Private Equity 8 Hours

Last updated: May 12, 2026, 11:30 AM ET

Deal Activity & Market Trends

The private equity sector witnessed a continuation of the trend seen in the first quarter, where deal volume contracted while the aggregate value of completed transactions rose, suggesting larger, more transformative acquisitions are replacing smaller bolt-ons . This environment of fewer but bigger deals contrasts with some pockets of the market, such as secondaries, where uncertainty has dented volumes, leading some industry observers to urge caution regarding evergreen marketing strategies . Amid this backdrop, software investors like PSG are targeting a €3.4bn final close for their third European vehicle in the first half, signaling continued capital deployment appetite for specific sectors .

Sector-Specific Acquisitions & Exits

Activity across target sectors remained varied, with Apollo snapping up Noble Environmental, a provider servicing solid waste collection and disposal for municipalities and commercial clients . In healthcare, a portfolio company of Chartis, HealthScape Advisors acquired independent pharmacy Payer Ally, expanding its footprint in payer advisory services , while Lorient provided growth capital to health platform PeterMD to accelerate its national expansion . Furthermore, Gen Nx360 successfully exited Precision Aviation Group to VSE for a reported sum exceeding $2bn, marking a substantial realization for the firm .

Middle Market & Buy-and-Build Strategies

The middle market continued its aggressive buy-and-build approach, with Branford Castle-backed Lafayette acquiring Sutter Instrument, a manufacturer of scientific instrumentation for life sciences and human evaluation markets . Similarly, the event services sector saw consolidation as Dynamic Core-backed Party Reflections purchased Creative Solutions Special Events, bolstering its presence in event rentals . In the government technology space, TA Associates backed Govineer Solutions, resulting in a full exit for Peterson Partners while management retained a significant holding .

Investment Firm Strategy & Talent Moves

Major firms continued to bolster senior ranks to manage capital formation and platform build-outs. Bridge Growth Partners tapped Ragunath Ramanathan, formerly president of Thomson Reuters’ legal business, and Workday CFO Zane Rowe as an executive partner and senior advisor, respectively . Concurrently, Shore Capital appointed Aurelio Banda as an executive operating partner to spearhead its strategy for building out an industrial automation distributor platform . On the investor relations side, Mako recruited Vanessa Gabela to serve as partner and head of IR, overseeing capital formation efforts .

Technology & European Focus

While global deal volume softened, specialized technology investments persisted, including a major capital raise for Deep Mind spinout Isomorphic Labs, which secured $2.1bn in funding . In Europe, the pending acquisition of Intertek by EQT, reportedly a final bid, suggests large-scale privatization efforts continue, following positive indications from draft European merger guidelines for PE deals . Verdane also moved to acquire a stake in Telenor Connexion, the IoT unit of the multinational telecommunications company . However, specialized technology segments face headwinds; Harbour Vest noted that closing software secondaries is becoming more challenging as AI innovation threatens to obsolete certain businesses .