Private Equity 8 Hours

Last updated: March 31, 2026, 2:30 PM ET

Mega-Deals and Major Exits Mark PE Activity

The divestiture market saw significant action as Leonard Green prepared to sell Jetro Restaurant Depot to Sysco for a substantial $29.1 billion, an exit involving the operator of 166 warehouse stores serving over 725,000 independent restaurants. Separately, HGGC finalized its exit of Planet Fitness franchisee Grand Fitness Partners to Flynn Group, which also saw the full exit of previous majority owner Monogram Capital Partners. In a transaction focused on the healthcare services sector, CapVest completed its acquisition of Stada, following an agreement made in September 2025 with sellers Bain Capital and Cinven. Meanwhile, in the wealth management space, Carlyle agreed to acquire a majority stake in MAI Capital Management, valuing the platform at over $2.8 billion, a deal that was also confirmed by Carlyle moving to purchase the investment advisor.

Sector-Specific Investments and Strategic Acquisitions

Private equity firms continued deploying capital across specialized niches, with Oak Hill finalizing its takeover of internet service provider Hunter Communications, where Michael Wynschenk remains CEO. In the industrial and manufacturing realm, TA Associates backed iBase-t with a strategic growth investment intended to fuel product innovation and global expansion, specifically targeting the scaling of AI-driven manufacturing in aerospace and defense where TA has increased exposure. Add-on activity remained strong as Hyperion-backed Ranger Fire and Security acquired Total Fire Group to expand its footprint in the UK and Ireland's fire safety sector, while Investcorp-backed Resultant beefed up its M&A advisory services by acquiring Liberty Advisor Group, signaling an intent to execute one to two such deals annually. Other targeted buys included Mountaingate snapping up UpSwell Marketing, which services local consumer industries like automotive and dental, and Fortress acquiring bankruptcy services firm Omni Agent Solutions for technology development.

Growth Equity and Financing Milestones

Growth-stage companies secured massive funding rounds, with wearable fitness technology provider Whoop landing $575 million in a Series G round that propelled its valuation to $10.1 billion, drawing capital from institutional investors alongside athletes and celebrities. This trend toward high-value tech funding is mirrored in Europe, where credit data startup 9fin was crowned a unicorn following a $170 million capital raise, amid a broader movement where European fintech is increasingly becoming AI-native. On the financing side, private credit manager 17Capital closed a record fund, securing $7.5 billion for its Credit Fund, reflecting accelerating demand for Net Asset Value (NAV) related loans. Furthermore, Dawson closed its latest GP financing strategy, Dawson GP Finance, surpassing its $750 million hard-cap target to raise over $800 million.

Firm Management and Secondaries Market Shifts

Firms continued internal restructuring and organizational shifts to manage deal flow, as seen when Lime Rock promoted Jeffrey Scofield to president, while Dylan Blackford ascended to managing director. To enhance investment execution in the industrials sector, Angeles Equity Partners appointed Derek Rush as Vice President to focus on evaluating and managing transactions. In the secondaries market, the marketplace operator Palico is reducing fees to 5 basis points for sales exceeding $50 million in an effort to attract larger transactions from its LP-led platform. Additionally, mid-market managers are increasingly adopting multi-asset structures within Contractual Venture vehicles (CVs) to achieve necessary critical mass, according to Elm Capital analysis. Finally, Blackstone-backed infrastructure player Mundys is moving closer to a 30% stake in Getlink as part of its ongoing infrastructure expansion strategy.