Private Equity 3d Briefing
×Major Deals & Takeovers
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. Advent International pe-insights.com is among potential bidders for Senior plc, which disclosed it has received five takeover approaches valuing the British engineering group at $1.78 billion. CD&R's $6.2 billion pe-insights.com Sealed Air takeover won shareholder backing and EU clearance, clearing the way for the packaging giant's acquisition. Blackstone, CVC and Brookfield pe-insights.com submitted preliminary bids valuing Volkswagen's diesel engine unit Everllence at around €8 billion.
Fundraising & Capital Markets
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 its European private credit strategy. KKR's $13 billion pe-insights.com FSK fund is adapting to the shifting private credit landscape with increased troubled loans reported in its latest filings.
Portfolio Company Moves
Searchlight and Abry Partners pehub.com will 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, a specialist in phytogenic formulations for livestock and pet care. 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 strengthen its AI-enabled wealth management software platform.
Leadership Changes
Sverica Capital 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 new CEO, with Lahmar serving as a senior partner since 2010. Encore pehub.com promoted Paul Rivenburgh to managing director after his 2016 associate hire. Cavu pehub.com promoted Jared Jacobs to managing partner following his 2017 joining. Astorg's mid-cap co-head Edouard Pillot pehub.com will leave the firm, with Lionel de Posson taking sole control of the team.
Secondaries & Liquidity
La Caisse pe-insights.com grew to $378 billion after a 9.3% return in 2025 despite private equity headwinds. CPP Investments secondariesinvestor.com will consider secondaries sales to "trim older exposure" while targeting $20 billion in private equity deployment this year. The secondaries market is seeing younger, high-quality portfolios gain ground as investors focus on asset selection and cherry-picking opportunities.
Strategic Moves & Market Trends
Clearlake's José E. Feliciano pehub.com noted that "doing a buyout of a software business right now is probably a four-letter word" amid AI disruption concerns. CalPERS pe-insights.com remains confident in its $1.8 trillion private credit exposure despite rising AI-driven software risks. Blackstone's energy transition fund pehub.com has been involved with nine deals ranging from $800 million to $6.5 billion as buyers or sellers in recent months.
Industry Consolidation
PE-backed Solomon Edwards pehub.com acquired consulting and recruiting firm CFO's Domain to expand its professional services platform. Renovus-backed Definian pehub.com purchased data analytics consultancy Incite to strengthen its Chicago-based data solutions offerings. ONCAP-backed Komar Industries pehub.com acquired waste services firm Metro to expand its waste and recycling processing solutions. Fusion Capital-backed Tavoron pehub.com picked up factory automation distributor Doig Corp to broaden its automation and robotics portfolio.
Regional & Sector Focus
Saudi AI boom pe-insights.com is drawing buyout interest as Quantum Switch Tamasuk explores strategic options including a potential sale. 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 pe-insights.com strengthened operational oversight at connected fitness portfolio company Tonal by appointing partner Todd Bartee as CEO.
Exit Activity
IOP pehub.com will sell retail fixtures provider Royston to LSI Industries for $320 million, with the transaction expected to close in LSI's third quarter of fiscal 2026. Tri West Capital pehub.com exited Peloton Computer Enterprises following a recapitalization transaction led by Carlyle Group. EQT pehub.com sold its remaining shares in Azelis for €190 million, completing its exit from the specialty chemicals service provider.
Emerging Opportunities
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. Bridgepoint pehub.com invested in Gold State Music to support a dedicated investment program focused on building and scaling music-oriented businesses. Behrman pehub.com sold Waterline Renewal Technologies to New Mountain-based Azuria, with Waterline's brands including Perma-Liner and APM.
Market Sentiment
The private equity landscape shows continued adaptation to market conditions, with firms focusing on strategic add-ons, operational improvements, and selective deployment of dry powder. While software valuations face pressure amid AI disruption concerns, industrial, healthcare, and infrastructure sectors remain active. The secondaries market continues to evolve with increased LP selling and a focus on asset selection, while fundraising remains robust for firms with strong track records and differentiated strategies.