Buyer landscape
Likely buyers · Education in Belgium.
Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers, including 8 geographic expansion candidates without a local platform yet. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.
Financial buyers · 25
Tier 1 · Very High · score 70+
1. EQT SponsorVery High81
37 platform investments in Business Services · 5 in Belgium · 51 deals 2024–26
AUM €291.0B · EQT X · 2023 vintage · deploying · check €440M-3.3B
53 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.
Backed Nord Anglia Education, 2025 · Education, Hong Kong
2. PAI Partners SponsorVery High81
27 platform investments in Business Services · 5 in Belgium · 26 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Arlettie, 2026 · Business Services, France
3. Waterland Private Equity SponsorVery High79
41 platform investments in Business Services · 36 in Belgium · 39 deals 2024–26
Waterland Private Equity Fund IX (WPEF IX) · 2023 vintage · deploying · check €70-525M
48 platform investments since the 2023 vintage · largely deployed vs its usual 19 per fund.
Backed Partou, 2019 · Education, Netherlands
4. MML Capital SponsorVery High79
20 platform investments in Business Services · 2 in Belgium · 16 deals 2024–26
AUM €2.0B · MML Dorchester SCSp · 2025 vintage · deploying · check €13-95M
8 platform investments since the 2025 vintage · largely deployed vs its usual 7 per fund.
Backed Coptersafety, 2026 · Education, Finland
5. MML Capital + Bpifrance SponsorVery High79
21 platform investments in Business Services · 2 in Belgium · 15 deals 2024–26
AUM €2.0B · MML Dorchester SCSp · 2025 vintage · deploying · check €13-95M
8 platform investments since the 2025 vintage · largely deployed vs its usual 7 per fund.
Backed Coptersafety, 2026 · Education, Finland
6. MML Capital Partners SponsorVery High79
20 platform investments in Business Services · 2 in Belgium · 15 deals 2024–26
AUM €2.0B · MML Dorchester SCSp · 2025 vintage · deploying · check €13-95M
8 platform investments since the 2025 vintage · largely deployed vs its usual 7 per fund.
Backed Coptersafety, 2026 · Education, Finland
7. PAI Partners (Fund VIII) SponsorVery High78
24 platform investments in Business Services · 4 in Belgium · 17 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Arlettie, 2026 · Business Services, France
8. PAI Partners (Mid-Market Fund) SponsorVery High78
25 platform investments in Business Services · 4 in Belgium · 16 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Arlettie, 2026 · Business Services, France
9. PAI Partners (Mid-Market) SponsorVery High78
24 platform investments in Business Services · 4 in Belgium · 16 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Arlettie, 2026 · Business Services, France
10. PAI Partners / ADIA SponsorVery High78
24 platform investments in Business Services · 4 in Belgium · 17 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Arlettie, 2026 · Business Services, France
11. PAI Partners and Ontario Teachers' Pension Plan SponsorVery High78
24 platform investments in Business Services · 4 in Belgium · 16 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Arlettie, 2026 · Business Services, France
12. IK Partners SponsorVery High77
50 platform investments in Business Services · 8 in Belgium · 52 deals 2024–26
AUM €13.8B · IK Partnership Fund III · 2025 vintage · deploying · check €10-75M
18 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.
Bought Skill & You from Andera Partners, 2021 · Education, France
13. Inspirit Capital SponsorVery High77
9 platform investments in Business Services · 7 deals 2024–26
Inspirit Fund II · 2023 vintage · deploying · check €2-13M
12 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.
Backed Kaplan Languages Group, 2026 · Education, UK
14. IK Partners (IK Small Cap III) SponsorVery High76
46 platform investments in Business Services · 8 in Belgium · 39 deals 2024–26
AUM €13.8B · IK Partnership Fund III · 2025 vintage · deploying · check €10-75M
18 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.
