Private Equity 24 Hours

Last updated: April 1, 2026, 11:30 PM ET

Fundraising & Capital Deployment

Private equity fundraising saw major commitments as Ares Management secured $9.8 billion for its flagship Opportunistic Credit strategy, capitalizing on elevated demand for flexible capital solutions across the market. In Europe, BC Partners achieved a $2.5 billion first close for its new flagship fund, signaling continued commitment amid a broader European market shift. Meanwhile, Asian activity included GL Capital holding a $385 million first close for its fifth China Opportunities Fund, which aims for an $800 million target chiefly for buyout investments. Separately, BlackRock expanded an existing mandate with Australia’s sovereign wealth fund to $5.2 billion, demonstrating deep institutional trust in large-scale asset management partnerships.

In the venture capital sphere, the first quarter of 2026 shattered records with $300 billion invested across 6,000 deals, predominantly fueled by unprecedented spending on AI compute and frontier laboratory research. This massive capital inflow contrasts with concerns voiced by institutional allocators regarding older assets, as family offices urged faster winding up of aging "zombie funds" to eliminate valuation risks, according to statements from Stonehage Fleming and Green Bear Group. Furthermore, the Westfield Retirement Board issued an RFP seeking new private equity managers, illustrating that pension funds are actively seeking fresh deployment avenues despite broader market liquidity discussions.

Exits & Portfolio Activity

Firms realized several strategic exits across sectors, including Concentric and Summer Street divesting their stake in Frontier Waste Solutions, a solid waste and recycling firm. In Europe, AURELIUS successfully exited LSG Asia-Pacific to a Japanese consortium, Kobe Bussan and GOURMET KINEYA, after achieving significant operational turnaround and margin expansion during its ownership period. Real estate activity saw Starwood Capital Group sell the Radisson Blu Leicester Square in a prime London hotel transaction to an undisclosed private buyer. Furthermore, Court Square exited Kodiak Building Products for $2.25 billion, selling the North American building product distributor to QXO.

Add-on activity continued apace, with Platinum Equity-backed Cook & Boardman acquiring systems integrator Assurance Media to bolster its integrated access and security offerings. In the manufacturing space, Windjammer acquired PrecisionX, while HIG Capital scooped up aviation security firm GEG from seller Securitas AB. In technology, Eir Partners invested in health tech firm Long Tail to support product innovation and data network expansion, and Godspeed backed defense contractor Galt Aerospace which supports US armed forces operations. Elsewhere, Monument-backed Earth Way Products merged with Border Concepts, a lawn and garden products firm, indicating consolidation in that niche.

Secondaries & Continuation Funds

The continuation fund mechanism saw further utilization, with L Squared concluding a deal for manufacturer BTX Precision, led by Harbour Vest Partners. Similarly, ACP completed a $405 million continuation fund for the legal tech firm Proceed, which it rebranded last year after integrating twelve add-on acquisitions. Discussions surrounding infrastructure secondaries revealed that despite strong pricing, the market currently lacks sufficient dry powder to cover even one year of potential transaction volume, according to Macquarie’s Wandy Hoh at a recent summit. This scarcity of capital overhang suggests continued pricing strength for high-quality infrastructure assets moving through secondary channels.

Strategy & Personnel Shifts

Firms are actively scaling specialized platforms and making senior hires to align with shifting investment focuses. CVC DIF appointed Enrico Del Prete as Partner and Co-Head to manage its $25 billion value-add platform. Meanwhile, Partners Group named Pete Zippelius as Co-Head of its Private Equity Health & Life vertical, tapping a veteran from Leonard Green to co-lead that $13.2 billion strategy. In leadership changes, Brighstar tapped Eric Epstein as partner and co-chair, effective May 2026, while Mérieux Equity Partners promoted Quentin de Labarre to partner. In the UK, a new £200 million fund received backing from pension providers aimed specifically at supercharging homegrown startup growth, contrasting with Monzo’s decision to shut down US operations to concentrate resources on the UK and European markets.

LP sentiment suggests a growing divergence in expectations, with managers being cautioned that scaling private wealth efforts without clear capital source mapping is risky, and some wealth managers dismissing evergreen structures as "weapons of mass destruction". Furthermore, there is ongoing confusion among UK LPs regarding climate change disclosures, even as firms like EQT and Atomico compete to manage the high-profile €5 billion EU Scaleup Fund, where final fee structures remain undecided.

Recognition & Sector Focus

Recent recognition acknowledged leading figures in the industry, with CalPERS CEO Marcie Frost named alongside partners from Bain Capital's Jennifer Davis and Thoma Bravo’s Jennifer James among the notable women in private equity. Ms. Frost’s trajectory, rising from a typist without a degree to leading the largest US public pension, exemplified the resilience praised by the publication. In deep technology, AI chip developer Cognichip raised $60 million to develop designs that promise to cut chip development costs by over 75%. This AI focus aligns with broader sector trends, though some investors are wary of supporting what critics term "welfare for weak startups", contrasting with the success of European deeptech firms like Danish AI lab Corti which beat OpenAI in medical coding benchmarks.