Listen to the NextWave Private Equity podcast series, where EY speaks with industry leaders to discuss emerging opportunities and industry trends shaping the global private equity landscape. The views reflected in this podcast are the views of the author and do not necessarily reflect the views of the global EY organization or its member firms.
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Private equity firms remained active but selective in the first half of 2026 as market uncertainty continued to influence investment decisions. While technology-focused transactions declined year over year, non-technology sectors saw continued growth, highlighting a shift toward resilient assets. Exit activity remained steady, supported by trade sales and ongoing corporate demand. Looking ahead,…
Private equity started 2026 with strong momentum, but fresh market volatility shifted dynamics toward greater selectivity. Investors are now focusing on high-quality, well-structured deals, particularly in asset-heavy sectors like energy, utilities, infrastructure and select real estate, where cash flows are visible and inflation linked. AI-led disruption is reshaping software investment…
Private equity entered 2026 with renewed momentum following a strong rebound in 2025, marked by a 57% rise in deal value and a significant recovery in exits. Strategic buyers and secondaries helped unlock long‑delayed liquidity, while improved macro conditions and stabilized valuations strengthened underwriting confidence. With most GPs expecting increases in both acquisitions and exits over the…
In Q3 2025, private equity activity surged, achieving a record US$310b in deal value as firms capitalized on narrowing valuation gaps and renewed market confidence. With 156 deals announced, including six exceeding US$10b, the sector is pivoting towards larger transactions. Improved financing conditions and creative deal structures are facilitating this momentum. Looking ahead, 61% of firms…
In the first half of 2025, private equity exits reached their highest levels in three years. Corporate acquirers became active buyers, and firms showed increased flexibility on valuations to facilitate the sale of long-held assets. Despite ongoing market volatility, global M&A activity rose by 30%, with private equity contributing significantly. Although fundraising challenges exist, many…
In Q1 2025, private equity firms saw a 45% rise in deal volume compared to the previous year. However, rising trade tensions are creating caution among investors. Many firms may limit capital deployment in the coming months, yet a higher-than-average risk tolerance indicates readiness to seize new opportunities. Firms are focusing on operational improvements within their portfolios and exploring…
Matt Breitfelder, Partner, and Global Head of Human Capital at Apollo in conversation with Bridget Walsh, EY Global Head of Private Equity. In this episode Matt shares his insights about the role of talent and optimising personal performance in the asset management industry. The views of third parties set out in this podcast are not necessarily the views of the global EY organization or its member…
Angelo Rufino, Partner and Head of Special Situations in North America and Head of Corporate Special Situations in Europe for Bain Capital, joins Bridget Walsh, EY Global Head of Private Equity. In this episode Angelo shares his insights on the differentiated opportunities for Special Situations investing. 17 mins. The views of third parties set out in this podcast are not necessarily the views of…
Private equity enters 2025 with strong expectations amid favorable market conditions. In 2024, PE firms announced US$565b in deals, a 25% increase in value and 20% in volume from the previous year. Confidence is high, with 73% of GPs expecting increased deployment activity. Factors driving this optimism include narrowing valuation gaps, increased asset availability, and improved macro visibility.…
The private equity (PE) market is bouncing back, with deal activity picking up thanks to clearer economic indicators and better financing options. Despite this dealmaking boost, exits are slower, posing challenges for investors and firms. The tech sector stands out, attracting significant PE interest due to favorable financing conditions, signaling a trend of increased tech-focused deals ahead.…
In this episode on the NextWave Private Equity Podcast, Matt Brown Founder, CEO and Chairman of CAIS, joins Bridget Walsh to discuss how technology can unlock private wealth for private equity. Technology is revolutionizing the private wealth market, enabling independent advisors to access alternative investments and compete with larger firms. Founder, CEO and Chairman of CAIS, Matt Brown , shares…
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from Q2 2024 that are top of mind for Private Equity (PE) investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary. In this episode, Pete…
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from Q1 2024 that are top of mind for Private Equity (PE) investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary. In this episode, we…
In this episode of the NextWave Private Equity podcast, Avi Kalichstein, co-founder and CEO of Hunter Point Capital, joins host Bridget Walsh to discuss the growing market for GP stakes. The private equity landscape is shifting, with strategic capital becoming a vital piece of the puzzle. Hunter Point Capital's CEO, Avi Kalichstein, shares his insights on the nuances of GP stakes investing. Listen…
In this episode, Flor Kassai, Head of the Buyout Fund at Inflexion Private Equity Partners, a leading mid-market private equity fund, joins our host Bridget Walsh, EY Global Private Equity Leader, to discuss the evolving middle market landscape.
