Private Equity 24-Hour Briefing
×Last updated: May 18, 2026, 8:30 PM ET
Deal Activity & Platform Growth
Acquired MML Diagnostics pehub.com as Salt Creek closed its $200 million purchase of the medical‑device packaging specialist, while the firm elevated long‑time operator Geoffrey Pestes to chief executive, underscoring the buy‑and‑build strategy that has defined the fund’s recent health‑care thrust. In a parallel move, snapped up American Metals Supply pehub.com saw Wynnchurch‑backed EMS add the Florida‑based aluminum distributor to its portfolio, expanding the logistics platform’s reach into high‑margin specialty metals ahead of a projected 6% sector‑wide demand rise in 2026.
Fundraising & Capital Deployment
Launched €15bn private credit programme as Citi and HPS Investment Partners unveiled a new EMEA‑focused direct‑lending vehicle, targeting corporate and sponsor‑owned borrowers and aiming to capture the widening gap between bank funding and private‑credit demand. Meanwhile, won €5bn EU Scaleup fund highlighted EQT’s selection to manage the European Union’s deep‑tech vehicle, earmarked for quantum computing, artificial intelligence and other frontier technologies, reinforcing the bloc’s push to nurture home‑grown innovators and reduce reliance on US capital.
Strategic Exits & Valuation Adjustments
Exited Everlane at $100m illustrated L Catterton’s rapid reset of its direct‑to‑consumer portfolio, selling the apparel brand to Shein for roughly $100 million after a peak valuation of $1.5 billion, a stark reminder of the volatility in the low‑price‑point fashion segment. By contrast, secured $2bn exit for Gong Cha showed Bain Capital and General Atlantic positioning themselves as leading bidders for the bubble‑tea chain, with TA Associates eyeing a $2 billion liquidity event that could set a new benchmark for Asian consumer‑brand roll‑ups.
Energy & Infrastructure Financing
Anchored $13bn LNG project saw Kimmeridge, CPP Investments and Mubadala commit capital to Caturus’s Commonwealth LNG export facility, alongside a $9.75 billion financing package that pushes total project costs above $13 billion and signals sustained investor appetite for North American gas infrastructure despite a softening spot market. The transaction dovetails with closed $66.8bn Next Era‑Dominion deal, the year‑ending merger that reshapes U.S. power generation and reflects private‑capital firms’ willingness to back megadeals that promise synergies in renewable and conventional assets.
Technology & AI Investments
Backed Dust with $40m sifted.eu as Sequoia poured capital into the AI‑agents scale‑up, accelerating product rollout in enterprise workflow automation and positioning the startup for a potential Series C amid rising demand for generative‑AI tools. At the same time, sold WinWire to NTT Data pehub.com demonstrated Sverica’s exit strategy for its 2021 investment in the agentic AI specialist, delivering a strategic fit for the Japanese system integrator’s push into AI‑enabled services for enterprise customers.
Secondary Market & Liquidity Trends
Highlighted pay lag in secondaries secondariesinvestor.com revealed that compensation for secondary‑distribution talent averaged $739 k in 2025, trailing the broader alternatives median of $800 k, a gap that may intensify as firms scramble for scarce deal flow and talent in a tightening fundraising environment. Complementing this, outlined Blue Owl’s liquidity playbook privateequityinternational.com disclosed the GP‑stakes manager’s emphasis on secondary sales and structured credit to meet redemption pressures, illustrating how large‑cap private‑equity vehicles are adapting balance‑sheet tactics to preserve investor confidence.