Private Equity 24 Hours

Last updated: March 31, 2026, 8:30 PM ET

Dealmaking Activity Spans Sectors and Geographies

Private equity firms continued an active slate of transactions across technology, healthcare, and industrials, with several firms executing strategic exits and new platform investments. Carlyle Group agreed to acquire a majority stake in wealth management firm MAI Capital Management in a deal valuing the organization at $2.8 billion, while Investcorp-backed Resultant expanded its advisory footprint by acquiring Chicago-based consulting firm Liberty Advisor Group, aiming for one to two add-on deals annually. In the healthcare services space, Oak Hill finalized its buyout of internet provider Hunter Communications, where Michael Wynschenk continues as CEO, and Quad-C invested in independent medical exam provider Dane Street, maintaining the existing management team led by Greg Powers.

Exits and divestitures saw HGGC sell its franchised Planet Fitness operator, Grand Fitness Partners, to Flynn Group, an exit that also allowed Monogram Capital Partners to fully divest its remaining minority stake. Similarly, Maven exited its position in payments software provider AccessPay to Accel-KKR, a company specializing in connecting back-office finance systems to banks. In Europe, Aurelius is preparing to divest its airline catering business, LSG Asia-Pacific, which it acquired from Deutsche Lufthansa in 2023, while Hg plans to sell digital platform provider Geomatikk to Axcel.

Credit, Secondaries, and Fund Financing Show Momentum

The financing environment remains dynamic, punctuated by large fund closes indicating sustained capital availability for portfolio companies. 17Capital successfully closed its Credit Fund 2 at a record $7.5 billion, reflecting accelerating demand for private equity financing solutions, particularly in net asset value (NAV) loans. This demand is mirrored by the private credit space, where Ares led a $1.7 billion continuation vehicle for Antares to provide immediate liquidity. Furthermore, structured solutions specialist Dawson surpassed its target, closing its latest GP financing strategy, Dawson GP Finance, on $800 million against a $500 million goal.

The secondaries market is adjusting fee structures to attract larger transactions, as Palico reduced fees to 5 basis points for sales exceeding $50 million, according to founder Antoine Dréan. Meanwhile, mid-market managers are adopting different strategies, with Elm Capital noting a rise in sector-focused, multi-asset closed-end vehicles (CVs) used to "achieve critical mass." Concurrently, Lime Rock announced internal leadership changes, promoting Jeffrey Scofield to president and Dylan Blackford to managing director, as firms adjust structures to support growth mandates.

Technology and AI Investments Command Premium Valuations

The fervor surrounding artificial intelligence continues to inflate early-stage valuations, placing increased pressure on startups to deliver rapid growth. Among the latest Y Combinator cohort, many AI seed startups achieved valuations around $40 million, reflecting intense competition for early access to potentially transformative technology. This trend is evident across the board, with a majority of the largest seed funding rounds in the past half-year concentrating on companies operating at the intersection of AI and the physical world Crunchbase News. To capitalize on this specialized pipeline, Runway launched a dedicated $10 million fund and Builders program specifically to back companies utilizing its AI video models for real-time "video intelligence" applications.

In later-stage technology plays, TA Associates made a strategic growth investment in iBase-t to scale its AI-driven manufacturing software, particularly within the aerospace and defense sectors, while European fintech is increasingly adopting AI-native foundations. Supporting industry infrastructure, 26North announced its acquisition of communications technology firm Intermedia Intelligent Communications from seller Madison Dearborn Partners.

Sector-Specific Deals in Industrials and Consumer Services

Activity was also concentrated in niche industrial and consumer services segments, suggesting a focus on specialized infrastructure and essential services. Inflexion is set to acquire Marioff, a provider of high-pressure water mist fire suppression systems, bolstering its presence in fire protection. In related security deals, Hyperion-backed Ranger Fire and Security acquired rival Total Fire Group to expand its footprint across the UK and Ireland's fire and security sector. Elsewhere in industrials, Greenbelt invested in American Wire Group to support its ongoing expansion efforts.

Consumer-facing sectors saw Mountaingate acquire UpSwell Marketing, which services local consumer industries like automotive repair and health/wellness, while Ambienta invested in plant-based food producer Bridge, which develops dairy alternatives. In corporate carve-outs, Wynnchurch-backed Archer plans to acquire the food service business of Sterno, a provider of portable food-warming solutions. Meanwhile, Blackstone executed a major real estate exit, selling its Spanish residential portfolio, Fidere, to Brookfield Asset Management for $1.4 billion.

Personnel and Regulatory Shifts

Firms are also making key personnel additions to bolster investment execution, especially in targeted sectors. Angeles Equity Partners appointed Derek Rush as Vice President for its investment team, where he will concentrate on evaluating and managing deals within the industrials sector. In regulatory compliance, private fund managers are confronting increasing risks associated with sanctions enforcement, which is beginning to influence portfolio allocation behavior as managers navigate complex global cross-border restrictions.