Private Equity 24 Hours

Last updated: March 30, 2026, 8:30 PM ET

Fundraising & Investor Relations

The private equity fundraising environment shows continued strength in the mid-market, evidenced by Inflexion closing its Buyout Fund VII at €4.5 billion, or approximately $4.9 billion, exceeding its initial target. This success was partly attributed to a strategic decision to incorporate non-institutional capital, as the firm added wealth managers following high demand during the oversubscribed raise. Further illustrating institutional interest in the asset class, the Oklahoma Tobacco Settlement Endowment Trust issued an RFP seeking a new investment manager for global private equity funds, signaling ongoing allocation interest despite broader market scrutiny. Separately, the US Labor Department proposed easing litigation fears for pension fiduciaries, which could provide a safe harbour for offering alternatives like private equity within 401(k) and other defined contribution plans, potentially unlocking new capital streams for GPs.

Deal Activity: Buyouts & Acquisitions

Large-scale buyout activity remains active, highlighted by CVC Capital Partners submitting a non-binding offer to take Italian pharmaceutical firm Recordati private in a proposed $12.6 billion transaction. Meanwhile, in the technology and services sectors, Astorg is set to acquire French B2B technical services firm Barkene from Montefiore Investment, while Bridgepoint-backed Prescient snapped up healthcare tech firm Dolon in London, emphasizing continued PE appetite for specialized healthcare consultancies. Elsewhere, the lower middle market saw several add-on acquisitions, including Grove Mountain-backed Hills Distribution acquiring Bender Plumbing Supply, and Monument-backed Champion Wellness Centers scooping up Boca Chiropractic, demonstrating roll-up strategies in fragmented essential services.

Sector-Specific Transactions & Strategy

Private equity firms are aggressively targeting niche technology and compliance plays, with MTIP investing in pharma regulatory compliance provider Verifarma, which currently serves 2,000 companies across 26 countries. In software credit, Permira is reportedly targeting discounted software loans, positioning itself to capitalize on market dislocations driven by artificial intelligence-related fears reshaping credit dynamics. On the exit front, GHK successfully sold ITS Logistics to Echo Global Logistics, a Chicago-based provider of supply chain management services. Furthermore, KKR is endorsing employee stock ownership plans (ESOPs), finding compelling returns, potentially achieving 15x multiples, as liquidity concerns surface for some limited partners.

Financing, Exits, and Governance

Financing for major buyouts is encountering friction, as banks led by JPMorgan face investor resistance over the $7.2 billion debt package backing the CD&R buyout of Sealed Air. This tension contrasts with strategic advice on exits, where Brookfield’s David Nowak stressed early engagement with strategic buyers, educating them over a three- to five-year ownership period to smooth the path to divestiture. In corporate structuring, Alantra plans to sell a minority stake in its fund-of-fund manager, ACP, for €115.1 million, with the transaction expected to finalize in the second half of the year. This strategic sale mirrors a broader trend of financial services firms seeking capital from the growing demand for private capital exposure, as Bank of America launched a dedicated Private Capital M&A Group to capitalize on exit activity.

Venture Capital Spillover & Founder Dynamics

The venture capital segment, often intertwined with PE, saw a substantial seed raise for an artificial intelligence venture, with a former Coatue partner raising a massive $65 million seed round for an enterprise AI agent startup, drawing significant investor attention out of the gate. Meanwhile, discussions continue regarding the future direction of European tech financing, where some founders remain obsessed with emulating Silicon Valley, while others advocate for leveraging Europe’s "second mover advantage" in specific sectors. Governance issues also surfaced in the UK, where the flagship female founder fund lost two founding partners, raising questions about stability in specialized mandate vehicles.