Private Equity 3 Days

Last updated: March 29, 2026, 11:30 PM ET

Private Equity Dealmaking & Exits

The private equity sector is clearly shifting priorities as the era of cheap debt and inflated multiples wanes, leading to a more selective investment approach where substance now outweighs mere deal structuring. This shift is evident in recent exits, with Advent preparing to fully divest its holding in the hair care brand Olaplex, selling it to Henkel for $1.4 billion, a transaction that will remove the company from the Nasdaq listing. Further transactions show PE rotation across sectors: HIG Capital is selling a Brazilian internet service provider to Claro for approximately $750 million, while in the enterprise software space, SAP announced its intention to acquire New View Capital-backed Reltio, with closing anticipated in mid-2026.

In the advisory and secondary markets, service providers are fortifying capabilities to meet evolving client needs, exemplified by Evercore expanding its Europe-based credit secondaries team through the hiring of four new professionals, two of whom are joining from PJT. Simultaneously, firms are making targeted platform investments; Advent plans to inject capital into the engineering and consulting firm Atwell, expecting the deal to finalize in the second quarter of 2026. Meanwhile, Bonaccord made a minority investment in the commercial real estate credit platform Prime Finance to bolster its balance sheet and expand its credit offerings, signaling activity even in specialized credit niches.

Sector Focus: Healthcare & Technology

Dealmakers are increasing focus on pathology assets and the broader women’s health sector, which Kearney estimates presents a "$1 trillion gap" opportunity, attracting interest from firms including Astorg, Cinven, and Nordic Capital. This targeted M&A activity in healthcare continues, with LDC, the private equity arm of Lloyds Banking Group, completing its divestiture of occupational health business PAM Healthcare to Optima Healthcare. In technology, the acquisition spree continues, as seen by OpenAI disclosing an additional $10 billion raise this week, leading activity in a week that saw a pickup in large-scale funding rounds across AI and defense sectors.

Venture Capital Environment & Talent Restructuring

The venture ecosystem shows pockets of high activity contrasting with broader cost-cutting measures among early-stage firms. Austin's startup scene reported its venture funding reaching an all-time high, indicating geographic strength even as national trends fluctuate. Venture firms are actively scouting for next-generation AI and deeptech companies, with investors keenly following pitches at events like YC Demo Day, where startups focused on everything from Moon hotels to cattle herding garnered significant investor attention. In contrast to the capital flowing into growth, some European venture firms are retrenching operations; for example, Speedinvest announced it is cutting 10% of its team following a period marked by internal churn and a need to align staffing with the current financing climate.

AI Integration and Startup Watch

As investment matures, the emphasis in the technology space has moved from initial hype toward tangible impact, particularly concerning the scaling of businesses using artificial intelligence. Investors are closely watching companies that demonstrate clear revenue paths, such as Brahma, a Synthesia rival, which is forecasting $100 million in revenue. Beyond the major hubs, activity remains strong in specialized tech ecosystems; investors are tracking 11 Spanish AI startups that show promise, while the Oxford area sees intense competition among investors hunting for deeptech breakthroughs resembling firms like Deep Mind.