Private Equity 3d Briefing
×Deal Activity & Valuations
Blackstone's Verdun Perry pehub.com predicted exit volumes will grow 30-40% in 2026 as more GPs seek liquidity. Novacap pe-insights.com closed its $3.8 billion Tech Fund VII, surpassing its $2.75 billion target by over $1 billion. KKR pe-insights.com is lining up a $1 billion IPO exit for Global Medical Response, appointing banks for the potential US listing. Bain and Lone Star pe-insights.com have advanced to the second round in the $1.9 billion bid race for Mitsubishi Electric's auto unit. General Atlantic and Blackstone pe-insights.com are among investors in Citigroup's $2.5 billion Banamex stake sale, with the bank selling a 24% stake in its Mexican unit.
Portfolio Company Moves
CD&R pe-insights.com secured shareholder approval and EU clearance for its $6.2 billion Sealed Air takeover. Renovus-backed Definian pehub.com acquired data analytics consultancy Incite to expand its Chicago-based data solutions business. North Current-backed On Track pehub.com picked up Carey's Seamless Gutters & Overhead Doors, adding to its Florida-based residential and commercial services portfolio. Charlesbank-backed Velocity One pehub.com snapped up Kaney Aerospace, strengthening its aerospace and defense platform. Genstar-backed Docupace pehub.com acquired fintech firm Invest Edge to enhance its AI-enabled back-office software for wealth management.
Secondaries & Continuation Vehicles
Temasek's Azalea Investment Management secondariesinvestor.com expects more GPs to use continuation vehicles to crystallize liquidity for LPs. Ardian secondariesinvestor.com emerged as lead buyer in Meridiam's €2 billion+ continuation vehicle, acquiring a portfolio of 22 infrastructure assets. Brookfield-backed Rockpoint Gas Storage pehub.com closed a C$459 million secondary offering, with Brookfield selling 16.4 million shares. Over 40% of GPs secondariesinvestor.com expect to consider continuation vehicles in the next two years, according to Bain research.
Fundraising & Capital Deployment
Otro Capital pehub.com closed a $1.2 billion fund to pursue a broader sports ecosystem, having already invested in Flex Work Sports, Formula 1 team Alpine Racing, and Two Circles. PIF unit Jada pe-insights.com plans to ramp up private credit as Stride targets $200 million Saudi deployment. Qatar Investment Authority pe-insights.com backed 5C with several hundred million dollars to expand private credit operations. Ardian pe-insights.com opened private equity to 5.6 million UK DC savers through a partnership with Legal & General.
Operational Leadership & Strategy
L Catterton partner Todd Bartee pe-insights.com took the helm at Tonal as private equity reshapes connected fitness. Victor Capital pehub.com backed Specialty Fenestration Group, parent company of Quikserv Inc. and Us Bullet Proofing. Angeles Equity Partners pehub.com tapped Eric Dunn as VP for its operating team, responsible for investment evaluation and post-close transformation. Retired vice admiral William Hilarides pehub.com joined Ventus Industrial, finding a calling as PE backs the defense industry.
Industry Events & Insights
Clearlake's José E. Feliciano pehub.com discussed AI disruption and picking winners and losers at PEI Group's NEXUS 2026 summit. Thoma Bravo's Holden Spaht and New York's Anastasia Titarchuk pehub.com shared how GPs and LPs view AI disruption in a separate NEXUS conversation. CalPERS CEO Marcie Frost pehub.com emphasized the pension fund wants better transparency from its GPs on portfolio company data. NEXUS panelists pehub.com noted that lack of exits and compressed PE returns are complicating LP-GP dynamics.
Healthcare & Life Sciences
Frazier Healthcare-backed Rev Spring pehub.com acquired healthcare tech firm Trust Commerce, with Waud Capital Partners as the seller. Sovereign Capital pehub.com bought Apollo Home Healthcare, a provider of 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.
Technology & Software
EQT-backed Scale Microgrids pehub.com scooped up Reload to expand its advanced energy solutions. Crestview-backed One Magnify pehub.com acquired Optimal's performance marketing business to strengthen its AI-enabled marketing solutions. Haveli pehub.com backed software firm Sirion to accelerate product innovation and global expansion. KKR pe-insights.com is testing the software market with a potential $1.5 billion sale of BMC Helix, its AI-driven IT service management platform.
Infrastructure & Energy
Wynnchurch pehub.com agreed to acquire Arcosa's barge business for $450 million, expanding its infrastructure portfolio. Private equity firms pe-insights.com are eyeing a $2 billion Permian asset sale as Conoco Phillips streamlines its portfolio. Ambienta portco No Dig Alliance pehub.com bought Suomen Putkisto Palvelu, a specialist in manhole rehabilitation and underground water pipe services.
Sports & Entertainment
Bluestone Equity Partners pe-insights.com strengthened its sports portfolio with a three-year partnership with USA Archery ahead of the 2028 Games. Private equity pe-insights.com has backed next-generation football formats with over $185 million in capital, flowing into digital-first small-sided leagues. Otro Capital is looking to pursue a broader sports ecosystem after closing its $1.2 billion fund.
Regional & Market Trends
Europe pehub.com is drawing capital as dealmakers weigh US tariff uncertainty, according to Lincoln International. OMERS pe-insights.com reported $8.2 billion net income in 2025, though private equity lagged its broader portfolio with a 6% net investment return. 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.