Private Equity 3 Days

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

Healthcare & Software Buyouts Lead PE Activity

Private equity dealmaking showed continued specialization, particularly in healthcare services and enterprise software, as firms sought platforms for expansion. MKH Capital snapped up Haven Health Management, a transaction encompassing 22 behavioral health facilities intended for aggressive expansion across the U.S. and Puerto Rico, signaling continued interest in fragmented healthcare verticals. In the software space, STG acquired freight management software firm Carrier Logistics Inc., with plans to integrate advanced agentic AI frameworks into the core architecture to drive product innovation. Furthermore, Bridgepoint-backed Alpha FMC will acquire JPSB Group, a specialist consulting firm focused on Sim Corp implementation, demonstrating a targeted approach to acquiring niche technology expertise.

Exit Activity and Portfolio Divestitures

Exit activity saw strategic sales across various sectors, including a technology divestiture and a consumer hardware transaction. OpenGate-backed S&G sold Delaney Hardware to Hillman Solutions Corp., marking a successful exit for the sponsor. Elsewhere, Eurazeo is set to acquire Netco, an international operator specializing in the maintenance and servicing of conveyor systems, from Ardian, a deal that feeds into broader investment themes focused on industrial maintenance infrastructure. Meanwhile, in the fast-moving consumer goods sector, Aksìa-backed Fornaio del Casale executed three add-on acquisitions, bolstering its footprint in the Italian bakery product market since its establishment in 1969.

Data Center IPOs and IT Services Transactions

The infrastructure investment trend continues to mature, evidenced by major filing activity and sustained M&A in IT services. Blackstone filed paperwork for the initial public offering of its newly acquired data center vehicle, offering a sweetener to potential IPO investors: those purchasing a minimum of 100 shares "will receive an additional 1 percent of their investment amount in shares of our common stock". The IT services sector remains active, with deals led recently by firms like Gen Nx360 and AEA Investors, alongside Sterling Partners, underscoring sustained appetite for digitized business process outsourcing.

Talent Moves and LP Strategy Adjustments

The competition for senior talent and evolving limited partner (LP) mandates are shaping firm strategies across the industry. EQT hired Teia Merring, formerly the senior investment director for private equity at the UK’s Universities Superannuation Scheme (USS), to take on the role of global head of strategic partnership solutions. Separately, Maple Park appointed Grant Mueller as Vice President for its investment team, tasking him with deal execution and portfolio management responsibilities. Meanwhile, LPs are reportedly becoming more discerning, with some investors growing wary of general partner hyperbole regarding future returns, even as the world’s 13th largest PE investor maintains a bullish stance on venture capital.

Venture Capital Shifts Amid AI Focus

The venture capital environment is undergoing a recalibration, particularly concerning AI-native versus legacy businesses, while geographical funding trends shift. Vercel, the ten-year-old developer tool platform, is reporting an AI-driven revenue surge, positioning the company for a potential IPO despite struggles faced by many pre-Chat GPT startups. In the hardware sphere supporting AI, Nvidia-backed SiFive achieved a $3.65 billion valuation for its open AI chips based on RISC-V architecture, a direct competitor to x86 and ARM designs. Conversely, the UK tech scene faces turbulence, illustrated by concerns over OpenAI’s Stargate plans potentially exposing cracks in local tech ambitions, and Wise is reportedly set to downgrade its London listing this quarter.

Geographic Funding Pockets and Sector Bets

Asia’s startup funding environment posted its strongest quarter in over three years, though scrutiny remains high on venture claims. China propelled Asia’s startup financing to $27.4 billion across all stages in the first quarter, marking a 20% increase from the preceding quarter and nearly doubling year-over-year figures. In specialized VC, Eka Ventures raised £80 million dedicated to investing in startups that are "leaning into regulation," a counterpoint to the broader speculative AI boom. On the sports front, major players including Apollo, CVC, Ares, and Sixth Street are reportedly being sounded out concerning a potential minority investment in Italian Serie A’s international rights, pointing to continued private equity interest in premium sports assets.

Niche Investments and Strategy Retrenchment

Firms continue to seek specialized niche assets, including intellectual property and niche consulting, while some large growth equity strategies are being intentionally wound down. MusicBird acquired the catalog of Supertramp bassist Dougie Thomson, securing master royalty income from classic recordings like “Goodbye Stranger.” In a strategic pivot, Thoma Bravo is planning to wind down its dedicated growth equity strategy and will not raise a subsequent vehicle after its current fund matures, following the departure of the two co-heads of that division. Additionally, Staple Investments backed Corporate Travel Services, which will maintain its existing leadership team post-acquisition.