Private Equity 3d Briefing
×Fundraising & Fundraising Targets
Carlyle Group pe-insights.com has set a $200 billion inflow target by 2028 as its turnaround gains traction, accelerating fundraising compared to the $158 billion it raised in previous years. Novacap pe-insights.com closed its $3.8 billion Tech Fund VII, surpassing its $2.75 billion target by over $1 billion. Arcmont Asset Management pe-insights.com completed the final close of its Capital Solutions Fund II at $1.62 billion for complex European private credit strategies. Cavu pehub.com promoted Jared Jacobs to managing partner, where he joined the firm in 2017. Bay Hawk pehub.com invested in Gridco, with the founding management team remaining majority shareholders. Topspin pehub.com injected capital into manufacturer Grid, a partner to fitness chains and athletic programs. Angeles Equity Partners pehub.com tapped Eric Dunn as VP for its operating team, responsible for evaluating new investment opportunities and driving post-close transformation.
Acquisitions & Investments
Renovus-backed Solomon Edwards pehub.com snapped up consulting and recruiting firm CFO's Domain, expanding its professional services footprint. Gemspring-backed Zavation pehub.com picked up Choice Spine, adding to its spinal implants portfolio. Content monetization firm Stay22 pehub.com inked $122 million from Summit Partners to support global expansion and product innovation. Insight Equity pehub.com scooped up aerosol products maker IKI, serving consumer and professional products companies. Terminus pehub.com invested in fintech firm Eventus, which will increase investment in product innovation under majority ownership. Baird pehub.com invested in digital safety services firm Auto Loto to expand automated worker safety solutions. Fusion Capital-backed Tavoron pehub.com picked up factory automation distributor Doig Corp, expanding its automation and robotics portfolio. QC Capital pehub.com backed My Pediatric Doctor, with Eric Doherty serving as CEO. Aquiline-backed Relation pehub.com acquired Thorn Creek Insurance Services, with Tim Hall continuing as CEO. North Current-backed On Track pehub.com picked up Carey's Seamless Gutters & Overhead Doors, expanding residential and commercial services. Charlesbank-backed Velocity One pehub.com snapped up Kaney Aerospace, uniting specialized companies in aerospace and defense. Genstar-backed Docupace pehub.com acquired fintech firm Invest Edge, enhancing its AI-enabled back-office software for wealth management. Shamrock pehub.com snapped up creative agency Mutiny from Trailer Park Group. Kava Equity pehub.com acquired drywall contractor The Berg Group, with Jack Szmanda continuing as CEO. Victor Capital pehub.com backed Specialty Fenestration Group, parent company of Quikserv Inc. and Us Bullet Proofing. Bridgepoint pehub.com invested in Gold State Music to support a dedicated investment program focused on music-oriented businesses. Arcline pehub.com invested in Hydraulics International Inc, serving US and allied defense forces. L Squared pehub.com acquired Functional Devices, with Mark Fernandes and existing leadership continuing to lead the business.
Portfolio Company Moves & Exits
Clearlake's José E. Feliciano pehub.com discussed AI disruption, noting that "everything's being lumped into the same bucket" and that buyouts of software businesses are currently challenging. Gencom pe-insights.com accelerated its New York hotel buying spree with family office backing, driving large-scale US hospitality transactions. Miura and Mindful Capital pehub.com agreed to sell Italcer to Austrian listed company Wienerberger. Tri West Capital pehub.com exited Peloton Computer Enterprises through a recapitalization transaction led by Carlyle Group. ONCAP-backed Komar Industries pehub.com acquired waste services firm Metro, expanding its waste and recycling processing solutions. Wynnchurch pehub.com agreed to acquire Arcosa's barge business for $450 million. Brookfield-backed Radiant pehub.com merged with Ori Industries, combining distributed AI infrastructure with global capabilities. Otro Capital pehub.com closed its $1.2 billion fund to pursue a broader sports ecosystem after investing in Flex Work Sports, Formula 1 team Alpine Racing, and Two Circles. Main Capital-backed TMA pehub.com picked up HR tech business STYR, marking its third transaction since partnering with Main Capital Partners in December 2024. Ambienta portco No Dig Alliance pehub.com bought Suomen Putkisto Palvelu, a specialist in manhole rehabilitation and underground water pipe services. Crestview-backed One Magnify pehub.com acquired Optimal's performance marketing business. EQT-backed Scale Microgrids pehub.com scooped up Reload, expanding its advanced energy solutions portfolio. ASC-backed Campus Works pehub.com merged with college consulting firm Dynamic Campus. 26North's Josh Harris pehub.com warned that retail capital presents a "recipe for problems" when mixing unaccredited investor capital with wealth capital through differently regulated vehicles.
