Private Equity 3 Days

Last updated: May 12, 2026, 11:30 AM ET

Dealmaking Trends & Fund Activity

Global private equity activity in the first quarter revealed a divergence between volume and value, with the number of completed deals falling while overall transaction value saw a considerable rise, according to S&P Global Market Intelligence data . This trend is reflected in the secondaries market, where uncertainty has reportedly caused a dent in otherwise burgeoning volumes, prompting industry participants to urge caution regarding evergreen marketing strategies. On the fundraising front, PSG is seeking €3.4bn for its third European software fund, aiming for a final close in the first half, while DBJ Asset Management signaled plans to expand its private equity exposure in 2026 by actively pursuing new general partner partnerships.

Exits & Continuation Vehicles

Exits saw significant valuation achieved in the aerospace sector, as Gen Nx360 sold Precision Aviation Group to VSE for a reported consideration exceeding $2bn. Meanwhile, continuation vehicles (CVs) remain a key tool for liquidity management; Verdane closed a €635M multi-asset CV, with Coller Capital emerging as the sole lead on a separate Verdane vehicle exceeding €600M, which included Step Stone co-underwriting the transfer of exposure to the Arrive Group. In contrast, LDC successfully exited construction data firm BCIS via a sale to Bowmark Capital, marking a clear path for realization in the specialized data sub-sector.

Sector-Specific Acquisitions: Industrials & Services

Activity across industrials and business services saw several platform expansions. Apollo Global Management acquired Noble Environmental, a provider specializing in waste collection, hauling, transfer, and disposal for commercial and municipal clients. In the Nordic region, Altor moved to acquire a majority stake in Sertion, which offers specialized pipework services across industrial and infrastructure end markets. Furthermore, AnaCap launched its Italian platform, Titan, immediately agreeing to acquire a majority stake in Cattaneo Dall’Olio Rho Tax & Legal Group to build out professional services capabilities.

Healthcare & Life Sciences Transactions

The healthcare sector was active with strategic bolt-on acquisitions across advisory and direct services. A Chartis subsidiary, HealthScape Advisors, which focuses on payer advisory, acquired the independent pharmacy specialist Payer Ally. In biopharma consulting, Five Arrows-backed BioPhorum snapped up PharmaX Solutions. Separately, Lorient invested in the health platform PeterMD to fuel its national expansion efforts, while Branford Castle-backed Lafayette acquired Sutter Instrument, a manufacturer of scientific instrumentation for life sciences.

Technology, Software, and AI Focus

Technology remains a core focus, though specialization is becoming essential, as suggested by Bridge Growth Partners’ Alok Singh. Blackstone is moving to acquire a majority stake in Greek online marketplace Skroutz from CVC, while Bridgepoint-backed NMi Group acquired testing laboratory TechnoLab, complementing NMi's existing A&D focus via its ATIC business. In the realm of specialized software, Verdane will acquire a stake in Telenor Connexion, the IoT unit of the major telecom operator, and TA Associates backed govtech firm Govineer Solutions, facilitating a full exit for Peterson Partners.

Venture Capital & Frontier Technology Investments

Venture funding in Europe shows a growing concentration around Artificial Intelligence, with a significant percentage of 2026 funding directed toward AI-driven startups, including investments in new frontier model companies. This technological push is also driving infrastructure spending; Blackstone and Halliburton committed $1bn to VoltaGrid to accelerate the deployment of behind-the-meter power solutions specifically for data centers and microgrids. In biotech, the DeepMind spinout Isomorphic Labs raised $2.1bn, underscoring major capital flows into deep science. On the quantum front, European startups face a looming commercial talent crunch, although one quantum software firm, Algorithmiq, successfully raised €18M and relocated to Italy.

Sports & Consumer Sector Deals

Private equity is increasingly tapping into the lucrative sports ecosystem. Bruin Capital took a minority stake in Matchroom Sport, which promotes and produces various sporting events. Dynasty Equity’s CEO, Don Cornwell, noted that business models are finally aligning with the passion for sports, citing portfolio investments including Unrivaled Sports and Liverpool FC. In consumer services, Dynamic Core-backed Party Reflections acquired Creative Solutions Special Events, indicating consolidation in the event rental market.

Personnel Moves & Firm Strategy

Key appointments across the industry signal strategic shifts in investor focus and capital formation efforts. Mako recruited Vanessa Gabela as partner and IR head to oversee capital formation, while Shore Capital appointed Aurelio Banda as executive operating partner to spearhead platform strategy for building an industrial automation distributor. Bridge Growth Partners added significant operational depth, tapping Ragunath Ramanathan as executive partner and Zane Rowe as senior advisor, the latter currently serving as Workday’s CFO. Meanwhile, Calera Capital brought on Michael O’Brien to lead business development efforts as managing director.