Private Equity 3d Briefing – Mar 24, 2026

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Last updated: March 24, 2026, 11:30 PM ET

Fundraising & Capital Deployment

Private equity firms are actively raising capital across various mandates, with Kleiner Perkins securing $3.5 billion news.crunchbase.com for its latest suite of funds, which includes $1 billion designated for early-stage ventures and $2.5 billion earmarked for growth-stage investments. Growth equity specialist Lead Edge Capital successfully closed $3.5 billion pe-insights.com for its seventh software-focused fund, signaling continued investor appetite for targeted sector exposure. In contrast, diversity-focused funds continue to build momentum, as BKR Capital announced its Fund II has reached $20 million Canadian techcrunch.com toward a $50 million target aimed at supporting Black founders, while BRK Capital is also tracking toward $20 million Canadian techcrunch.com for its parallel effort. Meanwhile, independent sponsors are targeting higher returns, with research indicating that their preference for lower valuation multiples drives them to seek returns exceeding 3x on deals privateequityinternational.com compared to traditional fund strategies.

Deal activity spanned infrastructure, technology, and consumer goods, demonstrating broad deployment strategies. In infrastructure, Hull Street agreed to purchase two power plants pehub.com from Rockland, acquiring the Lee County Generating Station in Illinois and the Tait Electric Generating Station in Ohio, while specialized infrastructure funds are showing interest in the Gulf energy sector, targeting a potential pipeline deal valued at $7 billion in Kuwait pe-insights.com. Technology saw numerous transactions, with GTCR-backed Ascent Sports Group acquiring sports tech firm LiveBarn pehub.com, and Gryphon-backed Rootstock purchasing ERP software provider Ascent Solutions pehub.com. In enterprise software, Main Capital invested in Gingco Systems pehub.com, a modular resource management provider, and Diversis scooped up fintech firm LTi pehub.com. Furthermore, in the complex AI space, Gimlet Labs raised an $80 million Series A techcrunch.com for technology enabling AI inference across multiple chip architectures, while OpenAI is reportedly offering a guaranteed minimum 17.5% return pe-insights.com to attract private equity capital into its joint ventures.

Major buyout firms are circling large-scale corporate carve-outs and significant portfolio sales. Apollo Global Management and Bain Capital are leading the bidding race pe-insights.com for Continental’s industrial unit, with the potential transaction valued near €4 billion. Concurrently, CVC Capital Partners and Silver Lake are testing the waters for a $6.7 billion IPO pe-insights.com for their portfolio company RAC, having commenced investor outreach for the listing. In exits, Francisco Partners is selling music publisher Kobalt pehub.com to Brookfield-backed Primary Wave, with Kobalt’s management team set to remain in place. On the European front, Advent exited a £46 million stake in Trustpilot pe-insights.com following a discounted share sale, and the firm simultaneously expanded its consumer exposure by agreeing to acquire a majority stake in premium beauty brand Salt & Stone for $165 million pe-insights.com.

Activity in services and specialized sectors included several platform investments. In healthcare IT, GPI-backed Hopper OS acquired healthcare data firm Efferent pehub.com, bolstering its configurable intelligent operating system capabilities across the care continuum. The education technology space saw Princeton Equity Group backing children’s education provider KidStrong pehub.com, which currently operates 184 centers supporting over 85,000 members. Sovereign sold Knovia to Eureka Education pehub.com, a transaction following Knovia’s period of quadrupled revenue under Sovereign’s ownership. Furthermore, in the wealth management sector, WPCG and HGGC are investing in RIA Verdence pehub.com, which involves Emigrant Partners selling its existing stake.

The secondary market is experiencing elevated interest in liquidity options, though overhang persists in Asia. The University of California is seeking liquidity secondariesinvestor.com by shopping a $3 billion limited partner portfolio, reflecting a broader trend of institutional investors seeking cash distributions. This demand for liquidity is making secondaries capabilities attractive, exemplified by Mercer’s recent acquisition of AltamarCAM privateequityinternational.com, which strengthened Altamar CAM’s ability to handle secondary transactions. Meanwhile, New Mountain Atlas, which has added secondaries personnel, is focusing on leading and co-leading GP-led buyout deals while leveraging its sector expertise to stay ahead of process opportunities secondariesinvestor.com. In Asia-Pacific, Bain & Co reports that the number of portfolio companies held for over five years increased by 18% in 2025 privateequityinternational.com, suggesting exit difficulties are creating an overhang in the region.

European activity included several strategic acquisitions and management changes. Altor agreed to acquire Eltera pehub.com from Valedo, a provider of electrical installation services, following a broader push into the sector. Separately, One Equity acquired UK wholesaler Kitwave pehub.com via a take-private deal, while Apollo and CVC jointly acquired a 37% minority stake in Syntegon pe-insights.com to support the firm’s next growth phase at a €1.75 billion valuation. On the talent front, Freshstream promoted Tom Carroll and Gilles Gradassi to partner pehub.com, recognizing their central role in the firm’s strategy across the UK, France, Belgium, Ireland, and the Netherlands. In India, the venture ecosystem is seeing targeted support, as Accel and Prosus selected six early-stage startups techcrunch.com for their inaugural accelerator cohort, with each recipient set to receive between $500,000 and $2 million.

Firms are actively managing assets through sales and strategic disposals. Blackstone is marketing a portfolio of Parisian apartments pe-insights.com for an expected disposal targeting €100 million, following its larger €700 million acquisition in the city. In environmental services, Goldner Hawn acquired Lone Star Environmental Companies pehub.com, which services the Houston and San Antonio markets. Generate Capital divested greenhouse operator Equinox Growers to Taylor Farms pehub.com, supporting regional food supply chains. Furthermore, reports indicate that Advent’s portfolio company Cobham Ultra agreed to sell Ultra Cyber unit to Airbus Defence and Space pehub.com, a move occurring while West Monroe notes that difficult exit conditions are leading sponsors toward partial sales and longer sell-side preparation times amid broader exit pressure pehub.com.