Secondaries & Portfolio Liquidity
CPP Investments secondariesinvestor.com will mull secondaries sales to "trim older exposure" as it aims to deploy about C$20 billion into private equity this year. Temasek's Azalea Investment Management secondariesinvestor.com expects more GPs to use continuation vehicles to crystallize liquidity for LPs. GP-leds secondariesinvestor.com boosted exits for Azalea's offerings as technology adoption grows. GIC secondariesinvestor.com emerged as lead buyer on Meridiam's €2 billion+ continuation vehicle, consisting of 22 infrastructure assets held by legacy funds. NEXUS panelists pehub.com discussed how lack of exits and compressed PE returns are complicating LP-GP dynamics, with Mike Lazorik of Texas TRS noting alignment "has never been more complicated." Younger, high-quality portfolios secondariesinvestor.com are gaining ground in the LP-led market as Ardian's Wilfred Small noted the market has evolved to "asset selection and cherry picking."
Strategic Moves & Market Trends
Blackstone's Foley and Khan pehub.com highlighted electrical products distributor Arlington's add-on potential as Blackstone's energy transition fund has been involved with nine deals ranging from $800 million to $6.5 billion. Blackstone's Verdun Perry pehub.com predicted 2026 will mark a record year for exits and secondaries volume, with exit volumes moving assets' cashflows forward to allow secondaries buyers to offer higher prices. Blackstone's Perry pehub.com also expects exit activity to grow 30%-40% in 2026 amid AI disruption concerns. Verdane pehub.com made a £186 million bid for Augmentum Fintech, a London-based fintech fund. Sovereign Capital pehub.com bought Apollo Home Healthcare, founded in 2014 and delivering bespoke high-acuity care for children and adults with complex clinical needs. KKR pe-insights.com lined up a $1 billion IPO exit for Global Medical Response. KKR pe-insights.com tested the software market with a potential $1.5 billion BMC Helix sale. Private equity firms pe-insights.com eyed a $2 billion Permian asset sale as Conoco Phillips streamlines its portfolio. Private equity pe-insights.com backed next-generation football formats with $185 million-plus in capital, flowing into digital-first small-sided football leagues. Private equity firms pehub.com tripled their London office footprint with a $1.68 billion retrofit push, more than tripling their share of London office acquisitions. Parex pehub.com submitted a rival bid for Catalyst-backed Frontera's Colombian upstream business, proposing to buy Frontera Petroleum International Holdings for $500 million in cash. How GPs and LPs view AI disruption pehub.com was discussed by Thoma Bravo's Holden Spaht and New York's Anastasia Titarchuk at PEI Group's NEXUS 2026 summit.
Fund Performance & Economic Outlook
La Caisse pe-insights.com grew to $378 billion after a 9.3% return amid PE headwinds, generating $8.2 billion in net income in 2025. OMERS pe-insights.com reported $8.2 billion net income in 2025 as private equity lagged its broader portfolio, delivering a 6% net investment return. CalPERS' Marcie Frost pehub.com emphasized that the $613.7 billion US pension wants its GPs to do better on transparency, noting that more visibility on portfolio company data will help better manage risk. CalPERS' Frost pehub.com also stated, "We're not selling assets in order to hit the payroll," as the pension seeks to be involved in growing businesses without paying premium ecosystem pricing. Retired vice admiral William Hilarides pehub.com found his calling as PE backs the defense industry, aiming to make a "substantive difference in shipbuilding and the rest of the defense industrial base."
International & Cross-Border Activity
Toyota pe-insights.com moved to unwind $19 billion in cross-shareholdings amid a reform drive, planning to unwind approximately ¥3 trillion in strategic shareholdings held by banks. Apollo and BNP Paribas pe-insights.com joined forces to expand European private credit, finalizing a partnership to originate deals. BTG funds pe-insights.com agreed to invest $1.05 billion in Raízen as Shell and Cosan advance their recapitalization plan. C