Private Equity 24 Hours

Last updated: March 23, 2026, 9:30 PM ET

Fundraising & Investor Activity

Lead Edge Capital is aggressively doubling down on software investments, securing $3.5 billion for its seventh fund despite market volatility, while Air Street Capital closed Europe's largest solo GP fund at $232 million, targeting early-stage AI companies across Europe and North America. In a move emphasizing liquidity needs, the University of California is shopping a significant $3 billion portion of its limited partner portfolio in the secondaries market, mirroring heightened LP interest in accessing capital as seen by Mercer's acquisition bolstering Altamar CAM’s secondary capabilities. Furthermore, the intersection of technology and finance saw leaders from rival prediction market platforms, Kalshi and Polymarket, jointly backing a new $35 million venture fund, 5(c) Capital, dedicated to supporting that burgeoning category.

Dealmaking Activity & Portfolio Exits

Private equity firms are navigating complex exits and strategic acquisitions across sectors, with Advent and Cinven reportedly exploring a potential €25 billion divestiture of TK Elevator, as Kone enters advanced talks to purchase the PE-owned entity. Elsewhere in transactions, Francisco Partners is selling music publisher Kobalt to Brookfield-backed Primary Wave, with CEO Laurent Hubert expected to remain in place, while Olympus Partners is set to realize significant value from its US-based eye-care provider, Eye South, by selling its retina business for $1.1 billion. In industrial and defense consolidation, Arlington Capital agreed to acquire Eptec Defence, a specialist in naval and defense preservation services, and in a minority stake deal, Apollo and CVC are jointly acquiring 37% of the €1.75 billion packaging machinery firm Syntegon.

Sector-Specific Investments & AI Focus

Investment activity remains concentrated in technology and infrastructure, evidenced by the fact that Gimlet Labs successfully raised an $80 million Series A round for its technology that alleviates the AI inference bottleneck by enabling simultaneous operation across diverse chip architectures including NVIDIA and AMD. Despite overall U.S. startup funding slowing sharply due to fewer massive AI megarounds closing in March, venture interest remains high, with companies like Gimlet Labs attracting capital for foundational infrastructure. Simultaneously, AI leaders are directly courting institutional capital, as OpenAI is offering private equity firms a guaranteed minimum return of 17.5% to secure investment into planned joint ventures.

Infrastructure & Energy Transactions

Infrastructure funds are aggressively pursuing large-scale energy assets in the Gulf region, where private equity is targeting a substantial $7 billion Kuwait pipeline deal, reflecting continued high interest in regional energy infrastructure transactions. In Southeast Asia, Actis finalized the acquisition of a 90% stake in Singaporean environmental management company 800 Super, deploying capital that brings the firm’s total Southeast Asia deployment to $1.7 billion. Furthermore, Ares Management committed at least €1 billion as part of a broader €1.5 billion capital increase for Plenitude, valuing the Eni unit at €13.1 billion.

Add-ons, Personnel Moves, and Secondary Market Dynamics

Deal selectivity and personnel appointments are shaping the current private equity environment, as Bridgepoint-backed PEI Group continues its bolt-on strategy by acquiring Scientific Infra & Private Assets, a benchmark provider for infrastructure and private equity markets. In the insurance sector, Aquiline-backed Relation expanded its footprint by snapping up Chinook Insurance Group, while Sovereign realized a successful exit from Knovia, which more than quadrupled its revenue under its ownership through organic growth and two acquisitions. On the personnel front, GTCR appointed Donnie Phillips as managing director and chief administrative officer in Chicago, while ECI brought in David Danon, formerly of Bain Capital, as a new partner after nearly two decades there.