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 takeover. Meanwhile, Advent International pe-insights.com is among potential bidders for Senior plc, which disclosed it has received five takeover approaches valuing the company at $1.78 billion. In Southeast Europe, Advent pe-insights.com has finalized its acquisition of tbi bank after receiving regulatory clearance from the European Commission.
Fundraising & Fundraising
Carlyle Group pe-insights.com expects to raise at least $200 billion in inflows by the end of 2028 as its turnaround gains traction. Arcmont Asset Management pe-insights.com has completed the final close of Capital Solutions Fund II and associated vehicles at $1.62 billion for its complex European private credit strategy. KKR's pe-insights.com $13 billion FSK fund is adapting to the shifting private credit landscape, while Blackstone pe-insights.com has priced a $400 million 2029 bond through its private credit fund amid software volatility concerns.
Portfolio Moves & Exits
EQT pehub.com has sold its remaining shares in Azelis for €190 million, exiting its position in the specialty chemicals and food ingredients service provider. IOP pehub.com is selling retail fixtures provider Royston to LSI Industries for $320 million, with the transaction expected to close in LSI's third quarter of fiscal 2026. Behrman pehub.com has sold Waterline Renewal Technologies to New Mountain-based Azuria, bringing together brands including Perma-Liner and APM.
Strategic Investments
Searchlight and Abry Partners pehub.com are taking Io T company Kore private for $726 million at $9.25 per share. Multiples-backed Zenex Animal Health pehub.com has acquired Netherlands-based Vieve Pharm, recognized for its expertise in phytogenic formulations for livestock and pet care markets. Trive Capital pehub.com has invested in Rolfson Oil, which subsequently acquired Flint Logistics Group, an Oklahoma City-based provider of fuel and lubricants.
Leadership Changes
Sverica pehub.com has promoted Michael Dougherty to partner and Doug Patrican to principal, while also hiring Matt Johnson as a principal. DPI pehub.com has named Sofiane Lahmar as its new CEO, with Lahmar serving as a senior partner since joining in 2010. Cavu pehub.com has promoted Jared Jacobs to managing partner after he joined the firm in 2017. Encore pehub.com has promoted Paul Rivenburgh to managing director, who joined the firm in 2016 as an associate.
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" amid AI disruption concerns. Calpers pe-insights.com remains confident in its private credit exposure despite rising AI-driven software risks in the $1.8 trillion market. Blackstone's Foley and Khan pehub.com highlighted electrical products distributor Arlington's add-on potential as the energy transition fund group has been involved with nine deals ranging from $800 million to $6.5 billion.
Secondary Market Developments
The secondaries market is exploring different deal and return opportunities as growth continues, with the ability to select assets and ensure alignment with GPs supporting performance of credit GP-led deals, according to Olga Kosters of Antares. CPP Investments secondariesinvestor.com will consider secondaries sales to "trim older exposure" while aiming to deploy about C$20 billion into private equity this year.
Platform Building & Add-Ons
Falfurrias-backed Woven Solutions pehub.com has acquired government consultancy Valence, a Reston, Virginia-based provider of software for the national security community. Renovus-backed Solomon Edwards pehub.com has snapped up consulting and recruiting firm CFO's Domain. Gemspring-backed Zavation pehub.com has acquired Choice Spine, expanding its spinal implants and interventional spine products portfolio.
Emerging Sectors
Private equity firms are eyeing growth in hospice care platforms, with Kinderhook, Renovus, and Revelstoke among those pursuing investments in the market. The Saudi AI boom is drawing buyout interest as Quantum Switch Tamasuk explores strategic options including a potential sale of its Saudi operations. Tonka Bay pehub.com has backed home services marketing platform Camp Digital, with founder Katie Donovan and COO Meg Stapleton continuing to lead the company.
Regional Activity
Wise Equity pehub.com is investing in vending machine manufacturer FAS International, which closed 2025 with revenues exceeding €58 million and an EBITDA margin above 20 percent. Bridgepoint pehub.com has invested in Gold State Music, with capital supporting a dedicated investment program focused on building and scaling music-oriented businesses. Terminus pehub.com has invested in fintech firm Eventus, which will increase investment in product innovation and platform capabilities under majority ownership.
Exit Strategies
Oaktree Capital Management pe-insights.com is exploring a sale or London IPO of Utmost Group, the UK wealth manager valued at approximately $2.7 billion. The pension giant aims to deploy about C$20 billion into private equity this year, global head of PE Caitlin Gubbels tells PEI.