Private Equity 3d Briefing
×Leadership Moves
Sverica Capital 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 its new CEO, who has been a senior partner at the firm since 2010.
Fundraising & Credit
KKR's FSK Capital pe-insights.com reported increased troubled loans and lower fourth-quarter performance as its $13 billion 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 concerns. FS KKR Capital Corporation pe-insights.com also disclosed rising troubled loans in its latest filings. Calpers pe-insights.com remains confident in its $1.8 trillion private credit exposure despite AI-driven software risks.
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. Blackstone, CVC, and Brookfield pe-insights.com submitted preliminary bids valuing Volkswagen's diesel engine unit Everllence at around €8 billion. Advent International pe-insights.com is among potential bidders for Senior plc, which disclosed five takeover approaches valuing the company at $1.78 billion. Advent pe-insights.com also finalized its acquisition of Southeast Europe's fast-growing tbi bank after receiving European regulatory clearance.
Platform Acquisitions
Falfurrias-backed Woven Solutions pehub.com acquired government consultancy Valence, a Reston, Virginia-based provider of software for the national security community. Multiples PE-backed Zenex Animal Health pehub.com purchased Netherlands-based Vieve Pharm, recognized for its expertise in phytogenic formulations for livestock, equine, and pet care markets. 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.
Going Private Transactions
Searchlight and Abry Partners pehub.com agreed to take IoT company Kore private for $726 million, acquiring all issued and outstanding shares not already owned at $9.25 per share. Francisco Partners completed a $2.2 billion take-private of Jamf.
Strategic Reviews
Quantum Switch Tamasuk pe-insights.com is evaluating strategic options including a potential sale of its Saudi operations amid growing AI boom interest in the region. Senior plc received five takeover approaches from various suitors including Advent International.
Industry Trends
Private equity firms including Kinderhook, Renovus, and Revelstoke pehub.com are pursuing investments in the hospice care market. Astorg pehub.com will have Lionel de Posson take sole control of its mid-cap team after Edouard Pillot's departure. Industry conferences highlighted concerns about a "zombie apocalypse" in the sector alongside discussions of the "Goldman handful" dominating deal flow.