Private Equity 3 Hours

Last updated: April 22, 2026, 11:30 AM ET

Mega-Deals and Fund Launches

European buyout activity heated up as EQT raised its offer for testing and certification firm Intertek to approximately £9.7bn, valuing the FTSE 100 company at $12.3bn in a move to secure the target. Parallel to large M&A, Adams Street Partners successfully concluded fundraising for its sixth co-investment vehicle, securing $2.5bn in committed capital for Co-Investment Fund VI, signaling continued LP appetite for specialized strategies closing fund VI. Further consolidation in the wealth management sector saw GTCR acquire Fiduciary Trust Company, with former Wilmington Trust chair Doris Meister slated to join as executive chair to guide the firm's strategy.

Sector Focus and Investor Strategy

Firms are demonstrating a specific focus across the consumer and financial sectors, with Forward’s Matt Leeds expressing interest in powerful consumer brands amid current dealmaking trends targeting consumer brands. Separately, First Eagle completed the take-private buyout of Diamond Hill Investment Group, offering shareholders $175.00 per share in cash, marking a clean exit for the publicly traded asset manager. Meanwhile, in manufacturing, LFM invested in L&R Industries, a firm specializing in tube products and providing extensive metal fabrication and electrical services, reflecting PE interest in diversified industrial capabilities investing in fabrication.

LP Challenges and Access Innovation

Limited Partners are navigating complexities in fund allocations, with some facing involuntary sales due to the extended timelines associated with election periods in side letters, forcing them into the secondary market LPs become forced sellers. To counter traditional accessibility hurdles, Temasek’s Azalea is actively promoting its use of an evergreen fund structure betting on evergreen structure, aiming to democratize access to private equity investments for a broader pool of capital allocators.