Private Equity 3 Days

Last updated: April 19, 2026, 8:30 PM ET

Private Equity Fundraising & Secondaries Strength

Private equity fundraising maintained a strong pace, particularly within the secondaries market, where funds *collected nearly $39bn in Q1 2026. This momentum is exemplified by Partners Group closing its latest secondaries program with over $9 billion in commitments, underscoring continued institutional demand for liquidity solutions in private assets. Elsewhere, Lexington led the advisory role on a substantial $1.8 billion portfolio, known as Project Trident, which insurer Met Life was offering to the secondary market via Evercore. Meanwhile, Pollen Street is building out a dedicated GP-led strategy focused on European mid-market opportunities, signaling a targeted approach following the hiring of Brookfield’s former co-head of sponsor solutions, Mark McDonald.

Dealmaking and Sector Focus

Deal activity spanned infrastructure, consumer brands, and specialized healthcare, reflecting broad investment mandates across the asset class. On the infrastructure front, KingSett Capital and Choice Properties agreed to acquire First Capital REIT in a massive $6.85 billion transaction, marking a major push into Canadian retail property. In the credit space, Ares committed up to $300 million to a new vehicle with Clearwater aimed at scaling up Commercial Property Assessed Clean Energy (C-PACE) financing. Furthermore, specialized healthcare saw increased PE focus, with firms including Goldman Sachs and Aquitaine Capital investing in the autism care sector to pursue platform scaling opportunities across five recent deals.

Exits and Public Market Activity

Firms continued to execute exits and bring portfolio companies public, bolstered by potential regulatory tailwinds. Carlyle successfully exited its investment in KFC Korea, acquiring the franchise from Orchestra Private Equity following a three-year turnaround effort. In the U.S., Madison Dearborn-backed Aevex is set to go public with underwriting led by Goldman Sachs and Bof A Securities. Globally, GIC-backed Envision AESC is exploring a Hong Kong listing* that could potentially raise up to $2 billion, indicating continued appetite for battery and EV-related assets in Asian public markets. Separately, European regulatory shifts, specifically the potential relaxation of antitrust rules, are viewed by EY-Parthenon as a positive catalyst for accelerating PE exits.**

Strategic Acquisitions and Portfolio Expansion

Add-on acquisitions remained a key component of PE value creation strategies. PAI Partners-backed specialty manufacturer Pasubio expanded its material capabilities by acquiring Luilor, an Italian textile maker serving luxury and fashion houses. In the consumer space, General Atlantic secured a new minority investment in Joe & the Juice, bringing in Abu Dhabi capital at a $1.8 billion valuation for the global juice chain. In stark contrast to PE’s established asset classes, venture capital showed massive concentration in emerging technologies, with *AI startups absorbing half of all European tech funding.

Venture Capital Shifts and Leadership Changes

The broader technology financing ecosystem is undergoing rapid evolution, heavily weighted toward artificial intelligence development. While AI startups consume significant capital* partly due to current foundation model limitations, venture leaders are preparing for scaling. Sequoia secured $7 billion in new capital* under new co-stewards Alfred Lin and Pat Grady, earmarking the funds to expand its AI concentration. Meanwhile, the broader venture environment saw large primary financings, with the *$650 million round for electric truck maker Slate Auto leading the week’s top deals, closely followed by substantial investments in biotech and autonomous transit, where overall funding *more than tripled in 2026. In a separate note impacting the venture community, SV Angel’s Ron Conway announced he is stepping back from some activities due to a rare cancer diagnosis, though he confirmed he will continue to support portfolio founders. European public money is also *flowing heavily into VC and startups, nearing €80 billion, raising questions about market necessity.