Private Equity 3 Days

Last updated: March 31, 2026, 5:30 PM ET

Fundraising and Capital Markets Activity

Private equity fundraising showed continued momentum, particularly in the mid-market space, as Inflexion successfully closed its Buyout Fund VII above its target at €4.5 billion (approximately $4.9 , strategically adding non-institutional capital from wealth managers to this oversubscribed vehicle. Parallel to this, specialized credit managers are also capturing significant capital, with 17Capital closing its Credit Fund 2 at a record $7.5 billion, underscoring accelerating demand for Net Asset Value (NAV) loan facilities. On the GP financing front, Dawson surpassed its target, securing over $800 million for its latest GP financing strategy, Dawson GP Finance 2, which closed at a hard-cap of $750 million. Meanwhile, in the secondaries market, Palico is reducing fees to 5 basis points for sales exceeding $50 million in an effort to attract larger transactions to its LP-led digital marketplace.

Mega-Deals and Sector Exits

Major portfolio actions were evident across sectors, highlighted by Leonard Green preparing to sell Jetro Restaurant Depot to Sysco for a massive $29.1 billion, involving a retailer that serves over 725,000 independent foodservice operators across 35 states. In Europe, CVC Capital Partners submitted a non-binding offer valued at $12.6 billion to acquire full control of Italian pharmaceutical company Recordati in a proposed buyout. Conversely, Blackstone agreed to divest its Fidere residential housing portfolio in Spain to Brookfield Asset Management for $1.4 billion, marking a significant exit from the Iberian real estate market. Furthermore, in a transaction reflecting a major turnaround, Aurelius is moving to sell the LSG Asia-Pacific airline catering business, which it had initially acquired from Deutsche Lufthansa in 2023.

Financial Services & Technology Buyouts

The financial services sector saw several strategic moves, including Carlyle agreeing to acquire a majority stake in MAI Capital Management, valuing the wealth management platform at over $2.8 billion. In related advisory activity, Investcorp-backed Resultant acquired Liberty Advisor Group, bolstering its M&A advisory services aimed at private equity firms and Fortune 500 clients, with Resultant planning one to two such add-on deals annually. In enterprise software, 26North is moving to acquire the tech company Intermedia Intelligent Communications from seller Madison Dearborn Partners, while Maven exited its position in Access Pay, a software vendor connecting back-office finance systems to banks, selling to Accel-KKR.

Healthcare and Life Sciences Transactions

The healthcare and life sciences vertical remains a key area of focus for private equity deployment. Bridgepoint-backed Prescient snapped up healthcare technology firm Dolon, a London-based consultancy specializing in pricing and market access for rare diseases and oncology. Elsewhere, Kain Capital invested in White Wilson Medical Center, appointing a new CEO concurrent with the deal, while Gryphon-backed VIP acquired Frederick Eye Institute, expanding its Mid-Atlantic eye care platform to 69 locations. In specialized pharma services, MTIP invested in Verifarma, a regulatory compliance provider serving 2,000 companies across 26 countries since its founding in 2007.

Industrial & Business Services Consolidation

Consolidation continued across industrial and specialized business services, demonstrating PE interest in infrastructure and essential services. Wynnchurch-backed Archer is set to acquire Sterno’s portable food-warming and tabletop solutions business via a carve-out transaction. In the environmental services space, Coalesce-backed Miller acquired industrial service firms Haz-Mat and Canco, broadening its waste and environmental offerings. Meanwhile, in the security sector, Inflexion is acquiring Marioff, a provider of high-pressure water mist fire suppression systems, while Hyperion-backed Ranger Fire and Security acquired Total Fire Group to expand its footprint in the UK and Ireland fire and security market.

Investment in AI and Next-Generation Technology

Venture and growth equity investments are heavily skewed toward Artificial Intelligence, with Wearable tech firm Whoop raising $575 million in Series G funding at a $10.1 billion valuation, supported by institutional investors alongside athlete and celebrity backers. This AI focus extends to infrastructure, as TA Associates invested in software firm iBase-t to support its global expansion and scale AI-driven manufacturing capabilities, particularly within aerospace and defence. Separately, the trend of AI dominating early-stage funding is clear, as a new $10 million fund was launched by Runway specifically to back early-stage AI startups building with its video models. Furthermore, credit data startup 9fin achieved unicorn status following a $170 million raise, capitalizing on the broader European push toward AI-native fintech operations.

Dealmaking in Infrastructure & Real Estate Services

Firms continued to deploy capital into essential infrastructure and related services. Blackstone-backed Mundys is increasing its stake toward a 30% holding in Getlink as part of its broader infrastructure investment mandate. In the building materials space, TruArc Partners acquired Matrix Adhesives Group from Goldner Hawn, with Matrix’s existing CEO remaining in his role. For essential infrastructure maintenance, New State-backed Universal Plant Solutions picked up engineering firm Mechanical Solutions Inc., a provider of rotating and reciprocating equipment services. Concurrently, infrastructure advisory was bolstered by Rockbridge-backed FormativGroup snapping up consulting firm Flok, a technology and engineering services provider.

Regulatory Environment & Internal Firm Movements

The operational and regulatory environment for private equity is shifting, particularly concerning retail investment access, as the U.S. Department of Labor reinforced the fiduciary framework governing private equity offerings within 401(k) plans, providing potential safe harbour for fiduciaries. Internally, firms are making key leadership appointments, such as Lime Rock promoting Jeffrey Scofield to president and Dylan Blackford to managing director. In contrast, Angeles Equity Partners appointed Derek Rush as Vice President to concentrate on evaluating and managing investments specifically within the industrials sector, while mid-market managers are increasingly adopting multi-asset class structures to achieve critical mass, according to Elm Capital's 2025 review.