Private Equity 3d Briefing
×Last updated: March 26, 2026, 11:30 AM ET
Dealmaking Activity Across Sectors
Private equity deal flow demonstrated breadth across infrastructure, defense, and software, with Clearlake Capital acquiring pehub.com Qualus from New Mountain Capital pehub.com amidst surging power demand, providing a substantial payout for KKR's CoolIT employees pehub.com. In defense technology, Advent committed up to $1 billion pe-insights.com for deployment into the sector, including funding a planned acquisition by portfolio company Shield AI of Aechelon Technology Inc pehub.com. Further firm deployment saw Blackstone earmarking $250 million pe-insights.com into a UAE payments platform as part of a larger $1 billion regional bet, while Alterra backed General Atlantic pe-insights.com on its investment in IoT firm Wireless Logic, signaling continued Middle Eastern interest pe-insights.com. Elsewhere, Audax and Greenbriar divested pehub.com airport services firm AGI to Lone Star after a co-investment period beginning in June 2021, and TowerBrook completed a continuation fund pehub.com for consulting firm Eisner Amper, a transaction led by Carlyle AlpInvest secondariesinvestor.com.
Sector-Specific Acquisitions and Exits
Activity in the consumer and services sectors saw several strategic moves, including Advent exiting its stake pe-insights.com in premium beauty brand OLAPLEX for $1.4 billion via a sale to Henkel, even as other beauty dealmaking faces pressure from Middle East conflict pehub.com. In logistics, Sun European invested in B&H Worldwide pehub.com, an aerospace component management firm based at Heathrow pehub.com, while FPE-backed Point74 acquired pehub.com compliance platform Quor to consolidate the UK's food software market. In workforce solutions, Trinity Hunt-backed Allvia acquired pehub.com HR Pals, and Sovereign-backed Affinia made an add-on pehub.com following its initial investment in LB Group in May 2023. TowerBrook also expanded pehub.com into sports apparel personalization by acquiring ID Unlimited pehub.com, while Main Post invested pehub.com in pretzel brand Stellar Snacks, which boasts distribution across major national retailers like Costco and Target pehub.com.
Infrastructure and Energy Transactions
Large-scale infrastructure investments continued as Brookfield and La Caisse agreed to acquire pe-insights.com Boralex in a $9.7 billion take-private transaction aimed at scaling renewables growth. In energy markets, Hull Street is purchasing pehub.com two power plants from Rockland: the Lee County Generating Station in Illinois and the Tait Electric Generating Station in Ohio. Meanwhile, Generate Capital sold pehub.com greenhouse operator Equinox Growers to Taylor Farms, supporting regional food supply chains pehub.com. On the advisory front, Bank of America launched pe-insights.com a dedicated Private Capital M&A unit specifically to unlock private equity exits in the current environment pe-insights.com.
Fundraising, Secondaries, and LP Dynamics
The fundraising environment showed increasing specialization, with Pictet closing its first direct PE fund pe-insights.com targeting founder-led businesses at €403 million, or $440 million pe-insights.com. In Europe, the EIF launched a €15 billion fund of funds sifted.eu intended to back 100 growth-stage venture capital firms pehub.com. Liquidity demands remain high, evidenced by the University of California shopping secondariesinvestor.com a $3 billion LP portfolio in the secondaries market. Furthermore, Alterra backed General Atlantic pehub.com in the Wireless Logic deal, as Middle Eastern capital continues to flow into global assets pe-insights.com. Conversely, reports suggest that LPs are slashing budgets allocated to Africa privateequityinternational.com due to waning risk appetites, even as the region's $5.4 trillion in sovereign wealth capital has recently trended inward privateequityinternational.com.
Technology and AI Investment Trends
Venture and growth equity investments continued to favor AI-adjacent technologies, with Kleiner Perkins closing its latest funds news.crunchbase.com totaling $3.5 billion, split between $1 billion for early-stage KP22 and $2.5 billion for growth-stage deployment news.crunchbase.com. In AI infrastructure, Gimlet Labs secured an $80 million Series A techcrunch.com for technology enabling simultaneous AI inference across NVIDIA, AMD, Intel, and other chips techcrunch.com, while AI notetaking startup Granola achieved unicorn status with a $125 million Series C round sifted.eu. Seed funding, while slowing overall due to fewer massive AI rounds, is skewing toward larger deals; specifically, only rounds of $10 million and above grew news.crunchbase.com in the U.S. market in 2025 news.crunchbase.com. In the insurtech space, Terminus Capital invested pehub.com in Andesa to enhance its administrative tools, and GPI-backed Hopper OS acquired pehub.com healthcare data firm Efferent pehub.com.
Defense, Space, and Specialized Tech
The defense and space sectors attracted focused capital, with Chimney Rock Equity acquiring pehub.com United Electronics Company (UEC), driven by demand for services supporting aircraft and ground vehicles pehub.com. This aligns with broader PE interest in defense, as Advent prepares to deploy $1 billion pe-insights.com into the sector. In spacetech, Arinna raised a $4 million seed round techcrunch.com for ultra-thin, efficient solar cells designed for spacecraft, addressing the space power challenge techcrunch.com, and Swiss firm Pave Space raised $40 million sifted.eu amid escalating concerns over space sovereignty sifted.eu. Furthermore, TSCP invested pehub.com in govtech firm Karpel, which services prosecutor and public defender offices nationwide pehub.com.
Exit Environment and Operational Shifts
Exit activity in Asia-Pacific remains sluggish, with Bain & Co reporting that the number of APAC portfolio companies privateequityinternational.com held for over five years increased by 18% in 2025, indicating an overhang that needs clearing privateequityinternational.com. In Europe, Advent partially exited pe-insights.com its position in Trustpilot via a discounted sale of its £46 million stake as shares subsequently fell pe-insights.com. On the operational side, internal friction appears in investor relations, as anecdotes suggest AI is already impacting IR functions, and GPs are facing friction in the fund finance process privateequityinternational.com. Additionally, market participants are grappling with the implications of technology; for instance, CVC and Silver Lake are testing pe-insights.com a potential $6.7 billion IPO for RAC pehub.com, while Alterra is backing General Atlantic pehub.com in the IoT space.
Financial Services and Wealth Management
The financial services sector saw targeted growth investments, including WPCG and HGGC investing pehub.com in RIA Verdence through the sale of Emigrant Partners’ stake pehub.com. Meanwhile, Bain Capital secured a A$430 million loan pe-insights.com, equivalent to $300 million, to finance its acquisition in the Australian wealth management sector pe-insights.com. In firm structuring, advisory groups are expanding capabilities; Jefferies onboarded senior talent secondariesinvestor.com from Lazard to bolster its secondaries advisory team amid jockeying for competitive position secondariesinvestor.com, and AltamarCAM enhanced privateequityinternational.com its secondaries capabilities following an acquisition, addressing heightened interest in market liquidity privateequityinternational.com.