Private Equity 24 Hours

Last updated: June 5, 2026, 2:32 AM ET

Private Equity Briefing: June 18-19, 2024

Fundraising & Firm Updates

European private equity firm Ardian has raised €1.5bn for its Buyout VIII fund, representing one-third of its €5bn target following a team restructure. Meanwhile, the latest PEI 300 ranking reveals broader industry trends as top fundraisers navigate an increasingly competitive landscape. The private credit market continues to face challenges as Blackstone capped redemptions at just 5% for its Blackstone Private Credit Fund despite withdrawal requests reaching 10%, while LP demands are reshaping SPV structures across the industry.

Secondaries Market Evolution

The secondaries market is undergoing a significant transformation as LPs fine-tune their strategies, moving beyond traditional problem-solving approaches to using secondaries as strategic tools for navigating liquidity constraints and portfolio complexity. This evolution coincides with growing LP skepticism around LP-led secondaries, while UK's Railpen actively seeks syndicate Co-Investment positions to strengthen relationships with both new and existing general partners. market participants project secondaries volume could reach $1trn within the next decade, driven by higher interest rates and an improving exit environment.

AI & Technology Revolution in Private Equity

Artificial intelligence dominated discussions at private equity events this week, with AI's impact on deal sourcing taking center stage at PEI Group's Women in Private Markets Summit. Industry leaders from Raymond James, Brookfield, and Hamilton Lane explored AI applications across the private equity value chain, from sourcing to exits. On the investment front, Brookfield Asset Management is mobilizing $50bn across its infrastructure platform to capitalize on the artificial intelligence build-out. Meanwhile, Kirkland & Ellis has teamed up with Palantir to develop AI technology specifically for its private equity fundraising practice, signaling the increasing integration of AI into core PE operations.

M&A & Deal Activity

Private equity firms continued to pursue strategic acquisitions across various sectors. EIP-backed Guardian has acquired E2 Consulting Engineers, expanding its utility-focused infrastructure services platform. In healthcare, HPS is taking majority control of Discovery Behavioral Health, which specializes in mental health and substance abuse treatment. The sports and entertainment sector saw significant activity as Brand Velocity Group acquired RCX Sports, a youth sports platform, with backing from Hamilton Lane's impact platform and athlete partners including Eli Manning. This transaction follows Wynnchurch's $1.4bn exit of a portfolio company, highlighting continued strong exit markets. Elsewhere, AE Industrial-backed ATC Group snapped up Aero Controls, an aerospace engineering firm, while Trans Alta agreed to purchase two Blackstone-backed gas plants for $1bn.

European Private Equity Landscape

European private equity activity continues to evolve with notable developments across the region. Baldertone has launched a "Built in Europe" campaign aimed at shifting perceptions of the European tech ecosystem, while also highlighting 38 admired European startups outside its portfolio. The EU's new Sovereignty Package is reshaping the tech landscape, with implications for how private equity approaches technology investments in Europe. In Eastern Europe, INVL Asset Management has partnered with the European Commission to establish a private equity fund in Moldova, capitalizing on the country's EU accession progress. Additionally, KPMG's Tilman Ost emphasized the importance of the five-plus-five asset cycle in the age of AI, while noting heightened scrutiny on tech-adjacent deals coming to Europe.

Credit & Liquidity Challenges

The private credit market continues to face liquidity pressures beyond Blackstone's redemption caps. Industry observers note that credit's redemption storm has "made landfall" in private equity, creating challenges for fund managers navigating investor redemptions while maintaining portfolio stability.

Startup & Venture Activity

Revolut, the digital banking giant, announced founder steps back while simultaneously launching five credit cards in the UK, signaling continued expansion despite leadership changes. In venture funding, active investors maintained their pace in May, with familiar names dominating