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Wednesday brought a $9 billion commercial real estate portfolio sale as one of the industry's largest players repositioned assets between its public and private platforms, while agentic AI secured strategic growth capital to scale enterprise deployments. Deal flow stayed active across healthcare tech, industrial services, and creative agencies, with platforms adding capabilities through tuck-ins and carve-outs.
A $600 million wealth management acquisition continued the steady consolidation in financial advisory services, GP-led secondaries kept moving as firms provided liquidity to select LPs, and digital marketing firms changed hands.
From wind farms in Texas to patient recruitment platforms merging globally, Wednesday’s activity showed private markets grinding forward across sectors despite macro uncertainty. Meanwhile, Washington renewed its legislative push against private equity with familiar rhetoric about industry practices.
Let's break it down.
Apollo Commercial Real Estate Finance
$9B Portfolio Sale to Athene
Apollo Commercial Real Estate Finance is selling its entire commercial real estate loan portfolio valued at about $9 billion to Athene Holding for a purchase price based on 99.7% of loan commitments. The transaction represents a significant portfolio repositioning as Apollo moves assets between its public REIT and insurance platforms, optimizing capital allocation across its ecosystem.
AllianceBernstein
Kore.ai Strategic Growth Investment
Kore.ai secured strategic growth investment led by AllianceBernstein Private Credit Investors, with continued participation from existing investors. The Orlando-based company has emerged as one of the leading providers of agentic AI solutions for enterprises, powered by what it calls the industry's most advanced AI-native platform.
Arroyo Investors and ONCEnergy
Texas Wind Farm Acquisition
Arroyo Investors and ONCEnergy announced the acquisition of a Texas wind farm, continuing the steady flow of capital into renewable energy infrastructure. The deal adds to the growing portfolio of wind assets being consolidated by private equity-backed platforms as the energy transition thesis plays out across the power sector.
WindRose Health Investors
SubjectWell-Clariness Merger
WindRose Health Investors announced the merger of Clariness and SubjectWell, creating one of the largest global, full-service patient recruitment platforms. The combination transforms clinical trial patient recruitment capabilities, bringing together complementary geographic footprints and service offerings to serve pharmaceutical and biotech clients worldwide.
Oxford Finance
Sokin $100M Growth Financing
Oxford Finance provided $100 million in growth financing to Sokin, a fintech company focused on cross-border payments and financial services. The debt facility will support Sokin's continued expansion and product development as it scales its platform serving businesses with international payment needs.
LSV Financial
GP-Led Transaction Close
LSV Advisors closed a strategic GP-led transaction for an investment fund managed by Tene Capital in Q4 2025. Tene Capital is a private equity firm managing approximately $1 billion across multiple investment vehicles, with active positions in high-growth industries focused on established growth and export-oriented companies with leading global market positions.
Bluespring Wealth Partners
$600M Coghill Investment Strategies Acquisition
Bluespring Wealth Partners announced its partnership with wealth management firm Coghill Investment Strategies, bringing approximately $600 million in assets under management into Bluespring's community of high-performing advisory firms.
The deal continues the steady consolidation in wealth management, where scale matters for technology investment, compliance infrastructure, and client service capabilities. Bluespring's model focuses on partnering with entrepreneurially minded, client-centric advisory firms while preserving their local market presence and relationships.
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AEA Elevate-829 Studios Investment - AEA Elevate made an investment in 829 Studios, an integrated, technology-enabled digital marketing firm. AEA Elevate acquired its position from CIVC Partners, alongside significant reinvestment from 829's founder, management team, and employees. The company's proprietary Apollo platform unifies strategy, execution, and analytics, enabling clients to navigate a rapidly evolving digital landscape.
Arcline sells Resolution Medical to Resonetics – Arcline Investment Management announced the sale of Resolution Medical to Resonetics, marking an exit for the private equity firm. Resolution Medical provides specialized medical device manufacturing and engineering services.
