Private Equity 3d Briefing
×Fundraising & Exits
HGGC pe-insights.com raised $3.2 billion for its fifth flagship fund, surpassing both its $3 billion target and previous fund performance. Moonfare pe-insights.com closed Moonfare Co-Investment Fund II at $83 million, exceeding its target within 12 months. Tikehau Capital pe-insights.com secured more than $1 billion for its second private debt secondaries fund, closing above target.
Blackstone pehub.com and other firms have paused IPO plans amid market volatility, with investor concerns about AI disruption and stock market sell-offs affecting sectors including software and logistics. CVC Capital Partners pe-insights.com is working with Goldman Sachs to explore a sale of marina operator D-Marin at approximately $1.08 billion.
Johnson & Johnson pe-insights.com is preparing a potential sale of its orthopedics unit De Puy Synthes, with private equity firms circling the $20 billion-plus deal. Bain Capital pe-insights.com is considering a sale or IPO of its portfolio company Dessert Holdings in a dual-track process potentially valued at over $3 billion.
Deal Activity
Mid Europa pehub.com and SK Capital Partners are among private equity firms investing in medical component manufacturing, with five recent deals in the sector. Lone View-backed Cargo Sprint pehub.com acquired Dray Dog, a provider of software for the cargo industry based in Atlanta.
Peak Rock Capital pehub.com will acquire UL Solutions' employee health and safety software business, while Hg-backed Cube pehub.com picked up regulatory tech firm 4CRisk. Renovus-backed Angeion pehub.com acquired legal services firm Med Quest, and HKW pehub.com acquired Handling Systems and Conveyors Inc, which serves aerospace, defense, and industrial manufacturing markets.
Ocean Sound Partners pehub.com picked up fintech firm Automated Financial Systems, appointing Edward Jenkins as CEO in conjunction with the deal. Hidden River-backed Somersault pehub.com acquired six California Little Gym locations, becoming the largest franchisee within The Little Gym system.
West View Investment Partners pehub.com invested in benefits administration platform Benefits All In, with partner Kevin Twomey joining the board. Amberjack pehub.com acquired waste management firm Cima Services, which supports complex projects across the Gulf Coast.
Sector Focus
Private equity firms are increasingly active in medical component manufacturing, with Avista, Mid Europa, SK Capital, and Sheridan Capital making investments. The residential services segment has also attracted attention, with Blackstone leaning on Champions Group.
Space technology has emerged as a top target for investors seeking dual-use growth, according to Houlihan Lokey. Stone Point Capital pehub.com invested in UK wealth management advice firm Amber River, while Ares Management pe-insights.com is preparing to expand its sports investment strategy into Europe with a new fund.
Secondary Markets
Blue Owl Capital pe-insights.com sold a $1.4 billion portfolio of private loans to pensions and insurers to manage redemptions. The secondary market continues to evolve, with discussions around market capitalization in 2026 and beyond at PEI Group's Nexus 2026 event.
Preqin founder Mark O'Hare pe-insights.com built a $200 million stake in Hg vehicle through his family office, accumulating a 7.2% stake in Hg Capital Trust. Singapore-based single-family office Plutus Partners secondariesinvestor.com is open to secondaries opportunities across private real estate, debt, and equity.
Leonard Green & Partners pehub.com will take Mister Car Wash private for $7 per share, having made its initial investment in 2014 and currently owning 67% of the company's outstanding shares.
Credit & Lending
Apollo-backed ATLAS SP Partners pe-insights.com extended a $250 million, two-year credit facility to expand SME financing. Bank of America pe-insights.com committed $25 billion of its own capital to private credit expansion.
Ares Management pe-insights.com priced its second European direct lending CLO, a €303.95 million-equivalent transaction valued at approximately $358 million. The European private credit CLO market is taking shape as firms seek yield in the current environment.
Portfolio Moves
Eurazeo pehub.com completed its exit of a minority stake in luxury fragrance house Ex Nihilo to L Catterton. Palladium Equity-backed SES pehub.com acquired chemical cleaning services firm Chem Worx, while Platinum Equity-backed SES pehub.com made a similar acquisition.
Bregal Sagemount invested in Harbor Compliance, appointing Chad Nuss as CEO and board member in conjunction with the transaction. Oaktree-backed Scale Computing pehub.com acquired Adaptiv Networks, a provider of edge computing and network solutions.
People & Promotions
Morgan Stanley secondariesinvestor.com saw its PCA chief depart the bank, with a replacement for the global head of the PCA group yet to be named. FTV Capital pehub.com promoted Adam Hallquist to partner, where he will lead investments for FTV Ascend with a focus on vertical software, payments, and financial technology.
Market Outlook
Japanese venture capital firms face DPI hurdles under new listing rules, with the Tokyo Stock Exchange increasing minimum market capitalization for companies listed in its Growth Market section to ¥10 billion by 2030. This could have knock-on implications for secondaries activity.
Structural challenges loom over European defense deals, with space tech emerging as a key target for investors seeking dual-use growth opportunities. The market continues to navigate valuation pressures and exit challenges in the current environment.