Private Equity 3d Briefing
×Market Activity & Deal Flow
Global private equity dealmaking pe-insights.com surged to $904 billion in 2025 as firms accelerate activity despite valuation concerns. KKR pe-insights.com outbid rivals to secure a majority stake in XCL Education Holdings for $1.3 billion, while Bain Capital pe-insights.com and Lone Star Funds advanced in the $1.9 billion bid race for Mitsubishi Electric's auto unit. KKR pe-insights.com also lined up a $1 billion IPO exit for Global Medical Response, appointing banks for the potential US listing.
General Atlantic pehub.com invested in Mexican Citigroup subsidiary Banamex as part of a $2.5 billion stake sale that attracted Blackstone pe-insights.com and other investors. KKR pe-insights.com is testing the software market with a potential $1.5 billion sale of BMC Helix, the AI-driven IT service provider. Conoco Phillips pe-insights.com is exploring a $2 billion sale of selected Permian Basin assets as private equity firms eye the portfolio.
Portfolio Management & Strategy
Software reset pe-insights.com is prompting recalibration across private equity portfolios as AI concerns intensify market volatility. Over 40% of GPs secondariesinvestor.com expect to consider continuation vehicles in the next two years, with mid-market sponsors secondariesinvestor.com increasingly turning to larger CVs equivalent to 50% or more of their latest flagship funds.
OMERS pe-insights.com reported $8.2 billion in net income for 2025, though private equity lagged its broader portfolio performance. Water infrastructure pehub.com is drawing increased interest from private equity firms seeking stable, defensive assets with attractive market features.
Fundraising & Investor Relations
Ardian pe-insights.com opened private equity to 5.6 million UK DC savers through a partnership with Legal & General, marking a significant retail expansion. Qatar Investment Authority pe-insights.com committed several hundred million dollars to 5C to expand its private credit capabilities. Jada Fund of Funds pe-insights.com, a PIF subsidiary, plans to ramp up private credit deployment with Stride targeting $200 million in Saudi investments.
Evercore secondariesinvestor.com tapped Adams Street Partners for a 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.
Fund Operations & Leadership
26North's Josh Harris warned that mixing unaccredited investor capital with wealth capital through vehicles with differing regulatory levels could lead to industry backlash. Thoma Bravo's Holden Spaht and Anastasia Titarchuk of New York State's Common Retirement Fund discussed AI disruption perspectives at PEI Group's NEXUS 2026 summit.
Retired vice admiral William Hilarides pehub.com found a calling in private equity-backed defense industry, aiming to help companies meet Navy production needs. Angeles Equity Partners pehub.com tapped Eric Dunn as VP for its operating team to drive post-close transformation and oversee portfolio investments.
Add-Ons & Portfolio Companies
EQT-backed Scale Microgrids pehub.com scooped up Reload to expand its advanced energy solutions portfolio. Frazier Healthcare-backed Rev Spring pehub.com acquired healthcare tech firm Trust Commerce from Waud Capital Partners. Crestview-backed One Magnify pehub.com acquired Optimal's performance marketing business to strengthen its AI-enabled marketing solutions.
Ambienta portco No Dig Alliance pehub.com bought Suomen Putkisto Palvelu, a specialist in manhole rehabilitation and underground water pipe services. Main Capital-backed TMA pehub.com picked up HR tech business STYR as its third add-on since partnering in December 2024.
Exits & Liquidity Events
Gemspring pehub.com sold Security 101 to Morgan Stanley, realizing returns on its 2021 investment. Turning Rock pehub.com exited food company Ameri Qual, which is majority owned by the Harlan family. Miura and Mindful Capital pehub.com agreed to sell Italcer to Austrian listed company Wienerberger.
Brookfield-backed Rockpoint Gas Storage closed a C$459 million secondary offering, with Brookfield selling 16.4 million shares at C$28 per share. Shamrock pehub.com snapped up creative agency Mutiny from Trailer Park Group, which incubated the division in 2021.
Regional & Sector Focus
Gencom pe-insights.com accelerated its New York hotel buying spree with family office backing, reflecting increased institutional capital in US hospitality transactions. Bluestone Equity Partners pe-insights.com announced a three-year partnership with USA Archery ahead of the 2028 Games, strengthening its sports portfolio.
Victor Capital pehub.com backed Specialty Fenestration Group, parent company of Quikserv Inc. and Us Bullet Proofing. Topspin pehub.com injected capital into manufacturer Grid, which partners with fitness chains and athletic programs. Haveli pehub.com backed software firm Sirion to accelerate product innovation and global expansion.
Infrastructure & Energy
GIC emerged as lead buyer on Meridiam's €2 billion+ continuation vehicle consisting of 22 infrastructure assets from legacy funds. Bay Hawk pehub.com invested in Gridco, with the founding management team retaining majority ownership and continuing to lead the business.
Green Heron pehub.com invested in Regency Plumbing Contractors, with the executive team continuing to lead and retain significant ownership. GHK Capital pehub.com acquired architecture, engineering and consulting firm CPL, which employs over 500 people across 25 offices in eight states.
Platform Builds & Strategic Moves
Arcline pehub.com invested in Hydraulics International Inc, whose products serve US and allied defense forces, prime contractors, and government agencies. Kava Equity pehub.com snapped up drywall contractor The Berg Group, where Jack Szmanda serves as CEO.
Goldman Sachs-backed CSD pehub.com acquired autism services firm Behavior Change Institute, expanding its evidence-based autism and behavioral health services. Vistria pehub.com acquired insurance holding company Lumen Holdings, which underwrites commercial property and liability across 30+ states.
Higher Education & Professional Services
ASC-backed Campus Works merged with college consulting firm Dynamic Campus, combining higher education consulting services. Kinderhook pehub.com agreed to take home health and hospice firm Enhabit private for $1.1 billion at $13.80 per share in cash.
Broadband internet provider Vero Networks pehub.com secured $500 million from an investor group led by Hamilton Lane, Braemont Capital and Delta-v Capital. Parex submitted a rival $500 million cash bid for Catalyst-backed Frontera's Colombian upstream business.