Private Equity 24 Hours

Last updated: April 23, 2026, 11:30 AM ET

Dealmaking Activity & Firm Strategy

The mid-market saw several strategic moves, with KKR committing $1.5 billion to communications infrastructure operator Vertical Bridge, alongside existing backers Digital Bridge and La Caisse. In the carve-out space, AIP agreed to purchase Honeywell’s warehouse and workflow solutions business headquartered in Charlotte, North Carolina. Meanwhile, German firm Mutares is evaluating a Houston presence as its US visibility grows following its agreed acquisition of the Americas and Europe ETP business from petrochemicals giant Sabic, signaling expansion beyond its core European focus.

Healthcare and tech services were active sectors for transactions; HIG Capital plans to divest clinical research organization Celerion to THL Partners, while PE-backed Alcami, a contract development and manufacturing organization, is acquiring Tjoapack. In managed network services, Grain Management-backed Spectrotel will merge with Aire Spring, a New Jersey-based connectivity provider. Elsewhere, Triton-backed Flokk completed its purchase of Spec Furniture, which serves the education and healthcare contract segments across the US and Canada.

In consumer and specialized services, L Catterton and Patricof formed CHAMP, an athlete branding firm that already partners with 250 figures including Kevin Durant and Justin Jefferson to connect athletes with consumer brands. On the buy-side, Allied Industrial-backed CES Power executed three immediate acquisitions in Ireland: GH Energy Rental, Event Power, and Purecore. Separately, FTV Capital announced an investment into fintech firm Valitana to accelerate its AI roadmap in structured credit markets, including CMBS and ABS, while JP Morgan’s John Burns anticipates a stronger pipeline of mid-cap companies coming to market soon.

Fund Structure & Investor Trends

Limited Partners are showing increased flexibility regarding fund structures, with a report from Morgan Lewis indicating that over half of Complex Vehicles (CVs) now employ carried interest waterfalls utilizing both Internal Rate of Return (IRR) and Multiple of Invested Capital (MOIC) hurdles. Further illustrating shifts in how capital is deployed, Pantheon and Ardian unveiled new products targeting infrastructure; Pantheon received regulatory approval for its evergreen Global Infrastructure Secondaries Fund, while Ardian launched a feeder to access Australian wholesale investors. Separately, pension funds are facing governance issues, as the Nevada PERS granted its adviser discretion over its Clearlake Capital Partners holdings due to a conflict of interest, potentially leading to liquidation in the secondaries market.

Venture Capital & Emerging Technology

The AI sector continues to draw significant capital, with early-stage funding flowing into firms applying agentic technology to specialized industrial workflows; Cloneable secured $4.6 million in seed funding to replicate expert knowledge in utilities using autonomous agents. While this investment focuses on infrastructure, the broader venture ecosystem is seeing interest in high-risk, high-reward science; private investment in fusion energy surged from $10 billion to $15 billion in recent months, suggesting investors believe the long-promised technology is nearing commercial viability. Meanwhile, funding for EV-related startups shows modest gains, characterized by large rounds for a few brands but remaining far below previous peaks, reflecting investor caution in that segment.

Personnel & Industry Events

The private markets community is preparing for upcoming networking and talent recognition events. Organizers are advising interested parties to secure tickets soon for the first Strictly VC conference of 2026, scheduled for April 30 at the Sentio Filipino Cultural Center in San Francisco. In talent news, Bowmark announced three promotions within its investment team, elevating Jamal Lakhani to investment director and naming Inderpal Lall and Oleksandra Rovinska as investment managers. Furthermore, GPs are reportedly offering larger compensation packages to attract specialized talent, particularly those with expertise in Artificial Intelligence.