Private Equity 24 Hours

Last updated: April 1, 2026, 2:30 AM ET

Dealmaking & Corporate Activity

Carlyle taking majority stake in wealth manager MAI Capital Management was confirmed as a $2.8 billion transaction, while the firm also moved to acquire a stake between 8% and 10% in Brazilian cosmetics giant Natura following a governance overhaul Advent taking up to 10% stake. In other major transactions, 26North is acquiring technology firm Intermedia Intelligent Communications from Madison Dearborn Partners, and Oak Hill finalized its buyout of regional internet provider Hunter Communications. Further activity saw HGGC successfully divesting its stake in Planet Fitness franchisee Grand Fitness Partners to Flynn Group, which also exited its remaining position via Monogram Capital Partners.

Mid-market acquisitions continued across various sectors, with Quad-C investing in independent medical exam provider Dane Street, ensuring the management team remains intact under CEO Greg Powers. In the industrials space, Inflexion agreed to acquire Norwegian fire protection firm Marioff, which specializes in high-pressure water mist suppression, while Wynnchurch-backed Archer prepared to carve out and acquire Sterno’s food service business. Elsewhere, Closed Loop Partners acquired recycling firm Sutter Metals, and Hyperion-backed Ranger Fire and Security bolstered its UK presence by purchasing Total Fire Group.

Sector Focus: Tech, Health & AI

The burgeoning artificial intelligence sector continues to draw significant venture capital, with the most recent Y Combinator cohort showing seed-stage startups commanding average valuations around $40 million, suggesting higher expectations accompany the influx of capital. Runway is further fueling this ecosystem by launching a $10 million fund and Builders program specifically aimed at companies leveraging its AI video models for real-time "video intelligence" applications Runway launches $10M fund. In enterprise software, TA Associates has strategically backed iBase-t to expand its AI-driven manufacturing solutions, particularly within the aerospace and defense sectors TA backs iBase-t to scale, while European fintech firms are increasingly adopting AI-native architectures European fintech is going AI-native. Medical technology also saw a breakthrough, as Danish AI lab Corti outperformed competitors like OpenAI and Anthropic in complex medical coding tasks.

In health services, Nihon PMI Partners CEO Satoshi Hamada indicated that demographic shifts favoring community-based care over traditional hospitals are creating ripe investment opportunities in Japan’s home-based healthcare market Nihon PMI Partners on tapping. Additionally, Longu Vue, in partnership with Swaney Group Capital, invested in Apex Dental Laboratory Group, while Quad-C invested in Dane Street, an independent medical exam provider Quad-C invests in Dane Street.

GP Stakes & Fund Financing

The demand for private equity financing solutions is accelerating, evidenced by 17Capital closing its Credit Fund 2 at a record $7.5 billion, significantly surpassing its initial $500 million target 17Capital raises record $7.5bn NAV loan fund. Similarly, Dawson closed its latest GP financing vehicle above its hard-cap, securing more than $800 million for Dawson GP Finance 2 against a $500 million goal. In the credit secondary market, Ares led a substantial $1.7 billion continuation vehicle for Antares, aiming to unlock private credit liquidity. On the advisory front, Brad Pilcher of Bonaccord Capital Partners explained that GP stakes investors offer mid-market general partners crucial global expertise and new liquidity avenues as they seek to scale Bonaccord Capital Partners: Bringing expertise.

Legal experts at Fried Frank emphasized that GP stakes transactions represent an ideal moment to formally address succession planning within a firm, though the process requires meticulous execution Fried Frank on tackling succession planning. Meanwhile, the evolving LP landscape in Japan shows institutional investors are expanding their private equity allocations into the mid-market, co-investment, and secondaries segments Neuberger Berman on the evolution.

Geographic Focus: Japan & Europe

Japan remains a significant magnet for global capital, although fundraising data suggests a more uneven domestic environment influenced by cyclical dynamics and local constraints Five fundraising trends shaping Asia’s hottest market. Private equity firms are actively targeting fragmented industries where aging founders present clear opportunities for buy-and-build strategies, according to J-STAR partners J-STAR on Japan’s roll-up opportunity. T Capital Partners sees particular value in Japan’s small and mid-cap segment, which is ripe for transformation initiatives T Capital Partners on unlocking value, while LYFE Capital founder James Zhao stressed the necessity of cultural integration for foreign investors to fully access these opportunities LYFE Capital: Bridging the cultural divide. Elsewhere in the region, JIC’s Head of Fund Investments, Yuka Hata, is focused on revolutionizing the nascent Japanese venture capital market How JIC is cultivating Japan’s blue ocean.

In Europe, the decision for managing the EU’s €5 billion Scaleup Fund remains imminent, with managers still deliberating over fee structures Manager decision imminent for EU’s €5bn Scaleup Fund. Separately, credit data startup 9fin achieved unicorn status following a $170 million funding round Credit data startup 9fin crowned Europe’s newest unicorn. On the exit front, Hg is preparing to sell its stake in digital infrastructure firm Geomatikk to Axcel, while Aurelius plans to divest its airline catering arm, LSG APAC, which it acquired from Deutsche Lufthansa in 2023 Aurelius to sell airline catering business. Commentators also warned that policymakers pushing for "tech sovereignty" risk creating unnecessary "welfare" for underperforming domestic startups Matt Miller: Tech sovereignty is ‘welfare’.

Exits & Personnel Moves

In strategic divestments, Maven exited its position in financial connectivity software provider Access Pay to Accel-KKR, and Alantra IM agreed to sell its minority stake in French fund-of-funds manager Access Capital Partners Alantra IM to exit stake. Blackstone finalized the sale of its Spanish housing portfolio to Brookfield Asset Management for $1.4 billion. Meanwhile, Lime Rock Partners announced the promotion of Jeffrey Scofield to president and Dylan Blackford to managing director Lime Rock promotes Jeffrey Scofield. Angeles Equity Partners bolstered its investment team by appointing Derek Rush as Vice President, focusing on the industrials sector Angeles Equity Partners taps Derek Rush.