Gemspring Capital's Residence adds OK Cool – Gemspring Capital-backed Residence added social agency OK Cool to its global creative network, continuing the platform's expansion across creative services and marketing capabilities.
ARA Partners' Cycleo acquires Corte Pila plant – ARA Partners-backed Cycleo acquired the Corte Pila plant in Italy as part of €100 million Italian investment plans, expanding the company's European footprint in sustainable materials and recycling.
IronPath Capital's Pro-Set acquires Universal Chemicals – IronPath Capital-backed Pro-Set Formulated Resin Systems acquired Universal Chemicals and Coatings, Inc., expanding the platform's capabilities in formulated resin systems and specialty chemicals for industrial applications.
Marksman Titan acquires Priebe Security Services – Marksman Security Services acquired Priebe Security Services, Inc. The acquisition adds over 450 team members to the Marksman brand and expands their existing service area in Central Texas.
Sterling Group's Pavement Preservation acquires Holbrook and IPS – Pavement Preservation Group, a portfolio company of The Sterling Group, acquired Holbrook Asphalt, LLC and Integrated Pavement Solutions, LLC. Holbrook is a pavement preservation contractor serving customers across the Intermountain West, Southwest, and Southern United States. IPS manufactures and markets a differentiated suite of pavement preservation solutions, including HA5™ high-density mineral bond. The addition marks PPG's third acquisition since the platform was formed in partnership with Sterling in 2024.
TrueLink Capital and Kyocera close SouthernCarlson transaction – TrueLink Capital and Kyocera Corporation closed a transaction to establish SouthernCarlson as an independent business, carving out the operation from Kyocera's portfolio to create a standalone platform.
CVC's Global Sport Group acquires Equine Network – CVC entered into an agreement to acquire a controlling stake in Equine Network, the largest for-profit equestrian-based sports league in the US, from Growth Catalyst Partners. This investment will be the first new league investment into CVC's Global Sport Group, which will now hold stakes in eight unique leagues and competitions.
Grove Court Capital and NationalRad – Grove Court Capital's Premier Radiology Services announced the acquisition of NationalRad, a leading provider of subspecialty teleradiology services based in Deerfield Beach, Florida.
Gordon Brothers acquires LK Bennett – Gordon Brothers acquired the global LK Bennett brand and related intellectual property assets out of administration. The restructuring and investment firm, which owns Laura Ashley and Poundland, picked up the premium British fashion brand as it continues consolidating distressed retail assets.
Warren renews legislative push against private equity – United States Senators Elizabeth Warren and lawmakers renewed their legislative push to stop private equity looting with updated text of the Stop Wall Street Looting Act. The bill would close loopholes and end incentives for what Warren characterizes as private equity pillaging.
The updated text responds to private equity's involvement in now-bankrupt Steward Health Care, aiming to prevent a similar collapse from happening again. It's the latest iteration of familiar legislative efforts targeting the industry, though prospects for passage remain uncertain given divided government and industry opposition. The rhetoric hasn't changed much—private equity continues to be a convenient political target, while the industry argues these proposals would restrict capital formation and harm portfolio company growth.
Partners Group - Stephen Otter, Head Private Markets Royalties, was named to Billboard's Finance 50 List 2026, recognizing music's most influential investors, bankers, and advisers.
Flexpoint Ford - Mike Morris was named to Billboard's Finance 50 List 2026, the inaugural list recognizing music's most influential investors, bankers, and advisers.
StepStone Group - StepStone Director Melissa Chen will be a panelist at the upcoming Women's Private Equity Summit APAC in Capella, Singapore on Tuesday, February 3. Her session, LP-GP Relations to Attract Capital Successfully, will bring together LP and GP perspectives on today's fundraising environment.
Bertram Capital announced the promotions of Sean Houseworth, Aaron Kessler, Matt Jones, and Paul Koeniger to Managing Director.
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That's the wrap. More deals coming your way tomorrow.
- Private Markets Minute Team