Private Equity 24 Hours

Last updated: April 20, 2026, 2:30 PM ET

Private Equity Dealmaking & Exits

Buyout shops are aggressively pursuing exits and making additive acquisitions across sectors, with Blackstone preparing a potential public markets debut for sandwich chain Jersey Mike’s Subs, aiming for an exit valuation that could approach $8 billion. Concurrently, Gryphon Investors is testing the market for its fire safety platform, Jensen Hughes, with sources suggesting a sale could command a valuation of $1.5 billion or more based on prevailing EBITDA multiples in the sector. In Europe, TA Associates is in talks to acquire UK-listed Advanced Medical Solutions in an estimated $810 million transaction, while Permira joins the race to potentially acquire sports agency The Team, signaling continued high-interest appetite for specialized service platforms.

Sector-Specific Transactions & Portfolio Growth

Consolidation remains prevalent in the professional services and industrial spaces, as RedBird Capital Partners acquires UK-based accounting platform Affinia, a fully-integrated services provider. In the industrial realm, Revelar-backed Steele Solutions expands its product categories through the purchase of Maysteel Industries, continuing a strategy of M&A-driven growth under its New York-based owner. Meanwhile, specialized infrastructure deals are with IK Partners agreeing to buy Selatek, which focuses on security and automation services for critical infrastructure, from Amplio Private Equity. Further activity in specialized services saw JC Flowers-backed OneItalia Alliance scoop up Strategica Group, bolstering the insurance brokerage provider launched just last year.

Secondaries Market Dynamics & Capital Solutions

The GP-led secondaries market is seeing continued structural innovation, evidenced by Cerberus Capital completing a single-asset continuation vehicle (CV) for Subsea Communications that secured roughly $2.3 billion in commitments, led by CVC Secondary Partners. This trend of alignment and trophy asset management is prompting general partners to step up cross-fund commitments, as secondaries investors expect GPs to be deeply invested in their "crown-jewel assets." Despite the boom in GP-led transactions, the broader secondaries market faces friction, with the bid-ask spread remaining the most contentious issue in negotiations, even as LPs face a distribution desert leading to a surge in first-time sellers seeking liquidity.

Technology, AI, and European Investment Focus

Activity in the technology space remains focused on high-growth areas, though venture funding for cybersecurity startups saw a slight sequential dip last quarter, still registering a robust $4.9 billion globally above year-ago levels. In the private funding arena, AI-native firm CuspAI is reportedly raising $200 million at a unicorn valuation, illustrating strong investor belief in early-stage foundation model disruptors. European dealmaking continues to attract global capital, with Australian superannuation funds embarking on a tour of the UK and France intending to deploy as much as $430 billion into European private markets, despite domestic concerns that Europe is becoming a "digital colony" grappling with technology sovereignty demands.

Investment Mandates and Regulatory Environment

Firms are circling major software transactions, as Hg, TowerBrook, and Vitruvian Partners submitted bids for a $270 million deal concerning Benchmark, as Schroders reshapes its portfolio holdings. In the insurance sector, Bain Capital Insurance-backed Aptia adds Pension Decision Service, which specializes in one-to-one retirement guidance for pension scheme members. Meanwhile, discussions surrounding institutional capital deployment highlight that private market exposure retains enduring appeal for UK local government pension schemes, though the focus is shifting to integration and education during the pension-pooling transition. Separately, the proliferation of AI models prompts caution, as analysts suggest that many current AI startups exist only within the 12-month window before foundation models expand into their specific categories.