Private Equity 24-Hour Briefing
×Last updated: March 18, 2026, 5:30 AM ET
Dealmaking Activity & Exits
Private equity firms are encountering stiff resistance when attempting to offload existing portfolio assets, as the clog in PE’s exit pipeline proves difficult to clear, even for assets acquired during less frothy market periods. This environment contrasts with active primary deal flow, where Advent and Cinven explore a potential €25 billion exit from elevator maker TK Elevator, potentially involving takeover talks with Kone. On the deal origination front, Warburg Pincus is exploring options for subprime auto lender Exeter Finance, aiming for a valuation around $3 billion. Furthermore, Accel-KKR secured an award for its Large-Cap Europe exit of customer communications software firm Smart Communications, while Seaport successfully exited tech company Exacom to Motorola Solutions.
Platform Builds & Sector Investments
Sponsors continue to aggregate niche service providers across infrastructure and specialized industrial sectors. TPG launched a new elderly healthcare platform named One Aged Care to capitalize on demand in Singapore and Malaysia, while simultaneously rolling out Velotic, a TPG-backed industrial software firm appointing former PTC CEO James Heppelmann as executive chairman. In infrastructure services, Fort Point-backed Visu Sewer acquired United Survey to bolster its wastewater infrastructure capabilities in the Midwest, and LFM’s automation platform, American Automation Group, scooped up manufacturer PowerBuilt. Elsewhere, Knox Lane-backed Ruppert Landscape picked up Landscapes Unlimited to expand its commercial landscaping footprint, and Hildred-backed Sports Med acquired a physical therapy center in the Northeast.
Geographic Expansion & Capital Flows
Asian capital is showing renewed focus on regional and Gulf opportunities, even as major institutional investors reassess commitments. A Singaporean buyout shop planted its first overseas flag in Hong Kong to bolster investment and investor relations capabilities, while Hong Kong’s Gaw Group eyes redirection of Gulf capital toward regional markets as Middle Eastern investors potentially retrench from traditional US and European allocations. This comes as institutional commitments face scrutiny; Nevada PERS plans to exit its Clearlake exposure due to perceived conflicts of interest arising from Clearlake’s Pathway Capital Management acquisition, and Maine’s pension fund is outlining a plan to cut its PE target, possibly involving secondary sales.
Defense, Fintech, and Thematic Focus
Geopolitical tensions are driving increased investor interest in European defense technology, with one industry observer noting the gap in air defence capabilities is impossible to ignore for European startups. In fintech, European firms face persistent sovereignty concerns, intensifying the difficulty in ignoring regulatory barriers. On the funding front, fintech Upvest secured backing from Tencent and Sapphire Ventures for a $125 million capital raise. Meanwhile, market leaders in the UK startup ecosystem continue to emerge, with wellbeing marketplace Healf topping Sifted’s latest leaderboard, while AI investor Rana el Kaliouby warned that the current dynamics risk widening the wealth gap if women are excluded from AI funding and leadership roles, suggesting the consequences of AI exclusion will be grim.
Mid-Market Transactions & Portfolio Optimization
Activity in the middle market continues across various verticals, often involving strategic add-on acquisitions and platform divestitures. HIG Capital is testing the market for industrial services firm JT Thorpe, whose business is tied to system outages, suggesting appeal for large-cap buyers. In the specialized manufacturing space, Sagard-backed Norbec acquired Canadian Curtis, a designer of freezer rooms, enhancing its cold chain component manufacturing capabilities. Separately, Audax snapped up property management firm Akam from Nautic Partners, and New Heritage-backed Icelandirect acquired supplement manufacturer Soma Labs. On the growth funding side, Candex, which assists enterprises in managing payments to global vendors, extended its Series C round to over $40 million.