Private Equity 3d Briefing
×Major PE Deals
BlackRock's GIP and EQT pe-insights.com are in advanced discussions to acquire US power producer AES for $12.4 billion, marking one of the largest infrastructure deals of the year. Meanwhile, Blackstone, CVC and Brookfield pe-insights.com have submitted preliminary bids for Volkswagen's diesel engine unit Everllence, valuing the carve-out at around €8 billion. Searchlight and Abry Partners pehub.com are taking IoT company Kore private for $726 million at $9.25 per share, while Multiples-backed Zenex Animal Health pehub.com acquired Netherlands-based Vieve Pharm to expand its veterinary product portfolio.
Fundraising & Credit
KKR's $13 billion FSK fund pe-insights.com is adapting to the shifting private credit landscape as troubled loans increase, according to recent filings. Blackstone's private credit fund pe-insights.com priced a $400 million 2029 bond amid growing volatility in software investments. FSK's latest filings ft.com reveal the unraveling of several buyout deals, highlighting challenges in the $1.8 trillion private credit market. Calpers pe-insights.com remains confident in its private credit exposure despite rising AI-driven software risks.
Leadership Changes
Sverica Capital pehub.com promoted Michael Dougherty to partner and Doug Patrican to principal, while also hiring Matt Johnson as a principal. DPI pehub.com appointed Sofiane Lahmar as its new CEO, who has served as senior partner since 2010. Encore pehub.com promoted Paul Rivenburgh to managing director after his tenure as an associate since 2016. Astorg pehub.com faces leadership changes as mid-cap co-head Edouard Pillot prepares to depart, leaving Lionel de Posson in sole control of the team.
Strategic Moves
Advent International pe-insights.com is among five suitors interested in a $1.78 billion takeover of Senior plc, while Advent pe-insights.com has finalized its acquisition of Southeast Europe's fast-growing tbi bank after receiving European regulatory clearance. Wise Equity pehub.com is investing in FAS International, a vending machine manufacturer that closed 2025 with revenues exceeding €58 million and EBITDA margin above 20 percent. Trive Capital pehub.com invested in Rolfson Oil, which subsequently acquired Flint Logistics Group, an Oklahoma City-based fuel and lubricant provider.
Sector Trends
Private equity firms pehub.com are pursuing growth in hospice care platforms, with Kinderhook, Renovus and Revelstoke among those seeking investments in the sector. Investors are also eyeing consolidation opportunities in accounting and consulting firms, with tens of thousands of CPA firms across the country presenting potential platform-building opportunities. The Saudi AI boom is drawing buyout interest as Quantum Switch Tamasuk explores strategic options including a potential sale of its Saudi operations.
Secondary Markets
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 supporting performance. Industry experts at the recent NEXUS conference highlighted that credit GP-led deals are expected to maintain momentum. EQT pehub.com sold its remaining shares in Azelis for €190 million, providing liquidity to investors in the specialty chemicals sector.
Fundraising News
Recent fundraising activity includes various vehicles adapting to market conditions, with firms focusing on strategic deployment of capital in both traditional and emerging sectors. The private equity landscape continues to evolve with increased focus on operational improvements and technology integration across portfolio companies.