Private Equity 3d Briefing
×Leadership Changes
Sverica pehub.com promoted Michael Dougherty to partner and Doug Patrican to principal while adding Matt Johnson as a principal. DPI pehub.com appointed Sofiane Lahmar as new CEO after he served as senior partner since 2010. Astorg pehub.com will see mid-cap co-head Edouard Pillot depart as Lionel de Posson takes sole control of the team.
Fundraising & Portfolio Moves
Wise Equity pehub.com is investing in vending machine manufacturer FAS International, which closed 2025 with revenues exceeding €58 million and EBITDA margin above 20 percent. Searchlight pehub.com and Abry Partners are taking IoT company Kore private for $726 million at $9.25 per share. Falfurrias-backed pehub.com Woven Solutions acquired government consultancy Valence, a Reston, Virginia-based provider of software for the national security community.
Major 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 deal. Advent International pe-insights.com is among suitors for Senior plc, which disclosed five takeover approaches valuing the company at approximately $1.78 billion. Advent pe-insights.com finalized its acquisition of Southeast Europe's fast-growing tbi bank after receiving European regulatory clearance. Multiples PE-backed pehub.com Zenex Animal Health acquired Netherlands-based Vieve Pharm, recognized for phytogenic formulations in livestock, equine, and pet care markets.
Private Credit Developments
FS KKR Capital Corporation pe-insights.com reported increased troubled loans and lower fourth-quarter performance as its $13 billion FSK fund adapts to the shifting private credit landscape. Blackstone's private credit fund pe-insights.com priced a $400 million 2029 bond amid software volatility. Calpers pe-insights.com remains confident in its private credit exposure despite rising AI-driven software risks in the $1.8 trillion market. KKR's pe-insights.com $13 billion FSK fund is navigating challenges in the private credit sector.
Strategic Reviews & Bids
Volkswagen AG's pe-insights.com diesel engine unit Everllence has drawn preliminary bids valuing it at around €8 billion from Blackstone, CVC, and Brookfield. Saudi AI boom pe-insights.com is attracting buyout interest as Quantum Switch Tamasuk evaluates strategic options including a potential sale of its Saudi operations. Senior plc disclosed it has received five takeover approaches valuing the company at approximately $1.78 billion.
Industry Trends
Private equity firms including Kinderhook, Renovus, and Revelstoke are pursuing investments in hospice care platforms, with five recent deals highlighting growth in the sector. The Saudi AI boom is drawing significant buyout interest as companies like Quantum Switch Tamasuk explore strategic options. Software volatility continues to impact private credit markets, with firms like Blackstone pricing bonds amid market uncertainty.
Conference Insights
The recent NEXUS conference highlighted key industry dynamics, including discussions about the "Goldman handful" and challenges facing the private equity sector, described by some as a "zombie apocalypse" scenario. These insights underscore the evolving landscape of private equity as firms navigate economic uncertainty and market volatility.