Private Equity 24 Hours

Last updated: April 9, 2026, 2:30 PM ET

Fundraising & Secondaries Activity

Fundraising momentum showed a positive sign in the first quarter, with nearly half of all PE funds closing meeting their targets, marking the highest proportion in at least five years, according to data reviewed by PE International. This positive close rate contrasts with some caution appearing in secondary markets, where AI-driven disruptions are causing jitters regarding the sustainability of recent pricing recoveries in venture-backed assets. In contrast to the uncertainty in VC secondaries, specialized markets are seeing substantial raises, exemplified by Court Square Capital Partners closing its fifth flagship fund at $3.8 billion, significantly exceeding its internal goal. Furthermore, LP sentiment is shifting, prompting detailed analysis into how investor priorities are evolving across mandates.

Mega-Deals and Major Exits

The deal pipeline remains active, highlighted by CVC Capital Partners seeking co-investors to back its massive $12.7 billion proposed takeover of Italian pharmaceutical firm Recordati in a major leveraged buyout push. Simultaneously, large-scale continuation fund activity continues, as Onex Partners finalized a $1.6 billion multi-asset vehicle backed by major names including Neuberger, GIC, and Apollo S3, which included stakes in Fidelity Building Services Group and PowerSchool. In Asia, TPG is exploring strategic options for its healthcare portfolio company, Asia One Healthcare, potentially leading to a sale or IPO valued around $7.5 billion, while EQT agreed to divest its stake in Nordic Ferry Infrastructure to a consortium comprising Rederiaktiebolaget Gotland, Interogo Infrastructure, and Lægernes Pension.

Sector-Specific Transactions: Industrials, Tech, and Pharma

Private equity firms are actively executing platform builds and carve-outs across core industrial and healthcare sectors. GTCR formally concluded its acquisition of Zentiva, a European generics pharmaceutical company, from Advent International, signaling a shift in ownership for the asset. In the automotive space, Mutares agreed to purchase two businesses from Magna in a dual carve-out to bolster its existing Amaneos and HiLo Group platforms, aiming to scale operations for a combined value approaching $320 million. Meanwhile, in specialized materials, Astorg is pursuing further add-on acquisitions for its portfolio company Solabia, following three previous bolt-ons that increased revenue from €180 million to €240 million.

Infrastructure, Energy, and Real Estate Moves

Large-scale capital deployment is evident in infrastructure and real estate. Blackstone has established a partnership with Dubai Aerospace Enterprise to initiate an aircraft leasing program targeting approximately $1.6 billion in annual commitments, focusing on fleet expansion. In a take-private transaction, Ares Management agreed to purchase Whitestone REIT in an all-cash deal valued at roughly $1.7 billion. In the energy transition space, Ara Partners committed up to $500 million to waste management firm Sedron to accelerate its project pipeline and manufacturing expansion across North America. Furthermore, buyers in infrastructure secondaries are actively seeking out scarce opportunities in unique assets difficult to access via primary channels.

Mid-Market Activity and Investment Strategy

Mid-market dealmaking saw several strategic purchases and recapitalizations. Charlesbank is leading a new investment round into Bridgepointe Technologies, with existing backer Carlyle Alp Invest also participating in the transaction. In the business services arena, the merger between KLB Business Valuations & Forensic Accountants and Tower Brook-backed Eisner Amper is expected to finalize in May 2026. Focusing on niche sectors, Baymark Partners acquired the fashion and lifestyle brand Katydid, with founder Katy Messersmith remaining as CEO. Elsewhere, specialized buyouts included Council Capital snapping up health tech firm Medical Service Quotes.com, backed by PMPK, and MPE Partners-backed SKB Cases acquiring Nanuk Gear Protection Inc. to broaden its portfolio of protective case manufacturing.

AI Integration and Thematic Investing

The influence of artificial intelligence is shaping investment decisions across both venture and growth equity. Startups focused on leveraging AI, such as tax preparation firm Juno, which received a $12 million injection, are attracting capital as they address specific SMB accounting needs. This trend mirrors wider European developments where AI is actively rewriting entrepreneurship rules, even as established firms like Revolut roll out AI assistants as part of platform expansions. Meanwhile, new funds are launching to capitalize on specific themes; Collide Capital closed its $95 million Fund II specifically earmarked for fintech and future-of-work startups, while Blackstone alum Stephen Blitzer's 154 Partners closed its debut fund at $400 million to focus on sports investments.