Private Equity 3d Briefing
×Last updated: March 15, 2026, 10:30 AM ET
Leadership Shifts & Talent Moves
Hired a managing director secondariesinvestor.com as Goldman Sachs secondariesinvestor.com added former Rothschild GP‑Solutions head Darren Schluter to its secondary‑market team, underscoring the bank’s push to capture more GP‑led transactions. A day later, named co‑heads pehub.com at Vistria pehub.com saw David Schuppan and Phil Alphonse take charge of its flagship funds, a move designed to align operating oversight with the firm’s expanding platform strategy. Both appointments reflect a broader trend of private‑equity firms bolstering senior talent to navigate an increasingly complex secondary‑market landscape.
Fundraising Milestones & Mega‑Deals
Approached $10bn fund pe-insights.com as I Squared Capital pe-insights.com closed in on $9.8 billion of commitments for its next flagship infrastructure vehicle, riding a sector‑wide boom in renewable‑energy and data‑center assets. Meanwhile, the examined $30bn deal privateequityinternational.com involving New Mountain Capital and Holt highlighted how GP‑led structures are now being used to off‑load assets worth more than $30 billion, a scale previously seen only in sponsor‑to‑sponsor sales. In Southeast Asia, explored sale options pe-insights.com for insurer Oona signaled Warburg Pincus’s willingness to consider either a full exit or a strategic partnership, a decision driven by the region’s rapid digital‑insurance adoption and the firm’s desire to redeploy capital into higher‑growth fintech targets.
GP‑Led Secondaries Evolution
Outlined next‑step GP‑led secondariesinvestor.com in its latest report, PEI Group projected that GP‑led continuations will increasingly incorporate hybrid structures that blend preferred equity with traditional GP stakes, aiming to preserve upside while offering liquidity to limited partners. Complementing that view, shared alumni outlook secondariesinvestor.com from former rising‑stars emphasized a shift toward “CV‑on‑CV” strategies, where continuation vehicles are rolled into successive special‑purpose vehicles to extend hold periods. Yet, discussed NAV squeeze secondariesinvestor.com warned that evergreen secondary funds may face valuation compression as “weird time arbitrage” forces managers to price assets at lower net‑asset‑value multiples, potentially eroding returns for long‑term investors.
Sector‑Specific Multiples & Health‑Care Focus
Targeted high multiples pehub.com in data‑center refrigeration and structural‑design plays, according to Lincoln International, with deal EBITDA multiples hovering near 15‑×, driven by strong demand for energy‑efficient cooling solutions amid a global data‑center construction surge. Parallel to that, invested in women’s health pehub.com saw firms such as Ardian, Charterhouse, CVC and L Catterton commit to six distinct transactions across fertility, menopause and digital therapeutics, collectively allocating over $1.2 billion and reflecting investors’ belief that women’s‑health services will outpace overall healthcare spending growth.
European Secondary‑Market Activity
Highlighted booming secondaries sifted.eu as Europe’s secondary market recorded a 42% year‑over‑year increase in transaction volume, with limited partners eager to rebalance exposure after a year of elevated valuations. The surge was illustrated by reported hot secondary sales sifted.eu involving platforms such as Vinted, Eleven Labs and Iceye, where secondary stakes fetched premiums of 8‑12% over last‑trade prices, underscoring appetite for high‑growth tech assets. To retain capital within flagship funds, offered structured solutions secondariesinvestor.com from W Capital emphasized “K‑curve”‑friendly vehicles that allow LPs to stay invested while still achieving liquidity. Finally, advocated LP‑friendly CVs secondariesinvestor.com at Lexington Partners urged a higher percentage of LPs to roll into continuation vehicles, arguing that such alignment would signal a healthier, more resilient secondary market.