Private Equity 3d Briefing
×Leadership & Promotions
Sverica pehub.com promoted Michael Dougherty to partner and elevated Doug Patrican and Matt Johnson to principal roles. DPI pehub.com appointed Sofiane Lahmar as its new CEO, succeeding the founding partner. Encore pehub.com advanced Paul Rivenburgh to managing director from his 2016 associate start. Cavu pehub.com tapped Jared Jacobs as managing partner after he joined in 2017. Permira pehub.com named Giorgio Dinaro to head its Milan office, replacing Francesco Pascalizi.
Mega-Deals & Takeovers
BlackRock’s GIP pe-insights.com and EQT are in advanced discussions for a potential $12.4 billion takeover of US power producer AES. Blackstone pe-insights.com, CVC and Brookfield submitted preliminary bids valuing Volkswagen’s diesel engine unit Everllence at around €8 billion ($9.44 . Advent International pe-insights.com is among suitors for UK engineering group Senior plc, which has drawn $1.78 billion in takeover interest. Searchlight pehub.com and Abry agreed to take Io T company Kore private for $726 million. CD&R pe-insights.com secured shareholder and EU approval for its $6.2 billion acquisition of Sealed Air.
Fundraising & Capital
Carlyle Group pe-insights.com set a target of $200 billion in inflows by 2028 as its turnaround gains traction. Arcmont pe-insights.com closed its European private credit fund with $1.62 billion. FS KKR pe-insights.com, KKR’s publicly traded private credit vehicle, reported increased troubled loans and lower fourth-quarter results. Blackstone’s private credit fund pe-insights.com priced a $400 million bond despite software sector volatility. La Caisse pe-insights.com grew assets to $378 billion after a 9.3% return in 2025, weathering PE headwinds.
Private Credit & Distress
Calpers pe-insights.com remains confident in its private credit exposure despite AI-driven software risks in the $1.8 trillion market. FS KKR pe-insights.com is adapting its $13 billion fund to the shifting private credit landscape. Apollo and BNP Paribas are finalizing a partnership to expand European private credit originations. Oaktree pe-insights.com is exploring a $2.7 billion sale or IPO for UK wealth manager Utmost Group.
Secondaries & GP-Led
The GP-led credit market is exploring varied deal structures, with alignment and asset selection key to performance, according to Antares secondariesinvestor.com. At the NEXUS conference, attendees predicted more LP selling and a new normal for continuation fund valuations in 2026, per Secondaries Investor secondariesinvestor.com. Ardian secondariesinvestor.com noted the secondaries market has evolved into one focused on "cherry picking" high-quality portfolios. CPP Investments secondariesinvestor.com will consider secondaries sales to trim older private equity exposure while deploying about C$20 billion this year.
Sector Consolidation
Multiples pehub.com-backed Zenex Animal Health acquired Netherlands-based Vieve Pharm, boosting its phytogenic formulations. Falfurrias pehub.com-backed Woven Solutions acquired government consultancy Valence. Renovus pehub.com-backed Solomon Edwards bought CFO’s Domain, a consulting and recruiting firm. Gemspring pehub.com-backed Zavation acquired Choice Spine, expanding its spinal implant portfolio. Insight Equity pehub.com purchased aerosol products maker IKI. Tonka Bay pehub.com invested in Camp Digital, a home services marketing platform. Wise Equity pehub.com committed to FAS International, a vending machine manufacturer. Baird pehub.com backed Auto Loto, a digital worker safety firm. Bridgepoint pehub.com invested in Gold State Music to scale music businesses. Trive Capital pehub.com backed Rolfson Oil, which then acquired Flint Logistics. Behrman pehub.com sold Waterline Renewal Technologies to New Mountain Capital’s Azuria. IOP pehub.com agreed to sell Royston to LSI Industries for $320 million. EQT pehub.com sold its remaining shares in Azelis for €190 million.
Healthcare & AI
PE firms are eyeing hospice care platforms, with Kinderhook pehub.com, Renovus and Revelstoke among those pursuing deals. Inflexion’s pehub.com John Di Giovanni cited exciting AI use cases in healthcare, while Victor Capital’s Doug Korn believes tariff risk has peaked. Clearlake’s pehub.com José E. Feliciano warned that buyouts of software businesses are currently "a four-letter word" due to AI disruption.
Tech & Software
Plaid pe-insights.com returned to an $8 billion valuation in an employee liquidity funding round. Content monetization firm Stay22 pehub.com raised $122 million from Summit Partners for global expansion. Terminus pehub.com invested in fintech firm Eventus to boost product innovation and global reach. Equinix pe-insights.com and CPPIB are near a $4 billion deal for Nordic data centre operator at North.
Auto & Industrials
Toyota pe-insights.com plans to unwind ¥3 trillion ($19 in cross-shareholdings amid a reform drive. Blackstone pehub.com executives highlighted add-on potential for electrical distributor Arlington, part of its energy transition fund’s active deal pipeline.
Saudi AI & Telecom
Quantum Switch Tamasuk pe-insights.com is evaluating strategic options, including a potential sale, as Saudi Arabia’s AI boom attracts buyout interest.