Private Equity 8 Hours

Last updated: April 21, 2026, 2:30 PM ET

Fundraising & Exits

Fundraising activity saw Harbour Vest Partners successfully close its thirteenth US flagship primary fund, Harbour Vest Fund XIII, securing $2.4 billion, which was above its initial target. Separately, Baird Capital closed its third Global Fund at the hard cap of $450 million, also surpassing its target, indicating sustained LP appetite for established private equity managers despite sector volatility. Meanwhile, Sycamore Partners is exploring a potential London stock market listing for Boots as early as 2027, which could represent a major exit valued at over $8 billion, contingent on market conditions for a public offering.

Sector Consolidation & Platform Builds

The pace of add-on acquisitions remained brisk across various sectors, with service providers particularly active. Century Park unveiled a new platform, Green Summit Landscape Group, immediately bolting on two Lansing, Michigan-based companies, R&D Landscape and Land Mark Landscape, signaling a strategy focused on geographic roll-ups in the landscaping vertical. In healthcare services, Aqua Dermatology, backed by PE, expanded its Southeast footprint by acquiring Steele Dermatology, headquartered in Palm Beach Gardens, Florida. Furthermore, the trend of PE firms targeting the roofing sector continued, as Huron Capital, Angeles Equity Partners, Sumeru, and Osceola Capital all showed interest in deals involving renovations and roll-ups in that space.

Strategic Investments Across Industrials & Services

Dealmaking spanned several industrial and specialty services niches as firms sought to build out specialized capabilities. HIG-backed Coriant acquired SCA, a provider of temporary containment and industrial support services relevant to the defense and infrastructure sectors, while Osceola Capital-backed Fortify Restoration purchased Beach Contracting to bolster its structural restoration services across the Southeast. In the Southeast again, PE-backed Thermal Concepts expanded its maintenance and repair portfolio by acquiring Hunter Mechanical, a firm specializing in commercial HVAC and food service equipment. Separately, Avem Partners scooped up manufacturer Precision Aircraft Machining Company, with capital support flowing from True West Capital Partners and various family offices.

Specialized Sector Activity and Minority Stakes

Focus within specialized areas saw both platform integration and strategic minority investments. Apollo is set to acquire a minority stake in McKesson’s medical-surgical solutions business for $1.25 billion, placing the division at a total valuation of $13 billion. In the asset management consulting space, Renovus-backed F2 Strategy snapped up investment consultant Meradia to enhance its digital transformation services for wealth managers. On the infrastructure side, Excelsior-backed Lydian Energy purchased the Bess Atlas North portfolio from Hanwha Renewables, reinforcing its focus on utility-scale power production. Furthermore, Accel-KKR provided backing to Staritas, a spin-out from the healthcare quality nonprofit ECRI.

Secondaries Market & Fintech Developments

Sentiment in the secondaries market remains positive, with friction points persisting, as firms continue to integrate these transactions into capital management strategies. Partners Capital, for instance, is actively encouraging its LP clients to participate in the growing secondaries market despite some historical return mechanisms proving less attractive recently. In the fintech arena, Revolut is reportedly targeting a $200 billion valuation ahead of a potential initial public offering, while Schematic raised $6.5 million in seed funding to simplify pricing and packaging for software and AI companies, addressing the complexities introduced by the AI era.