Private Equity 3 Days

Last updated: April 10, 2026, 8:30 AM ET

Fundraising & Market Recovery

Signs are emerging that the challenging fundraising environment for private equity may be stabilizing, as the average time funds spend on the road to close has fallen to 14 months, marking the shortest duration since 2022. This improvement is further evidenced by the fact that nearly half of all PE funds that finalized closures in Q1 achieved their fundraising targets, representing the highest proportion seen in at least five years. Concurrently, major firms are scaling up platforms; Sagard completed its integration with Unigestion Private Equity, formalizing a partnership intended to scale the combined private equity platform to approximately $23 billion in assets under management. Meanwhile, large funds continue to close successfully, with Court Square Capital Partners securing $3.8 billion for its fifth flagship fund, exceeding its target in a record raise for the firm.

Credit & Secondaries Activity

The credit secondaries market is showing notable activity, with firms like Arcmont viewing the market as an "absolute sweet spot," as CEO Anthony Fobel indicated openness to dealing with traditional private debt competitors in the future. In parallel, the secondary market for venture capital is seeing an AI-driven uplift, though this recovery raises questions regarding the sustainability of pricing rebounds driven by AI technology disruptions. Further bolstering the credit space, Morgan Stanley is preparing to launch a new private credit vehicle to capitalize on the current liquidity squeeze facing the market. In related maneuvers, Neuberger Berman led a continuation vehicle to support Tailwind Capital's Axis Portable Air, indicating continued interest in single-asset liquidity solutions.

Major Transactions Across Sectors

Private equity firms executed several large-scale acquisitions and divestitures across infrastructure, healthcare, and industrial sectors. Blackstone and TPG finalized a take-private buyout of women’s health firm Hologic, a deal bolstered by significant minority investments from the Abu Dhabi Investment Authority and GIC. In aerospace and defense, Blackstone partnered with Tinicum to strike an $1.85 billion deal for UK-listed supplier Senior, while in a separate transaction, Tinicum and Blackstone also agreed to a take-private of an unnamed engineering company. Furthermore, EQT agreed to divest its stake in a Nordic ferry infrastructure business to a consortium including Rederiaktiebolaget Gotland and Interogo Infrastructure, following an earlier report that EQT sold a stake in the operator. In pharmaceuticals, GTCR finalized its acquisition of European generics company Zentiva from Advent, having previously announced the completion.

Sector-Specific M&A and Growth

Activity in infrastructure and technology remains high, with Blackstone taking a minority stake in Rowan Digital Infrastructure, a company already backed by Quinbrook. Concurrently, Blackstone teamed with Dubai Aerospace Enterprise to launch an aircraft leasing program targeting $1.6 billion annually. In the IT services space, Charlesbank led an investment round in Bridgepointe Technologies, with Carlyle Alp Invest also participating in the funding. In specialized industrial carve-outs, Mutares agreed to acquire two automotive supplier businesses from Magna to construct a $320 million automotive platform. Meanwhile, the trend of re-acquiring assets continued, as Energy Capital Partners re-acquired nuclear waste management firm Energy Solutions, marking the second time ECP has bought the company, amid a clear surge in nuclear investment interest.

Healthcare, Consumer, and Industrials Deals

The healthcare and personal care sectors saw targeted deal-making, with Avista acquiring Bentech Medical from sellers Greyrock and Hermitage Equity Partners, and Council Capital snapping up health tech firm Medical Service Quotes.com, backed by PMPK. Personal care brands are attracting attention, with firms like Advent, Round Table, and Gemspring gaining traction in building consumer relationships through acquisitions. In the broader industrial space, Ara Partners committed up to $500 million to waste management firm Sedron to accelerate its development pipeline across North America. In specialized manufacturing, Juniper Capital sold Precision Aerospace to Centerbridge-backed Precinmac, a manufacturer serving defense and power generation. Additionally, Gamut Capital acquired Acousti Engineering from Ardian, which had previously transformed the platform.

Technology, Defense, and IPO Watch

Defense technology is proving particularly attractive, with Madison Dearborn-backed Aevex setting terms for a $336 million U.S. Initial Public Offering, targeting a $2.35 billion valuation. In the broader technology M&A environment, Gryphon-backed Caylent acquired Amazon Web Services partner Pronetx, while Francisco Partners is moving to take Blackline Safety Corp private for $850 million, expected to close in Q2 2026. Fintech funding globally showed a mixed picture in early 2026, with total venture dollars reaching $12 billion across only 751 deals as of April 6, a 5% dollar increase year-over-year despite fewer transactions. Furthermore, European venture capital saw a four-year high in the number of $1 billion-plus startups minted recently, even as startups like AI tax automation firm Juno raised $12 million to streamline SMB accounting processes.

Firm Strategy and Personnel Moves

Firms are making strategic personnel and structural adjustments to navigate current market complexities. H.I.G. Capital appointed long-time executive Brian Schwartz as its new Chief Executive Officer, while Sovereign announced two internal promotions to bolster its investment team. In the credit sector, Chicago Atlantic is expanding into emerging markets private credit as U.S. investor pullback creates opportunities abroad. Meanwhile, LP groups are advising caution regarding evolving fund structures; ILPA warned investors about tiered carry structures designed to align sponsors and secondaries buyers. For instance, Neuberger Berman structured a vehicle for Tailwind’s Axis Portable Air, a structure where variable profit-sharing arrangements can sometimes lead to short-term performance boosts through secondaries mark-ups, a phenomenon JPMorgan Asset Management noted.