Private Equity 3d Briefing
×Market Trends & Valuations
Private equity firms pe-insights.com closed $904bn in global buyout deals in 2025, marking a sharp rebound as "12 is the new 5" reshapes return expectations. The compressed exit environment and compressed valuations are complicating LP-GP dynamics, with panelists at NEXUS 2026 noting that alignment "has never been more complicated." Novacap pe-insights.com closed its $3.8bn Tech Fund VII, surpassing its $2.75bn target by over $1bn, while Blackstone's pehub.com Verdun Perry predicted exit activity will grow 30%-40% in 2026 as secondaries volume reaches record levels.
Deal Activity
CD&R pe-insights.com secured shareholder approval and EU clearance for its $6.2bn takeover of Sealed Air, while KKR pe-insights.com is lining up a $1bn IPO exit for Global Medical Response. KKR pe-insights.com also outbid rivals to secure a majority stake in $1.3bn XCL Education, and CVC-owned pe-insights.com Syntegon raised $1.89bn in debt to fund a $648m shareholder dividend, increasing its leverage by 40%. Blackstone-backed pehub.com Radiant merged with Ori Industries to combine distributed AI infrastructure with global capabilities, while Brookfield-backed pehub.com Rockpoint Gas Storage closed a C$459m secondary offering.
AI & Technology Disruption
Clearlake's pehub.com José E. Feliciano outlined strategies for picking winners and losers in AI disruption at NEXUS 2026, while Thoma Bravo's pehub.com Holden Spaht and New York's Anastasia Titarchuk discussed how GPs and LPs are viewing AI disruption. Genstar-backed pehub.com Docupace acquired fintech firm Invest Edge, expanding its AI-enabled back-office software for wealth management. EQT-backed pehub.com Scale Microgrids scooped up Reload to strengthen its advanced energy solutions portfolio, and Crestview-backed pehub.com One Magnify acquired Optimal's performance marketing business.
Healthcare & Life Sciences
Inflexion's pehub.com John Di Giovanni identified AI opportunities across healthcare as the firm appointed him head of healthcare in January. Frazier Healthcare-backed pehub.com Rev Spring acquired healthcare tech firm Trust Commerce from Waud Capital Partners, while Sovereign Capital pehub.com bought Apollo Home Healthcare, a provider of bespoke high-acuity care. Kinderhook pehub.com agreed to take home health and hospice firm Enhabit private for $1.1bn at $13.80 per share, and Ardian pe-insights.com partnered with Legal & General to open private equity to 5.6m UK DC savers.
Infrastructure & Energy
Private equity pe-insights.com has invested over $185m in next-generation football formats, targeting digital-first small-sided leagues. EQT-backed Scale Microgrids expanded its energy portfolio with Reload, while Conoco Phillips pe-insights.com is exploring a potential $2bn sale of selected Permian Basin assets. Ambienta's pehub.com portco No Dig Alliance acquired Suomen Putkisto Palvelu, a specialist in manhole rehabilitation and underground water pipe services.
Secondaries & Continuation Vehicles
Temasek's secondariesinvestor.com Azalea Investment Management expects more GPs to use technology to crystallize liquidity for LPs through continuation vehicles. Lazard secondariesinvestor.com reported that the majority of CVs run by mid-market GPs in 2025 are equivalent to 50% or more of their latest flagship. Secondaries Investor secondariesinvestor.com data shows 85 continuation vehicles closed last year, with 40 more launching or being considered.
Portfolio Company Moves
Gencom pe-insights.com accelerated its New York hotel buying spree with family office backing, while Bluestone pe-insights.com strengthened its sports portfolio with a three-year partnership with USA Archery ahead of the 2028 Games. ONCAP-backed pehub.com Komar Industries acquired waste services firm Metro, expanding its waste and recycling processing solutions. North Current-backed pehub.com On Track Partners picked up Carey's Seamless Gutters & Overhead Doors, and Charlesbank-backed pehub.com Velocity One snapped up Kaney Aerospace to expand its aerospace and defense platform.
Fundraising & Capital Deployment
Otro Capital pehub.com closed a $1.2bn fund targeting broader sports ecosystem investments after backing Flex Work Sports, Alpine Racing, and Two Circles. Jada Fund of Funds pe-insights.com, a PIF subsidiary, plans to ramp up private credit deployment, while Stride targets $200m Saudi deployment. Qatar Investment Authority pe-insights.com committed several hundred million dollars to 5C to expand private credit capabilities.
Regulatory & Transparency
CalPERS pehub.com CEO Marcie Frost emphasized the need for better transparency from GPs, stating that more visibility on portfolio company data will help the $613.7bn pension better manage risk. Evercore secondariesinvestor.com appointed Adams Street Partners' head for new APAC secondaries coverage following Shane Gong's departure. ECI Partners pehub.com welcomed Marijn Pangemanan as new investment director while appointing Scarlett Salamon as investor relations analyst.
Exit Activity
Turning Rock pehub.com exited food company Ameri Qual, which is majority owned by the Harlan family. Tri West Capital pehub.com exited Peloton Computer Enterprises through a Carlyle Group-led recapitalization. Gemspring pehub.com sold Security 101 to Morgan Stanley, having invested in the company in 2021. Miura and Mindful Capital pehub.com agreed to sell Italcer to Austrian listed company Wienerberger.