Private Equity 24 Hours

Last updated: May 26, 2026, 5:30 PM ET

Deals & Exits

Private equity dealmaking continued at a brisk pace as Ardian appointed Mark Benedetti as co-CEO, signaling continuity after 20 years at the firm, while EQT moved to take majority control of a merged EV charging platform combining Voltera and Revel Transit, with BlackRock's GIP retaining a stake. Across the sector, Permira agreed to an A$3.4bn exit from I-MED Radiology and Bowmark and Bridgepoint sold Helio Intelligence to ECI for an undisclosed sum, though Oakley opted to buy a stake in XTEL from Bain and Silver Tree rather than exit entirely. Greenbriar Equity Group is preparing to list Applied Aerospace & Defense on the NYSE at a valuation of up to $3.59bn, while Apollo Global Management made a $2.02bn approach for Bodycote, the London-listed heat treatment specialist. In smaller transactions, New Mountain-backed Swoop acquired prescription management platform Nimble, and CIG sold its Bach to Rock music school franchise to Spark Harbor. Wise Equity invested in snowboarding brand Capita-Union Group's holding company Core, and Bregal Sagemount backed health tech firm LSPedia to accelerate its global growth. On the capital raise side, Stord, an Amazon fulfillment competitor, raised $250M at a $3B valuation, and General Catalyst led a $20m Series A round into YC alum Lucis.

Fund Activity & Capital Deployment

CPP Investments ended fiscal 2026 with net assets of C$793.3bn, up from C$714.4bn the prior year, with private equity accounting for 22% of the portfolio, though returns have slumped as software and currency headwinds drag on performance. PGIM deployed roughly $4bn into US residential land-banking transactions through a partnership with Domain Real Estate Partners, part of a broader asset-based lending push. JPMorgan is in talks to offload risk on more than $4bn of NAV loans to private equity funds, reflecting ongoing pressure on banks to manage leverage exposure. Eurazeo secured more than €1bn at the first close of its fifth mid-market buyout vintage, PME V, matching the final size of its predecessor in a single tranche. Seine Capital, founded by Fabrice Moyne, closed its debut fund above target by 20%, and EQT won a mandate to manage the EU's €5bn Scaleup Europe deep-tech fund.

Wealth Management & Healthcare

The wealth management sector drew continued investor interest, with Houlihan Lokey's James Anderson calling the space robust despite macro uncertainty, citing sticky client relationships and high retention. PE investments in wealth management advisory firms have accelerated, with Carlyle, JC Flowers and HGGC among notable buyers. Bow River invested in advisor SBI, while Arsenal acquired specialty hook provider Velco with the Cripps Foundation remaining as a significant minority shareholder and Arsenal tapped Bradley Brown as a new investment partner focused on industrial technology. A merger between GHO and CBC will create the world's largest healthcare private equity investor, linking East and West deal flow.

AI, Seed Funding & Market Structure

Apollo's approach for Bodycote underscores the squeeze on viable exit routes for mid-sized firms, as the IPO threshold has steadily risen. Seed rounds are ballooning to $8mn-$10mn deals once associated with later stages, yet the path to Series A has grown dramatically harder. Moneybox is racing to offer AI-powered financial advice pending regulator approval, and AI's role in redefining management is reshaping how portfolio companies operate. The AI market feels incredibly acquisitive, prompting questions about how investors should evaluate targets. Meanwhile, panelists from Nest Pensions, Cambridge Associates and Malaysia's KWAP said resiliency, repeatability and transparency have become critical as macro shocks intensify, and Cinven's Sam Williams and KPMG's Paul Pan outlined evolving strategies for driving long-term growth across portfolios.