Private Equity 24 Hours

Last updated: June 16, 2026, 8:32 AM ET

Deal Activity & Portfolio Exits

Private equity deal flow remained robust across multiple sectors as firms pursued both strategic acquisitions and exits. Renovus-backed xFact acquired government technology firm Stonewall, expanding its footprint in public sector digital transformation solutions. In healthcare, H.I.G. Capital sold CRO Celerion to THL Partners funds for $1.8 billion, while Advent-backed Nuvei completed a $2.75 billion take-private acquisition of Payoneer, the New York-based global payments business. Altor, Strawberry and TDR Capital agreed to exit Nordic Leisure Travel Group for $846 million, divesting brands including Ving, Spies and Tjäreborg along with 26 concept hotels across Spain and Greece. Meanwhile, Morgan Stanley closed its exit of Brazos Delaware II at a $1.6 billion valuation, representing an 8x EBITDA multiple based on projected 2027 earnings.

Platform Expansion & Add-On Acquisitions

Several buyout firms continued building their portfolio platforms through bolt-on acquisitions. Littlejohn-backed Ardurra acquired engineering firm Kelly Engineers, strengthening its recent expansion into the Northeast market. Alantra Private Equity added two dental laboratories to its AIVORIQ platform in Spain, which now comprises more than 20 laboratories generating nearly €40 million in revenues. Lead Edge Capital acquired electric components procurement platform Elektrik, joining other private equity firms investing in data center infrastructure support businesses. These follow-on acquisitions demonstrate continued emphasis on operational scaling within existing portfolio companies.

Capital Raising & Financing Markets

Large-cap financing activity dominated headlines as banks competed for major mandates. EQT's potential take-private of British product-testing group Intertek attracted approximately £5 billion ($6.7 in competing bank financing proposals, signaling strong appetite for leveraged transactions in European industrials. Blackstone's Ancestry unit is evaluating a $2.25 billion loan to refinance existing debt, with Bank of America leading the effort. On the fundraising front, Abry Partners closed an oversubscribed $780 million continuation vehicle for Centauri Health Solutions, allowing the Boston firm to retain one of its strongest healthcare assets. Argosy doubled its fund size with a $145 million raise for its small-deal-focused secondaries strategy targeting investments between $100,000 and $10 million.

Strategic Shifts & Investor Appointments

Major institutional investors reshaped their approaches amid evolving market conditions. Jardine Matheson initiated a $500 million buyback while pivoting toward a private equity investment model, transforming the 194-year-old Hong Kong conglomerate into an active investor structure. CalPERS appointed Anton Orlich to oversee its $250 billion alternatives portfolio, tasking him with managing private credit, real estate, infrastructure and other alternative programs alongside his existing private equity responsibilities. Carlyle's global PE head John Redett highlighted significant improvements in the firm's U.S. operations, suggesting renewed momentum in core buyout markets.

Technology & Healthcare Focus

Healthcare and technology investments showed particular strength as investors sought scale in defensive sectors. Prime Radiant Partners made its inaugural $50 million growth equity investment in Cellares, marking the advisory firm's entry into healthcare and life sciences. Cleargate Capital invested in health tech firm Fellow Health Partners, which supports over 500 clinicians across approximately 50 healthcare organizations nationwide. Cathay Capital acquired a majority stake in product data Saa S firm Equadis, which serves more than 600 customers including Procter & Gamble, Unilever and Nestlé. L Catterton entered exclusive talks to take a stake in extreme fitness brand Hyrox, the LVMH-backed firm pursuing high-growth consumer opportunities.

Secondary Market Developments

Secondary market activity reflected evolving liquidity preferences among institutional investors. Abry's $780 million continuation fund for Centauri Health Solutions demonstrated continued demand for GP-led restructurings, particularly in healthcare assets with strong performance metrics. The oversubscription highlights investor appetite for familiar assets with proven track records, as traditional limited partners seek ways to maintain exposure while meeting liquidity needs. Argosy's fund doubling with a $145 million raise also signals growing interest in smaller-ticket secondary opportunities, contrasting with the mega-fund trend that has dominated recent fundraising cycles.

Activist & Corporate Governance

Activist investor Elliott Investment Management built a near-5% stake in Bunzl and is pressing the distribution company to launch significant buybacks while reviewing its corporate structure. This intervention follows a pattern of activist engagement targeting cash-generative businesses with potential for capital optimization. The move underscores ongoing tension between public market valuation discipline and private equity-style operational improvement, as activists increasingly adopt buyout firm tactics to unlock shareholder value.