Private Equity 3d Briefing
×Leadership Moves
Sverica pehub.com promoted Michael Dougherty to partner and Doug Patrican to principal while hiring Matt Johnson as a principal. DPI pehub.com named Sofiane Lahmar as new CEO, where he has served 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 as an associate in 2016.
Major Deals
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. Advent International pe-insights.com is among five suitors for Senior plc, which disclosed $1.78 billion in takeover interest. Searchlight and Abry pehub.com will take IoT company Kore private for $726 million at $9.25 per share. Falfurrias-backed Woven Solutions pehub.com acquired government consultancy Valence, a Reston-based software provider for national security. Multiples PE-backed Zenex Animal Health pehub.com purchased Netherlands-based Vieve Pharm, known for phytogenic formulations in livestock and pet care.
Fundraising & Strategy
Carlyle Group pe-insights.com expects to raise at least $200 billion in inflows by 2028 as its turnaround gains traction. Arcmont Asset Management pe-insights.com completed final close of Capital Solutions Fund II, securing $1.62 billion for complex European private credit. KKR's $13 billion FSK fund pe-insights.com is adapting to shifting private credit landscape amid rising troubled loans. Blackstone private credit fund pe-insights.com priced a $400 million 2029 bond amid software volatility. CPP Investments secondariesinvestor.com plans to deploy about C$20 billion into private equity this year while considering secondaries sales to trim older exposure.
Portfolio Activity
EQT pehub.com sold its remaining shares in Azelis for €190 million. Trive Capital pehub.com invested in Rolfson Oil, which subsequently acquired Flint Logistics Group. Renovus-backed SolomonEdwards pehub.com acquired CFO's Domain, a consulting and recruiting firm. Gemspring-backed Zavation pehub.com purchased Choice Spine, a spinal implant maker. 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.
Industry Trends
Clearlake's José E. Feliciano pehub.com warned 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. Calpers pe-insights.com remains confident in its $1.8 trillion private credit exposure despite rising AI-driven software risks. La Caisse pe-insights.com grew to $378 billion after a 9.3% return in 2025 amid private equity headwinds. Secondaries Investor secondariesinvestor.com outlined 2026 expectations including increased LP selling and a new normal for CVs.
Regional Focus
Advent International pe-insights.com finalized its acquisition of Southeast Europe's fast-growing tbi bank after receiving regulatory clearance. Saudi AI boom pe-insights.com is drawing buyout interest as Quantum Switch Tamasuk evaluates strategic options including a potential sale. 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.
Market Commentary
Private equity's problems ft.com are explained in one blow-up: Business development company FSK's latest filings reveal unravelling buyout deals. Private equity's expanding playbook pehub.com now includes accounting and consulting firms, with investors seeing consolidation opportunities among tens of thousands of CPA firms. GP-led credit market secondariesinvestor.com is exploring different deal and return opportunities as growth continues, with credit GP-led deals expected to benefit from asset selection and GP alignment.
People Moves
Astorg's mid-cap co-head Edouard Pillot pehub.com will leave the firm, with Lionel de Posson taking sole control of the team. Insight Equity pehub.com acquired aerosol products maker IKI, serving consumer and professional products companies. Terminus pehub.com invested in fintech firm Eventus, which will increase investment in product innovation under majority ownership. Bridgepoint pehub.com invested in Gold State Music to support building and scaling music-oriented businesses.
Specialized Sectors
PE eyes growth in hospice care platforms pehub.com with Kinderhook, Renovus and Revelstoke pursuing investments in the market. Sterling pehub.com hired Noah Bishop as senior vice president to focus on sourcing, evaluating and executing new platform investments. Behrman sold Waterline Renewal Technologies pehub.com to New Mountain-based Azuria, whose brands include Perma-Liner and APM. Tonka Bay backed home services marketing platform Camp Digital pehub.com, where founder Katie Donovan and COO Meg Stapleton will continue leading.