Private Equity 3d Briefing
×Major Deals & Takeovers
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. Advent International pe-insights.com is among potential bidders for Senior plc, which disclosed it has received five takeover offers valuing the UK engineering group at $1.78 billion. CD&R’s $6.2bn pe-insights.com Sealed Air takeover won shareholder backing and EU clearance, advancing the packaging giant’s acquisition. Blackstone pe-insights.com, CVC and Brookfield have submitted preliminary bids valuing Volkswagen’s diesel engine unit Everllence at around €8 billion ($9.44 .
Fundraising & Capital Raises
Carlyle Group pe-insights.com expects to raise at least $200 billion in inflows by the end of 2028 as its turnaround gains traction. Novacap pe-insights.com closed its Technologies Fund VII at nearly $3.8 billion, exceeding its $2.75 billion target by over $1 billion. Arcmont Asset Management pe-insights.com completed the final close of Capital Solutions Fund II at $1.62 billion for complex European private credit strategies. Searchlight Capital pehub.com and Abry Partners will take Io T company Kore private for $726 million at $9.25 per share.
GP Movements & Strategy
Sverica pehub.com promoted Michael Dougherty to partner and Doug Patrican to principal, while also hiring Matt Johnson as a principal. DPI pehub.com named Sofiane Lahmar as its new CEO, where he 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, who joined as an associate in 2016.
Portfolio Company Activity
Falfurrias-backed Woven Solutions pehub.com acquired government consultancy Valence, a Reston, Virginia-based provider of software for the national security community. Multiples PE-backed Zenex Animal Health pehub.com picked up Netherlands-based Vieve Pharm, recognized for its expertise in phytogenic formulations for livestock, equine, and pet care markets. Renovus-backed Solomon Edwards pehub.com snapped up consulting and recruiting firm CFO’s Domain. Genstar-backed Docupace pehub.com acquired fintech firm Invest Edge to expand its AI-enabled back-office and compliance software for wealth management.
Secondaries & Credit Markets
KKR’s $13bn FSK fund pe-insights.com is adapting to the shifting private credit landscape amid rising troubled loans and lower fourth-quarter performance. Blackstone private credit fund pe-insights.com priced a $400 million 2029 bond amid software volatility concerns. Apollo Global Management pe-insights.com and BNP Paribas are close to finalising a partnership to originate European private credit deals. CalPERS pe-insights.com remains confident in its private credit exposure despite rising AI-driven software risks in the $1.8 trillion market.
Sector-Specific Moves
Private equity pe-insights.com is backing next-generation football formats with over $185 million in capital, flowing into digital-first, small-sided football leagues. 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. Tonka Bay pehub.com backed home services marketing platform Camp Digital, where founder Katie Donovan and COO Meg Stapleton will continue to lead the company.
Exit Activity & Portfolio Sales
EQT pehub.com sold its remaining shares in Azelis for €190 million, exiting the service provider for specialty chemicals and food ingredients. IOP pehub.com agreed to sell retail fixtures provider Royston to LSI Industries for $320 million, expected to close in LSI’s third quarter of fiscal 2026. Wynnchurch pehub.com will acquire Arcosa’s barge business for $450 million, targeting the Dallas-based infrastructure products provider’s marine segment.
Leadership Changes
Astorg pehub.com’s mid-cap co-head Edouard Pillot will leave the firm, with Lionel de Posson taking sole control of the team. Permira pehub.com named Giorgio Dinaro as head of Milan, succeeding Francesco Pascalizi who held the role since 2019. Clearlake’s José E. Feliciano pehub.com noted that buyout activity in software businesses has become challenging amid AI disruption concerns.
Emerging Trends & Market Commentary
At PEI Group’s NEXUS 2026 conference, attendees discussed how secondaries’ 2026 blueprint secondariesinvestor.com will see increased LP selling and a new normal for continuation vehicles. GP-led credit market secondariesinvestor.com is exploring different deal and return opportunities as growth continues, with asset selection becoming crucial. Younger, high-quality portfolios secondariesinvestor.com are gaining ground in the LP-led market as investors focus on cherry-picking top assets.
Other Notable Moves
Brookfield-backed Radiant pehub.com merged with Ori Industries, combining Ori’s distributed AI infrastructure platform with Radiant’s global capabilities. North Current-backed On Track pehub.com picked up Carey’s Seamless Gutters & Overhead Doors, expanding its residential and commercial garage door services. Fusion Capital-backed Tavoron pehub.com acquired factory automation distributor Doig Corp to strengthen its automation, robotics, and industrial solutions offerings.