Private Equity 24 Hours

Last updated: May 12, 2026, 11:30 AM ET

Deal Activity & Market Trends

The overall volume of completed private equity transactions remained subdued in Q1, though aggregate deal value rose considerably, reflecting a market where fewer, larger transactions are being finalized. This trend comes as industry participants urge caution around evergreen marketing amid uncertainty, particularly in the secondaries space where volumes have sputtered. In Europe, software investors like PSG are targeting €3.4bn for their third regional fund, aiming for a first-half final close, while a draft of new European merger guidelines is viewed as a "broad positive" for future deal flow.

Exits & Acquisitions Across Sectors

Firms continued to execute strategic exits and bolster portfolio companies through bolt-on acquisitions. Gen Nx360 successfully sold Precision Aviation Group to VSE for more than $2bn, marking a significant exit in the aerospace services sector. Elsewhere, Goldman Sachs Alternatives acquired commercial finance firm FGI, with FGI co-founder Sami Altaher succeeding David DiPiero as CEO post-close. In healthcare, PE-backed Chartis subsidiary HealthScape Advisors acquired Payer Ally, an independent pharmacy advisory firm, while Lorient invested in digital health platform PeterMD to support its national expansion efforts.

Sector-Specific Transactions and Infrastructure

Industrial and infrastructure plays saw notable activity, including Lone Star completing its acquisition of polyamide materials producer DOMO Engineered Materials. In the energy transition space, Blackstone and Halliburton committed $1bn to Volta Grid to hasten the deployment of behind-the-meter power generation solutions aimed at data centers and microgrids. Meanwhile, environmental services saw consolidation as Apollo acquired Noble Environmental to enhance its capabilities in solid waste collection and disposal across municipal and commercial segments.

Software, Tech, and Life Sciences M&A

The software sector remains a focus for targeted growth. Branford Castle-backed Lafayette snapped up Sutter Instrument, a manufacturer of scientific instrumentation serving life sciences markets. In the event services vertical, Dynamic Core-backed Party Reflections purchased Creative Solutions Special Events, adding capabilities in event rentals. Within the consulting sphere, Five Arrows' portfolio company BioPhorum acquired PharmaX Solutions to expand its biopharma consulting footprint.

Venture Funding and AI Momentum

While private equity deal volume dipped, venture activity in Europe shows increasing sophistication, especially around artificial intelligence. A growing percentage of European venture funding in 2026 was AI-driven, supporting investments in frontier model companies. This technological thrust is creating talent demands, with European AI startups expected to poach more staff from Big Tech and a looming talent crunch anticipated for quantum startups. Further evidence of deep-tech investment includes the $2.1bn raised by DeepMind spinout Isomorphic Labs and Apis and Aspirity co-leading a $175M investment in payments processor Paymentology.

Firm Strategy and Personnel Shifts

Major firms continued to reinforce their operational and capital formation teams. Shore Capital appointed Aurelio Banda as executive operating partner to spearhead platform strategy for building an industrial automation distributor. Similarly, Bridge Growth Partners tapped Ragunath Ramanathan as executive partner and Zane Rowe, the CFO of Workday, as a senior advisor. On the investor relations front, Mako recruited Vanessa Gabela to lead its capital formation efforts and manage LP relationships. In fixed income, uncertainty surrounding software assets in secondaries is leading some to believe that certain software businesses will either gain strength from AI or become obsolete.