Private Equity 3d Briefing
×Major PE Exits & M&A
KKR pe-insights.com is lining up a $1 billion IPO exit for Global Medical Response, while Bain Capital pe-insights.com and Lone Star Funds have advanced to the second round in a $1.9 billion bid race for Mitsubishi Electric's auto unit. General Atlantic pe-insights.com and Blackstone are among investors in a $2.5 billion Banamex stake sale from Citigroup. In education, KKR pe-insights.com outbid rivals to secure a majority stake in XCL Education Holdings in a $1.3 billion deal. Meanwhile, Kinderhook Partners pehub.com is taking home health and hospice firm Enhabit private for $1.1 billion.
Market Trends & Secondaries
Blackstone's secondariesinvestor.com global head of Strategic Partners predicts 2026 will mark a record year for exits and secondaries volume, as exit volumes move assets' cashflows forward. At PEI Group's NEXUS 2026 event, panelists including Mike Lazorik pehub.com of Texas TRS discussed how lack of exits and compressed returns are complicating LP-GP dynamics. Last year saw 85 continuation vehicles close with 40 more launching or being mulled, according to Secondaries Investor secondariesinvestor.com. A Lazard secondariesinvestor.com report found most mid-market GPs' 2025 continuation vehicles equaled 50% or more of their latest flagship funds