Private Equity 24 Hours

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

Dealmaking Activity & Portfolio Management

Private equity deal flow showed activity across various sectors, with Battery Ventures-backed VertiGIS snapping up 1Spatial to bolster its location master data management capabilities, while DBAY-backed Finsbury Food Group acquired snack producer Flower & White, expanding its footprint in light sweet treats. In infrastructure, Freshstream is exiting TrueNoord, the regional aircraft lessor, through a sale to Arcus Infrastructure, signaling continued appetite for aviation assets. Furthermore, dealmakers observed at Deal Max 2026 noted that business services attractiveness remains high alongside interest in exiting grade-B portfolio companies.

Further strategic maneuvers involved GTCR teaming up with Brian Crotty to establish Avelis Holdings, where Crotty will take the CEO role, while Algebris plans to acquire a stake in Italy’s Geosec, a specialist in ground engineering and soil consolidation services. In a significant carve-out, OpenGate is acquiring TotalSafety’s EMEA division, which services petrochemical and oil and gas clients across the region, indicating targeted acquisitions in essential safety compliance markets. Meanwhile, Martin Marietta agreed to purchase New Frontier Materials, a construction materials platform backed by Declaration Partners, demonstrating ongoing M&A in building inputs.

In a notable transaction, a Macquarie-led group is exiting Cleco, the Louisiana electric utility, selling its stake to Stonepeak and Bernhard Capital, providing an example of a large-scale infrastructure asset turnover. On the operational front, Greybull Stewardship appointed Kevin Mohr as CFO operating partner, bringing two decades of financial leadership experience from the U.S. Coast Guard to support its portfolio companies. Separately, KKR is investing in MLS Next Pro, forming Hometown Soccer Holdings to advance the professional men’s soccer league, illustrating private equity's expansion into sports platforms.

Investor Flows & Liquidity Dynamics

Limited partners are adjusting their strategies, with South Korea’s GEPS planning to commit between $150 million and $200 million to private equity funds in 2026, with a specific focus on buyout and secondaries mandates. This interest in secondary markets is echoed by other institutional investors, as GEPS indicated it will also consider secondaries across private equity, debt, real estate, and infrastructure for investment in 2026. On the liquidity front, Manulife is actively buying infrastructure continuation vehicles (CVs) and secondaries to address lower-than-desired distributions realized from existing infrastructure holdings, even as rising retail flows present new, albeit complex, exit avenues for infrastructure assets.

Advisors suggest that manager selection remains paramount, as Cambridge Associates’ head of Asia-Pacific private investments contends that manager quality should outweigh geographic exposure concerns for alpha-seekers. Furthermore, reports from Deal Max indicated that CVC noted 'minimal redemptions' from its evergreen fund suite, suggesting stability in some liquid fund structures, contrasting with broader market anxieties.

Sector Trends: Tech, AI, and Healthcare

Technology investing continues to be dominated by artificial intelligence, with *approximately 207 AI-focused companies joining the Crunchbase Unicorn Board since 2024, representing nearly half of all new billion-dollar-plus valuations in that timeframe. Venture capital activity remains intense, exemplified by legal tech firm Legora extending its Series D round to $600 million, backed by Nvidia. In a much larger potential transaction, Anthropic is reportedly fielding offers that value the Claude developer near $900 billion for a potential new $50 billion fundraising effort.

In adjacent tech sectors, Boomerang-backed Pinnaql completed its third tuck-in acquisition in 10 months by purchasing Pharma Resource Group, showing aggressive platform building in the healthcare technology space. Tech investors are cautioned by Bain & Co. to prepare for increased competition and the necessity of partial exits, a reality underscored by the rejected joint offer from Energy Capital Partners and KKR for DCC. Meanwhile, startups in Iceland are gaining attention, positioning the nation as an exciting hub per capita, while other firms like Groove Quantum raised €16 million to scale chip production.

Healthcare M&A sponsors are advised to rethink their approach to reach the finish line amid an uptick in dealmaking activity, emphasizing tailored strategies for closing transactions in the sector. Venture capital is also flowing into government-facing technology, with Pursuit announcing a $22 million Series A round backed by figures including Bill Gurley and Jack Altman, aimed at helping companies sell services to government agencies.