Last updated: March 19, 2026, 7:30 PM ET
Private Equity Exits & Deal Flow
CVC Capital Partners and Nordic Capital are reportedly exploring exit avenues for Cary Group that could yield an enterprise valuation exceeding €3 billion, signaling continued willingness among major sponsors to monetize large European assets. On the mid-market front, Ares Management is leading two separate European vehicles: one exceeding £400 million for nursery operator Kids Planet, and another raising €300 million to warehouse a frozen baked goods portfolio for MCH, illustrating activity across different fund sizes. Separately, Bindley Capital-backed Guardian Pharmacy Services finalized pricing on a novel 'synthetic secondary' offering, providing liquidity for the Atlanta-based long-term care provider.
Secondaries and Continuation Funds
The secondaries market saw QHP Capital successfully close a $1.1 billion continuation fund for its portfolio company, Azurity Pharmaceuticals, with Harbour Vest Partners taking the lead role alongside substantial participation from Pantheon Ventures, demonstrating strong LP appetite for high-quality assets held past their initial fund life. This activity contrasts somewhat with the disciplined selling approach observed among certain Limited Partners, where some sellers have deliberately brought assets to market over the past 15 months, distinguishing themselves from typical runoff sales. Despite market noise surrounding direct investing preferences, observers note that high-profile shifts away from direct allocations do not necessarily signal a reduced appetite among LPs for co-investing opportunities, suggesting a nuanced recalibration of strategy rather than wholesale retreat co-investing.
Venture Capital and Talent Migration
In the technology sector, social media platform Bluesky secured $100 million in Series B funding following a recent CEO transition, directing the capital toward scaling its team and further developing its core ATProto protocol. This investment comes as a broader talent concern grips the UK ecosystem, where a recent survey indicates that as many as one in five local founders plan to relocate abroad within the next year one in five, potentially shifting the center of gravity for high-growth ventures. Meanwhile, the UK and Ireland ecosystem is seeing startups prioritize rapid monetization, with the trend of 'Revenuemaxxing' becoming the defining strategy for the fastest-growing firms in the region.
GP Structuring and Tax
Looking toward internal firm management, General Partners are increasingly considering advanced estate planning techniques, such as gifting portions of carried interest early in the fund life, according to tax advisors. This strategy allows future appreciation on those gifted units to accrue outside the GP’s taxable estate, offering substantial tax mitigation and facilitating legacy planning for principals Anthony Venette.