Private Equity 8 Hours

Last updated: March 27, 2026, 2:30 PM ET

Private Equity Strategy & Deal Flow

The private equity sphere is shifting focus from structure to substance, moving away from an era defined by cheap debt and inflated multiples toward a more selective investment approach, a transition echoed by cost-cutting measures at firms like Speedinvest cutting 10% of its team following internal churn. This selectivity contrasts with a strong week for mega-growth rounds, evidenced by OpenAI disclosing a new $10 billion raise, alongside other substantial financings in the AI and defense technology sectors, suggesting capital deployment remains concentrated in high-growth technology niches. Meanwhile, industry shifts are apparent with firms like Astorg, Cinven, and Nordic Capital targeting pathology assets, as Kearney estimates a $1 trillion gap in women’s health is attracting dealmakers, including those firms pursuing pathology assets.

Exits and New Investments

Deal activity saw significant movement on the exit front, with Advent planning to sell its stake in hair care brand Olaplex to Henkel for $1.4 billion, which will result in the brand delisting from Nasdaq upon closing in 2026. Concurrently, HIG Capital is divesting its Brazilian internet service provider to Claro for an approximate valuation of $750 million. On the acquisition side, Advent is set to acquire engineering and consulting firm Atwell, expecting the transaction to finalize by the second quarter of 2026, while Bonaccord is making a minority investment in credit platform Prime Finance to bolster its balance sheet and institutional infrastructure. Separately, in the enterprise software space, SAP is acquiring Reltio, which was backed by NewView Capital, with closing anticipated in the second or third quarter of 2026.

Sector Trends & Market Support

The broader venture and technology ecosystem shows geographic divergence, as Austin’s startup scene hit an all-time high for venture funding, reinforcing the city’s status as a major technology hub. This growth is underpinned by the increasing focus on leveraging artificial intelligence, with discussions centered on how companies are scaling with AI to drive tangible impact rather than just hype. In response to evolving market needs, Evercore is expanding its Europe-based credit secondaries team, hiring four individuals, two of whom are joining from PJT, signaling increased institutional interest in secondary market credit instruments. Furthermore, geopolitical uncertainty, such as the Iran conflict, is being analyzed for its potential effect on specialized sectors, including whether it could boost Europe’s climate startups.