Private Equity 3d Briefing
×Fundraising & Fundraising Moves
Carlyle pe-insights.com is targeting $200 billion in inflows by 2028 as its turnaround gains traction. The firm expects to raise at least $200 billion in inflows by the end of 2028, signaling confidence in its strategy despite private equity headwinds. Meanwhile, FSK Capital pe-insights.com, KKR's $13 billion publicly traded private credit vehicle, is adapting to the shifting private credit landscape while reporting increased troubled loans and lower fourth-quarter performance.
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. The consortium is positioning itself for a significant energy sector consolidation. Separately, Volkswagen pe-insights.com has received preliminary bids valuing its diesel engine unit Everllence at around €8 billion, with Blackstone, CVC, and Brookfield among the bidders for the carve-out.
Secondary Market Developments
The secondary market is exploring different deal and return opportunities as growth continues, according to NEXUS conference insights. Olga Kosters secondariesinvestor.com, head of credit secondaries at Antares, noted that the ability to select assets and ensure alignment with GPs will support the performance of credit GP-led deals. Additionally, CPP Investments secondariesinvestor.com is considering secondaries sales to trim older exposure while aiming to deploy about C$20 billion into private equity this year.
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 having been a senior partner at the firm since joining in 2010. Cavu pehub.com has promoted Jared Jacobs to managing partner after he joined the firm in 2017.
Portfolio Company Activity
Falfurrias-backed Woven Solutions pehub.com has acquired government consultancy Valence, expanding its software offerings for the national security community. Multiples PE-backed Zenex Animal Health pehub.com has picked up Netherlands-based Vieve Pharm, recognized for its expertise in phytogenic formulations for livestock, equine, 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, oils, and lubricants.
Strategic Exits & IPOs
EQT pehub.com has sold its remaining shares in Azelis for €190 million, completing its exit from the service provider for specialty chemicals and food ingredients industry. Arcmont Asset Management pe-insights.com has secured €1.62 billion for its complex European private credit strategy through the final close of Capital Solutions Fund II and associated vehicles.
Industry Trends & Insights
Clearlake's José E. Feliciano pehub.com noted that AI disruption is causing investors to lump everything into the same bucket, making buyouts of software businesses particularly challenging in the current environment. Inflexion's John DiGiovanni pehub.com sees exciting AI use cases in healthcare, while Victor Capital's Doug Korn believes tariff risk has peaked. The accounting and consulting sector is seeing increased private equity interest, with investors viewing consolidation opportunities among tens of thousands of CPA firms across the country.
Regional Market Activity
Saudi Arabia's AI boom pe-insights.com is drawing significant buyout interest as QST explores strategic options, including a potential sale of its Saudi operations. Advent International pe-insights.com has finalized its acquisition of Southeast Europe's fast-growing tbi bank after receiving regulatory clearance from the European authorities. The Nordic data center sector is active, with Equinix pe-insights.com and CPPIB nearing a $4 billion deal for Nordic data center operator at North.
Risk & Market Sentiment
Calpers pe-insights.com remains confident in its private credit exposure despite rising AI-driven software risks in the $1.8 trillion private credit market. The pension giant is unfazed by potential volatility, maintaining its investment strategy. Meanwhile, Blackstone's private credit fund pe-insights.com has priced a $400 million 2029 bond amid software volatility, demonstrating continued market activity despite sector challenges.
Fund Performance & Returns
La Caisse pe-insights.com has grown to $378 billion after generating a 9.3% overall return in 2025, despite private equity headwinds. The Canadian pension fund's strong performance highlights the potential for returns even in challenging market conditions. Blackstone's Foley and Khan pehub.com have identified add-on potential for electrical products distributor Arlington, with Blackstone's energy transition fund group involved in nine deals ranging from $800 million to $6.5 billion as buyer or seller in recent months.
Emerging Sectors
Private equity is eyeing growth in hospice care platforms, with Kinderhook pehub.com, Renovus, and Revelstoke among the firms pursuing investments in the hospice care market. The vending machine manufacturer sector is also attracting interest, with Wise Equity pehub.com investing in FAS International, which closed 2025 with revenues exceeding €58 million and an EBITDA margin above 20 percent."