Backed Skill & You, 2021 · Education, France
15. IK Partners / GIC / Keensight / Parquest / management SponsorVery High76
46 platform investments in Business Services · 8 in Belgium · 38 deals 2024–26
AUM €13.8B · IK Partnership Fund III · 2025 vintage · deploying · check €10-75M
18 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.
Backed Skill & You, 2021 · Education, France
16. Apheon TMC HDC Long Term Value Fund SCSp (HarbourVest + MML Capital-backed continuation fund) SponsorVery High76
4 platform investments in Business Services · 14 in Belgium · 12 deals 2024–26
AUM €4.5B · AMB VI · 2025 vintage · deploying · check €25-188M
7 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.
Bought TMC from Apheon, 2024 · Business Services, Netherlands
17. Beech Tree Private Equity SponsorVery High76
7 platform investments in Business Services · 6 deals 2024–26
Beech Tree Private Equity Partners IV · 2023 vintage · deploying · check €4-31M
9 platform investments since the 2023 vintage · largely deployed vs its usual 6 per fund.
Bought Inspiro from Inspirit Capital, 2025 · Education, UK
18. Triton Partners SponsorVery High75
35 platform investments in Business Services · 10 deals 2024–26
AUM €18.5B · Triton Fund VI · 2026 vintage · deploying · check €110-825M
3 platform investments since the 2026 vintage · early in deployment vs its usual 11 per fund.
Backed formicon, 2026 · Business Services, Germany
19. Permira SponsorVery High75
19 platform investments in Business Services · 17 deals 2024–26
AUM €80.0B · Permira VIII · 2023 vintage · deploying · check €334M-2.5B
17 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.
Backed Universidad Europea, 2019 · Education, Spain
20. Inflexion SponsorVery High75
20 platform investments in Business Services · 1 in Belgium · 27 deals 2024–26
AUM €11.0B · Inflexion Buyout Fund VII · 2026 vintage · deploying · check €90-675M
4 platform investments since the 2026 vintage · mid-deployment vs its usual 6 per fund.
Backed Ranger Fire & Security, 2026 · Business Services, UK
21. Inflexion (Partnership Capital III) SponsorVery High75
18 platform investments in Business Services · 1 in Belgium · 25 deals 2024–26
AUM €11.0B · Inflexion Buyout Fund VII · 2026 vintage · deploying · check €90-675M
Accelerating: 15 deals in the last 2 years vs 5.0/yr before.
Backed Ranger Fire & Security, 2026 · Business Services, UK
22. YFM Equity Partners SponsorVery High75
15 platform investments in Business Services · 23 deals 2024–26
AUM €878M · YFM Buyout Fund III · 2023 vintage · deploying · check €2-17M
32 platform investments since the 2023 vintage · largely deployed vs its usual 20 per fund.
Backed inploi, 2026 · HR Tech, UK
23. Charterhouse Capital Partners SponsorVery High75
23 platform investments in Business Services · 1 in Belgium · 10 deals 2024–26
AUM €7.0B · Charterhouse Capital Partners XI · 2023 vintage · deploying · check €28-210M
10 platform investments since the 2023 vintage · mid-deployment vs its usual 14 per fund.
Backed Metrodora, 2024 · Education, Spain
24. Axcel SponsorVery High75
13 platform investments in Business Services · 14 deals 2024–26
Axcel VII · 2023 vintage · deploying · check €26-194M
15 platform investments since the 2023 vintage · largely deployed vs its usual 9 per fund.
Bought Geomatikk Group from Hg, 2026 · Business Services, Norway
25. NORD Holding SponsorVery High75
7 platform investments in Business Services · 15 deals 2024–26
AUM €5.0B · NORD Holding all inclusive Fitness Continuation Fund · 2026 vintage · deploying
Accelerating: 13 deals in the last 2 years vs 2.5/yr before.
Backed IBB Institut fuer Berufliche Bildung AG, 2026 · Business Services, Germany
Scores and facts derive from verified deal records only; sample floors and thresholds are published on the methodology page. Figures marked with a tilde are bands, not disclosures.