Private Equity 3d Briefing
×Major PE Deals
BlackRock's GIP pe-insights.com and EQT are in advanced discussions to acquire US power producer AES in a potential $12.4 billion deal. Meanwhile, Advent International pe-insights.com is among potential bidders for Senior plc, which has disclosed receiving five takeover offers valuing the company at $1.78 billion. In another major transaction, Blackstone pe-insights.com, CVC and Brookfield have submitted preliminary bids for Volkswagen's diesel engine unit Everllence, valuing it at around €8 billion.
Private Credit Activity
Apollo Global Management pe-insights.com and BNP Paribas are close to finalizing a partnership to expand European private credit origination. Separately, Arcmont Asset Management pe-insights.com has secured $1.62 billion for its complex European private credit strategy. KKR pe-insights.com is adapting its $13 billion FSK fund to the shifting private credit landscape, while Blackstone pe-insights.com has priced a $400 million 2029 bond for one of its private credit funds amid software market volatility.
Firm Leadership & Strategy
Carlyle Group pe-insights.com has set an ambitious target of raising at least $200 billion in inflows by 2028 as its turnaround efforts gain traction. Sverica pehub.com has promoted Michael Dougherty to partner and Doug Patrican to principal while also hiring Matt Johnson as a principal. Clearlake's José E. Feliciano pehub.com commented on AI disruption in the market, noting that buying software businesses has become challenging. Additionally, Permira pehub.com has named Giorgio Dinaro as the new head of its Milan office.
Platform Investments
Searchlight and Abry pehub.com are taking Io T company Kore private for $726 million at $9.25 per share. Brookfield-backed Radiant pehub.com has merged with Ori Industries, combining Ori's distributed AI infrastructure platform with Radiant's global infrastructure capabilities. In the healthcare sector, Zenex Animal Health pehub.com, backed by Multiples PE, has acquired Netherlands-based Vieve Pharm, which specializes in phytogenic formulations for livestock, equine, and pet care markets.
Industry Outlook
Blackstone's Verdun Perry pehub.com predicts that 2026 will be a record year for exits and secondaries volume, with exit activity expected to grow 30%-40%. At the NEXUS conference, CalPERS' Marcie Frost pehub.com emphasized the pension fund is not selling assets just to meet payroll obligations but to be involved in growing ecosystems. The secondaries market secondariesinvestor.com continues to evolve with increased LP selling and a new normal for continuation vehicles as investors seek greater liquidity.