Private Equity 3d Briefing
×Last updated: March 13, 2026, 5:30 AM ET
European Secondary Market Momentum
The European secondaries market continues its rapid expansion, with record GP-led deal volume secondariesinvestor.com reaching new heights in 2025. General Atlantic's entry secondariesinvestor.com into the space through a $1 billion partnership with Clipway signals growing mainstream interest, while Lindsay Goldberg's expansion secondariesinvestor.com into CV investments reflects the sector's broadening appeal. The market is grappling with evolving challenges, as Cliffwater's CIO secondariesinvestor.com called for reconsidering NAV "squeezing" practices that create "weird time arbitrage" for evergreen investors. Meanwhile, W Capital Partners secondariesinvestor.com advocates for keeping assets within flagship funds to mitigate what it sees as an increasingly "K-curve market."
Infrastructure and Energy Deals
Infrastructure investment continues to attract massive capital commitments, with I Squared Capital pe-insights.com nearing $10 billion for its flagship fund amid sector-wide growth. In the energy transition space, Copenhagen Infrastructure Partners pe-insights.com secured a €1.3 billion first close for its green credit fund, while ArcLight pe-insights.com acquired a 50% stake in a 5.4 GW gas power portfolio from Infra Bridge. The sector's momentum is underscored by Carlyle's structured financing plans pe-insights.com to seed its flagship Carlyle Partners IX fund with multibillion-dollar backing.
Private Credit and Market Concerns
Private credit markets face mounting scrutiny as Deutsche Bank pe-insights.com disclosed €26 billion in exposure while planning expansion. Partners Group's chair pe-insights.com warned that default rates could rise as AI reshapes markets, though the firm's chief dismissed these fears as "wildly overdone" privateequityinternational.com, noting they haven't levered private credit evergreen funds like some peers. The debate comes as Blackstone pe-insights.com and Hellman & Friedman pe-insights.com explore AI joint ventures with Anthropic, highlighting the sector's push into emerging technologies.
Technology and AI Investments
AI continues to drive venture capital activity, with Breakout Ventures techcrunch.com raising a $114 million fund for AI science startups and Gumloop techcrunch.com landing $50 million from Benchmark to empower employees as AI agent builders. The robotics sector is particularly active, as Sunday techcrunch.com reached a $1.15 billion valuation for household humanoid robots, and LeCun's new AI lab news.crunchbase.com raised $1 billion in Europe's largest seed round ever. VC mega-funds are back techcrunch.com, with General Catalyst reportedly raising $10 billion and Spark Capital $3 billion, while investors prioritize startups demonstrating real production usage and measurable outcomes over flashy demos.
European Exits and Portfolio Activity
European private equity generated €19.5 billion in exit value in 2025, a 77% increase year-over-year, according to CVC's earnings report privateequityinternational.com. EQT pe-insights.com led a record $5.5 billion Galderma share sale in Switzerland, while EQT also eyes pe-insights.com a potential $6 billion divestment of Linux developer SUSE. In the mid-market, Arlington Capital pehub.com exited Forged Solutions Group to JF Lehman & Co., and Irth Capital pe-insights.com launched a $1.5 billion bid for Papa John's with Brookfield backing.
Healthcare and Life Sciences
The healthcare sector saw significant activity, with Waiv sifted.eu, an Owkin spinout, raising $33 million to scale AI-powered medical testing. Chicago Pacific Founders pehub.com invested in Nexben, a healthcare benefits management provider, while BV Investment pehub.com backed Moxe Health, a clinical data exchange platform. Legora news.crunchbase.com, an AI platform for lawyers, tripled its valuation to $5.55 billion with a $550 million Series D led by Accel, demonstrating the premium valuations being achieved in Med Tech infrastructure.
Add-on Acquisitions and Platform Building
Private equity firms continue aggressive add-on strategies, with AE Industrial's AIM MRO pehub.com making its fourth add-on acquisition by buying AA Bushings. Wynnchurch-backed Hydraulic Technologies pehub.com acquired Foxtrot Industriel, a motorized industrial handling equipment manufacturer, while XPV Water Partners pehub.com launched an ocean technology platform called Ocean Sight. These add-ons reflect the ongoing push to build scale in specialized industrial sectors.
Fundraising and LP Activity
Fundraising remains robust in select areas, with Bain Capital pe-insights.com raising $12.5 billion across Asia and Japan buyout funds. EQT pe-insights.com and PAI-backed World Freight Company pe-insights.com are targets for Brookfield's potential $1.3 billion acquisition. Meanwhile, CPP Investments secondariesinvestor.com came to market with a multi-billion-dollar PE portfolio sale dubbed Project Ember, highlighting the growing secondary market for LP stakes.
Fintech and Financial Services
Fintech continues to attract investment, with Revolut finally winning sifted.eu its UK banking license after a five-year process. Blackstone pehub.com took a majority stake in Advanced Cooling Technologies, while Blackstone and Blue Owl pe-insights.com backed a $16 billion private equity platform in Atlas Holdings. Ontario Teachers' pe-insights.com pension plan reported a 6.7% return as assets reached $279.4 billion, underscoring the continued capital deployment from institutional investors.
Specialized Strategies and Niche Markets
Specialized strategies are gaining traction, with BNP Paribas pe-insights.com raising €540 million for a GP stakes strategy targeting private capital managers. Ardian pehub.com plans to add an Italian business to its self-storage platform, while Bridgepoint-backed Fera Science pehub.com acquired Qotho Minerals, a provider of proficiency testing schemes for the minerals industry. These moves reflect the growing sophistication of private equity strategies across diverse sectors.