Private Equity 24 Hours

Last updated: April 14, 2026, 2:30 PM ET

Fundraising & Debut Successes

The private equity fundraising environment remains receptive to established figures and focused niche strategies, as evidenced by several major closings reported this week. Josh Harris’ 26North successfully concluded its inaugural fundraise, securing $5.9 billion, exceeding its initial target in a strong market debut. Concurrently, Carlyle Group achieved a $1.5 billion first close for its new asset-backed income fund, signaling continuing LP appetite for income-generating strategies. In the lower mid-market space, 154 Partners successfully hit its $400 million hard cap for its debut fund, demonstrating sustained investor demand for lower middle-market exposure.

Deal Making & Sector Activity

Deal flow saw activity across technology, industrials, and healthcare sectors, often involving strategic bolt-ons or take-privates. AIP agreed to acquire medtech firm Avanos Medical at an approximate valuation of $1.272 billion, while in the industrials sector, Gen Nx360-backed Horsburgh & Scott expanded its footprint by acquiring Franklin Machine & Gear, a Cleveland-based provider of industrial gearing solutions. In technology infrastructure, TPG moved to bolster its sports strategy by agreeing to acquire Learfield, a platform specializing in media and technology for college athletics. Meanwhile, HGGC-backed Equity Methods announced plans to acquire Equity Plan Solutions, an advisory firm specializing in equity compensation and complex securities valuation.

Secondaries Market & Liquidity Solutions

The secondary market remains active, driven by both institutional needs for liquidity and managers seeking to deploy capital via continuation vehicles (CVs). Goldman Sachs Asset Management and Ardian jointly acquired a $1 billion US portfolio from CIC at a discount, capitalizing on secondary market pricing inefficiencies. Furthermore, managers are increasingly utilizing CVs, with Carlyle AlpInvest leading four such transactions year-to-date, while tech-focused investor Alder moved two assets into an Article 9 sustainability-focused continuation vehicle that was led by Pantheon. To meet rising demand for credit liquidity, Sycamore Tree Capital Partners launched a dedicated credit secondaries investment platform.

Strategy Shifts & Talent Moves

Major private equity firms are recalibrating investment focus and strengthening operational teams. Thoma Bravo is strategically pivoting away from its growth equity platform to concentrate resources solely on its core buyout operations. In personnel movements, THL Partners appointed Dave Guilmette as an executive partner within its fintech and services investment group, tasked with sourcing opportunities across insurance and financial services. Separately, Infinedi Partners tapped Rohan Arora as a principal to lead investment sourcing and execution.

Sector Deep Dives: Tech Resilience & Accounting Focus

Discussions around technology resilience, particularly against the backdrop of artificial intelligence advancements, continue to shape investment theses. Battery Ventures partner Zak Ewen suggested that software companies demonstrating deep end-market understanding, beyond just product features, are better insulated from AI-driven disintermediation. This trend is mirrored by PE interest in professional services; for instance, Tower Brook-backed Eisner Amper is merging with KLB Business Valuators & Forensic Accountants, illustrating private equity’s attraction to accounting and advisory firms. Separately, a16z led a $20 million seed round for Pillar, a financial risk management platform aiming to deliver institutional-grade hedging tools to SMEs.

European Activity and Niche Focuses

European dealmaking remains characterized by specific sector interests, notably defense and bioeconomy, alongside a general trend toward AI-driven funding growth in venture capital. European venture funding climbed nearly 30% year-over-year to $17.6 billion in Q1 2026, primarily fueled by AI investments, even as overall deal volume contracted. In specialized sectors, MEAG-Warburg Pincus’ deal involving a defense asset suggests US managers are successfully exporting their sector expertise to Europe amid rising regional appetite for defense investments. Meanwhile, in the life sciences, EQT, Advent, and KKR are reportedly evaluating options for Poly Peptide Group, while France is actively leading the continent’s bioeconomy push.