Private Equity 24 Hours

Last updated: May 2, 2026, 5:30 AM ET

Private Equity Deal Flow & Exits

Deal activity saw a major healthcare transaction as ArchiMed moved to take private Esperion Therapeutics in an $1.1 billion agreement, with the closing anticipated in the third quarter of 2026. In contrast to traditional buyouts, AnaCap finalized the sale of its French private bank, Milleis Group, including its banking, life insurance, and asset management subsidiaries, to LCL and Crédit Agricole Assurances. Elsewhere in Europe, Searchlight is set to invest in Closer Still Media, the B2B events firm currently backed by Providence Equity Partners, suggesting continued interest in specialized business services assets.

Sector Focus & Capital Deployment

Private equity firms are demonstrating strong appetite for niche consolidation plays, particularly within healthcare services, as multiple firms eye eye care assets, including major players like Goldman Sachs, Gryphon Investors, and Olympus, looking for platform investments. This targeted sector interest contrasts with broader trends in venture capital, where defense technology is leading large U.S. funding rounds this week, highlighted by a $600 million raise for space security startup True Anomaly. Meanwhile, Neuberger will take a minority stake in Flow Control Group, where existing majority owner KKR will retain control, indicating co-investment structures remain common for growth-stage industrial plays.

Firm Launches and Strategic Shifts

The industry welcomed the official rollout of a new firm, Mako, co-founded by former United Airlines CEO Oscar Munoz, signaling continued capital formation despite market headwinds. Strategically, firms are adapting to technological disruption; TPG views the AI shift from a defensive posture to an offensive weapon, noting its software portfolio achieved 20% year-on-year growth even amid accelerating AI-driven market changes. Personnel movements also occurred, with Riverwood appointing Mac Hofeditz as managing director, joining from Vector Capital Management, underscoring the movement of experienced dealmakers between established firms.

Venture Capital and Non-Dilutive Funding

While traditional PE focuses on large buyouts and sector consolidation, the direct-to-consumer space saw an unconventional funding structure, as DTC brand Musely secured $360 million from General Catalyst using non-dilutive capital specifically earmarked to accelerate customer acquisition efforts. This type of financing contrasts sharply with the concentration of seed capital, which analysis shows is expanding its dominance in the San Francisco Bay Area, which captured an increasing share of both deals and dollars in early-stage U.S. funding this year according to recent data. In alternative asset classes, Avenue Sports Fund injected capital into professional soccer team The North Carolina Courage, demonstrating expanding mandates into specialized sports ownership.