Private Equity 3 Days

Last updated: April 13, 2026, 5:30 AM ET

Middle Market & Sector Deal Flow

Eurazeo announced its intent to purchase Netco from Ardian, bolstering the French firm's portfolio in international industrial maintenance, specifically targeting the servicing of conveyor systems across various production sectors. This movement occurs as advisory firms note that dealmakers are actively seeking specialized advantages in specific verticals, exemplified by Warburg Pincus launching a dedicated European defense investment platform to capture opportunities in that complex regulatory area. In other lower-middle-market activity, Sterling acquired from York Private Equity, demonstrating continued PE appetite for essential service providers.

The personal care sector saw further consolidation, with firms like Advent, and Gemspring gaining traction by focusing on brands that effectively cultivate direct consumer relationships. This trend mirrors larger strategic plays in adjacent areas, as evidenced by Blackstone and TPG concluding their take-private of women’s medtech developer Hologic earlier in the week, signaling strong investment interest in under-researched segments like women’s health. Additionally, Advent, and Main Post are also placing bets in the personal care space, underlining a broader thematic focus across the industry.

Infrastructure & Credit Markets

Blackstone successfully took a minority stake in Rowan Digital Infrastructure, which is currently backed by Quinbrook, signaling continued capital deployment into core digital assets. Meanwhile, credit markets remain active, with Blackstone raising $10 billion for its latest opportunistic credit fund, capitalizing on investor demand to deploy capital aggressively. The credit secondaries market is also showing strength, as demonstrated by Arcmont’s $2.5 billion vehicle led by Ares, which CEO Anthony Fobel described as being in the "absolute sweet spot," suggesting a willingness to engage with traditional private debt competitors in secondary transactions.

Technology, VC Strategy Shifts, and Valuations

Major shifts are underway in technology investing strategies, with software specialist Thoma Bravo deciding to wind down its dedicated Growth Fund and not raise a subsequent vehicle following the departure of the strategy's two co-heads. This retrenchment contrasts with the high valuations seen in specialized chip design, where Nvidia-backed SiFive secured a $3.65 billion valuation for its open AI chip designs based on the RISC-V architecture, raising $400 million in a significant round this week that led deal volume. The fundraising environment in venture capital shows a bifurcation, as Eka Ventures secured £80 million specifically to invest in startups that are proactively "leaning into regulation," contrasting with broader observations that established players continue to dominate capital deployment in the VC sphere. Furthermore, global fintech funding reached $12 billion across 751 deals in the first quarter of 2026 as of April 6, marking a 5% increase in dollar terms compared to the prior period despite a lower deal count.

Global Dealmaking and Secondaries

Firms are exploring complex maneuvers in asset sales, as China’s Ping An Insurance is reportedly exploring a circa $1 billion portfolio sale via a secondaries process, marking the sixth attempt by the insurance giant to execute such a transaction. In sports finance, several major private equity players, including Apollo, Ares, and Sixth Street, are being sounded out regarding a potential minority investment into the international commercial rights for Italy's Serie A football league. Elsewhere, Granite Creek-backed Salem One, a direct marketing agency, expanded its footprint by acquiring brand development agency SmashBrand.