Private Equity 3d Briefing
×Infrastructure & Secondaries
GIC has emerged as the lead buyer for Meridiam's €2bn+ infrastructure portfolio, which includes 22 assets from legacy funds. Blackstone Strategic Partners is leading a $2bn evergreen continuation vehicle for Edge Connex, with room for expansion over time. OMERS pe-insights.com reported $8.2bn net income in 2025, though private equity lagged broader portfolio returns at 6%.
Saudi Arabia & Private Credit
Jada Fund of Funds pe-insights.com, a subsidiary of Saudi Arabia's Public Investment Fund, plans to expand its allocation to private credit as Stride targets $200m deployment in the kingdom. Qatar Investment Authority pe-insights.com has committed several hundred million dollars to 5C to expand private credit operations.
Fundraising & LP Activity
Ardian pe-insights.com has partnered with Legal & General to provide private equity access to 5.6m UK defined contribution savers. Evercore secondariesinvestor.com has appointed Adams Street Partners' executive as new APAC secondaries head following Shane Gong's departure. ECI Partners pehub.com welcomed Marijn Pangemanan as new investment director while appointing Scarlett Salamon as investor relations analyst.
Healthcare & Life Sciences
Frazier Healthcare-backed pehub.com Rev Spring acquired healthcare tech firm Trust Commerce from Waud Capital Partners. Victor Capital pehub.com backed Specialty Fenestration Group, parent company of Quikserv Inc. and Us Bullet Proofing. Kinderhook pehub.com will take home health and hospice firm Enhabit private for $1.1bn at $13.80 per share.
Technology & Software
Arcline pehub.com invested in Hydraulics International Inc, whose products serve US and allied defense forces globally. Haveli pehub.com backed software firm Sirion to accelerate product innovation and expand global go-to-market presence. Topspin pehub.com injected capital into Grid, a manufacturer partnering with fitness chains and athletic programs.
Defense & Industrial
Retired vice admiral William Hilarides pehub.com has found his calling backing defense industry through Ventus Industrial, aiming to help companies grow at rates matching Navy needs. Green Heron pehub.com invested in Regency Plumbing Contractors, whose executive team retains significant ownership.
Real Estate & Construction
Vistria pehub.com acquired insurance holding company Lumen Holdings, which underwrites commercial property and liability across 30+ states. Kava Equity pehub.com snapped up drywall contractor The Berg Group, led by CEO Jack Szmanda. Shamrock pehub.com acquired creative agency Mutiny from Trailer Park Group.
Education & Services
ASC-backed Campus Works merged with college consulting firm Dynamic Campus, a Sarasota-based provider of higher education services. Crestview-backed pehub.com One Magnify acquired Optimal's performance marketing business. L Squared pehub.com snapped up Functional Devices, with president Mark Fernandes and leadership team investing alongside.
Energy & Infrastructure
EQT-backed pehub.com Scale Microgrids scooped up Reload, a provider of advanced energy solutions. Bay Hawk pehub.com invested in Gridco, where the founding management team remains majority shareholders. GHK Capital pehub.com acquired architecture, engineering and consulting firm CPL, employing 500+ across 25 offices.
M&A Activity
Parex submitted a rival $500m cash bid for Catalyst-backed Frontera's Colombian upstream business. Turning Rock pehub.com exited food company Ameri Qual, majority owned by the Harlan family. Miura and Mindful Capital pehub.com agreed to sell Italcer to Austrian listed company Wienerberger.
Fund Performance & Strategy
Bain pe-insights.com reported global buyout deal value surged to $904bn in 2025 as "12 is the new 5" reshapes returns. 40% of GPs secondariesinvestor.com expect to consider continuation vehicles in the next two years, with over half citing LP capital return as primary motivation. Majority of CVs secondariesinvestor.com run by mid-market GPs in 2025 equal 50% or more of their latest flagship funds.
Portfolio Companies & Add-ons
Ambienta portco No Dig Alliance pehub.com bought Suomen Putkisto Palvelu, a specialist in manhole rehabilitation and underground water pipe services. Main Capital-backed pehub.com TMA picked up HR tech business STYR, marking its third add-on since December 2024 partnership. General Atlantic pehub.com will invest in Mexican Citigroup subsidiary Banamex alongside Blackstone and other investors.
Industry Events & Commentary
Thoma Bravo's Holden Spaht pehub.com and Anastasia Titarchuk of New York State's Common Retirement Fund spoke at PEI Group's NEXUS 2026 summit about AI disruption views. 26North's Josh Harris warned that mixing unaccredited investor capital with wealth capital via differently regulated vehicles could lead to industry backlash. PEI pehub.com tees off NEXUS 2026 conference while releasing new Commitment Issues podcast.
Exits & Public Markets
KKR pe-insights.com lined up a $1bn IPO exit for Global Medical Response, appointing banks for the potential US offering. KKR pe-insights.com outbid rivals to secure majority stake in $1.3bn XCL Education Holdings. Permira pehub.com held Evelyn Partners for an extended period, showcasing UK wealth management's M&A evolution before Nat West's £2.7bn acquisition.
Market Trends
Water infrastructure pehub.com is drawing increased private equity interest as firms tap into attractive market features. Broadband internet provider Vero Networks pehub.com racked up $500m from investors Hamilton Lane, Braemont Capital and Delta-v Capital. Bluestone Equity Partners pe-insights.com strengthened its sports portfolio with a three-year partnership with USA Archery ahead of 2028 Games.