Private Equity 3 Days

Last updated: April 12, 2026, 8:30 AM ET

Fundraising & Credit Markets Momentum

Private equity fundraising, while challenging, showed brighter spots in the first quarter, with nearly half of the funds closing meeting their targets, marking the best proportion in five years, which suggests improving deployment timelines, which averaged just 14 months in Q1. Blackstone capitalized on persistent investor appetite for defensive strategies by raising $10 billion for its latest opportunistic credit fund, while Court Square Capital Partners secured $3.8 billion for its fifth flagship fund, closing above its initial target in a record raise. Furthermore, the credit secondaries market is proving attractive to major players, with Arcmont seeing “enormous benefit” in this burgeoning area and expressing openness to dealing with traditional private debt competitors, while JPMorgan Asset Management noted that some evergreen funds are seeing short-term performance boosts derived from secondaries mark-ups, leading to potential rationalization.

Sector-Specific Acquisitions & Disposals

Activity across healthcare and infrastructure sectors remained brisk, exemplified by Sterling's acquisition of Healthcare Linen Services Group from York Private Equity, and increasing PE interest in specialized medical services, as Advent, Avista, and Main Post all gained traction in the personal care space, with a specific focus on women’s health drawing in major players like Blackstone and TPG to complete the take-private of medtech developer Hologic. Elsewhere, dealmakers continued to shape infrastructure portfolios; EQT agreed to divest its stake in Nordic Ferry Infrastructure to a consortium including Interogo Infrastructure, while Blackstone concurrently took a minority stake in Rowan Digital Infrastructure, a firm backed by Quinbrook. In industrial services, Ara Partners committed up to $500 million to accelerate waste management firm Sedron’s expansion across North America, while Onex Partners finalized a $1.6 billion multi-asset continuation vehicle covering holdings such as Fidelity Building Services Group.

Technology, AI, and IPO Preparation

Venture capital and pre-IPO activity centered heavily on next-generation technology, particularly semiconductors and defense; Nvidia-backed SiFive achieved a $3.65 billion valuation following a $400 million funding round for its RISC-V-based open AI chip designs, placing it among the week's ten largest funding rounds globally. Concurrently, defense contractor Aevex, backed by Madison Dearborn Partners, is preparing for a $336 million U.S. IPO, targeting a post-money valuation of $2.35 billion. In the broader tech ecosystem, Gryphon-backed Caylent expanded its AWS partnership capabilities by acquiring tech firm Pronetx, and in the fintech vertical, global funding totaled $12 billion across 751 deals in Q1 2026, though smaller players like AI tax prep startup Juno secured more modest $12 million rounds.

European Activity and Secondaries Market Dynamics

European dealmaking saw strategic exits and major acquisitions, as GTCR finalized its takeover of generics pharmaceutical company Zentiva from Advent, while EQT simultaneously sold a stake in a Nordic ferry operator. In the secondaries arena, activity remains high, with China’s Ping An Insurance reportedly exploring a circa $1 billion portfolio sale—its sixth such process. Investor diversification drives are pointing toward potential opportunities in the Asia-Pacific region, even as internal tensions arise regarding carry structures in continuation funds, according to recent LP analysis. Separately, LPs are shifting priorities, as detailed in a recent data dive, while Europe minted the highest number of $1 billion-plus startups in four years.

Sports Finance and Infrastructure Bets

Major institutional investors are being courted for minority stakes in high-profile sports assets, as firms including Apollo, CVC, Ares, and Sixth Street were sounded out regarding a potential minority investment in Italy’s Serie A football league. This focus on high-value, tangible assets extends to infrastructure, where Blackstone has partnered with Dubai Aerospace Enterprise to launch a $1.6 billion annual aircraft leasing program. In the lower middle market, dealmaking continues across various niches; Granite Creek-backed Salem One acquired brand development agency Smash Brand, while Avista purchased medical device maker Bentech Medical from Greyrock and Hermitage Equity Partners.