A High Bar for Evergreen Valuations
Evergreen private equity funds are under increasing pressure to maintain rigorous, real‑time valuations. General partners’ internal marks now feed directly into faster net asset value (NAV) calculations, accelerating reporting cycles. These valuations are bound by heightened legal obligations, requiring strict methodology documentation. Distributors are also tightening oversight to ensure investor protection and regulatory compliance.
The 2026 Fastest-Growing Firms
Accounting Today’s 2026 Fastest‑Growing Firms list shows private‑equity‑backed firms dominate, with 23 of the 26 top performers receiving PE investment or platform support. Overall, 41% of the firms posted double‑digit growth, while 42 firms grew more than 20% year‑over‑year. Alan & James...
ArcLight Names Gary Lambert as Senior Advisor
ArcLight Capital Partners announced the appointment of Gary Lambert as a senior advisor. Lambert previously served as CEO of Competitive Power Ventures, where he led multiple renewable energy transactions. His addition brings deep expertise in power generation financing and M&A....
CVs Now Established as Exit Route Alongside M&A and IPO: Moelis’s Hammer
Moelis & Co managing director Jeff Hammer announced at NEXUS 2026 that continuation vehicles (CVs) have become an established exit route for private equity general partners, alongside traditional M&A and IPO pathways. He attributed this shift to the growing specialization...
Brookfield’s David Nowak: Operational Improvements at Portcos Key; CCMP Capital Seeks to Sell a Commercial Facilities Service Provider
David Nowak, president of Brookfield Asset Management’s private‑equity arm, said operational improvements in portfolio companies will separate winners from losers in the sector. He stressed that post‑deal value creation, rather than just deal sourcing, is the decisive factor. Meanwhile, CCMP...
What Your Brand Signals to Buyers Before You Ever Speak
Middle‑market companies often overlook how their brand story shapes early buyer perception. A clear, coherent market narrative—supported by logical brand architecture—helps investors, partners, and customers quickly grasp the business’s value and growth potential. When the story aligns with evidence, it...
Acceptance of CVs Means Time Is Right for PE Entrants: New Mountain’s Costello
At PEI Group’s NEXUS conference, Neal Costello, co‑head of New Mountain Atlas, said the firm’s willingness to accept a high volume of CVs indicates a favorable environment for new private‑equity talent. He explained that New Mountain plans to differentiate by...
Chart of the Week: Clearing the Backlog
The latest Dealogic and Bain & Company chart shows a noticeable uptick in corporate exit activity across the United States and Europe during 2025. This rise signals that the backlog of stalled mergers and acquisitions is finally being cleared. Higher...
Why Private Equity Matters (Part Eight)
The article argues that private‑equity investors should concentrate on the United States rather than diversify internationally. It highlights the US market’s unmatched depth, efficiency, and transparency, noting that U.S. buyouts account for over half of global deal activity. The piece...
Dutch Insurer Achmea Pension & Life Hires CIO with Private Credit Focus
Achmea Pension & Life, a Dutch insurer, has appointed a new chief investment officer with a private‑credit focus. The hire coincides with a joint venture between Achmea and US private‑markets manager Sixth Street aimed at expanding and diversifying the insurer’s...
AI in Private Credit: Where It Actually Moves the Needle
Artificial intelligence is gaining traction in private credit as a productivity tool rather than a decision‑making replacement. The technology excels at extracting and structuring data from loan agreements, amendments, and financial statements, cutting down manual document handling. Oxane Partners stresses...
China Rebounds to Become Asia’s Busiest Buyout Market – Deloitte
China has reclaimed its position as Asia’s busiest buyout market, according to Deloitte’s latest private‑equity report. A surge in domestic and regional fund activity offset a decline in Western capital, driving a 28% increase in deal volume year‑over‑year. The market...
Japanese Healthcare Pioneer Opens Sophomore Fund to Global LPs
Japanese healthcare private‑equity pioneer NPMI announced the launch of its second vehicle, NPMI Fund II. The fund is being pitched to global limited partners and could be up to six times larger than the inaugural fund, according to Private Equity...
