Private Equity 3d Briefing
×Last updated: March 23, 2026, 9:30 AM ET
Deal Activity & Exits
Private equity dealmaking saw several platform acquisitions and portfolio divestitures across sectors, signaling varied exit environments. Olympus Partners agreed to divest Eye South’s retina business for $1.1 billion, marking a potential exit from the US-based eye-care management organization pehub.com. In corporate carve-outs, Advent’s portfolio company Cobham Ultra entered a definitive agreement to sell its specialized Ultra Cyber division to Airbus Defence and Space pehub.com, a transaction that follows reports suggesting exit difficulties are leading firms toward partial sales and extended sell-side preparation pehub.com. Further consolidation occurred in the education technology space, where Sovereign sold Knovia to Eureka Education after the platform more than quadrupled its revenue under their stewardship, achieving annual organic growth above 15 percent pehub.com.
Across the software and services domain, Gryphon-backed Rootstock executed an add-on acquisition, purchasing Ascent Solutions, a provider of cloud ERP and operational applications built on the Salesforce platform pehub.com. Similarly, Diversis completed the scoop of fintech firm LTi, with LTi’s co-founders retaining minority stakes and ongoing involvement in the company's trajectory pehub.com. Insurance saw activity as the Aquiline-backed Relation snapped up Chinook Insurance Group, led by CEO Christopher Trainer pehub.com. Meanwhile, One Equity finalized the take-private acquisition of UK wholesale distributor Kitwave, which supplies food and consumables to foodservice and retail customers pehub.com.
Sector Focus: Technology & Infrastructure
Investment interest remained concentrated in enterprise software, AI-adjacent firms, and essential infrastructure. AEA Elevate placed capital into the technology company Trinamix, targeting both enterprise and mid-market organizations pehub.com. In the complex realm of AI investment, OpenAI is reportedly offering prospective private equity partners a guaranteed minimum return of 17.5 percent to secure funding for joint venture initiatives pe-insights.com. Concurrently, infrastructure saw a major liquidity event as KKR initiated the sale of data center liquid cooling specialist Cool IT, expecting to close the transaction for $4.75 billion in the third quarter of 2026 pehub.com. In Europe, Actis acquired Singaporean environmental management business 800 Super, which provides comprehensive services including waste management and public cleaning to both public and private sectors pehub.com.
Fundraising & Capital Commitments
Major asset managers continued to secure substantial capital commitments across strategies, underscoring sustained institutional appetite for private markets, despite broader economic uncertainty. Blackstone successfully raised over $12 billion for its most recent Asia-Pacific buyout fund, continuing its global fundraising momentum pe-insights.com. Separately, Blackstone’s $83 billion BCRED vehicle is proceeding with a new collateralised loan obligation (CLO) issuance as part of its private credit activities pe-insights.com. Growth equity saw Coefficient Capital secure more than $500 million across two vehicles to scale its consumer investment strategy pe-insights.com. In the credit space, Ares Management committed at least €1 billion as part of a larger €1.5 billion capital increase for Plenitude, valuing the entity at €13.1 billion in a deal involving Eni pe-insights.com.
Personnel Moves & Expansion
Firms continued to bolster senior leadership and expand geographic footprints through strategic hires. TPG is actively seeking to re-establish a dedicated presence in Japan, a move evidenced by hiring a secondaries professional for its TPG New Quest unit to drive multi-asset expansion in the region secondariesinvestor.com. GTCR appointed Donnie Phillips to the dual role of managing director and chief administrative officer, based out of the firm’s Chicago headquarters pehub.com. Furthermore, ECI welcomed David Danon as a new partner, bringing nearly two decades of private equity experience from his previous tenure at Bain Capital pehub.com. In internal promotions, Freshstream elevated Tom Carroll and Gilles Gradassi to partner, recognizing their central roles in executing the firm’s strategy across the UK, Ireland, Belgium, France, and The Netherlands pehub.com.
Sector-Specific Investments & Strategy
Investment activity reflected a strong focus on healthcare services, specialized software, and consumer brands, often incorporating strategic add-ons. In healthcare benefits management, multiple firms targeted the segment, with InTandem, NMS Capital, and West View Capital seizing opportunities, while Palladium Equity Partners moved to acquire a hospice care provider pehub.com. LLR Partners-backed Viventium, a human capital management provider focused on the post-acute market, acquired the caregiver rewards platform Perks4Care pehub.com. Strategic mergers also took place in the industrial sector, where 3M and Bain are jointly acquiring Madison Fire & Rescue for $1.95 billion, planning to merge it with 3M’s Scott Safety division to form a new fire and safety platform pehub.com. Consumer goods saw Danone agree to take over the UK-based nutrition brand Huel, a move intended to strengthen its positioning in the rapidly expanding health and protein markets pe-insights.com.
Emerging Trends & Supporting Ecosystems
The rapid ascent of artificial intelligence continues to reshape capital deployment, drawing significant venture and private equity interest, even as the regulatory and operational nuances of high-tech startups are scrutinized. Startups utilizing AI accounted for a record 41% of the $128 billion in venture capital dollars raised on Carta last year techcrunch.com. This trend is compelling established players to adapt, as evidenced by Philippe Laffont’s Coatue Management, the $70 billion firm, pivoting to launch a dedicated AI crossover fund pe-insights.com. Meanwhile, smaller funds and specialized vehicles are also finding traction; Air Street Capital closed a $232 million solo GP fund, noted as Europe’s largest of its kind sifted.eu. However, operational diligence remains key, as guest commentary suggested that many startups overlook valuable tax credits due to deficient processes for identification and documentation throughout the year news.crunchbase.com. In the realm of sports finance, former NFL player Terrence Murphy launched Synergy Sports Capital, marking his first deal two decades after his playing career was cut short by injury pehub.com.