Private Equity 3 Days

Last updated: May 27, 2026, 11:31 PM ET

Deal-Making & Portfolio Activity

Private equity firms accelerated M&A activity this week as Modella Capital agreed to acquire Flying Tiger Copenhagen in a bid to build an international high-street platform, while DigitalBridge struck a $1.05 billion deal for Arc Light that includes a base purchase price of $650 million plus up to $400 million in contingent consideration. In healthcare technology, Blackstone Life Sciences committed up to $1.3 billion in royalty and debt financing to Apogee Therapeutics, and New Mountain-backed Swoop acquired prescription management platform Nimble to expand its healthcare engagement capabilities. Hg invested $500 million in Rightsline, a provider of rights and royalties management software, as the firm made moves in the busy intellectual property sector alongside Ambienta's No Dig Alliance acquiring Sweden's JS Drilling Solutions.

Capital Raising & Fund Performance

Institutional investors continued deploying substantial capital to private equity strategies, with I Squared Capital committing up to $1 billion to launch a U.S. AI inference data center platform targeting colocation and artificial intelligence workloads. PGIM deployed approximately $4 billion into U.S. residential land-banking transactions through a partnership with Domain Real Estate Partners, marking an aggressive push into asset-based lending. On the fundraising front, Seine Capital closed its debut fund above target after exceeding the vehicle's goal by 20%, while Eurazeo secured more than €1 billion at the first close of its fifth mid-market buyout vintage, PME V. However, CPP Investments reported that private equity assets comprised 22% of its total fund despite returns being weighed down by software investments and currency headwinds.

Personnel Moves & Leadership Changes

Executive promotions and new hires signaled strategic shifts across private equity platforms. EIV Capital elevated Jason Tracton to partner after he joined the firm in September 2022 as managing director of EIV Resources. Carlyle appointed Ian Fujiyama as chairman of its U.S./Europe-focused midmarket platform, building on his perspective that geopolitics and security priorities are driving growth in advanced defense technologies. Omni Partners expanded internationally with its first hire outside the UK, bringing on Roald Hunvik as partner in Oslo. Meanwhile, Arsenal named Bradley Brown as investment partner to focus on industrial technology strategies and investments.

Technology Sector Focus

Artificial intelligence remained a dominant theme across private equity portfolios and investment decisions. Triomics raised $22 million in Series B funding led by Battery Ventures to bring oncology-specific AI tools to cancer centers, while database provider Click House tripled annualized revenue to $250 million as it charts a path toward an eventual IPO. Capchase, which positions itself as the "Affirm for B2B," secured $26 million in equity and a $174 million credit facility to support its financing platform for businesses. In enterprise software, Vista Equity-backed Poppulo acquired employee communication platform Sociabble, and Main Capital-backed Xait acquired Germany's SAE to expand its CPQ and variant management offerings.

Strategic Exits & Partnerships

Major exits continued as CVC Capital Partners sold its entire 13.8% stake in Spanish energy group Naturgy in a placement worth approximately €4 billion at current market prices, ending an eight-year holding period. CVC Credit reinforced its position in nuclear medicine specialist Curium through a new debt and equity package supporting business refinancing. Cross-border partnerships emerged with KKR and Capital Group preparing to extend their hybrid credit franchise into Asia later this year, marking the partnership's first move outside the United States. EQT is set to become the majority owner of a combined U.S. electric-vehicle charging business formed through the merger of its portfolio company Voltera with Revel Transit, with BlackRock's GIP retaining a stake.

Impact Investing & ESG Focus

Impact-focused strategies gained traction among institutional investors seeking measurable outcomes. APG, the €615 billion Dutch pension giant, broadened its impact focus as it works with general partners to hit a €10 billion impact private equity target, according to senior responsible investment specialist Matteo Millone. At the NPM Summit, panelists noted that impact-focused limited partners may use confidential vehicles to lock in the impact mission of companies, creating additional diligence requirements. Straylight Capital invested in loyalty rewards provider Patron Points alongside Scaleworks, while Bregal Sagemount backed health tech firm LSPedia to support product innovation and global expansion.

Healthcare & Special Situations

Healthcare investing remained active across multiple sub-sectors. Lovell Minnick-backed Xactus acquired an unnamed target to operate as Xeda Link, an independent subsidiary, while Shore Capital-backed Ondex Automation acquired electrical engineering firm The Fitch Company. Permira agreed to an A$3.4 billion exit from I-MED Radiology, and Bowmark planned to sell Helio Intelligence to ECI Partners. In wealth management, Houlihan Lokey's James Anderson highlighted that the sector remains robust despite uncertainties, citing strong client retention and stable pricing dynamics. Staple Street-backed Ivy Technology acquired ISP Tek Services to expand its technology lifecycle services offerings.

Market Commentary & Outlook

Industry participants debated the evolving landscape for private equity value creation strategies. According to KPMG's Paul Pan and Cinven's Sam Williams, building resilience and driving long-term growth requires evolving portfolio approaches amid macroeconomic volatility. Carlyle's Ian Fujiyama identified attractive opportunities in ADG services, noting that governments are increasingly focused on cyber capabilities, AI-enabled technologies, software, and autonomy. However, Crunchbase News reported that the IPO threshold has steadily risen, leaving many mid-sized firms without viable exit opportunities. In venture capital, seed deals have grown larger than ever with some startups raising $8 million to $10 million rounds once associated with later stages, though the path to Series A has become more challenging according to industry data.