Private Equity 3d Briefing
×Executive Moves & Leadership Changes
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 new CEO, with Lahmar serving as 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 the firm in 2016 as an associate. Sterling pehub.com tapped Noah Bishop for SVP, focusing on sourcing and evaluating new platform investments.
Major Takeovers & Acquisitions
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 suitors for Senior plc, which disclosed five takeover bids worth $1.78 billion. Advent pe-insights.com sealed its takeover of Southeast Europe's fast-growing tbi bank after regulatory clearance. Searchlight and Abry pehub.com will take Io T company Kore private for $726 million at $9.25 per share. Falfurrias-backed Woven Solutions pehub.com acquired government consultancy Valence. Multiples PE-backed Zenex Animal Health pehub.com picked up Netherlands-based Vieve Pharm, recognized for phytogenic formulations. Trive Capital pehub.com invested in Rolfson Oil, which subsequently acquired Flint Logistics Group. Gemspring-backed Zavation pehub.com picked up Choice Spine, expanding its spinal implants portfolio. Insight Equity pehub.com scooped up aerosol products maker IKI, serving consumer and professional products companies. IOP pehub.com will sell retail fixtures provider Royston to LSI Industries for $320 million, expected to close in LSI's third quarter of fiscal 2026.
Fundraising & Investment Activity
Carlyle Group pe-insights.com set a $200 billion inflow target by 2028 as its turnaround gains traction. Arcmont Asset Management pe-insights.com secured $1.62 billion for its complex European private credit strategy. 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, with founder Katie Donovan and COO Meg Stapleton continuing to lead. Terminus pehub.com invested in fintech firm Eventus to boost product innovation and global expansion. Bridgepoint pehub.com invested in Gold State Music to support building and scaling music-oriented businesses.
Portfolio Companies & Exits
EQT pehub.com sold its remaining shares in Azelis for €190 million. Renovus-backed Solomon Edwards pehub.com snapped up consulting and recruiting firm CFO's Domain. Behrman pehub.com sold Waterline Renewal Technologies to New Mountain-based Azuria. La Caisse pe-insights.com grew to $378 billion after a 9.3% return amid PE headwinds. CPP Investments secondariesinvestor.com will mull secondaries sales to trim older exposure while targeting C$20 billion in private equity deployment this year.
Credit Market Developments
FS KKR Capital Corporation pe-insights.com reported increased troubled loans and lower fourth-quarter results, adapting to the shifting private credit landscape. KKR's $13 billion FSK fund pe-insights.com faces similar challenges. Blackstone's private credit fund pe-insights.com priced a $400 million 2029 bond amid software volatility. FSK's latest filings ft.com offer a look at unravelling buyout deals, highlighting private equity's problems. Arcmont completed fundraising for its European private credit strategy. Apollo Global Management and BNP Paribas pe-insights.com are close to finalising a partnership to originate European private credit deals.
GP-Led & Secondary Market Activity
The GP-led credit market explores different deal and return opportunities as growth continues, with the ability to select assets and ensure alignment with GPs supporting performance, according to Olga Kosters of Antares. Secondaries' 2026 blueprint secondariesinvestor.com anticipates increased LP selling and a new normal for CVs. Permira pehub.com appointed Giorgio Dinaro as head of Milan, succeeding Francesco Pascalizi.
Industry Trends & Commentary
Clearlake's José E. Feliciano pehub.com noted that "doing a buyout of a software business or a take-private of a software business right now is probably a four-letter word" due to AI disruption concerns. Inflexion's John Di Giovanni pehub.com sees "exciting" AI use cases in healthcare, while Victor Capital's Doug Korn says tariff risk has peaked. Blackstone's Foley and Khan pehub.com highlighted electrical products distributor Arlington's add-on potential. Calpers pe-insights.com remains unfazed by AI-driven software risks in the $1.8 trillion private credit market. Private equity's expanding playbook pehub.com targets accounting and consulting firms for consolidation opportunities. PE eyes growth in hospice care platforms pehub.com with multiple firms pursuing investments.
Strategic Reviews & Potential Sales
Saudi AI boom draws buyout interest pe-insights.com as QST explores strategic options, with Quantum Switch Tamasuk evaluating a potential sale of its Saudi operations. Oaktree Capital Management pe-insights.com explores $2.7 billion exit options for UK wealth manager Utmost, including a sale or London IPO. Toyota Motor Corp. pe-insights.com plans to unwind approximately ¥3 trillion in strategic shareholdings held by banks amid reform drive.