Private Equity 24 Hours

Last updated: March 31, 2026, 5:30 PM ET

Deal Flow & Transactions

The private equity sector saw a flurry of activity across technology, healthcare, and specialized services, headlined by Carlyle agreeing to acquire a majority stake in wealth management platform MAI Capital Management for over $2.8 billion, a transaction also reported as an acquisition of investment advisor MAI. Elsewhere in software and services, 26North is set to purchase tech firm Intermedia Intelligent Communications from seller Madison Dearborn Partners, while Oak Hill finalized its buyout of internet provider Hunter Communications, keeping Michael Wynschenk as CEO. In the consulting space, Investcorp-backed Resultant expanded its capabilities by acquiring Liberty Advisor Group, a firm specializing in M&A advisory for PE houses and Fortune 500 clients, as Resultant targets one to two such add-on deals annually.

Further acquisitions targeted niche industrial and service providers: Wynnchurch-backed Archer agreed to carve out Sterno’s food service business, a provider of portable food-warming solutions, while Inflexion moved to acquire Marioff, a specialist in high-pressure water mist fire suppression systems. In the environmental sector, Closed Loop Partners scooped up Sutter Metals, and Mountaingate snapped up UpSwell Marketing, which serves consumer service industries like automotive and home services. Separately, Hyperion-backed Ranger Fire and Security bolstered its UK presence by acquiring Total Fire Group, and Greenbelt invested in American Wire Group to support its expansion.

Exits and portfolio adjustments signaled shifting valuations; HGGC sold its Planet Fitness franchisee, Grand Fitness Partners, to Flynn Group, which included the final exit for Monogram Capital Partners from its prior stake. In financial tech, Maven successfully exited Access Pay, a software product linking back-office finance systems to banks, selling the firm to Accel-KKR. On the continent, Hg plans to sell Geomatikk, a digital platform connecting infrastructure stakeholders, to Axcel. Meanwhile, Aurelius is preparing to divest its airline catering business, LSG Asia-Pacific, which it purchased from Deutsche Lufthansa in 2023.

Sectoral Investment Trends: AI & Healthcare

Private equity interest is increasingly flowing into sectors leveraging artificial intelligence and specialized healthcare services. TA Associates made a strategic growth investment into iBase-t to help the firm scale its AI-driven manufacturing solutions, particularly within aerospace and defense, an investment also noted for bolstering the software firm’s global expansion. The trend toward AI extended to venture capital, where Wearable tech firm Whoop achieved a $10.1 billion valuation following a substantial $575 million Series G funding round involving institutional investors. Moreover, seed funding is heavily skewed toward AI, with the largest recent seed rounds overwhelmingly backing companies at the intersection of AI and physical applications, while European fintech is simultaneously undergoing an AI-native transformation.

In healthcare and professional services, Quad-C invested in independent medical exam provider Dane Street, with CEO Greg Powers and the management team remaining in place post-investment. Longu Vue also placed a capital injection into Apex Dental Laboratory Group, executing the transaction alongside Swaney Group Capital. On the advisory front, Carlyle is acquiring a majority stake in MAI Capital Management, valuing the wealth manager at more than $2.8 billion.

Fundraising & Financing Market Dynamics

The demand for private credit and specialized fund structures continues to drive record fundraising milestones. 17Capital successfully closed its Credit Fund 2 at $7.5 billion, setting a new benchmark for Net Asset Value (NAV) loan funds amid accelerating demand for private capital financing. Similarly, Ares spearheaded a $1.7 billion private credit continuation vehicle for Antares, a move designed to unlock liquidity within existing credit assets. On the GP financing side, Dawson closed its latest strategy on a hard-cap of $750 million, surpassing its initial $500 million target for GP financing.

In secondaries, Palico is attempting to attract larger transactions by reducing management fees to 5 basis points for sales exceeding $50 million, according to founder Antoine Dréan. Furthermore, mid-market managers are adopting multi-asset structures to achieve scale, as noted in Elm Capital’s 2025 Private Markets Review.

Firm Strategy and Personnel Moves

Senior leadership changes and strategic positioning were evident across several firms. Lime Rock promoted Jeffrey Scofield to president and elevated Dylan Blackford to managing director. Elsewhere, Angeles Equity Partners tapped Derek Rush as Vice President, where he will concentrate on industrial sector investments, evaluations, and management. In capital deployment strategy, Blackstone-backed Mundys is moving to secure nearly a 30% stake in Getlink as part of its infrastructure expansion efforts. Managers are also keenly aware of regulatory headwinds, as fund managers face rising sanctions risks, impacting distribution flows and allocation behavior. Finally, the US Labor Department proposed changes to ease litigation fears for 401(k) fiduciaries considering offering alternative investments like private equity in retirement plans.