Private Equity 8 Hours

Last updated: June 9, 2026, 5:30 PM ET

Deal Activity & Exits Acquired Gateworks as Ezurio, backed by Audax, expanded its embedded‑compute portfolio, adding the Ohio‑based manufacturer’s line of rugged computers to a business already serving IoT customers. Just weeks later, sold Riverpoint Medical for $1.2bn, a price that reflects a premium for the firm’s minimally invasive cardiac devices and positions the seller to redeploy capital into higher‑growth health‑tech assets. Meanwhile, bought MHM gave Axiom GRC, backed by Inflexion, a foothold in the North American compliance market, where the assurance provider’s revenue of $45m last year is expected to double after integrating its SOC and ISO services. These moves illustrate how private equity continues to chase niche technology and healthcare assets despite a broader slowdown in deal volume.

Fundraising & Capital Allocation Pictet closed co‑investment fund at $1.53bn, topping its $1.2bn target and marking the largest raise in the series, a signal that limited partners remain eager for direct exposure to secondary and co‑investment opportunities. In parallel, Hunter Point gathered GP financing of $4.3bn, underscoring a trend where general partners tap dedicated capital lines to fund carry‑plus structures and meet growing demand for bespoke financing solutions. The twin inflows highlight that while headline‑level M&A may be muted, capital supply for niche private‑equity strategies stays robust.

Market Structure & “Zombie” Funds Zombie funds exceeded $1tn five years ahead of forecast, indicating that a fifth of global private‑equity assets now sit in vehicles held beyond the typical 7‑year horizon. Analysts link the buildup to prolonged fundraising cycles and limited exit options, which pressures internal rates of return and may force sponsors to recycle capital more aggressively. The phenomenon dovetails with private equity looking abroad, where firms pivot to cross‑border mandates as domestic corporate buyers retreat, seeking higher yields in emerging‑market platforms to offset the drag from aging fund structures.

Strategic Distress Investment Partners Group prepared $231m injection into debt‑laden Emeria, a move that reflects a broader appetite among European sponsors to provide mezzanine support to companies whose leverage outpaces earnings. The capital infusion, slated to convert to equity if covenant breaches occur, aims to stabilize Emeria’s cash flow while giving Partners Group a preferred position in any upside from a turnaround. This approach signals that opportunistic credit plays remain a core component of private‑equity portfolios amid tightening bank lending.

Talent Shifts & Governance Appointed Brian McKenna as Ridgepost’s VP of investor relations, effective June 15, adds seasoned fundraising expertise to a firm that closed a $650m fund earlier this year, bolstering its outreach as limited partners demand greater transparency. Across the Pacific, principal departed Coller after a decade covering secondaries in Asia, a departure that may prompt the Hong‑Kong‑based firm to reassess its regional coverage strategy at a time when secondary market activity is rebounding. These personnel moves underscore the importance of relationship capital in an environment where fundraising cycles are extending.

Corporate‑Buyer Divergence Noted corporate buyers staying domestic while private‑equity firms scout overseas, the report shows that domestic conglomerates are focusing on core operations amid supply‑chain uncertainties, whereas sponsors are leveraging higher‑growth targets in Southeast Asia and Latin America. This split is reshaping competitive dynamics, with private equity expected to capture a larger share of cross‑border M&A volume as corporates consolidate locally.