Private Equity 3d Briefing
×Major Deals & Acquisitions
KKR pe-insights.com secured a majority stake in XCL Education Holdings for $1.3 billion, outbidding rival firms in the education sector deal. Vistria pehub.com acquired Lumen Holdings, an insurance holding company underwriting commercial property and liability across more than 30 states. Kinderhook pehub.com agreed to take home health and hospice firm Enhabit private for $1.1 billion at $13.80 per share in cash. Goldman Sachs-backed CSD pehub.com acquired autism services provider Behavior Change Institute, expanding its portfolio of evidence-based behavioral health services.
Portfolio Moves & Exits
Turning Rock pehub.com exited food company Ameri Qual, which is majority owned by the Harlan family. Frazier Healthcare-backed Rev Spring pehub.com acquired healthcare technology firm Trust Commerce from Waud Capital Partners. Lone View-backed Cargo Sprint pehub.com acquired Dray Dog, strengthening its position in cargo industry software. Green Heron pehub.com invested in Regency Plumbing Contractors, with the executive team retaining significant ownership.
Fundraising & Investment
Broadband internet provider Vero Networks pehub.com raised $500 million from investors including Hamilton Lane, Braemont Capital, and Delta-v Capital. Qatar Investment Authority pe-insights.com committed several hundred million dollars to 5C to expand its private credit operations. Haveli pehub.com backed software firm Sirion to accelerate product innovation and global market expansion.
Industry Trends & Market Analysis
Global buyout deal value pe-insights.com surged to $904 billion in 2025 as "12 is the new 5" reshapes returns expectations. Over 40% of GPs secondariesinvestor.com expect to consider continuation vehicles in the next two years, with 50% of mid-market CVs now equivalent to 50% or more of latest flagship funds. Europe pehub.com is drawing capital as dealmakers weigh US tariff uncertainty, with strategic interest increasing for UK wealth management assets like Evelyn Partners.
Regulatory & Structural Changes
Ardian pe-insights.com partnered with Legal & General to open private equity to 5.6 million UK defined contribution savers, marking a significant expansion of retail access. Evercore secondariesinvestor.com appointed Adams Street Partners' executive to lead its new APAC secondaries practice following Shane Gong's departure. ECI Partners pehub.com welcomed Marijn Pangemanan as investment director while appointing Scarlett Salamon as investor relations analyst.
Sector-Specific Developments
Bluestone Equity Partners pe-insights.com strengthened its sports portfolio with a three-year partnership with USA Archery ahead of the 2028 Games. GHK Capital pehub.com acquired architecture, engineering, and consulting firm CPL, which employs over 500 people across 25 offices in eight states. The Indian Premier League pe-insights.com has emerged as a serious private equity target, with global firms including KKR expressing interest in the cricket league's commercial potential.
Secondary Market Activity
Mid-market sponsors secondariesinvestor.com are increasingly turning to larger continuation vehicles to hold trophy assets and deliver liquidity to investors. CV-on-CV transactions are expected to become more prevalent as GPs seek to optimize portfolio company hold periods and returns. The secondary market continues to evolve with larger deals and more sophisticated structuring as uncertainty around tariffs and valuations persists.