5 PE Firms to Watch in 2026 and Beyond – Behavioral Health Business
Introduction
By Laura Lovett | August 12, 2026
This is an exclusive BHB+ article.
It’s been a turbulent year for behavioral health and investors seek certainty. While deals continue, a cautious approach prevails. Many investors await the impact of Medicaid cuts or payer strategies for autism services. Yet, several private equity firms are ready to enter the M&A market soon. Behavioral Health Business highlights five such investors poised to make waves in the behavioral health industry.
Latticework Capital Management
Latticework Capital Management stands out due to its investment in Beacon Behavioral Health Partners, one of the most active acquirers in the sector. Beacon operates over 70 locations, serving more than a million patients annually. They partner with psychiatrist-owned businesses, providing back-end support and offering clinicians an ownership stake for focusing solely on clinical care.
Latticework invested in 2020; the investment’s hold period nears its end. Reports suggest partners are preparing for a potential sale in 2026, which could be a significant deal. They previously sold Meadows Behavioral Health Care to Kohlberg & Company in 2016.
Webster Equity Partners
Webster Equity Partners, an experienced player in the behavioral health sector for over a decade, boasts investments in Discovery Behavioral Health and BayMark. However, these companies face challenges. Webster’s initial investment in Discovery Behavioral Health (then Center for Discovery) dates back to 2011, with a recapitalization in 2017 driving significant growth.
With operations exceeding 145 treatment centers at its peak, Webster’s track record demonstrates its commitment and understanding of the industry.