Private Equity 3d Briefing
×Executive Moves & Leadership Changes
Sverica pehub.com promoted Michael Dougherty to partner and Doug Patrican to principal. The firm also hired Matt Johnson as a principal. DPI pehub.com named Sofiane Lahmar as new CEO, who has been a senior partner since 2010. Cavu pehub.com promoted Jared Jacobs to managing partner after he joined in 2017. Encore pehub.com promoted Paul Rivenburgh to managing director, where he joined as an associate in 2016. Astorg pehub.com saw mid-cap co-head Edouard Pillot depart, with Lionel de Posson taking sole control of the team.
Fundraising & Investment Activity
Novacap pe-insights.com closed its Tech Fund VII at nearly $3.8 billion, exceeding its $2.75 billion target by over $1 billion. Arcmont pe-insights.com secured $1.62 billion for its complex European private credit strategy. One River pe-insights.com expanded to $3 billion in assets under management with the acquisition of LGT Capital's quantitative investment unit. SMFL MIRAI Partners secondariesinvestor.com plans to allocate $300-500 million across funds in 2026. Temasek's Azalea secondariesinvestor.com expects more GPs to use technology to crystallize liquidity for LPs.
Major Takeovers & Strategic Moves
BlackRock's GIP and EQT pe-insights.com are in advanced discussions to acquire US power producer AES in a potential $12.4 billion deal. CD&R pe-insights.com secured shareholder approval for its $6.2 billion acquisition of Sealed Air, which also received EU clearance. Verdane pehub.com made a £186 million bid for Augmentum Fintech. Blackstone pehub.com is positioning Arlington for add-on acquisitions after its energy transition fund completed nine deals ranging from $800 million to $6.5 billion. Carlyle pe-insights.com set a $200 billion inflow target by 2028 as its turnaround gains traction.
Portfolio Company Transactions
Searchlight and Abry pehub.com agreed to take Io T company Kore private for $726 million at $9.25 per share. Multiples-backed Zenex Animal Health pehub.com acquired Netherlands-based Vieve Pharm, recognized for its expertise in phytogenic formulations for livestock, equine, and pet care markets. Gemspring-backed Zavation pehub.com picked up Choice Spine, expanding its spinal implants and biologics portfolio. Genstar-backed Docupace pehub.com acquired fintech firm Invest Edge to enhance its AI-enabled back-office software for wealth management.
Healthcare & Life Sciences
Falfurrias-backed Woven Solutions pehub.com acquired government consultancy Valence, a Reston, Virginia-based provider of software for the national security community. Sovereign Capital pehub.com bought Apollo Home Healthcare, founded in 2014 to deliver bespoke, high-acuity care focused on children and adults with complex clinical needs. Renovus-backed Solomon Edwards pehub.com snapped up consulting and recruiting firm CFO's Domain. Renovus-backed Definian pehub.com acquired data analytics consultancy Incite.
Industrial & Manufacturing
Trive Capital pehub.com invested in Rolfson Oil, which subsequently acquired Flint Logistics Group, an Oklahoma City-based provider of fuel, oils, and lubricants. Wynnchurch pehub.com agreed to acquire Arcosa's barge business for $450 million. ONCAP-backed Komar Industries pehub.com acquired waste services firm Metro, expanding its waste and recycling processing solutions. Fusion Capital-backed Tavoron pehub.com picked up factory automation distributor Doig Corp.
Technology & Software
Plaid pe-insights.com returned to an $8 billion valuation in an employee liquidity funding round. Clearlake's José E. Feliciano pehub.com noted that buyout activity in software businesses has become challenging amid AI disruption concerns. Content monetization company Stay22 pehub.com secured $122 million from Summit Partners to support global expansion and product innovation. Baird pehub.com invested in digital safety services firm Auto Loto to expand its automated worker safety solutions.
Sports & Entertainment
Otro Capital pehub.com closed a $1.2 billion fund to pursue investments across the broader sports ecosystem, having already invested in Flex Work Sports, Formula 1 team Alpine Racing, and Two Circles. Private equity pe-insights.com is backing next-generation football formats with over $185 million in capital, flowing into digital-first, small-sided leagues. L Catterton partner Todd Bartee took the helm at Tonal as private equity reshapes the connected fitness market.
Private Credit & Secondaries
KKR's $13 billion FSK fund pe-insights.com is adapting to the shifting private credit landscape amid rising troubled loans. Blackstone's private credit fund pe-insights.com priced a $400 million 2029 bond amid software volatility concerns. CalPERS pe-insights.com remains confident in its $1.8 trillion private credit exposure despite AI-driven software risks. Apollo and BNP Paribas pe-insights.com are finalizing a partnership to expand European private credit origination.
Exit Activity & Market Outlook
Blackstone's Foley and Khan highlighted Arlington's add-on potential in the electrical products distribution space. Blackstone's Verdun Perry pehub.com predicted exit activity will grow 30-40% in 2026, with 2026 marking a record year for exits and secondaries volume. CalPERS' Marcie Frost pehub.com emphasized the pension fund's commitment to staying invested rather than selling assets to meet payroll obligations. GP-led credit market secondariesinvestor.com is exploring different deal and return opportunities as growth continues.
Regional & Sector-Specific Developments
Advent International pe-insights.com is among suitors for Senior plc, which disclosed five takeover approaches valuing the company at $1.78 billion. Advent pe-insights.com sealed the takeover of Southeast Europe's fast-growing tbi bank after receiving regulatory clearance. Saudi AI boom pe-insights.com is drawing buyout interest as Quantum Switch Tamasuk explores strategic options including a potential sale. Wise Equity pehub.com will invest in vending machine manufacturer FAS International, which closed 2025 with revenues exceeding €58 million and EBITDA margin above 20 percent.
Infrastructure & Energy
Brookfield-backed Radiant pehub.com merged with Ori Industries, combining Ori's distributed AI infrastructure platform with Radiant's global capabilities. BTG funds pe-insights.com will invest $1.05 billion in Raízen as Shell and Cosan advance their recapitalization plan. CVC-owned Syntegon pe-insights.com raised $1.89 billion in debt to fund a $648 million shareholder dividend, increasing its debt load by 40%.