Last updated: March 21, 2026, 12:30 PM ET
Dealmaking & Portfolio Activity
KKR announced plans to divest its data center liquid cooling technology firm, Cool IT Systems, in a transaction valued at approximately $4.75 billion, with the closing anticipated in the third quarter of 2026, reflecting continued private equity appetite for specialized hardware supporting AI infrastructure. This strategic exit contrasts with broader trends showing a slowdown in large-scale financing, as the largest U.S. funding rounds this week featured smaller aggregate values, though AI and cybersecurity startups remained primary recipients of capital inflows. In the human capital management sector, LLR Partners-backed Viventium acquired Perks4Care, a platform focused on caregiver rewards, signaling continued consolidation within the post-acute care technology space to enhance service offerings.
Geographic Expansion & Strategy
TPG is actively rebuilding its dedicated private equity presence in Japan, a push that includes making its first dedicated secondaries hire in the region through its TPG New Quest platform, indicating a strategic focus on sourcing multi-asset opportunities locally. This expansion into the Japanese market by major global players underscores the enduring appeal of established Asian economies for Western buyout firms seeking differentiated deal flow outside of saturated U.S. and European markets, despite the general cooling observed in weekly venture capital figures last week.