Private Equity 8 Hours

Last updated: March 25, 2026, 2:30 PM ET

Dealmaking & Fund Activity

Private equity firms continued to execute complex transactions, with Brookfield and La Caisse agreeing to take renewable energy producer Boralex private in a $9.7 billion deal intended to scale its growth in renewables. In the infrastructure space, Clearlake is moving to acquire power and electric services grid Qualus from New Mountain Capital, while Chimney Rock scooped up defense contractor United Electronics Company (UEC), reflecting an "insatiable" demand for maintaining radar systems. On the deployment front, Advent is preparing to invest up to $1 billion specifically targeting defense technology assets, signaling a focused capital allocation strategy.

Secondary Markets & Exits

The secondary market saw activity surrounding continuation funds and major exits, as TowerBrook finalized a vehicle for business consulting firm EisnerAmper, with Carlyle AlpInvest leading the transaction after Tower Brook spent over four years and "considerable money" improving the professional services business. In healthcare exits, an investor group including Astorg, Nordic Capital, Novo Holdings, and Cinven successfully sold clinical trial data firm Clario to Thermo Fisher for $8.9 billion. Furthermore, mid-market healthcare specialist QHP delivered a 10x return for selling limited partners via a second continuation vehicle for a top-performing asset.

Sector Trends: AI, Beauty & Industrials

Capital continues to flood high-growth technology, as legal tech startup Harvey achieved an $11 billion valuation following a $200 million round co-led by GIC and Sequoia Capital, who doubled down on AI-driven legal infrastructure. Similarly, AI notetaking startup Granola reached unicorn status after securing $125 million in its Series C round. In parallel, the beauty and wellness sector saw specialized investment, with Bansk Group acquiring wellness shots provider So Good So You, while Semcap launched a specialized arm for the sector in partnership with industry veteran Vasiliki Petrou’s Veralis Group.

Strategic Partnerships & Fund Launches

Firms are actively bringing in long-term capital partners to support portfolio companies, as Cinven agreed to sell a strategic minority stake in environmental science firm Envu to GIC, ensuring Cinven remains the majority owner while leveraging GIC’s long-term investment horizon. On the fundraising side, Pictet Alternative Advisors closed its inaugural direct private equity strategy at approximately €403 million (or $440 aimed at founder-led businesses. Separately, EIF announced the launch of a substantial €15 billion fund of funds intended to back roughly 100 growth-stage venture capital firms across Europe.

Credit Stress & Advisory Moves

Signs of pressure emerged in private credit, where Ares Management capped withdrawals from its $10.7 billion Strategic Income Fund in response to a redemption surge. In advisory talent acquisition, Jefferies bolstered its ranks by hiring senior General Partner-led transaction talent from Lazard, reflecting ongoing jockeying for competitive positioning in the secondaries advisory community. Meanwhile, Bow River intends to acquire VC firm Spur Capital, with the transaction slated for closing in the second quarter of 2026.