Private Equity 24-Hour Briefing
×Last updated: March 17, 2026, 5:30 PM ET
Dealmaking & Portfolio Activity
The exit environment remains severely constrained, with reports indicating that even assets acquired during less frothy periods are proving difficult to divest, posing a persistent challenge for firms seeking liquidity. This sluggish secondary market coincides with ongoing portfolio adjustments by institutional investors; for instance, the $74.9bn Nevada PERS plans to reduce its exposure to Clearlake Capital following concerns over potential conflicts of interest related to Clearlake’s proposed acquisition of Pathway Capital Management. Separately, institutional capital is actively deploying in niche sectors, evidenced by EIG-backed MidOcean Energy securing a $500 million investment from Idemitsu Kosan to scale its liquefied natural gas platform, signaling continued appetite for energy transition assets.
In platform building and expansion, TPG inaugurated a new industrial software firm named Velotic, appointing former PTC CEO James Heppelmann as executive chairman and Brian Shepherd as CEO, while simultaneously launching One Aged Care in Singapore and Malaysia to address growing elderly healthcare demand. Consolidation within specialized services continues, with Audax Private Equity acquiring property management firm Akam from Nautic Partners, and Fort Point-backed VisuSewer bolstering its wastewater infrastructure services by purchasing United Survey in Wisconsin. Furthermore, Sagard extended its industrial footprint as its portfolio company Norbec acquired Canadian Curtis, a designer of prefabricated cold rooms.
Mid-market activity saw several strategic bolt-ons across diverse industries, including Knox Lane-backed Ruppert Landscape adding Landscapes Unlimited to its commercial landscaping platform, and Hildred seeing its Sports Med unit acquire The Physical Therapy and Rehabilitation Center across New Jersey and Connecticut. In manufacturing, LFM integrated manufacturer Power Built into its American Automation Group platform, while New Heritage portfolio company Icelandirect purchased supplement manufacturer Soma Labs. Private credit and specialized asset financing also saw action, with NewMile and Haywood Lane backing Wilkerson Crane Rental to finance fleet expansion and strategic acquisitions.
Exit Strategies & Large Transactions
Major European buyout firms are exploring a significant exit in the elevator sector, as Advent and Cinven are reportedly considering options for their stake in TK Elevator, with Kone entering takeover discussions that could value the transaction around €25 billion. Meanwhile, Warburg Pincus is examining potential avenues for divesting subprime auto lender Exeter Finance, with deal options reportedly valuing the business near $3 billion. In the technology space, Seaport Global successfully exited its holding in tech company Exacom to Motorola Solutions, marking a clean exit in the software segment.
Awards recognized recent successful divestitures, with Accel-KKR winning the Large-Cap Europe Deal of the Year Award for its exit from Smart Communications, a London-headquartered customer communications software vendor. On the mid-cap front, Kinderhook Industries secured the Mid-Cap North America Deal of the Year recognition, while HIG Capital is reportedly testing the market for its industrial services provider JT Thorpe, leveraging its scaled platform appeal to large-cap buyers.
Fundraising & Geographic Shifts
In Asia, capital flows are shifting geographically, with Middle East private equity professionals observing that funds previously designated for US or European investments may now be redirected toward regional opportunities as Gulf investors adopt a more localized focus. This regional focus is mirrored by the formation of TPG’s One Aged Care platform targeting Singapore and Malaysia, indicating a commitment to demographic trends in Southeast Asia. Furthermore, several firms are attempting to raise capital, including Candex, which extended its Series C funding round to over $40 million to support enterprises managing irregular global vendor payments.
Investment Themes & Governance
The technology investment sphere is grappling with governance and wealth distribution issues, as AI investor Rana el Kaliouby warned that excluding women from funding and leadership roles in artificial intelligence could severely widen the existing wealth gap. In the venture space, European fintechs face mounting challenges regarding sovereignty concerns in their regulatory and operational environments, even as specialized funds emerge to back new growth engines; for example, Upvest secured $125 million backing from major players like Tencent and Sapphire Ventures. In the Netherlands, investor activity remains concentrated, with reports detailing the most active firms, while elsewhere, scaleup executives are pooling resources to launch new vehicles aimed at identifying European decacorns. Institutional governance remains under scrutiny, with Maine’s pension fund planning its second reduction in its private equity target allocation in four years, potentially utilizing secondaries sales to manage its portfolio composition.