Private Equity 3d Briefing
×Deals & Exits
CD&R's $6.2bn takeover pe-insights.com of Sealed Air secured shareholder approval and EU clearance, clearing a major hurdle for the leveraged buyout. KKR pe-insights.com is lining up a $1bn US IPO for its portfolio company Global Medical Response, appointing banks to lead the potential listing. On the exit front, Oaktree pe-insights.com is exploring a sale or London IPO for UK wealth manager Utmost Group, targeting a valuation near $2.7bn. EQT pehub.com sold its remaining shares in specialty chemicals distributor Azelis for €190m, fully exiting its investment. In a separate trade sale, Behrman pehub.com divested Waterline Renewal Technologies to New Mountain Capital-backed Azuria.
Fundraising & Strategy
Carlyle Group pe-insights.com set an ambitious target to raise at least $200bn in inflows by 2028, signaling a turnaround plan for the firm. Novacap pe-insights.com closed its Technologies Fund VII at nearly $3.8bn, surpassing its $2.75bn target by a wide margin. Arcmont Asset Management pe-insights.com secured $1.62bn for its second European private credit fund, Capital Solutions Fund II. One River pe-insights.com expanded to $3bn in assets under management by acquiring LGT Capital's quantitative investment unit. Meanwhile, Plaid pe-insights.com returned to an $8bn valuation in a funding round providing employee liquidity, a notable rebound from its 2021 peak.
Secondaries & GP-leds
The secondaries market is evolving toward asset selection secondariesinvestor.com, with LPs increasingly favoring high-quality portfolios, according to Ardian's Wilfred Small at the NEXUS conference. GP-led transactions secondariesinvestor.com are gaining traction in credit, with Antares' Olga Kosters highlighting the importance of asset selection and GP alignment. Temasek's Azalea secondariesinvestor.com expects more GPs to use technology to crystallize liquidity for LPs through GP-led deals. GIC secondariesinvestor.com emerged as the lead buyer on a continuation vehicle for Meridiam, acquiring a portfolio of 22 infrastructure assets. Brookfield pehub.com sold a 16.4 million share stake in its Rockpoint Gas Storage affiliate in a C$459m secondary offering.
Buyout Activity
Trive Capital pehub.com backed Rolfson Oil, which subsequently acquired Flint Logistics Group, a fuel and lubricants provider. Tonka Bay Capital pehub.com invested in Camp Digital, a home services marketing platform. Bridgepoint pehub.com backed Gold State Music, which will build