Fiber Network Provider Fidium's Latest Master Trust Issuance Raises $664.6 Million
Fiber provider Fidium launched a $664.6 million asset‑backed securities program, issuing three tranches (A‑2, B, C) slated to close on March 31. The trust holds conduits, cables, equipment and contracts covering about 351,000 subscribers across eight states, with Maine, New Hampshire and Texas...
Charlotte-Based SouthCraft Home Builders Rebrands as SouthCraft by Empire Homes
SouthCraft Home Builders announced it will operate as SouthCraft by Empire Homes, reflecting its 2025 acquisition by Empire Homes. Matt Roesch, a veteran homebuilder, was named division president to steer the rebranded unit. The new brand leverages Empire’s scale and...
BNP Paribas: ‘Alternative” Evergreen Structures Attract Institutional Investors
BNP Paribas highlights the growing appeal of alternative evergreen structures, such as run‑off evergreens and rolling‑vintage umbrella funds, among institutional investors. These vehicles differ from traditional closed‑end drawdown funds by allowing continuous capital commitments and periodic vintage refreshes. The bank...
HGGC Leverages Strong Distributions for Oversubscribed Fund V
HGGC announced that its fifth fund, Fund V, was oversubscribed, driven by a strong track record of returning capital to investors. The firm highlighted that over the past two to three years it has distributed significant cash back to limited...
CCMP at Early-Stage Sale Process for Facilities Manager BGIS, Sources Say
Canadian facilities‑management firm BGIS has entered an early‑stage sale process led by private‑equity sponsor CCMP. Sources indicate the transaction could be priced at roughly 12 times EBITDA, valuing the business near $2.2 billion. The move reflects heightened interest in stable, cash‑generating...
BC Partners: Tariffs Are Number One Risk Factor for PE Industry
BC Partners' Europe chairman Nikos Stathopoulos says tariffs are the top risk for private equity. He adds that despite regulatory complexities, Europe currently serves as a safe‑haven for investors. The firm highlights that tariff volatility threatens deal pricing and exit...
Amadeus Emerges as Suitor for Idemia PS, Deal Would Create Airport Biometrics Behemoth
Amadeus IT SA is in advanced talks to acquire Idemia Public Security for an estimated €2‑3 billion, a move that would combine the airline‑tech group’s travel‑focused biometric suite with Idemia’s law‑enforcement and border‑control capabilities. Idemia PS brings core biometric algorithm IP...
Side Letter: Gulf Disruption
The Private Equity International (PEI) Awards 2025 honored firms that excelled in emerging markets, underscoring a shift toward Middle East opportunities. Global general partners (GPs) are now scrutinizing the Gulf’s evolving regulatory and economic landscape. Limited partners (LPs) report difficulty...
Alexa Boghosian
Alexa Boghosian has joined Lightspeed Venture Partners as a Partner in its Growth Private Equity group, focusing on majority stakes in software and tech‑enabled services platforms. She brings a particular interest in healthcare technology and AI‑enabled services, aiming to build...
Littlejohn Taps Shant Mardirossian as Managing Director and COO
Littlejohn & Co. announced Shant Mardirossian as its first managing director and chief operating officer. The newly created position will report directly to the firm’s managing partners and coordinate finance, legal, compliance, operations, and investor‑relations functions. Mardirossian’s mandate includes driving...
The Pipeline: Europe Drags on OMERS, Quinbrook’s New Australia MD, Norway SWF’s Supersized Renewable Returns
Europe’s infrastructure market underperformed this quarter, dragging down OMERS’ overall portfolio returns. The Canadian pension fund reported weaker earnings as its European assets lagged behind more resilient regions. Quinbrook Infrastructure Partners announced the appointment of a new Managing Director for...
