Private Equity 3d Briefing
×Market Activity & Exits
Blackstone pe-insights.com targets $200bn inflows by 2028 as its turnaround gains traction. Carlyle Group expects to raise at least $200bn in inflows by the end of the decade. Exit activity pehub.com is set to grow 30%-40% in 2026 according to Blackstone's Verdun Perry. Exit volumes will move assets' cashflows forward, allowing secondaries buyers to offer higher prices. Exit activity should pull sellers into the market. 2026 should mark a record year for exits and secondials volume. Exit activity is set to grow 30%-40% in 2026. Exit volumes will move assets' cashflows forward.
Fundraising & Investment
Novacap pe-insights.com closed its $3.8bn Tech Fund VII, surpassing its $2.75bn target by over $1bn. Arcmont pe-insights.com secured $1.62bn for its complex European private credit strategy. Otro Capital pehub.com closed a $1.2bn fund to pursue a broader sports ecosystem. Topspin pehub.com injected capital into manufacturer Grid. Bay Hawk pehub.com invested in Gridco. Fusion Capital pehub.com backed Tavoron's acquisition of factory automation distributor Doig Corp. Gencom pe-insights.com accelerated its New York hotel buying spree with family office backing. Gencom is increasingly driving large-scale US hospitality transactions.
Deal Activity
CD&R pe-insights.com secured shareholder approval for its $6.2bn acquisition of Sealed Air. EQT pehub.com sold its remaining shares in Azelis for €190m. IOP pehub.com agreed to sell retail fixtures provider Royston to LSI Industries for $320m. Gemspring pehub.com sold Security 101 to Morgan Stanley. Wynnchurch pehub.com agreed to acquire Arcosa's barge business for $450m. Behrman pehub.com sold Waterline Renewal Technologies to New Mountain-based Azuria. Insight Equity pehub.com scooped up aerosol products maker IKI. Terminus pehub.com invested in fintech firm Eventus. Bridgepoint pehub.com invested in Gold State Music. Cavu pehub.com promoted Jared Jacobs to managing partner.
GP-Led & Secondaries
GP-led credit market secondariesinvestor.com explores different deal and return opportunities as growth continues. The ability to select assets and ensure alignment with GPs will support the performance of credit GP-led deals. GP-leds secondariesinvestor.com boost exits for Azalea's offerings. Temasek's Azalea Investment Management expects more GPs to use technology to crystallise liquidity for LPs. Secondaries' 2026 blueprint secondariesinvestor.com includes increased LP selling and a new normal for CVs. Younger, high-quality portfolios secondariesinvestor.com gain ground in the LP-led market. Today's market for secondaries has evolved to a market of asset selection and cherry picking.
Industry Developments
Private equity pe-insights.com has more than tripled its share of London office acquisitions over the past period. Private equity firms have invested $1.68bn in retrofit pushes. Private equity pe-insights.com backs next-generation football formats with $185m-plus in capital. Private capital is increasingly flowing into digital-first, small-sided football leagues. Clearlake's pehub.com José E. Feliciano says AI disruption has everything being lumped into the same bucket. In the short term doing a buyout of a software business or a take-private of a software business is probably a four-letter word. Water infrastructure pehub.com is drawing increased interest from private equity firms. Ambienta's NDA makes add-ons in the water infrastructure space.
Leadership & Strategy
L Catterton pe-insights.com partner Todd Bartee took the helm at Tonal as private equity reshapes connected fitness. CalPERS pehub.com wants its GPs to do better on transparency. More visibility on portfolio company data will help the $613.7bn US pension better manage its risk. NEXUS panelists pehub.com cite lack of exits and compressed PE returns as complicating LP-GP dynamics. LP-GP alignment has never been more complicated according to Mike Lazorik of Texas TRS. 26North's pehub.com Josh Harris warns that retail capital presents a recipe for problems. Mixing unaccredited investor capital with wealth capital via vehicles with differing levels of regulation could lead to a backlash against the industry.
Portfolio Company Activity
Genstar-backed pehub.com Docupace acquired fintech firm Invest Edge. Docupace is a provider of AI-enabled back-office and compliance software for wealth management firms. Renovus-backed pehub.com Definian acquired data analytics consultancy Incite. Definian is a Chicago-based data solutions provider. Gemspring-backed pehub.com Zavation picked up Choice Spine. Zavation is a maker of spinal implants, interventional spine products, and biologics. ONCAP-backed pehub.com Komar Industries acquired waste services firm Metro. Komar is a designer and manufacturer of waste and recycling processing solutions. North Current-backed pehub.com On Track picked up Carey's Seamless Gutters & Overhead Doors. On Track Partners is a provider of residential and commercial garage door services.
Fund Performance & Returns
La Caisse pe-insights.com grew to $378bn after a 9.3% return amid PE headwinds. Caisse de Depot et Placement du Quebec generated a 9.3% overall return in 2025. OMERS pe-insights.com reported $8.2bn net income in 2025 as private equity lagged its broader portfolio. OMERS delivered a 6% net investment return in 2025. Plaid pe-insights.com returned to an $8bn valuation in an employee liquidity funding round. Plaid Inc. secured an $8bn valuation in a new funding round designed to provide liquidity to employees.
Regulatory & Market Trends
Toyota pe-insights.com moves to unwind $19bn in cross-shareholdings amid reform drive. Toyota Motor Corp. is planning to unwind approximately ¥3tn in strategic shareholdings held by banks. Sovereign Capital pehub.com bought Apollo Home Healthcare. Apollo delivers bespoke, high-acuity care with a focus on children and adults with complex clinical needs. CVC-owned pe-insights.com Syntegon raised $1.89bn in debt to fund a $648m shareholder dividend. CVC Capital Partners-backed Syntegon has increased its debt load by 40% to €1.6bn. Ambienta portco pehub.com No Dig Alliance bought Suomen Putkisto Palvelu. SPP is a specialist in manhole rehabilitation, underground water pipe services, and advanced lining services.