Private Equity 24 Hours

Last updated: May 8, 2026, 2:30 AM ET

Dealmaking & Exits

Private equity deal flow showed mixed signals, with European General Partners increasing overseas dealmaking even as overall April deal value dipped following a strong first quarter, according to S&P Global data. In specific transactions, Siris Capital is set to realize a threefold return on its investment in Equiniti following the sale to Bullish, with co-founder Frank Baker citing developing interest in tokenized public equity securities beyond tokenized dollars as a key driver. Meanwhile, Carlyle Group and Diversified Energy are acquiring Andarko Basin oil assets from Camino for $1.2bn, securing over 450 development locations in Oklahoma for Diversified through the acquisition. Elsewhere, Siris is also active on the buy side, acquiring renewable energy services provider Takkion from Apollo, which originally purchased the firm in 2020 in a separate transaction.

Sector-Specific Acquisitions & Roll-ups

The business services sector remains active, though some participants are facing headwinds, as Capstone Partners notes a challenged industrials deal market, even as firms like Audax and MSouth reportedly test the market for business services companies coming to market. In the services consolidation space, PE-backed Pye-Barker, a provider of fire protection and life safety services, scooped up AAA Fire Extinguisher Co. Separately, Berkshire Hathaway's portfolio company, Specialized Elevator, executed a merger with Wyatt Elevator, bringing together two established lift service providers founded in 1997 and 2012, respectively under one roof. In healthcare, Sovereign Capital-backed Bioscript expanded its footprint by acquiring Triducive, a consultancy focused on clinical opinion publication for life sciences firms.

Healthcare & Specialty Buyouts

Consolidation continues across specialized healthcare verticals, with Silversmith Capital-backed Med Tech completing an acquisition of Avarion, a managed healthcare IT services provider based in Valencia, California to bolster its offerings. In ophthalmology, Brightstar announced an investment in Simon Eye Holdings, with CEO Edward DiMartino and management retaining a meaningful equity stake post-closing. Further afield, GI Partners is launching a new platform, Rose Bio Solutions, following the acquisition of Charles River Laboratories International's contract development and manufacturing organization and cell solutions business into the new entity.

Infrastructure & Energy Investments

Infrastructure investment remains a focus, particularly in power generation and energy services. SVP has now fully acquired the power generation facility New Frontera Holdings, having initially invested via a first lien term loan before the company's 2021 restructuring to gain control. In a move emphasizing energy transition, Siris acquired renewable energy services provider Takkion from Apollo. On the upstream side, Carlyle and Diversified Energy are spending $1.2bn to secure undeveloped drilling inventory in the Andarko Basin.

Prop Tech, Fin Tech, and AI Investments

Technology buyouts are concentrating on specialized software and AI applications. Main Capital-backed Zig purchased Unik System Design, a proptech firm creating software for property management, to expand its software portfolio. On the financial services front, Norvestia is acquiring Debtist in Germany, a receivables management provider utilizing AI-driven collection services for its technology. Meanwhile, seed-stage funding remains energetic in AI, with A16z leading a $16m seed round for Pit, the new startup from a Voi cofounder, and Fazeshift, which uses AI agents for accounts receivable automation, securing $17M in Series A capital.

Fundraising, Personnel Shifts, and Market Sentiment

In private markets sentiment, there is a notable divergence in liquidity views, with Munich Private Equity Partners' Hans-Christian Moritz describing the current state as the industry moving through the five stages of CV grief regarding a new liquidity reality, though secondaries activity is reportedly thriving on geopolitical volatility driving record transactions. From a fundraising perspective, the Arāya Sie Fund reached a £7.5m first close, specifically targeting investments in women-led startups amidst a period described as a tech ‘bro renaissance’ to promote diversity. Personnel movements underscore growth strategies, as ICG appointed Brant Gresham to lead its US West operations and Felipe Sotomayor to head its Latin America division with new mandates. Furthermore, Middle Ground promoted Alexander van der Have to partner, recognizing his efforts in growing the firm's European presence.

Venture Capital Contraction & Operational Focus

The broader venture capital ecosystem is experiencing contraction and strategic shifts, exemplified by Fidelity quietly shutting down its VC arm. In contrast, digital challenger Revolut is demonstrating an aggressive operational approach, with its new bets division succeeding through "pivoting, fighting and hustling" to drive growth. The intense focus on AI capabilities is leading to restructuring elsewhere, as seen by DeepL cutting 250 jobs in its drive to stay ahead in the generative AI race. European GPs are also pivoting investment focus; while defense tech remains tracked with 72 startups to watch, Texas Teachers is reportedly shifting towards co-investments, even if it entails higher costs, as European defense investment shows mixed results.