Private Equity 3d Briefing
×Last updated: March 13, 2026, 11:31 AM ET
Secondaries Market Surge
Charlesbank backed Overbay Capital's expansion pehub.com into the secondaries market, signaling growing institutional appetite for alternative asset recycling. Meanwhile, Lexington Partners' Christophe Browne noted that increased LP participation in continuation vehicles would represent a "healthy" market indicator, as GP-led deal volume hit record highs in 2025. The trend is underscored by General Atlantic's entry into secondaries secondariesinvestor.com through a $1 billion partnership with Clipway, targeting growth equity and late-stage venture capital investments. These moves come as Cliffwater's CIO called for reconsideration of NAV "squeezing" practices that create "weird time arbitrage" for evergreen investors.
Women's Health and Healthcare Tech
Private equity firms are targeting women's health segments pehub.com with six recent deals involving Ardian, Charterhouse, CVC, and L Catterton. The sector's attractiveness is further demonstrated by Waiv, an Owkin spinout, raising $33 million sifted.eu to scale AI-powered medical testing. Chicago Pacific Founders invested in Nexben pehub.com, a Minneapolis-based healthcare benefits management provider, while Riverglade-backed Dynamic Access acquired Picc Stat pehub.com, a vascular access services company. These investments reflect broader healthcare sector momentum, with Health insurance unicorn Alan hitting a €5 billion valuation sifted.eu.
Infrastructure and Energy
I Squared Capital is approaching $10 billion pe-insights.com for its next flagship infrastructure fund amid sector boom conditions. Arc Light acquired a 50% stake pehub.com in Infra Bridge's 5.4 GW gas power portfolio, including 11 natural gas-fired plants across Washington, Illinois, Pennsylvania, and Ontario. Meanwhile, Carlyle sold Colombian oil producer SierraCol pe-insights.com to Prime Infrastructure Capital, marking another exit in the energy transition space. Copenhagen Infrastructure Partners secured €1.3 billion pe-insights.com at first close for its flagship green credit fund, approximately $1.4 billion, highlighting continued investor appetite for sustainable infrastructure.
Fintech and Digital Services
Revolut won its UK banking license sifted.eu after a five-year regulatory battle, clearing a major hurdle for European fintech expansion. In Southeast Asia, Warburg Pincus is reviewing strategic options pe-insights.com for Oona Insurance, exploring potential sale or partnership. The digital banking sector's maturation is evident as traditional players adapt, with Blackstone and Blue Owl backing Atlas Holdings pehub.com with a $16 billion platform investment. These moves signal growing convergence between traditional financial services and private equity-backed digital transformation.
Industrial and Manufacturing
Norea Capital acquired Metalunic pehub.com, a specialized manufacturer of metal panels for siding and roofing, while AE Industrial's AIM MRO purchased AA Bushings pehub.com as its fourth add-on since investment. Hyperion's Ranger bought MarkOne Safety Solutions pehub.com, a fire safety and emergency lighting systems specialist. These acquisitions reflect continued industrial sector consolidation, with private equity firms leveraging operational expertise to drive growth in niche manufacturing segments.
Venture Capital and AI
VC mega-funds are returning with massive raises techcrunch.com, as General Catalyst pursues $10 billion and Spark Capital targets $3 billion. Breakout Ventures raised $114 million techcrunch.com for AI science startups, while Gumloop landed $50 million techcrunch.com from Benchmark to empower every employee as an AI agent builder. The AI investment frenzy is producing new unicorns, with humanoid robotics maker Sunday reaching a $1.15 billion valuation techcrunch.com for its household robot Memo. Meanwhile, investors are recalibrating around agentic AI news.crunchbase.com, prioritizing startups with real production usage and measurable outcomes over flashy demos.
Food and Consumer
Irth Capital, backed by Brookfield, launched a $1.5 billion bid pe-insights.com for Papa John's at $47 per share. E2P sold Furlani Foods to Arbor Investments pehub.com after a three-year hold, achieving its operational goals faster than planned. These transactions highlight continued activity in the food and beverage sector, where private equity firms are leveraging operational improvements to drive exits in a competitive market.
Legal Tech and Professional Services
Swedish legal tech startup Legora tripled its valuation to $5.55 billion news.crunchbase.com with a $550 million Series D led by Accel, building AI platforms for lawyers. In professional services, Bertram-backed Cogency Global acquired Elemental CoSec pehub.com, expanding UK governance and compliance capabilities. These deals reflect growing investor confidence in AI-powered professional services, particularly in sectors with high-value, knowledge-intensive workflows.
Data Centers and Technology Infrastructure
Private equity is paying high multiples pehub.com for data center refrigeration and structural design plays, according to Lincoln International. Blackstone and Hellman & Friedman are exploring AI joint ventures pe-insights.com with Anthropic, while Partners Group chair Steffen Meister warned that private credit defaults could rise as AI reshapes markets. These developments underscore the complex interplay between AI adoption, infrastructure investment, and credit market dynamics.
Geographic Expansion and Market Maturation
UVC Partners raised €77 million sifted.eu for its first close of a new growth fund, marking a "move into multi-stage investing." European firms are pushing into growth funds sifted.eu, with France maintaining steady presence despite fundraising slowdowns. The maturation of European private markets is evident as firms like Nscale aim to deliver $14 billion of compute sifted.eu, testing their ability to meet ambitious deadlines in the AI infrastructure race.
Portfolio Company Activity
Old Ironsides Energy sold Pillar pehub.com, an Eagle Ford Shale exploration and production company, to Trailblazer Energy Resources. Greenbelt agreed to buy Peak Utility Services pehub.com from ORIX Capital Partners, an outsourced utility maintenance provider. These portfolio company transactions reflect active secondary market dynamics and continued deal flow in traditional energy and utility sectors.
Strategic Partnerships and Market Structure
Edmond de Rothschild Corporate Finance and Jasmin Capital formed a partnership for continuation vehicles secondariesinvestor.com, focusing on co-control deals where GPs sell part of a stake via M&A while moving the remainder into CVs. This structural evolution in private markets is further evidenced by W Capital Partners' emphasis on structured solutions secondariesinvestor.com that keep assets within flagship funds, addressing what it sees as an emerging "K-curve market."
Market Sentiment and Performance
Ontario Teachers' Pension Plan reported a 6.7% return pe-insights.com as assets reached $279.4 billion, while CVC realized €21.9 billion in exits privateequityinternational.com for record 2025 performance. However, GPs are growing less confident privateequityinternational.com about private equity outperformance, according to recent surveys. This mixed sentiment reflects the complex market environment where strong exit activity coexists with concerns about future returns and valuation mismatches, particularly as AI adoption creates both opportunities and uncertainties across sectors.