Last updated: March 19, 2026, 10:30 AM ET
Dealmaking Activity & Exits
Private equity firms are reportedly seeking exits from core infrastructure assets, with Audax and Keystone reportedly initiating processes for their respective heating, ventilation, and air conditioning (HVAC) portfolio companies, even as general partners contend with longer hold periods across their portfolios. In contrast to traditional buyouts, some cultural asset transactions are closing swiftly, as demonstrated by Pophouse Entertainment acquiring majority ownership in the music interests of icon Tina Turner, a deal paralleled by their earlier reported snagging of her catalog. Meanwhile, consolidation continues in specialized sectors, exemplified by the merger completion of healthcare firms Paratek and Radius Health, a transaction advised by Sixth Street, which was supported by a $1.3 billion financing package.
Sector Investments & Growth Capital
Investment activity remains broad across sectors, with firms deploying capital to facilitate expansion or recapitalizations. ICG backed railway maintenance provider Comcreta to fuel its next expansion phase, supported by accelerating investment in Italy’s rail infrastructure, while Fort Point invested in environmental services firm Boston Green specifically to recapitalize the firm. In the technology space, Verdane and Bpifrance committed capital to telehealth company Medadom, which holds the distinction of being the first teleconsultation provider accredited by the French Ministry of Health. Further afield, the European Bank for Reconstruction and Development committed $40 million toward the Templeton Türkiye private equity fund, which is targeting a total raise of $300 million.
Secondaries Market & Firm Strategy Shifts
The secondaries market is adjusting its focus, with Houlihan Lokey observing technology moving down the list of favored continuation vehicle (CV) sectors as the market digests recent tech disruption. This shift in LP appetite is prompting GPs to explore other areas for liquidity solutions; for instance, MCH completed a single-asset CV to maintain backing for premium frozen baked goods company Europastry, a deal that followed JC Flowers winning a European deal award. On the operational side, HighVista Strategies appointed Raudel Yanez as managing director and head of private equity secondaries, tasked with launching a new investment strategy focused specifically on GP-led secondaries in the lower middle market.
Internal Movements & ESG Focus
Personnel movements within firms signal strategic priorities, as seen by American Pacific promoting Rahul Mohan to managing director after he joined the firm in 2020. Separately, sustainability and climate objectives are guiding investment deployment, with BNP Paribas Asset Management Alts backing FarmCarbon to scale methane reduction technologies within the agricultural sector. Within portfolio company management, the need to measure business outputs from AI pilots, rather than just discussing them, is being emphasized by industry practitioners as the key to achieving tangible improvements. Furthermore, LPs are navigating the complexities arising from industry consolidation, posing complications for limited partners invested across merging entities.