Private Equity 3d Briefing
×Secondaries & Continuation Funds
Bridgepoint secondariesinvestor.com is eyeing further secondaries growth as its Newbury team comes on board, with both Bridgepoint and Bridgepoint Newbury expected to launch their next flagship secondaries fund in 2026. Ares Management pe-insights.com has deployed an $850 million continuation strategy amid a record $240 billion secondaries wave, closing a vehicle to hold Convergint Technologies. The intersection of GP-led secondaries deals and evergreen funds is being examined as evergreen fund investment in GP-led transactions rises, with questions about compatibility given evergreen vehicles' periodic liquidity and diversification features. Carlyle's Steve Wise pehub.com notes the market is open for bigger, higher-quality businesses, while New Mountain's Neal Costello secondariesinvestor.com says the acceptance of continuation vehicles (CVs) makes this the right time for PE entrants. Moelis & Co's Jeff Hammer secondariesinvestor.com highlights that CVs are now established as an exit route alongside M&A and IPO, with secondaries buyers' specialization aiding GPs' interest in considering CVs in tandem with other options.
Fundraising & Investment Activity
Carlyle secondariesinvestor.com is seeking to raise $60 billion as part of a fundraising supercycle, targeting $200 billion-plus of capital inflows by 2028 with ambitious goals for private equity and global credit. Charterhouse Capital Partners pe-insights.com has secured a €1 billion first close for its new European mid-market fund. Hamilton Lane and Ardian pe-insights.com have backed Latour's first continuation fund for Gutor, with Hamilton Lane funds leading the closing of a single-asset continuation vehicle. Neuberger Berman pe-insights.com has led a $500 million Nvidia-backed Ayar Labs round at a $3.75 billion valuation. Capital Group and KKR pe-insights.com have expanded their public-private investment partnership with the launch of their first equity strategy.
Deal Making & Portfolio Activity
Mutares pehub.com is selling Peugeot Motocycles in a management buyout, with the European manufacturer of motorized two and three-wheeler vehicles transferring ownership to its management team. Visualize Group pehub.com has acquired gaming certification lab BMM Testlabs, which serves gaming product suppliers, operators, and regulators across six continents. Trinity Hunt pehub.com has invested in Berger Consulting Group, which serves over 100 law firm clients. Main Capital Partners pe-insights.com has acquired a majority stake in Swedish manufacturing software platform Good Solutions. Waterland Private Equity pe-insights.com has acquired a majority stake in Palletways, backing one of Europe's largest pallet distribution platforms. Waterland pehub.com has also scooped up Cooper Turner Beck Group, a provider of safety-critical fastener services.
European Market Developments
EQT, Eurazeo, and Atomico pe-insights.com have been shortlisted to run a $5.8 billion EU deep-tech fund, with Vitruvian Partners and Northzone also in contention to manage the European initiative. BCI, Norges Bank, and Brookfield pehub.com have launched Northview Energy, a new venture equally funded and owned by the three investors. Allianz Global Investors pe-insights.com has agreed to acquire a 50% stake in a portfolio of 11 German battery storage assets alongside Total Energies, committing $550 million to the portfolio. Danske Bank Asset Management pe-insights.com has expanded its alternative investments mandate with Danish Industry to nearly $245 million.
AI & Technology Investments
Nvidia-backed Ayar Labs has raised $500 million in Series E funding at a $3.75 billion valuation, with Neuberger Berman leading the round. Eight Sleep news.crunchbase.com has raised $50 million at a $1.5 billion valuation to expand into "predictive, AI-driven health," marking its second funding round in a year. Vertical Compute sifted.eu has raised €37 million to tackle AI's memory overload with new chip technology. Ayar Labs and Eight Sleep represent the growing convergence of AI with hardware and health technology sectors.
Healthcare & Life Sciences
Astorg's portfolio company Solabia pehub.com has expanded through three strategic acquisitions, representing the company's first acquisitions since Astorg's investment in October 2025. Pike Street-backed US BioTek pehub.com has merged with Nutri Path Pathology, combining advanced immunological and integrative diagnostics capabilities. Kyip Capital pehub.com has invested in Chiron to develop an outpatient diagnostics platform, focusing on aggregating and operating diagnostic, surgery, and rehabilitation services nationwide. PE-backed Esperion pehub.com has agreed to acquire biopharma firm Corstasis for $75 million upfront, with up to an additional $180 million tied to regulatory and commercial milestones.
Defense & Aerospace
Aerospace and defense supply chain firm Aeromed pehub.com has secured investment from Gemspring, supporting the company's recent acquisitions of HITEK Electronic Materials Ltd., Norca Tec LLC, and Kit Pack Company, Inc. Arlington Capital pehub.com has sold aerospace parts maker FSG to JF Lehman, with FSG providing complex, precision forgings to aerospace, defense, and space customers. Greenbriar-backed West Star Aviation pehub.com has acquired aircraft maintenance firm DCJet, expanding its MRO services for business aviation.
Industrial & Manufacturing
MacLean Power Systems and Power Grid Components pehub.com have completed a merger, with Blackstone Energy Transition Partners becoming the majority owner of the combined company while Centerbridge Partners makes a new investment. Fulcrum Capital Partners pehub.com has invested in the growth of Glass Masters Autoglass, led by president and CEO Roger Tulk. SeaFort Capital pehub.com has acquired a majority stake in doors supplier Allmar, with Roynat Equity Partners investing alongside as a co-investor. Meritus Gas Partners pehub.com has expanded through its subsidiary picking up Greens Welding Supply, with AEA Investors backing the portfolio company.
Software & Business Services
Spatial Business Systems pehub.com is being sold to Blackstone-backed Enverus, with Peak Rock as the seller. Whip Around pehub.com has secured investment from Accel-KKR for its fleet maintenance software platform, led by CEO Noah Hickey. HRSoft pehub.com has received backing from Gryphon Investors, with existing backer Bow River Capital retaining a minority stake. Breezeway pehub.com has secured investment from Resurgens to support its vacation rental operations platform, positioning the company to broaden its product platform and deepen AI capabilities.
Consumer & Retail
Adrianna Papell pehub.com has received investment from Trive, with the company's existing management team continuing to lead the business. Missoni family pe-insights.com has passed control to FSI, which has become the controlling shareholder of the €130 million fashion house by increasing its stake. KCP pehub.com has agreed to buy luxury motor yachts brand Sunseeker, with the transaction subject to customary regulatory approvals expected in coming weeks.
Emerging Managers & Platform Builds
Torch Key pehub.com has launched as a new PE firm backed by GCM Grosvenor, focusing on food and beverage and industrial products and services sectors. Accelerated Wealth Partners pehub.com has secured up to $200 million in backing from JC Flowers to fund its mission to acquire and scale registered investment advisors. Emissary Partners pe-insights.com has added Sara Macedo, former CEO of Jeremy Coller's family office, as managing partner as the $5 trillion family office market expands.
NEXUS 2026 Conference Insights
The recent NEXUS 2026 summit has generated significant discussion across the PE industry. Abry's CJ Brucato pehub.com noted that competition in the upper end benefits the lower mid-market. Carlyle's Steve Wise emphasized that the market is open for bigger, higher-quality businesses. Cutting Edge's Tim Hegarty pehub.com highlighted that consumer data and studio alignment are key in music deal sourcing. Lincoln's Chris Brooks pehub.com observed that PE is adapting its tech playbook as AI disrupts the buy-and-build model. Clearlake's José E. Feliciano pehub.com discussed AI disruption, while H&F's Patrick Healy addressed long hold periods and Arctos' Ian Charles warned about "alpha imposters" in the current market environment.