Private Equity 8 Hours

Last updated: April 9, 2026, 2:30 PM ET

Fundraising & Exits Signal Market Activity

Private equity fundraising saw a positive trend in the first quarter, with nearly half of closed funds meeting their targets, marking the highest proportion in at least five years, according to PEI data. This momentum contrasts with the cautious sentiment observed in secondary markets, where AI-driven tech disruptions are causing investors to question the sustainability of recent pricing recoveries. Meanwhile, Court Square Capital Partners successfully closed its fifth flagship fund at $3.8 billion, significantly exceeding its goal, illustrating pockets of investor confidence despite overall market scrutiny.

Mega-Deals and Strategic Exits in Focus

Activity across large-cap deals remains high, with CVC Capital Partners reportedly seeking co-investors to support its proposed $12.7 billion takeover of Italian drugmaker Recordati as part of a broader mega LBO push. In Asia, TPG is evaluating strategic options for its Asia One Healthcare unit, potentially pursuing a sale or IPO valued up to $7.5 billion, having appointed Malayan Banking and UBS to advise. Separately, Onex Partners completed a substantial $1.6 billion multi-asset continuation fund involving holdings such as Fidelity Building Services Group and Power School, with key backing from Neuberger, GIC, and Apollo S3.

Sector-Specific Investments and Acquisitions

Firms are targeting specific sectors, notably in infrastructure and healthcare, while also deploying capital into technology and industrials. Ara Partners committed up to $500 million to waste management firm Sedron to expand its North American manufacturing and deployment capabilities. In the infrastructure space, EQT agreed to divest its stake in Nordic Ferry Infrastructure to a consortium comprising Rederiaktiebolaget Gotland, Interogo Infrastructure, and Lægernes Pension. Furthermore, GTCR finalized its acquisition of European generics pharmaceutical company Zentiva from Advent, underscoring continued M&A in the pharma vertical.

Real Estate, Aerospace, and Technology Transactions

In real assets, Ares Management agreed to acquire Whitestone REIT in an all-cash transaction valued at approximately $1.7 billion, signaling a major take-private in the real estate sector. Concurrently, Blackstone is partnering with Dubai Aerospace Enterprise to launch an aircraft leasing program aiming for roughly $1.6 billion annually, focusing on aviation assets. Technology buyouts include Charlesbank leading an investment in Bridgepointe Technologies, with existing backer Carlyle Alp Invest also participating in the round. Elsewhere, Mutares plans to build a $320 million automotive platform by executing dual carve-outs from Magna.

Secondary Markets and Firm Strategy

Discussions in the secondary market suggest that while AI is driving certain valuations, some evergreen funds may be experiencing short-term performance boosts due to secondary mark-ups, according to JPMorgan Asset Management. Infrastructure secondaries buyers are actively seeking scarce opportunities that are difficult to access in primary markets, panelists noted at the Infrastructure Investor Global Summit. In terms of firm expansion, LGT continues its US build-out through a fund of funds acquisition, while APAC regions are anticipated to benefit from LP diversification drives. Separately, TowerBrook-backed EisnerAmper is set to merge with KLB Business Valuations & Forensic Accountants, expected to close in May 2026.