exits Across Geographies

Deal flow this week demonstrated continued activity, albeit concentrated in specific technology and services niches, as HIG Capital prepares to sell its Brazilian internet service provider stake to Claro in a transaction valued at approximately $750 million. In M&A, SAP moved to acquire New View Capital-backed data management company Reltio, with closing anticipated in the second or third quarter of 2026, showcasing tech consolidation. Separately, the consumer health sector is seeing investment driven by GLP-1 drugs and preventative products, evidenced by LDC completing its exit from occupational health business PAM Healthcare to Optima Healthcare. Furthermore, private credit platforms are attracting capital, with Bonaccord making a minority investment in commercial real estate credit platform Prime Finance to bolster its balance sheet and expand its overall credit offerings.

Venture Capital & The AI Investment Wave

The broader venture ecosystem remains highly active, particularly in technology hubs, as Austin’s startup scene recorded all-time high funding levels, indicating enduring investor confidence in Texas-based innovation despite macroeconomic uncertainties. This funding surge is mirrored globally in the AI space, where venture capital continues to pour into foundational models and applications; globally, the week’s largest deals were led by OpenAI’s disclosure of raising another $10 billion, signaling the massive capital requirements for scaling frontier AI. European investors are also actively hunting for the next generation of deeptech leaders, with particular interest shown in the UK’s Oxford ecosystem for AI firms similar to DeepMind's success, while Spanish investors are closely watching 11 specific AI startups emerging from that market.

Operational Pressures and Firm Adjustments

Despite high levels of dealmaking and sector focus, operational pressures are compelling some firms to restructure, a situation exacerbated by the slowing rate of deployment in certain areas. European venture firm Speedinvest announced workforce cuts, reducing its team by 10% following a period characterized by internal churn. This environment of selectivity and adjustment is also reflected in support services, where investment banks are adapting to shifting client needs; for instance, Evercore is expanding its Europe-based credit secondaries team, hiring four professionals, including two from PJT, to better service complex credit restructuring and secondary market transactions. Firms are actively seeking ways to realize value from investments, particularly in areas like AI, where the focus is shifting from mere hype to demonstrable business impact and scaling technology effectively.