Private Equity 24 Hours

Last updated: May 13, 2026, 11:30 PM ET

Private Equity Exits & Public Offerings

The public markets saw a mixed bag of private equity-backed listings as KKR-backed Global Medical Response priced its New York IPO at $3.3bn, raising $479M but coming in well below initial price targets. Elsewhere, emergency medical service provider GMR went public following its private equity backing, while AI chip designer Cerebras Systems is preparing its Nasdaq debut after years of private fundraising. In structured exits, American Securities sold processing equipment firm CPM to Rosebank for $2.1bn, marking the culmination of a 2018 investment, and Argosy completed its exit from InTech Aerospace following its acquisition by CCE Group.

Mega-Fund Activity & Strategic Partnerships

Major general partners are actively preparing for future deployment, with Blackstone commencing groundwork for the third vintage of its long-dated private equity strategy, signaling continued commitment to long-hold buyouts. Simultaneously, major players are aligning on emerging sectors: TPG, Advent, Bain Capital, and Brookfield are reportedly teaming up with OpenAI, while EQT secured backing from the Qatar Investment Authority and Porsche SE to pursue the €8bn acquisition of Volkswagen’s marine engine business, Everllence. Further afield, Ardian arranged a unitranche financing package to support IK Partners' leveraged buyout of French wealth manager Rhétorès Group.

Sector-Specific Investment Trends

Investment activity remains concentrated in specialized technology and services, though some areas face headwinds. Defense technology saw a massive influx, with Anduril Industries raising $5bn at a $61bn valuation, doubling its previous mark amid record defense-tech funding. In contrast, venture funding for Agtech startups is projected to be flat or slightly lower this year, with deal counts declining more sharply, even for AI-enabled firms. Mid-market firms continued to deploy capital across niches: Eir Partners backed life science tech firm Quartz Bio, Main Capital invested in insurtech provider Agenium, and Gallant Capital backed food labeling manufacturer NCCO, which serves operators across North America and Europe.

Consultancy Moves & Secondary Markets

The advisory and secondaries space is seeing significant consolidation and growth ambitions. Following the announced acquisition of Campbell Lutyens, future co-CEOs of Lazard and Campbell Lutyens discussed the expected integration as a step up on long-term growth plans. Meanwhile, Cambridge Associates is anticipating fast growth in its Asian client base, driving interest in credit secondaries and specialty lending. In the sports vertical, William Blair is expanding its advisory capabilities through the acquisition of Inner Circle Sports, leveraging their expertise in sports franchise valuations, building on earlier reports of William Blair's broader strategy.

European Mid-Market & Growth Capital

European private equity is showing appetite for expansion through bolt-on acquisitions and new fundraises. Axcel-backed AGRD Partners grew its Nordic legal network by picking up Iceland’s BBA Fjeldco, while Mutares sold its Polish public transport operator Relobus to Infracapital. On the fundraising front, Oslo-headquartered Verdane is targeting €1.6bn for its Europe-focused Edda IV fund, more than double the target for its predecessor. Furthermore, Quad-C Management invested in furniture and wallcovering designer Thibaut, whose products are sold under multiple established brands.

AI, Litigation, and Talent Dynamics

The high-stakes world of generative AI continues to draw capital and controversy. While European leaders are converging on Luxembourg events to discuss the AI boom, concerns over intellectual property persist, as evidenced by a fresh lawsuit filed against voice synthesis firm ElevenLabs concerning the use of journalists' voices. In staffing, physician-founded Saile secured $2.2M in pre-seed funding to build an AI-powered platform for credentialing and side-job placement for doctors. Separately, Accel and Founders Fund backed AI firm Fractile in a $220M raise, demonstrating continued appetite for frontier tech despite overall funding cooling in areas like Agtech.