Private Equity 3 Days

Last updated: March 31, 2026, 8:30 PM ET

Fundraising & Capital Markets Activity

Private equity fundraising momentum remains strong, particularly in the mid-market segment, evidenced by Inflexion closing its Buyout Fund VII at €4.5 billion (approximately $4.9 , exceeding its target. This success follows a strategic decision by the mid-market player to selectively add wealth capital to its oversubscribed €4.5 billion raise after observing significant demand from wealth managers. Further demonstrating the demand for specialized financing, 17Capital secured a record $7.5 billion for its Credit Fund 2, signaling accelerating appetite for private equity financing solutions. Meanwhile, in the credit space, Ares led a $1.7 billion continuation vehicle for Antares to unlock liquidity within private credit portfolios, a structure gaining traction amid broader market needs.

Dealmaking Momentum Across Sectors

Deal activity showed broad industry participation, with significant activity in healthcare, industrials, and technology services. In wealth management, Carlyle agreed to acquire a majority stake in MAI Capital Management for a reported $2.8 billion valuation, while separately, Investcorp-backed Resultant acquired Liberty Advisor Group to bolster its M&A advisory services aimed at private equity clients, with plans for one to two add-on deals annually. The industrial sector saw multiple transactions, including Oak Hill completing its buyout of internet provider Hunter Communications, and Inflexion moving to acquire fire protection firm Marioff, which specializes in high-pressure water mist suppression systems. Furthermore, in specialized services, HGGC successfully sold its Planet Fitness franchisee to Flynn Group, with Monogram Capital Partners also exiting its remaining position in the transaction.

Technology, AI, and Specialized Investments

The intersection of private equity and artificial intelligence continues to drive premium valuations and strategic investment, especially at the seed stage, where many AI startups are commanding $40 million valuations. This trend is mirrored in dedicated early-stage funding, as Runway launched a $10 million fund specifically to back companies building with its AI video models for real-time "video intelligence." Sector-specific, growth-focused investments included TA Associates backing iBase-t to scale its AI-driven manufacturing solutions within aerospace and defence, while in core enterprise technology, Maven successfully exited AccessPay to Accel-KKR, a software product connecting back-office finance systems to banks. Separately, 26North is acquiring tech company Intermedia Intelligent Communications from seller Madison Dearborn Partners, signaling continued PE interest in specialized communication platforms.

Exits, Exits, and Secondary Market Dynamics

Firms are actively seeking exits across various asset classes, with Advent and Cinven weighing options for TK Elevator, considering either an IPO or a sale amid speculation involving a Kone deal. In the real estate segment, Blackstone agreed to sell its Spanish housing portfolio to Brookfield Asset Management for $1.4 billion, marking a major exit in the Iberian residential market. Meanwhile, the secondary market is adapting to liquidity pressures; Palico is reducing its transaction fees to 5 basis points for sales exceeding $50 million in an effort to attract larger volumes through the LP-led digital marketplace. Additionally, Alantra is set to sell a minority stake in French fund-of-funds manager Access Capital Partners for €115.1 million, with completion anticipated in the second half of the year.

Operational Enhancements and Personnel Moves

Firms are strengthening teams and executing bolt-on acquisitions to enhance portfolio value. Angeles Equity Partners appointed Derek Rush as VP to focus on evaluating and managing investments specifically within the industrials sector, reflecting a targeted approach to deal sourcing. In the healthcare vertical, Bridgepoint-backed Prescient snapped up Dolon, a London-based pricing and market access consultancy focused on oncology and rare diseases, while Gryphon-backed VIP acquired Frederick Eye Institute, expanding its Mid-Atlantic eye care platform to 69 locations. In internal promotions, Lime Rock elevated Jeffrey Scofield to president, while also promoting Dylan Blackford to managing director, signaling leadership continuity.

Regulatory Focus and Credit Markets

Regulatory scrutiny on retirement plan allocations and credit market conditions is shaping investment strategy. U.S. regulators are reinforcing the fiduciary framework governing 401(k) plans, though a separate proposal aims to ease litigation fears for fiduciaries offering alternatives like private equity in retirement plans providing a safe harbor. In the debt markets, JPMorgan faces pushback from investors over the $7.2 billion debt package backing the CD&R buyout of Sealed Air, indicating sensitivity around large leveraged financing deals. In response to market shifts, Permira is targeting discounted software loans, positioning itself to acquire assets cheapened by broader fears surrounding AI's impact on technology credit.