Private Equity 24 Hours

Last updated: April 9, 2026, 8:30 PM ET

Fundraising & Capital Deployment

Private equity fundraising shows tentative signs of recovery, with nearly half of the funds that closed in the first quarter meeting their target raises, marking the highest proportion observed in at least five years. This early upturn suggests improving conditions, as average fundraising timelines in Q1 compressed to approximately 14 months, the shortest duration seen since 2022 signaling green shoots. Amid this stabilization, Court Square Capital Partners successfully closed its fifth flagship fund at $3.8 billion, significantly exceeding its target. Elsewhere, specialist managers are also securing capital, demonstrated by Collide Capital closing its Fund II at $95 million, earmarked for fintech and future-of-work startups.

Mega-Deals and Portfolio Transactions

Major transactions continued across sectors, highlighted by CVC Capital Partners seeking co-investors to back its proposed $12.7 billion takeover of Italian drugmaker Recordati, signaling continued appetite for mega buyouts. In the generics pharmaceutical space, GTCR finalized its acquisition of Zentiva from Advent, marking a significant portfolio transition. Meanwhile, European activity saw Mutares agree to dual carve-outs from Magna, aiming to build a $320 million automotive platform through the purchase of two supplier businesses intended to strengthen its Amaneos and HiLo Group entities acquiring two businesses. In infrastructure, EQT agreed to divest its stake in Nordic Ferry Infrastructure to a consortium comprising Rederiaktiebolaget Gotland, Interogo Infrastructure, and Lægernes Pension.

Sector-Specific Activity: Healthcare & Industrials

Activity in healthcare and specialized industrials remained brisk. Avista executed the acquisition of Bentech Medical, taking over ownership from sellers Greyrock and Hermitage Equity Partners. In a separate deal, Council Capital, backed by PMPK, snapped up the health technology firm Medical Service Quotes.com. The ingredients sector is seeing consolidation, with Astorg continuing to hunt for add-ons for its portfolio company Solabia, which has already seen revenue increase from €180 million to €240 million following three recent acquisitions eyes opportunities. Furthermore, Ara Partners committed up to $500 million to waste management firm Sedron to accelerate its North American manufacturing and project development pipeline.

Real Estate & Aviation Finance

Private equity deployed significant capital into real assets. Ares Management agreed to acquire Whitestone REIT in an all-cash transaction valued at approximately $1.7 billion, representing a full take-private of the real estate investment trust. In aviation finance, Blackstone has teamed with Dubai Aerospace Enterprise to launch a new aircraft leasing program targeting an annual deployment of about $1.6 billion. In the secondaries market, buyers are actively seeking out infrastructure assets, seeing opportunities to enter unique assets that are difficult to access via primary offerings.

Continuation Funds & Secondary Market Dynamics

Continuation fund activity remains a feature of the market, as evidenced by Onex Partners completing a $1.6 billion multi-asset continuation vehicle, which included stakes in Fidelity Building Services Group, Power School, and Sedgwick, drawing lead investment from firms like Neuberger, GIC, Apollo S3, and Step Stone completes $1.6bn CV. In the broader venture secondaries space, recent pricing recoveries are facing scrutiny regarding their long-term viability, specifically due to the rapid pace of AI-driven technology disruptions. Meanwhile, portfolio managers noted that some evergreen funds benefit from short-term performance boosts derived from these secondary market mark-ups, prompting a need for evergreen rationalization.

Technology, Defense, and Exits

Defense technology provider Aevex, backed by Madison Dearborn, is preparing for an initial public offering, setting price terms that target an overall valuation of $2.35 billion for the $336 million offering targets $2.35bn valuation. In the specialized IT services realm, Gryphon-backed Caylent, an AWS partner, announced the acquisition of Pronetx, continuing a trend of platform expansion. Separately, TPG is exploring strategic exit options for its Asia One Healthcare unit, potentially leading to a sale or IPO that could value the asset at $7.5 billion, having appointed Malayan Banking and UBS to evaluate the path forward. In other technology consolidation, Charlesbank is leading an investment into Bridgepointe Technologies, with Carlyle Alp Invest also participating alongside Charlesbank, an existing backer.

Exits and Operational Integration

Divestitures involved both corporate carve-outs and strategic sales. Juniper Capital sold Precision Aerospace to Centerbridge-backed Precinmac; the manufacturer serves demanding sectors including aerospace, defense, and power generation. In the professional services sector, TowerBrook-backed EisnerAmper is set to merge with KLB Business Valuations & Forensic Accountants, with the transaction anticipated to conclude in May 2026. In Europe, Aurelius acquired Landis+Gyr’s EMEA metering business, encompassing the full portfolio for residential electricity and gas metering solutions. Meanwhile, management consultancies observe that the current environment presents unparalleled change, with ADL partner Robert Albarano noting the complexity of the rapidly shifting market dynamics.