Private Equity 24 Hours

Last updated: May 13, 2026, 8:30 PM ET

Public Market Exits & Listings

The flow of private equity-backed companies into public markets saw mixed results as KKR-backed Global Medical Response managed a New York listing, raising $479M but pricing its initial public offering well below the initial guidance range. In contrast, AI chip designer Cerebras Systems is finally moving toward a Nasdaq debut after years of private fundraising, while the performance of other recently listed portfolio companies remains under scrutiny. Separately, American Securities finalized the divestiture of processing equipment provider CPM to Rosebank in a transaction valued at $2.1bn, marking a successful exit executed seven years after its initial investment.

Mega-Deals and Sponsor Activity

Large-cap general partners are actively pursuing sector consolidation and scale, evidenced by Apollo agreeing to acquire Emerald Holding and Questex via separate transactions with the intent to merge the two B2B events businesses in a deal valued around $1.5bn. Elsewhere, EQT is aggressively pursuing Volkswagen’s marine engine unit, Everllence, valued near €8bn, securing backing from the Qatar Investment Authority and Porsche Automobil Holding to bolster its bid. Meanwhile, in the credit space, Blackstone is reportedly preparing its third vintage fund dedicated to its long-dated private equity strategy, signaling continued commitment to extended hold periods.

Strategic Acquisitions and Sector Investments

Sponsors continued to deploy capital across niche technology and essential services sectors. HIG Capital-backed Avanta Salud announced plans to acquire Iberian occupational health provider Vitaly Group, expanding its footprint in specialized healthcare services. In the Nordic legal sector, Axcel-backed AGRD Partners acquired Iceland’s BBA Fjeldco, consolidating various business law firms across the region under one banner. Further afield, Quad-C Management invested in furniture and wallcovering designer Thibaut, whose products are sold under legacy brands like Anna French and Coraggio, while Gallant Capital backed food labeling manufacturer NCCO, which services operators across North America and Europe.

Venture Capital Strength and AI Focus

Venture funding remains exceptionally strong in specific technological verticals, despite broader headwinds, as defense technology startups shatter previous records. Anduril Industries secured $5bn in new capital, boosting its valuation to $61bn—a doubling since its last round—as defense tech attracts massive private inflows. In the generative AI sphere, Anthropic is reportedly engaging investors for a colossal capital raise targeting at least $30bn at a valuation exceeding $900bn. Conversely, even AI-driven companies in other areas, such as agriculture technology, are facing a drier funding climate, with deal counts expected to decline more sharply than overall capital deployment this year.

Advisor & Consultancy Moves

The advisory and secondaries markets are demonstrating consolidation as major players seek to capture evolving client needs. Lazard’s pending acquisition of Campbell Lutyens signals a strategic move to integrate advisory services with fund placement expertise, with future co-CEOs outlining integration plans. In a similar vein, William Blair has moved to acquire Inner Circle Sports, aiming to inject specialized expertise in sports franchise valuations into its platform amid an active M&A environment. Concurrently, consultancy Cambridge Associates is observing rapid growth among its Asian client base, leading it to sharpen focus on credit secondaries and specialty lending allocations as private credit demand rises.

Debt Financing and Litigation

Private debt markets are facilitating high-profile buyouts, with Ardian arranging a unitranche financing package to support IK Partners’ leveraged buyout of French wealth advisor Rhétorès Group. Meanwhile, the AI sector faces increasing legal scrutiny; voice synthesis firm ElevenLabs is currently subject to a fresh lawsuit concerning the use of voices belonging to Pulitzer and Emmy-winning journalists. In other private markets news, Verdane is returning to the market with its Edda IV fund, targeting €1.6bn for its lower mid-market strategy, more than double the target of its predecessor fund.