Private Equity 3d Briefing
×Last updated: March 20, 2026, 2:30 AM ET
Dealmaking & Exits: High-Value Transactions
Private equity firms are actively pursuing major exits and pe-insights.com structuring continuation vehicles (CVs) across Europe, even as the general exit pipeline remains challenging. CVC Capital Partners and Nordic Capital are reportedly exploring exit avenues for Cary Group that could secure a valuation exceeding €3 billion. In the healthcare space, QHP Capital finalized an $1.1 billion continuation fund for Azurity Pharmaceuticals, with Harbour Vest Partners leading the transaction alongside Pantheon Ventures 6. Furthermore, LS Power is with a substantial $5 billion acquisition of natural gas generation assets from Constellation Energy in Pennsylvania and Delaware, signaling sustained investment in North American energy infrastructure.
Continuation Vehicles & Secondaries Activity
The CV market remains active, particularly in Europe, where Ares pe-insights.com Management 70 led a €300 million continuation fund for Europastry following a halt in its initial public offering plans, supporting MCH Private Equity's ongoing strategy. This contrasts with broader market caution, as technology assets are reportedly moving down the list of favored sectors for CVs, according to Houlihan Lokey 34. Meanwhile, secondaries players are demonstrating a disciplined approach to bringing assets to market, differentiating themselves from standard LPs. In personnel moves, High Vista Strategies appointed Raudel Yanez as managing director to spearhead its GP-led secondaries strategy focusing on the lower middle market.
Sector-Specific Investments: Healthcare & Defense
Healthcare and pehub.com defense technology are attracting targeted capital, showcasing distinct investment themes across geographies. Blackstone-backed Chartis acquired health tech firm Leap AI in Chicago, while B-Flexion Life Sciences-backed entities Paratek and Radius Health completed a merger supported by a $1.3 billion financing led by Blackstone Credit & Insurance 15, 42. In defense, geopolitical tensions are keeping European defense startups in the spotlight, with VCs identifying 12 such companies to watch in 2026 1. Separately, ETNA announced its plan to acquire Brolis Defence Group, which develops electro-optical systems for NATO defense ministries.
Team Moves, Fund Strategy, and Governance
The private equity ecosystem pehub.com saw several key personnel appointments and strategic structural reviews across investment and advisory roles. Permira is progressing toward exiting its investment in Altamar CAM, a private markets firm managing €20 billion in AUM, to Mercer. In credit markets, Apollo Global Management hired a former Warburg Pincus executive to anchor its new $1 billion private credit fund in Singapore, while Apollo also partnered with Intercontinental Exchange to develop new data infrastructure for the sector. On the LP side, the Nevada Public Employees’ Retirement System ($74.9 indicated plans to reduce exposure to Clearlake due to perceived conflicts of interest stemming from its acquisition of Pathway Capital Management 80.
European Tech & Venture Dynamics
European technology investment demonstrates techcrunch.com a focus on specialized vertical plays, though concerns over talent retention persist. Bluesky secured $100 million in Series B funding to scale development of its app and the underlying ATProto protocol. In the UK, despite a reported renaissance in 'tech bro' culture, one in five founders surveyed indicated an intention to leave the country within the next year, raising concerns about domestic deeptech viability. VCs are backing specialized European ventures, such as Verdane and Bpifrance supporting French telehealth provider Medadom, and EQT and the World Bank participating in the €30 million raise for Swedish "flying ferry" startup Candela.
Mid-Market & Growth Equity Activity
Middle-market activity across Europe pehub.com involved specialized buyouts and platform expansions focusing on essential services and infrastructure. Ares led a continuation vehicle for Europastry after its IPO was halted, while mid-market investor Fremman raised a fund over £400 million for nursery operator Kids Planet 12. In the US, Sterling acquired IT services firm Cyber Advisors 23, and LFM added manufacturer Power Built to its automation platform. Growth equity saw Idealist, alongside the Canada Growth Fund, invest C$50 million into sustainable agriculture firm Solugen, while BNP Paribas Asset Management Alts backed climate-focused Farm Carbon to scale methane reduction efforts.
Operational Strategy and Founder Focus
Discussions around operational scaling news.crunchbase.com reveal a shift in focus toward measurable business outputs rather than just pilot programs, particularly in the AI sector. In the UK and Ireland, the fastest-growing startups are prioritizing "revenuemaxxing," often operating with smaller teams and tighter moats. Separately, Van Lanschot Kempen initiated a strategic review of its liquid funds unit, which manages $11.5 billion in assets, exploring strategic options for the division. Meanwhile, CVC and Nordic Capital are exploring a potential €25 billion exit for TK Elevator amid takeover discussions involving Kone.
Personnel & Internal Firm Governance
The firms themselves continue to refine internal structures and legacy planning. privateequityinternational.com CPA Anthony Venette detailed strategies for GPs involving gifting carried interest to optimize estate planning and achieve tax savings on future appreciation. In leadership changes, High Vista Strategies hired Raudel Yanez to lead its secondaries strategy, and American Pacific promoted Rahul Mohan to managing director. In the institutional investor space, Border to Coast, the UK local government pension pool, completed its alternatives leadership team with a new lead PM for PE, credit, and climate, as its portfolio prepares to expand to £110 billion.