Private Equity 3 Days

Last updated: March 29, 2026, 2:30 PM ET

Private Equity Strategy & Exit Activity

The private equity sector is entering a more selective phase, moving away from a decade characterized by readily available cheap debt and inflating multiples toward a focus on operational substance over mere financial engineering, as suggested by commentary indicating that "12 is the new 5" in deal structuring. This strategic shift is evident in recent exit activity, where Advent is reportedly preparing to divest its stake in the hair care brand Olaplex to Henkel for $1.4 billion, marking a full exit from the Nasdaq-listed asset. Concurrently, HIG Capital is selling its Brazilian internet service provider to Claro in a transaction valued around $750 million, illustrating ongoing portfolio monetization across diverse geographic regions and sectors.

Sector Focus: Healthcare & Technology M&A

Dealmakers are increasingly concentrating capital deployment in specialized healthcare niches, with Kearney’s Paula Bellostas Muguerza pointing to a $1 trillion gap attracting private equity interest in women’s health solutions. Within this specialized focus, firms including Astorg, Cinven, and Nordic Capital are actively pursuing pathology assets, signaling a trend toward consolidating fragmented diagnostic services. In the technology space, large strategic acquirers remain active, as evidenced by SAP’s planned takeover of NewView Capital-backed Reltio, a transaction anticipated to finalize in the second or third quarter of 2026. Furthermore, LDC, the PE arm of Lloyds Banking Group, finalized its exit from PAM Healthcare to Optima Healthcare, driven by sector tailwinds in GLP-1 related products and preventative care.

New Capital Deployment & Boutique Expansion

New capital deployment continues across various asset classes, with Advent planning an investment into the engineering and consulting firm Atwell, which is scheduled to close in the second quarter of 2026. In credit markets, Bonaccord deployed a minority investment into the commercial real estate credit platform Prime Finance, aiming to bolster its balance sheet and expand its lending capabilities. The secondary market is also seeing expansion, as Evercore is building out its Europe-based credit secondaries team by hiring four new professionals, including two individuals transitioning from PJT. Meanwhile, the volatility in the venture ecosystem is causing some contraction, with European venture firm Speedinvest cutting approximately 10% of its staff following a period of internal churn.

Venture Ecosystem Activity & AI Focus

The broader venture capital environment is experiencing high levels of activity in specific hubs and thematic areas, even as firms adjust staffing. Austin, Texas, has seen its startup funding reach an all-time high, reinforcing the city's position as a major technology center. Large financing rounds continued globally, led by OpenAI’s disclosure of raising another $10 billion in a week that featured significant investment across AI and defense sectors. At seed-stage events like YC Demo Day, investors chased startups focused on diverse areas, ranging from developing "Moon hotels" to cattle herding solutions, with 16 companies drawing particular interest from the cohort. The pervasive influence of artificial intelligence is also apparent in Europe, where investors are keenly observing Spanish startups and searching for the next major deeptech success, with firms like Brahma forecasting $100 million in revenue as a Synthesia rival.