Private Equity 24 Hours

Last updated: April 1, 2026, 8:30 AM ET

Dealmaking Activity & Exits

Private equity firms were active across sectors with several major transactions closing and new mandates initiated. Court Square sold Kodiak Building Products for $2.25 billion to QXO, a North American distributor, marking a significant exit in the building materials space. In Europe, Mutares completed the sale of Kalzip, an aluminum roofing and facade systems provider, to Tremco, while simultaneously executing a carve-out of Hamberger Industriewerke’s flooring business completing a flooring carve-out. Elsewhere, HGGC divested Grand Fitness Partners, a Planet Fitness franchisee, to Flynn Group, which also saw the exit of Monogram Capital Partners from its remaining position Monogram Capital exits.

Further consolidation occurred in the advisory and consulting space, with Carlyle agreeing to acquire a majority stake in MAI Capital Management for $2.8 billion in a major wealth management transaction. Simultaneously, Investcorp-backed Resultant acquired Liberty Advisor Group, a consulting firm specializing in M&A advisory for PE clients and Fortune 500 companies. In the legal sector, Cordillera Investment Partners acquired a minority stake in Northridge Law, an independent firm focused on sports law, while ACP finalized a $405 million continuation fund for Proceed, the legal technology firm formerly known as Counsel Press, which grew significantly following twelve add-on acquisitions after its initial purchase in October 2023.

Fundraising & Capital Markets

The fundraising environment showed continued momentum, particularly for specialized funds and in specific geographies. BC Partners secured a first close of approximately $2.5 billion for its newest flagship fund, signaling continued confidence despite shifts in European focus. In Asia, Beijing’s GL Capital achieved a $385 million first close for its GL China Opportunities Fund V, which aims for an $800 million total raise targeting buyout investments. Financing solutions also expanded, as 17Capital closed its Credit Fund 2 at a record $7.5 billion, meeting accelerating demand for private equity Net Asset Value (NAV) loans.

Demand for specialized financing structures was also evident as Dawson closed its second GP financing strategy above its target, raising more than $800 million on a $750 million hard-cap. Meanwhile, in the digital marketplace, Palico is reducing fees to 5 basis points for secondaries sales exceeding $50 million, an effort to attract larger transactions to its LP-led platform. In the venture space, Q1 2026 shattered records, with total startup investment reaching nearly $300 billion, largely fueled by unprecedented spending on AI compute and frontier labs.

Personnel Moves & Strategy Shifts

Key leadership appointments signal strategic shifts across several major firms. Partners Group appointed Pete Zippelius as Co-Head of its Private Equity Health & Life vertical, where he will spearhead new investments and value creation initiatives, drawing on his experience from Leonard Green. Brighstar tapped Eric Epstein as partner and co-chair, effective May 1, 2026, indicating a strengthening of its leadership bench. Separately, Mérieux Equity Partners promoted Quentin de Labarre to partner across its buyout and innovation divisions.

In the specialized advisory and operational support realm, Lime Rock promoted Jeffrey Scofield to president, while Dylan Blackford moved up to managing director. Furthermore, firms are actively seeking expertise in niche areas; Angeles Equity Partners added Derek Rush as VP to focus on industrials sector deals. The growing importance of technology and specific market segments was underscored by TA Associates making a strategic investment in iBase-t to scale its AI-driven manufacturing solutions in aerospace and defense, and Quad-C investing in Dane Street, an independent medical exam provider.

Credit Market Scrutiny & Regulatory Focus

The ballooning private credit market is drawing increased attention from Washington. Leading firms including Blackstone and Ares are engaging with US lawmakers as the sector swells to an estimated $1.8 trillion in size, prompting regulatory scrutiny over its rapid expansion and interconnectedness with traditional finance. This heightened focus contrasts with the operational shifts being made by other firms; for example, Monzo is shutting down its US operations to concentrate resources on its core UK and European markets.

Japan Market Dynamics & Sector Opportunities

Japan continues to attract significant private equity interest, driven by demographic trends and fragmented industries ripe for consolidation. Market observers note that fragmented industries and aging founders create a strong environment for buy-and-build strategies, as highlighted by J-STAR. Simultaneously, Japanese institutional investors are deepening their commitments, with Neuberger Berman noting expanded mid-market allocations alongside increased activity in co-investment and secondaries. Specific opportunities are emerging in healthcare, where demographic shifts favor community-based care, presenting openings for firms like Nihon PMI Partners, while global capital pours into the region, creating an uneven domestic fundraising picture fundraising data reveals disparity.

ESG, Governance, and Emerging Managers

Discussions around governance and emerging managers are shaping LP sentiment. Some investors are wary of certain capital structures, as a wealth manager dismissed evergreen funds as 'weapons of mass destruction'. Limited Partners are also with LPs anticipating what they will demand from emerging managers in 2026, even as they grapple with exit pressures and the ongoing complexity of climate change disclosure in the UK. On the leadership front, profiles of successful women in the industry demonstrated pathways to senior roles, such as CalPERS CEO Marcie Frost rising from a typist position without a college degree, while others, like Permira’s Silvia Oteri, emphasize creating supportive environments to improve gender parity beyond just increasing recruitment numbers.