Private Equity 3d Briefing
×Deal Activity & Sector Moves
KKR pe-insights.com is exploring a potential $1.5 billion sale of its AI-driven IT service BMC Helix, testing the software market's appetite. Kinderhook Industries pehub.com agreed to take home health and hospice provider Enhabit private for $1.1 billion, offering $13.80 per share. Vistria pehub.com acquired insurance holding company Lumen Holdings, which underwrites policies across more than 30 states. Frazier Healthcare-backed pehub.com Rev Spring acquired healthcare technology firm Trust Commerce from Waud Capital Partners. Goldman Sachs-backed pehub.com CSD, a provider of autism services, acquired Behavior Change Institute. Haveli pehub.com invested in software firm Sirion to accelerate product innovation. GHK Capital pehub.com acquired architecture and engineering firm CPL, which has over 500 employees. Green Heron pehub.com invested in Regency Plumbing Contractors, with the executive team retaining a significant stake. L Squared pehub.com acquired Functional Devices, with the existing leadership team investing alongside the firm.
Buyout Build-outs & Consolidation
Crestview-backed pehub.com One Magnify, an AI-enabled marketing solutions provider, acquired Optimal’s performance marketing business. EQT-backed pehub.com Scale Microgrids, an advanced energy solutions provider, acquired Reload. Turning Rock pehub.com exited food company Ameri Qual, which remains majority-owned by the Harlan family. Bluestone Equity Partners pe-insights.com strengthened its sports portfolio with a three-year partnership with USA Archery ahead of the 2028 Games. Broadband provider pehub.com Vero Networks raised $500 million from an investor group led by Hamilton Lane, Braemont Capital and Delta-v Capital.
Secondaries & Fund Strategy
A new Bain pe-insights.com report revealed global buyout deal value surged to $904 billion in 2025, with the firm noting that “12 is the new 5” in reshaping returns. Lazard secondariesinvestor.com reported that a majority of flagship funds run by mid-market GPs in 2025 were equivalent to 50% or more of their latest fund, as sponsors use larger continuation vehicles to hold assets. According to another Bain study secondariesinvestor.com, 40% of GPs expect to consider a continuation vehicle in the next two years, primarily to return capital to existing LPs. Evercore secondariesinvestor.com appointed Adams Street Partners veteran to lead its APAC secondaries practice following a leadership departure.
Investor Access & Capital Raises
Ardian pe-insights.com partnered with Legal & General to open private equity to 5.6 million UK defined contribution savers. Qatar Investment Authority pe-insights.com committed several hundred million dollars to 5C to expand its private credit capabilities. PEI Group pehub.com launched its NEXUS 2026 conference and a new podcast, with industry commentary suggesting recovery is gaining traction as GPs deploy capital and speed distributions.
AI & Industry Outlook
At the NEXUS 2026 summit, Thoma Bravo pehub.com partner Holden Spaht and New York Life’s Anastasia Titarchuk discussed how GPs and LPs are viewing AI disruption. The industry’s perspective is evolving as firms assess both investment opportunities and operational integration risks.
Large-Card Exits & Asset Sales
Permira pehub.com and Warburg Pincus sold UK wealth manager Evelyn Partners to Nat West for £2.7 billion, a hold that Permira’s pehub.com long duration showcases the evolution of UK wealth management M&A. Separately, private equity firms are eyeing a potential $2 billion sale of Conoco Phillips' pe-insights.com Permian Basin assets as the major streamlines its portfolio.