Private Equity 24 Hours

Last updated: April 29, 2026, 8:30 PM ET

Dealmaking Activity & Sector Focus

Private equity deal flow showed continued, targeted activity across various sectors, though sponsors are being advised to adopt new playbooks for success, particularly in health care M&A moving towards 2026 Five rules smart sponsors are following. In the industrial and safety space, OpenGate is moving to acquire Total Safety’s EMEA division, which services critical petrochemical and oil and gas clients across Europe, the Middle East, and Africa, while elsewhere, HKW-backed Urban Armor Gear picked up Nomad Goods, a designer of mobile device accessories, expanding the portfolio's reach. Furthermore, portfolio companies continued their aggressive bolt-on strategies, with PE-backed Corporate Technologies announcing its purchase of RPM Technologies, a Minneapolis-based managed IT and cybersecurity provider targeting SMBs, and Godspeed-backed ERG acquiring Haltom Engineering, a Mississippi-based engineering and design firm.

Infrastructure & Energy Transactions

Capital deployment shifted toward essential infrastructure and renewables, evidenced by Blackstone Infrastructure agreeing to back Eurowind Energy, a pan-European independent power producer and renewables developer, alongside a major exit in the sector where Advent and Cinven secured a €29.4 billion exit from escalator manufacturer TKE. In specialized energy assets, PSEI divested a minority stake in Big Sky Wind to Hamilton Lane and GCM Grosvenor, though PSEI intends to retain majority ownership and operational control. Meanwhile, in the realm of specialized asset management, Archimed and La Caisse jointly acquired Stago, a developer and manufacturer of hemostasis equipment and reagents, demonstrating continued appetite for specialized life science manufacturing assets.

Technology & Early-Stage Funding Trends

Venture investment showed bifurcation, with seed-stage funding remaining substantial but increasingly concentrated, as over half of seed dollars last year flowed into deals valued at $10 million or more, even as overall deal counts declined from their 2021-2022 peak. In the government technology space, startup Pursuit announced a $22 million Series A, attracting backing from prominent VCs like Mike Rosengarten, co-founder of Open Gov, while AI-focused analytics platform Dreambase successfully closed a $3.7 million round with participation from Supabase executives impressed by its data-driven approach. Separately, corporate venture arms are focusing on deep tech; BMW i Ventures launched a new $300 million fund that prioritizes agentic AI, physical AI, and advanced materials, reflecting broader investment themes.

Firm Management & Governance Discussions

The relationship between limited partners (LPs) and general partners (GPs) remains under scrutiny, with investor concerns growing around conflicts of interest, prompting LPs to prioritize key person provisions and carried interest distribution terms in negotiations. This focus on governance surfaces as spin-out managers are reportedly enjoying an edge in GP financing compared to truly emerging managers lacking ties to established firms. On the personnel front, Ares Management appointed Peter Ogilvie as COO and head of strategy, elevating him from his current role as a partner within the corporate strategy group. In leadership moves, Chad Doerge transitioned to Round Hill as president and deputy CEO, joining the music-focused firm which holds rights to major artists like Madonna and Elvis Presley Chad Doerge pivots to music dealmaking.

Platform Acquisitions & Specialized Investments

Platform companies utilized PE backing to expand capabilities through acquisitions, such as Falfurrias backing Young American Food Brands, where CEO Robert Young will remain in his leadership role. In the enterprise services realm, Catchment invested in Vertech Industrial Systems, which provides services across critical sectors including data centers and water/wastewater treatment. Meanwhile, German private equity saw targeted activity, with Deutsche Beteiligungs AG acquiring a stake in Bug Bounty Switzerland, a Saa S business focused on ethical hacking and security testing, and Montagu preparing to acquire DQS, a global provider of certification and business assurance services.

Geopolitical & Market Specialization

Venture capital strategies are adapting to global fragmentation, prompting firms like Kompas VC to carve out a niche in startups focused on the physical world rather than purely digital solutions amid geopolitical turbulence, contrasting with the focus on domestic industrial strength seen in Japan Japan’s unique fusion of creativity and precision engineering. In Europe, tech investment remains dynamic, with VCs closely watching 16 French startups designated for attention and tracking the growth of secondary tech hubs Europe's fastest-rising ‘tier two’ tech hubs. Furthermore, regulatory scrutiny on supply chain resilience is growing, as exemplified by Britain increasing its focus on tech chokepoints, a concern that often drives private equity interest in industrial software and supply chain tech BMW i Ventures new $300M fund.