Private Equity 24 Hours

Last updated: May 13, 2026, 5:30 PM ET

Public Market Exits & Listings

The pipeline for private equity exits saw mixed results as KKR-backed Global Medical Response successfully listed on the NYSE, though it priced its initial public offering well below the initial range to raise $479M in a scaled-back debut, valuing the emergency medical services provider at $3.3bn. Conversely, PE-backed GMR, another provider of emergency medical services based in Lewisville, Texas, achieved its own public offering validation. Meanwhile, American Securities finalized the divestiture of its processing equipment provider, CPM, selling the asset to Rosebank for a reported $2.1bn, marking the culmination of the 2018 investment. Exits were also seen in the aerospace sector, where Argosy completed its exit from InTech Aerospace following its acquisition by CCE Group.

Mega-Rounds and Sector Valuations

The appetite for highly valued, emerging technology companies remains intense, exemplified by defense technology startup Anduril Industries which secured $5bn in new capital, doubling its valuation to $61bn amidst record venture funding flowing into defense tech. This contrasts with the climate for early-stage agriculture companies, where Agtech startups face a drier funding climate, with venture funding expected to remain flat or slightly lower than previous years, and deal counts showing a more significant decline. In the AI space, OpenAI-backed Anthropic is reportedly engaging investors for a massive capital injection of at least $30bn, which would push its valuation above $900bn, signaling a significant premium being placed on large language model developers.

Buyout Activity and Sector Focus

Large-cap buyout activity continues across diverse sectors; Apollo-managed funds have agreed to acquire Emerald Holding and Questex in separate deals, planning to merge the two B2B events businesses in a transaction valued around $1.5bn. In Europe, EQT secured backing from the Qatar Investment Authority and Porsche Automobil Holding to pursue the acquisition of Volkswagen’s marine engine unit, Everllence, which is valued near €8bn. Furthermore, Blackstone is reportedly preparing for the third vintage of its long-dated private equity strategy, signaling continued commitment to long-hold buyouts, while Mubadala’s Zouhir Regragui noted that insulation from AI disruption is a top priority when selecting entrenched market leaders.

Middle-Market & Thematic Investments

The middle-market segment displayed active deployment across specialized services and tech. Eir Partners backed Quartz Bio, a firm supplying sample and biomarker intelligence to clinical-stage biopharma, while Main Capital invested in insurtech provider Agenium, which supplies a cloud-based, no-code platform for insurance carriers. In the Nordics, Axcel-backed AGRD Partners expanded its legal services platform by acquiring Iceland’s BBA Fjeldco, adding to its portfolio of Nordic law firms. Concurrently, Stone-Goff invested in real estate technology firm 5Q Partners, which also announced the bolt-on acquisition of professional services firm One11 Advisors.

Credit, Secondaries, and Advisory Moves

The infrastructure supporting private markets is undergoing consolidation. Lazard’s agreed acquisition of Campbell Lutyens is positioned as an immediate step up on long-term growth plans, with future co-CEOs outlining the integration strategy for the advisory firms. In the credit space, Cambridge Associates is observing fast growth among its wealthy Asian client base, driving increased allocations toward private credit, particularly in credit secondaries and specialty lending. On the debt side of transactions, Ardian arranged a unitranche financing package to support IK Partners' leveraged buyout of French wealth manager Rhétorès Group. The sports advisory sector saw consolidation as William Blair acquired Inner Circle Sports to bolster its expertise in valuations surrounding sports franchises, while Blackstone hosted its Nonprofit Leadership Forum.

Fundraising and Conference Activity

Fundraising efforts are seeing firms targeting larger mandates, like Oslo-headquartered Verdane, which is seeking €1.6bn for its Europe-focused Edda IV fund, more than double the size of its predecessor. Meanwhile, investment consultants debate fundless sponsors, and Brookfield anticipates substantial inflows. Industry gatherings are gearing up, with major regional conferences scheduled, including the DACH's Largest Private Equity Conference returning to Munich this September and the Benelux equivalent convening in Amsterdam the same month, reflecting the continued need for physical deal-making forums despite digital advances.