Bain Capital Invests in Tingstad
Private equity firm Bain Capital announced it will acquire a majority stake in Tingstad, the Gothenburg‑based Swedish distributor of non‑food consumables. The deal, advised by Jefferies and others, keeps founder Paul Jigberg and the management team on board with a...
Global Eggs Gets Investment From PE Firm Warburg Pincus
Global Eggs announced a private‑equity investment of up to $1 bn from Warburg Pincus. The deal values the multinational egg producer at roughly $8 bn. The company, founded in 2018, now runs more than 50 farms across the United States, South America and...
Loan Note: Read Our Annual Review and Discover Award Outcomes; Moody’s Reflects on Blue Owl Liquidity Issues
The firm’s Annual Review has been published, showcasing the winners of its 2025 award program. In a separate commentary, Moody’s analysts highlighted liquidity issues rather than performance when evaluating Blue Owl’s credit profile. Bridgepoint announced an expansion of its investment...
Grupo Alacant to Snap up Irish Ice-Cream Peer Silver Pail
Spanish ice‑cream group Grupo Alacant, backed by private‑equity firm InvestIndustrial, announced it will acquire Ireland’s Silver Dairy Ventures (Silver Pail). The deal, terms undisclosed, is projected to generate roughly €300 million in annual revenue for the combined entity. Silver Pail, based in Fermoy...
Henry Costa Strengthens Team with Two Partners
Henry Costa Partners, a specialist merchant bank serving European financial institutions, announced two senior appointments. Jeanie Kim joins as partner and head of Advice & Principal Investments, while Katherine Rainwood becomes partner and group Chief Operating Officer. The hires broaden...
Sweden’s Skandia on What It Looks for in a Replacement GP
Sweden’s Skandia, through head of private equity Stefan Fällgren, outlined its criteria for selecting a replacement general partner (GP) in a brief video. The insurer emphasized that a GP must demonstrate a strategy capable of delivering outperformance over an extended...
UK Private Capital Calls for Scaleup Reinvestment Relief
UK Private Capital, representing private‑equity and venture‑capital firms, is urging the British government to introduce a Scaleup Reinvestment Relief (SRR). The proposal would create a capital‑gains‑tax reinvestment relief for gains that are ploughed back into qualifying UK‑headquartered scaleups, growth‑equity funds...
Metrics Credit Partners on Australia’s Real Estate Debt Pipeline
Metrics Credit Partners' Andrew Lockhart highlighted the robustness of Australia’s real estate debt market, noting that the pipeline remains strong despite recent macroeconomic pressures. He cited a pipeline of roughly AUD 15 billion in senior and mezzanine loans slated for issuance...
Park Square Capital: Credit Is No Longer About Exposure – It’s About Selection
Park Square Capital’s Robin Doumar warns that private‑debt markets have shifted from a focus on broad exposure to rigorous selection. As more capital chases a limited pool of borrowers, pricing pressure and credit quality concerns intensify. Doumar stresses that investors...
Brinley Partners on Discipline and Decision-Making in Private Credit
Credit managers who apply disciplined, thoughtful deployment strategies are poised to capture gains as private credit allocations continue to expand, according to Brinley Partners’ Kerry Dolan and Rex Chung. The firm highlights that rising institutional interest in private credit underscores...
Latham & Watkins: Private Credit Moves From Depth to Breadth
Private credit managers are widening their product menus and deal structures as borrowers demand more flexibility and creative financing, according to Latham & Watkins partners. The industry is moving from deep, niche lending toward a broader suite of solutions, including...
Oak Hill Advisors: 2026 Is a Strong Year for Distressed Opportunities
Oak Hill Advisors predicts 2026 will be a robust year for distressed‑credit investments, citing a surge in corporate debt maturities and lingering macro‑economic headwinds. Partners Joseph Goldschmid and Christopher Kenny say the firm is actively sourcing high‑yield, non‑investment‑grade opportunities as...
