Private Equity 3d Briefing
×Major Deals & Exits
Lone Star pehub.com completed a $4.7 billion sale of SPX Flow to ITT, marking a successful exit from its 2022 take-private acquisition. Boyne Capital pehub.com sold McKee Utility Contractors to Mastec Inc for an undisclosed amount, following its December 2022 recapitalization partnership with management.
BCP pehub.com sold United Utility Services to Sandbrook, transferring a company that supports utilities, cooperatives, and municipalities through the full asset lifecycle. Trilogy-backed SSRG pehub.com acquired Elite Residential Concierge, expanding its security and risk management business based in Calgary.
Warburg Pincus pe-insights.com is preparing to invest up to $1 billion in Global Eggs, targeting an $8 billion egg empire. Bain Capital pehub.com announced an investment in Tingstad, a Swedish family-owned specialist distributor of non-food consumables serving Ho Re Ca, culture, facilities management, grocery, and retail sectors.
Meritus Gas Partners pehub.com, a portfolio company of AEA Investors, expanded through its subsidiary's acquisition of Greens Welding Supply. CVC and Hartenberg-backed FutureLife pehub.com acquired Herts & Essex Fertility Centre, bringing its UK operations to three centers.
BlackRock's GIP and EQT pe-insights.com are in advanced discussions to acquire US power producer AES in a potential $12.4 billion takeover, creating one of the largest infrastructure deals in recent years.
Fundraising & Co-Investments
HgT pe-insights.com deployed approximately $62 million into new co-investments in One Stream and Septeo, demonstrating continued confidence in enterprise software platforms. Gemspring pehub.com expanded its investment in construction tech firm Sitemetric, providing additional capital to support product innovation, geographic expansion, and service capabilities.
Orion Resource Partners, CGF, and Exiro Minerals Corp pehub.com formed Exiro Nickel Company to invest up to $200 million in the Thompson Mine Complex alongside Vale, creating a new entity for this strategic mining investment.
Industry Recognition
The Secondaries Awards 2025 recognized top performers across regions: Goldman Sachs Asset Management secondariesinvestor.com won Secondaries Firm of the Year in the Americas, Ardian secondariesinvestor.com claimed the title in EMEA, and Asia-Pacific winners were announced for top secondaries deals, firms, law firms, and advisers.
Leadership Changes
Littlejohn pehub.com appointed Shant Mardirossian as managing director and COO, creating a newly expanded role where he will work closely with managing partners across finance, legal & compliance, operations, and investor relations teams. Sverica pehub.com promoted Michael Dougherty to partner and Doug Patrican to principal, while also hiring Matt Johnson as a principal.
Aurelius pehub.com opened three new offices in Amsterdam, Milan, and Zurich, targeting substantial potential within the local SME sector across these European markets.
Market Insights
Tariff uncertainty continues to complicate valuations, according to Alvarez & Marsal pehub.com, as firms navigate the complex macroeconomic environment. Hellman & Friedman's Patrick Healy pehub.com told PEI Group's Philip Borel at NEXUS 2026 that "reality is rarely defeated" and emphasized the importance of having multiple tools to return capital to investors.
The conference also highlighted concerns about a potential "zombie apocalypse" in private equity, with industry leaders discussing strategies to address underperforming assets and market challenges.
Strategic Partnerships
Coller Capital pe-insights.com formed a distribution partnership with Mediobanca Private Banking to expand evergreen secondaries access in Italy, creating new opportunities for investors in the European market.