Private Equity 3d Briefing
×Market Activity & Deal Flow
Global private equity dealmaking pe-insights.com rebounded sharply in 2025, with buyout deal value surging to $904 billion as "12 is the new 5" reshapes returns. Novacap pe-insights.com closed its Technologies Fund VII at nearly $3.8 billion, exceeding its $2.75 billion target by over $1 billion. Brookfield-backed Rockpoint Gas Storage pehub.com closed a C$459 million secondary offering, while Gencom pe-insights.com accelerates its New York hotel buying spree with family office backing. One River Asset Management pe-insights.com expanded to $3 billion in assets under management with the acquisition of LGT Capital's quantitative investment unit.
Exits & Portfolio Activity
Exit volumes pehub.com are set to grow 30-40% in 2026, according to Blackstone's Verdun Perry, as activity accelerates across the industry. KKR pe-insights.com lined up a $1 billion IPO exit for Global Medical Response, while KKR pe-insights.com tested the software market with a potential $1.5 billion BMC Helix sale. Turning Rock pehub.com exited food company Ameri Qual, and Gemspring pehub.com sold Security 101 to Morgan Stanley. Miura and Mindful Capital pehub.com agreed to sell Italcer to Austrian listed company Wienerberger.
Fundraising & Investment Strategies
Ardian pe-insights.com opened private equity to 5.6 million UK DC savers through a Legal & General partnership, democratizing access to alternative investments. Qatar Investment Authority pe-insights.com backed 5C with several hundred million dollars to expand private credit operations. Jada Fund of Funds pe-insights.com, a Public Investment Fund subsidiary, plans to ramp up private credit as Stride targets $200 million Saudi deployment. Tonal pe-insights.com strengthened its operational oversight as L Catterton partner Todd Bartee took the helm, reshaping connected fitness strategy.
Sector-Specific Activity
Private equity pe-insights.com backed next-generation football formats with over $185 million in capital, flowing into digital-first, small-sided leagues. Water infrastructure pehub.com is drawing increased interest from private equity firms keen to tap into markets with attractive features. Private equity pe-insights.com tripled London office footprint with a $1.68 billion retrofit push, more than tripling share of acquisitions. Bluestone Equity Partners pe-insights.com strengthened its sports portfolio with a three-year partnership with USA Archery ahead of the 2028 Games.
M&A Transactions
CD&R pe-insights.com secured shareholder approval for its $6.2 billion acquisition of Sealed Air, clearing EU regulatory hurdles. Renovus-backed Definian pehub.com acquired data analytics consultancy Incite, while North Current-backed On Track pehub.com picked up Carey's Seamless Gutters & Overhead Doors. Charlesbank-backed Velocity One pehub.com snapped up Kaney Aerospace, and Genstar-backed Docupace pehub.com acquired fintech firm Invest Edge. Fusion Capital-backed Tavoron pehub.com picked up factory automation distributor Doig Corp.
Healthcare & Life Sciences
Frazier Healthcare-backed Rev Spring pehub.com acquired healthcare tech firm Trust Commerce from Waud Capital Partners. Sovereign Capital pehub.com bought Apollo Home Healthcare, founded in 2014 to deliver bespoke, high-acuity care for children and adults with complex clinical needs. Kinderhook pehub.com agreed to take home health and hospice firm Enhabit private for $1.1 billion at $13.80 per share. Goldman Sachs-backed CSD pehub.com acquired autism services firm Behavior Change Institute.
Technology & AI
Clearlake's José E. Feliciano pehub.com discussed AI disruption strategies at PEI Group's NEXUS 2026, telling how to pick winners and losers in the evolving landscape. How GPs and LPs view AI disruption pehub.com was explored by Thoma Bravo's Holden Spaht and New York's Anastasia Titarchuk at the same conference. Brookfield-backed Radiant pehub.com merged with Ori Industries, combining Ori's distributed AI infrastructure platform with Radiant's global capabilities. EQT-backed Scale Microgrids pehub.com scooped up Reload to expand advanced energy solutions.
Secondaries & Continuation Vehicles
Temasek's Azalea Investment Management secondariesinvestor.com expects more GPs to use continuation vehicles to crystallize liquidity for LPs. Over half of GPs secondariesinvestor.com said the primary reason for launching a CV was to return capital to existing LPs, according to Bain's latest report. Lazard secondariesinvestor.com found that majority of CVs run by mid-market GPs in 2025 were equivalent to 50% or more of their latest flagship funds. GIC secondariesinvestor.com emerged as lead buyer on Meridiam's €2 billion+ continuation vehicle, structured around 22 infrastructure assets.
Emerging Markets & Regional Activity
BTG funds pe-insights.com committed $1.05 billion to Raízen as Shell and Cosan advanced their Brazilian recapitalization plan. Parex pehub.com submitted a rival $500 million cash bid for Catalyst-backed Frontera's Colombian upstream business. ASC-backed Campus Works pehub.com merged with college consulting firm Dynamic Campus, expanding higher education services. Victor Capital pehub.com backed Specialty Fenestration Group, parent company of Quikserv Inc. and Us Bullet Proofing.
Operational Enhancements & Portfolio Support
Baird pehub.com invested in digital safety services firm Auto Loto to support expansion of automated worker safety solutions for the built environment. Topspin pehub.com injected capital in manufacturer Grid, a partner to fitness chains and athletic programs. Haveli pehub.com backed software firm Sirion to accelerate product innovation and expand global go-to-market presence. Bay Hawk pehub.com invested in Gridco, with the founding management team retaining majority ownership and leadership.
Fundraising Success Stories
Otro Capital pehub.com looked to pursue a broader sports ecosystem after closing a $1.2 billion fund, having already invested in Flex Work Sports, Formula 1 team Alpine Racing, and Two Circles. Main Capital-backed TMA pehub.com made its third add-on acquisition since partnering with Main Capital Partners in December 2024, picking up HR tech business STYR. Ambienta portco No Dig Alliance pehub.com bought Suomen Putkisto Palvelu, a specialist in manhole rehabilitation and underground water pipe services.
Strategic Partnerships & Platform Building
Crestview-backed One Magnify pehub.com acquired Optimal's performance marketing business to expand AI-enabled marketing solutions. L Squared pehub.com snapped up Functional Devices, with president and CEO Mark Fernandes and the existing leadership team investing alongside and continuing to lead the business. Arcline pehub.com invested in Hydraulics International Inc., whose products serve a global customer base of US and allied defense forces, prime contractors, government agencies, and industrial companies.
Industry Insights & Commentary
Younger, high-quality portfolios secondariesinvestor.com gain ground in the LP-led market as Ardian's Wilfred Small told attendees at PEI's conference that today's market has evolved to asset selection and cherry picking. Lack of exits and compressed PE returns pehub.com are complicating LP-GP dynamics, with Mike Lazorik of Texas TRS telling delegates at NEXUS 2026 that alignment has never been more complicated. Josh Harris of 26North pehub.com warned that retail capital presents a "recipe for problems" when mixing unaccredited investor capital with wealth capital via differently regulated vehicles.