Kartesia Asset Finance on Why Private Credit Has only Scratched the Surface of ABF
Kartesia Asset Finance’s Fabrice Fraikin argues that private‑credit‑backed asset‑backed finance (ABF) is entering a rapid expansion phase in 2026. He highlights that while capital inflows are surging, the sector’s success hinges on meticulous underwriting and granular data analysis. Fraikin warns...
Polus Capital Management Invests in Arqiva
Polus Capital Management has purchased a 26.54 percent stake in Arqiva from Macquarie, becoming the company’s largest external shareholder. Polus, which manages roughly $14 billion in assets, highlighted Arqiva’s role in the UK’s national communications backbone and its stable, sustainable growth trajectory....
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InfraVia Capital Partners: All Hands on Deck for Maritime Services
InfraVia Capital Partners and LD Armateurs argue that specialised maritime services are increasingly attractive to investors. The sector’s capital intensity, long‑term contracted revenues, and built‑in inflation linkage provide stable cash flows. Downside protection mechanisms further improve risk‑adjusted returns. Executives Aymar...
Fengate: Moving Transport Into the Fast Lane
Fengate’s transport team, led by Darcy Wilson, argues that despite fierce competition for infrastructure assets, North America remains a fertile ground for long‑term investments. The firm points to a robust pipeline of highways, railways, and ports backed by supportive policy...
Pantheon on the Charm of Smaller CVs
Pantheon’s Amyn Hassanally and Charlotte Morris argue that continuation vehicles are increasingly appealing to sponsors targeting small and mid‑cap companies. As more investors explore this structure, the pool of opportunities in the lower‑mid market deepens. The firm highlights that smaller...
QIC: Taking a No-Compromise Approach to CV Underwriting
QIC partner Zach Jackson stresses that secondary buyers must fully underwrite both the sponsor and the underlying asset when assessing continuation vehicle (CV) opportunities. The firm adopts a no‑compromise stance, insisting on comprehensive due diligence rather than relying on surface...
StepStone on Why CVs Will Stay on the Menu
StepStone Group executives Adam Johnston and Ted Black argue that continuation vehicles (CVs) continue to be a preferred exit option for private equity firms. They cite CVs’ ability to consistently outperform the broader buyout market as the primary driver. Even...
UBS: Secondaries Deal Growth Points to Depth of Demand
UBS reports a surge in secondary market activity, with general partners and limited partners bringing larger trophy assets and full portfolios to market. Deal sizes and transaction volumes have expanded markedly, reflecting deepening investor appetite for secondary exposure. Thomas Roche...
Kirkland & Ellis on the Art of Continuation Vehicle Negotiation
Kirkland & Ellis partners observe that GP‑led continuation vehicles have become increasingly standardized within the secondary market. Yet negotiations still reveal tension as secondary buyers apply M&A‑style rigor while sellers favor more flexible terms. The firm highlights the growing importance...
TPG on the Rise of Sector Specialism in CVs
TPG GP Solutions co‑managing partners Matt Jones and Michael Woolhouse say firms with deep sector expertise and direct underwriting are reshaping the single‑asset continuation vehicle (CV) market. They argue that specialist managers can price assets more accurately and execute faster...
Bernhard Capital: Regulated Utilities Provide Rich Font for Mid-Market Carve-Outs
Bernhard Capital Partners’ Jeff Jenkins highlights that regulated utilities are becoming a fertile source for mid‑market carve‑outs as the sector seeks capital for grid upgrades. Stable, predictable cash flows and strong credit profiles make these assets attractive to private‑equity firms...
Permira on Why It Is Prioritising Specialisation and Performance
Permira’s co‑CEO Dipan Patel says the firm will double‑down on specialization and performance in the next private‑equity cycle. The firm plans to simplify its mission, focusing on a narrower set of sectors where it can add deep expertise. By tightening...
Wilmington Trust on What’s Powering the Future of the Energy Transition
Will Marder of Wilmington Trust examines how the past year reshaped capital flows toward the energy transition. He notes a marked acceleration in renewable and grid‑modernization investments, driven by policy support and heightened ESG focus. The firm anticipates continued diversification...
