Private Equity 24 Hours

Last updated: May 12, 2026, 5:30 PM ET

Deal Activity & Sector Consolidation

Private equity deal value rose considerably in the first quarter despite a continued drop in transaction volume, suggesting firms are pursuing larger, more strategic acquisitions, according to analysis of S&P Global Market Intelligence data. This trend is reflected in several major transactions across various sectors, including Apollo acquiring Noble Environmental, which provides comprehensive solid waste services, and Green Arrow Capital completing its acquisition of DeA Capital, a deal that immediately establishes Italy’s largest alternative investment manager with approximately €8 billion in assets under management. Smaller, bolt-on acquisitions also continued apace, with E2p-backed Roskam Foods picking up Kitchen Partners, a manufacturer of frozen breakfast foods, and Dynamic Core-backed Party Reflections acquiring Creative Solutions Special Events, an event rental provider.

In M&A news, EQT launched a tender offer to take Japan's Kakaku.com private at JPY 3,000 ($19. per share, while simultaneously escalating its pursuit of Intertek, raising its takeover offer to $12.5bn in what it signaled was a final bid. Further consolidation occurred in specialized industrial testing, as Bridgepoint-backed NMi Group agreed to acquire TechnoLab, a Berlin-based environmental testing laboratory, while Graycliff snapped up Tramont Manufacturing, with the executive chairman retaining meaningful ownership. In the financial services space, Goldman Sachs Alternatives acquired commercial finance firm FGI, installing FGI’s co-founder as the new CEO following the transaction.

Fundraising Milestones & Investor Relations

Venture capital saw a significant close as Kevin Hartz’s A[Capital secured $450 million](https://headlinesbriefing.com/private-markets/techcrunch-venture/kevin-hartzs-a-capital-raises-450m-fund-iii-for-early-stage-tech-startups-62df199d) for its third early-stage fund. On the institutional front, the Qatar Investment Authority committed $500m to deepen its existing relationship with General Atlantic's global growth equity strategies. Meanwhile, PSG is seeking a first-half final close for its latest European fund, targeting €3.4bn for its software investment vehicle. Investor relations and capital formation teams are also actively expanding, evidenced by Mako recruiting Vanessa Gabela as partner and IR head to lead its capital formation efforts, and Pantheon hiring Leif Lindbäck from CVC to drive its GP-led secondaries push.

Secondaries Market & Data Gaps

The secondaries market is experiencing headwinds, with industry participants urging caution around evergreen marketing as overall volumes stutter amidst broader market uncertainty. Specifically in the technology space, HarbourVest noted that software secondaries are getting harder to close, as managers must differentiate between software firms poised to benefit from AI innovation and those likely to become obsolete. Addressing data challenges, Scientific Infra & Private Assets discussed the importance of asset-level data for accurately measuring alpha in private markets, coinciding with the firm joining the PEI Group.

Sector Focus: AI, Tech, & Health

The technology sector remains a major focus, particularly as European AI funding showed a growing percentage of venture capital in 2026. In a move signaling confidence in frontier models, DeepMind spinout Isomorphic Labs raised $2.1bn. Furthermore, as AI talent wars intensify, European AI startups are expected to poach more professionals from Big Tech, although a separate report warns of a looming commercial talent crunch for quantum startups. In fintech, Apis and Aspirity co-led a $175 million investment into Paymentology, a payments processing platform. In healthcare, Lorient invested in health platform PeterMD to accelerate its national expansion, while a PE-backed Chartis subsidiary, HealthScape Advisors, acquired indie pharmacy PayerAlly.

Executive Moves & European Markets

Private equity firms continued to refresh senior leadership and operational expertise across their platforms. Shore Capital appointed Aurelio Banda as executive operating partner to build out an industrial automation distributor platform, while Bridge Growth Partners tapped Ragunath Ramanathan and Zane Rowe for executive partner and senior advisor roles, respectively. On the advisory front, former executives from Kings III Emergency and ATIS have joined the board of the newly unveiled Ascend Safety Collective, formed by Altaline and Haven to create an elevator services network. Meanwhile, the European ecosystem is preparing for key industry gatherings, with CEE's largest private equity conference returning to Warsaw this May and Switzerland's largest conference scheduled for Zurich this June.

Exits and Portfolio Management

Firms are actively realizing value, with Gen Nx360 selling Precision Aviation Group to VSE for over $2bn. In real estate, KKR successfully exited a 213-unit Danish residential portfolio to Pears Global Real Estate Denmark, divesting an asset acquired in 2021. On the IPO front, Advent filed an S-1 registration statement for INNIO Group, aiming to capitalize on data center power demand for its Nasdaq listing. Separately, Anthropic warned investors against using secondary platforms like Hiive and Forge Global to trade its shares, citing unauthorized access offers.