Private Equity 3d Briefing
×Major Buyouts & Bids
BlackRock’s GIP and EQT pe-insights.com are in advanced discussions for a potential $12.4 billion takeover of US power producer AES. Blackstone, CVC and Brookfield pe-insights.com submitted preliminary bids valuing Volkswagen’s diesel engine unit Everllence at around €8 billion. Advent International pe-insights.com is among five suitors for UK engineering firm Senior plc, which has drawn $1.78 billion in takeover interest. Oaktree Capital Management pe-insights.com is exploring a sale or London IPO for UK wealth manager Utmost Group, potentially valued at $2.7 billion. CD&R pe-insights.com secured shareholder approval and EU clearance for its $6.2 billion acquisition of Sealed Air.
Fundraising & Capital
Carlyle Group pe-insights.com set an ambitious target to raise at least $200 billion in inflows by the end of 2028 as its turnaround strategy gains traction. Novacap pe-insights.com closed its Technologies Fund VII at nearly $3.8 billion, surpassing its $2.75 billion target. Arcmont Asset Management pe-insights.com secured $1.62 billion for its second European private credit fund focused on complex strategies. FS KKR Capital Corporation pe-insights.com, KKR’s publicly traded private credit vehicle, reported an increase in troubled loans and adapted its strategy amid shifting market conditions.
Firm Updates & Leadership
Sverica pehub.com promoted Michael Dougherty to partner and Doug Patrican to principal, while also recently hiring Matt Johnson as a principal. DPI pehub.com named Sofiane Lahmar as its new chief executive officer, a role he takes after serving as a senior partner since 2010. Permira pehub.com appointed Giorgio Dinaro as the new head of its Milan office, succeeding Francesco Pascalizi. Astorg pehub.com will see co-head Edouard Pillot leave, with Lionel de Posson taking sole control of the mid-cap team. Encore pehub.com promoted Paul Rivenburgh to managing director, a role he earned after joining as an associate in 2016.
Exit Strategies & Divestments
EQT pehub.com sold its remaining shares in specialty chemicals distributor Azelis for €190 million. Behrman pehub.com sold Waterline Renewal Technologies to New Mountain Capital-backed Azuria. Tri West Capital pehub.com exited Peloton Computer Enterprises following a recapitalization led by Carlyle Group. IOP pehub.com agreed to sell retail fixtures provider Royston to LSI Industries for $320 million, with the deal expected to close in the third quarter of LSI’s 2026 fiscal year.
Market Trends & Secondaries
KKR’s FSK fund reported rising troubled loans, highlighting pressures in the private credit market. CalPERS pe-insights.com stated it remains confident in its private credit exposure despite concerns about AI-driven software risks in the $1.8 trillion market. The NEXUS conference highlighted that GP-led secondaries deals secondariesinvestor.com are exploring new return opportunities, with asset selection becoming critical. Blackstone’s Verdun Perry pehub.com forecast a 30%-40% increase in exit activity for 2026, which should boost secondaries volume. Ardian’s Wilfred Small secondariesinvestor.com noted that the secondaries market has evolved into one focused on "cherry picking" high-quality portfolios from LPs.