Private Equity 24 Hours

Last updated: May 13, 2026, 2:30 AM ET

Dealmaking Momentum & Portfolio Activity

Global private equity deal flow showed a bifurcation in the first quarter, with transaction volume decreasing while overall value rose considerably, suggesting larger, more strategic acquisitions are dominating the lower volume environment. In Europe, the trend of consolidation continues across specific sectors, as seen by Altaline and Haven unveiling the Ascend Safety Collective, integrating prior expertise from Kings III Emergency and ATIS leaders onto the new board. Elsewhere, add-on activity persisted, with E2p-backed Roskam Foods acquiring food manufacturer Kitchen Partners, broadening its portfolio of frozen breakfast foods and custom ingredients, while a Branford Castle portfolio company snapped up scientific instrumentation maker Sutter Instrument.

The healthcare and environmental services sectors saw targeted acquisitions, demonstrating a focus on essential infrastructure. Apollo acquired Noble Environmental, a provider of solid waste collection and disposal services for municipalities, while Health Scape Advisors, a Chartis subsidiary, purchased independent pharmacy PayerAlly, aiming to deepen its payer advisory capabilities. Further consolidation occurred in the testing and services space, where Bridgepoint-backed NMi Group moved to acquire Berlin-based environmental testing laboratory TechnoLab. Furthermore, Graycliff completed the purchase of Tramont Manufacturing, with Tramont's executive chairman retaining a meaningful ownership stake post-closing.

In the technology and software space, TA Associates backed Govineer Solutions, marking a full exit for Peterson Partners while management retained equity. Simultaneously, Verdane is set to acquire a stake in Telenor Connexion, the Internet of Things unit of the major telecommunications firm. On the exit front, Gen Nx360 realized an exit from Precision Aviation Group, selling it to VSE for over $2bn. In real estate, KKR successfully exited its 213-unit Danish residential portfolio, selling the assets to Pears Global Real Estate Denmark after acquiring them in 2021 through the KKR Real Estate Partners Europe II fund.

Fundraising, Capital Deployment & Investor Relations

Sovereign wealth and institutional capital are deepening existing relationships, with the Qatar Investment Authority committing an additional $500m to General Atlantic's global growth equity strategies, significantly expanding their partnership. Fund managers are also actively raising capital, as *Kevin Hartz’s A closed its third generalist fund at $450M**, anticipating average check sizes between $3 million for investments across AI, fintech, and healthcare. On the fundraising front in Europe, PSG is targeting a €3.4bn first-half final close for its third regional software fund.

Meanwhile, wealth channel distribution for private market strategies is expanding, with Ardian and iCapital broadening access to Ardian Access SICAV evergreen strategies through major custodians like Allfunds and Euroclear. However, the secondaries market faces headwinds; participants urge caution around evergreen marketing due to market uncertainty, and experts note that software secondaries are becoming harder to finalize, particularly for assets that may be rendered obsolete by AI innovation. In terms of personnel moves, Pantheon recruited Leif Lindbäck from CVC to spearhead its push into GP-led secondaries, while Mako appointed Vanessa Gabela as its new partner and head of investor relations to lead capital formation efforts.

Sector Focus: AI, Tech, and Geographic Expansion

European private equity continues to chase high-growth technology and AI scaleups, although a looming commercial talent crunch threatens quantum startups, suggesting hiring constraints may impact valuations. Across the continent, venture funding allocated to AI-driven companies is increasing in 2026, including capital directed toward three new frontier model developers. This talent focus is reflected internally, as European YC startups are preparing for Series A fundraising rounds, indicating a near-term deployment opportunity for growth equity. Compounding AI’s influence, Deep Mind spinout Isomorphic Labs successfully raised $2. 1bn.

In Japan, EQT has launched a tender offer to take Kakaku.com private at JPY 3,000 per share, utilizing its BPEA Private Equity Fund IX vehicle. In the U.S., Goldman Sachs Alternatives acquired commercial finance firm FGI, immediately installing FGI's co-founder as the new CEO. In Italy, Green Arrow Capital completed its acquisition of DeA Capital, creating the nation’s largest alternative investment manager with €8bn in assets under management. Furthermore, Advent has filed for the Nasdaq IPO of INNIO Group, positioning the data center power demand specialist for a public market exit.

Market Intelligence & Conference Circuit

The industry is preparing for several key regional gatherings, with Switzerland's largest private equity conference returning to Zurich this June and CEE's largest conference scheduled for Warsaw in May. Regulatory clarity may soon aid deal flow, as a draft European merger guideline is viewed as a 'broad positive' for deal execution. Meanwhile, Anthropic issued a warning to investors against using secondary platforms for trading its shares, stating any such transfers will be voided on its internal records. Investment firms are also seeking operational talent, with Shore Capital appointing Aurelio Banda as executive operating partner to drive its industrial automation distributor platform strategy.