Private Equity 3d Briefing
×Major Takeovers and 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. Meanwhile, Advent International pe-insights.com is among potential bidders for Senior plc, which disclosed it has received five takeover offers totaling $1.78 billion. Advent pe-insights.com has also finalized its acquisition of Southeast Europe's fast-growing tbi bank after receiving regulatory clearance from the European Commission.
Searchlight and Abry pehub.com will take IoT company Kore private for $726 million, acquiring all issued and outstanding shares not already owned at $9.25 per share. Falfurrias-backed Woven Solutions pehub.com has acquired government consultancy Valence, a Reston, Virginia-based provider of software 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.
Fundraising and Investment Activity
Fund Friday highlights pe-insights.com top fundraising news in private equity, with FS KKR Capital Corporation reporting an increase in troubled loans and lower fourth-quarter performance. KKR's $13 billion FSK fund pe-insights.com is adapting to the shifting private credit landscape, while Blackstone's private credit fund pe-insights.com has priced a $400 million 2029 bond amid software volatility concerns.
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 ability to select assets and ensure alignment with GPs will support the performance of credit GP-led deals, according to Olga Kosters, head of credit secondaries at Antares.
Leadership Changes and Promotions
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, who has been a senior partner at the firm since joining in 2010. Encore pehub.com has promoted Paul Rivenburgh to managing director, who joined the firm in 2016 as an associate.
Astorg's mid-cap co-head Edouard Pillot pehub.com is set to leave the firm, with Lionel de Posson, his fellow co-head, taking sole control of the team. These leadership changes reflect ongoing evolution in private equity firm structures and strategies.
Strategic Investments and Market Trends
Wise Equity pehub.com will invest in vending machine manufacturer FAS International, which closed 2025 with revenues exceeding €58 million and an EBITDA margin above 20 percent. 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.
Private equity pehub.com is eyeing growth in hospice care platforms, with Kinderhook, Renovus, and Revelstoke among the firms pursuing investments in the hospice care market. Private equity's expanding playbook pehub.com now includes accounting and consulting firms, as investors see consolidation opportunities to build national platforms across the country's tens of thousands of CPA firms.
Secondary Markets and Exit Activity
EQT pehub.com has sold its remaining shares in Azelis for €190 million, exiting its position in the service provider for specialty chemicals and food ingredients industry. The secondary markets are preparing for 2026 with expectations of increased LP selling and a new normal for carried interest, according to attendees at PEI Group's NEXUS 2026 conference.
The GP-led credit market is exploring different deal and return opportunities as growth continues, with the ability to select assets and ensure alignment with GPs expected to support performance. Saudi Arabia's AI boom is drawing buyout interest as QST explores strategic options, with Quantum Switch Tamasuk evaluating potential sales of its Saudi operations.
Industry Insights and Challenges
Private equity's problems ft.com are explained in one blow-up, with business development company FSK's latest filings offering a look at unraveling buyout deals. The 'Goldman handful' and the zombie apocalypse were key takeaways from NEXUS, highlighting the challenges facing the industry.
Plaid has returned to an $8 billion valuation in an employee liquidity funding round, securing funding designed to provide liquidity to employees. Camp Digital, a home services marketing platform, has received backing from Tonka Bay, with founder and CEO Katie Donovan and chief operating officer Meg Stapleton continuing to lead the company.