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Volatility continues to define
the market for private equity
and principal investors in 2026.

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Macro uncertainty, shifting
rate expectations, and geopolitics
are making deals harder to execute.

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But not everyone has hit pause.

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We're seeing fewer deals,
but they're larger.

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And bigger, more diversified platforms have a clear advantage as exit pressures remain.

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In today’s market, resilience isn't just
about riding out this volatility.

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It's about continuing to build
the capabilities to deploy capital,

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create value, and reposition portfolios
while others pause.

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AI is a central element to that.

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It's redefined how private equity
sponsors assess every deal — from business models to margins to growth.

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Some sectors, like software,
may be disrupted.
Others offer more resilience

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and that's affecting what investors
are willing to buy – and
the price they're willing to pay.

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Private capital is investing heavily
in infrastructure, both in the AI space

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with energy and compute, and more broadly
across transport, energy, and social assets.

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Private equity firms are also
looking hard at themselves.

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They're partnering with
leading AI companies,

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and they're leveraging the data
from their broader portfolios,

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building their own capabilities to
gain a competitive edge in the market.

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The message is clear.
Volatility is widening the gap.

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The firms that build resilience
now will be best placed

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to lead the next phase
of private capital growth.