Private Equity 24 Hours

Last updated: April 3, 2026, 2:30 AM ET

Fundraising & Capital Deployment

KKR closing its largest regional fund at $23 billion for North America Fund XIV signals continued high-water marks in large-scale private equity fundraising, even as smaller managers also secure commitments; L Squared Capital Partners successfully capped its fifth flagship fund at $2 billion, oversubscribing to reach its hard cap. On the specialized front, Gateway Capital announced the first close of its $25 million Fund II, allowing the Milwaukee-based venture firm to commence investment operations, while a UK fund of funds focused on female investors reached a first close of £130 million. Meanwhile, institutional interest in complex financing structures persists, with Temasek’s early CFLO serving as a historical marker for ongoing GP and LP appetite for structured and CFO technology solutions.

Sector Consolidation & Add-On Activity

The healthcare and business services sectors saw intense M&A activity, characterized by roll-up strategies; New Mountain- and Francisco Partners-backed Office Ally acquired Jopari Solutions to integrate automation into healthcare administrative workflows, while 5CP-backed Radon purchased Majestic Medical Solutions to expand its geographic reach and capabilities. In parallel, Goldman Sachs-backed Liquid Environmental deepened its environmental services network by acquiring New Orleans Grease Trap Cleaning, adding to its non-hazardous wastewater collection facilities. Further consolidation occurred in adjacent professional services, where DC Partners-backed PK Cos. scooped up Pro-Surve Technical Services to merge technology platforms, and Omni Partners-backed Infoshare executed its eighth add-on, acquiring Barbour Logic to automate penalty charge notice correspondence.

Infrastructure & Real Estate Investment

Major global managers are capitalizing on perceived recovery in real assets, with Ares raising $5.4 billion across its US and European value-add real estate strategies. This capital deployment extends to logistics, as Ares also acquired a 7.3 million square foot US logistics portfolio from EQT Real Estate. In infrastructure, BNP Paribas Asset Management Alternatives’ infrastructure secondaries team, which seeded a portfolio in 2023, held a first close on its debut infrastructure fund this year, signaling growing LP appetite in mid-lifecycle secondary assets. Furthermore, Antin acquired LNG service provider Sapphire Gas Solutions from Apollo, illustrating continued private capital interest in essential energy transition infrastructure.

Technology & AI Integration

Private equity firms are aggressively pursuing technology transformation, both through portfolio company acquisitions and direct venture investment; KKR led a $90 million Series C round for Coder to scale enterprise AI development infrastructure, increasing its exposure to this domain. In the realm of AI application, the startup Miravoice secured $6.3 million in seed funding for its AI voice agents designed to conduct long-form phone surveys, while Anvil Robotics raised $5.5 million to build a platform described as 'Legos for robots' for physical AI teams. Interestingly, the focus on AI is even bleeding into unexpected areas, as a vegan sausage pioneer is reportedly setting up an AI law firm dubbed Keith, suggesting AI integration across business models.

Deal Flow Dynamics & Firm Strategy

Activity in the traditional buyout space continues, with Sycamore Partners targeting a $4 billion profit at Walgreens following its $10 billion take-private acquisition, aiming to effectively double the retailer’s profitability. Separation of assets and strategic exits is also on the agenda, as Panini’s shareholders are evaluating a potential $5.8 billion sale amid robust private equity interest in the iconic brand. On the LP side, US pension funds are prioritizing tech adoption to improve oversight; the Florida SBA is nearing vendor selection for a tool to streamline private markets data workflows, potentially allowing staff to refocus analysis on distributions from dividend recaps and exits. Additionally, Frazier Healthcare promoted Ryan Lucero and Christina Reszka to general partner, reflecting internal growth at a firm that has raised over $11 billion for its private funds.

Secondary Markets & GP Evolution

The secondary market is adapting to provide GPs with new avenues for liquidity and fundraising flexibility, exemplified by a live Carlyle deal that reportedly takes the concept of structured solutions to a new level. This push for innovation comes as some managers, like Windrose Health Investors, are expanding internal capabilities by launching dedicated technology services teams for their healthcare investments, which currently total approximately $7 billion in AUM. Meanwhile, activist investor Jana Partners disclosed a 5.1% stake in Alkami Technology, expressly eyeing a private equity exit route for its position. Further illustrating the competitive environment for professional services assets, CPA firms Crowe and Eide Bailly are testing the private equity investor market, joining seven of the top 20 US CPA firms already backed by PE sponsors.