In this episode of the NextWave Private Equity podcast, Oi-Yee Choo, CEO of ADDX, joins host Bridget Walsh to discuss tokenization and democratization of private markets. Blockchain is reshaping private investing, and Oi-Yee Choo, CEO of ADDX, shares how on the EY NextWave Private Equity podcast. Listen to find out how this technology is making private markets more accessible and what it means for…
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from 4Q 2023 that are top of mind for Private Equity (PE) investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary. In this episode, we…
Software's been a powerful theme for PE investors for much of the last decade, representing between one-quarter and one-third of total PE deployment. David Humphrey, Partner in the Technology, Media & Telecommunications Vertical and Co-Head of Bain Capital's North American Private Equity business, discusses the philosophy into investing in the tech space.
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from 3Q 2023 that are top of mind for Private Equity (PE) investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary. In this episode, Pete…
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from 2Q 2023 that are top of mind for Private Equity (PE) investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary. In this episode, Pete…
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from 1Q 2023 that are top of mind for Private Equity (PE) investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary. In this episode, we…
In this episode of the NextWave Private Equity podcast, Bridget Walsh, EY Global Private Equity Leader, will be discussing the entrance of retail investors in the private equity market with Jenny Johnson, CEO of Franklin Templeton.
In this episode, Mark Benedetti, Co-Head of Ardian US, joins our host Bridget Walsh, EY Global Private Equity Leader, to discuss the growing role of secondaries in the private equity market.
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from 4Q 2022 that are top of mind for PE investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary. 2022 was an incredibly dynamic year…
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from 3Q 2022 that are top of mind for PE investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary. The PE sector continued to experience…
Greg Schooley, EY-Parthenon US Value Creation Leader, joins Winna Brown to discuss what tasks PE is outsourcing across business functions such as finance, IT, HR and customer service to create value. The path to successful value creation in private equity (PE) today goes beyond typical levers such as G&A cost-cutting, sales force effectiveness and strategic sourcing. It's about an approach that…
Pam Jackson, CEO of Level20, joins Winna Brown to reveal how mentorship programs can help women build long-term careers in PE. According to a report that EY teams recently published on diversity, equity and inclusiveness (DEI), the private equity industry's ability to meet stakeholder demands, access capital, win deals and compete for talent is increasingly contingent on progress against DEI…
In this episode, Laura Grattan, Managing Director at Crosspoint Capital, and Jeff Vogel, Head of the Software Strategy Group at EY-Parthenon, join Winna Brown to explore how PE firms can position themselves to win tech deals in today's highly competitive market. Contact Laura: lgrattan@crosspointcapital.com Contact Jeff: jeffrey.vogel@parthenon.ey.com According to the latest EY PE Pulse report,…
To the NextWave Private Equity audience: Since February of 2020, just before the covid-19 pandemic uprooted all of our lives, the EY global private equity team has turned to this podcast series to discuss the topics and insights that are top-of-mind for our audience of PE executives and practitioners. From the bottom of my heart, thank you! For listening, for giving us your time and for trusting…
Maha Eltobgy, Chief Sustainability Officer and Managing Director at Brightstar Capital Partners, joins Winna Brown to explore how operating executives can effectively communicate the value prop of ESG at the portco level. ESG is top of mind for PE executives right now. According to the 2022 EY Global Private Equity survey, ESG is one of the top four strategic priorities listed by PE firms. 42% of…
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from 2Q 2022 that are top of mind for PE investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary. PE firms will continue to remain…
Famke Krumbmüller, EY EMEIA Leader, Global Geostrategic Business Group, joins Winna Brown to discuss how shifts in geopolitical power will affect growth and investment opportunities. As a result of the war in Ukraine, three major power blocs are emerging, and it has become critical for companies to understand the allies of the markets in which they are invested. Developed markets are leading one…
Elizabeth Seeger, Managing Director of Sustainable Investing at KKR, joins Winna Brown to discuss why KKR views ESG as a business opportunity that both creates and protects value over time. ESG has skyrocketed to the top of many PE firms' list of strategic priorities in the past couple of years. PE firms that may have historically viewed ESG as a "nice to have" or a "check the box" exercise, are…
Karim Anani, EY Americas Financial Accounting and Advisory Services Transactions Leader, and Mark Schwartz, Head of IPO and SPAC Capital Markets Advisory, join Winna Brown to explore why SPACs remain highly relevant despite market volatility and regulatory headwinds. Contact Karim: karim.anani@ey.com Contact Mark: mark.schwartz1@ey.com In 2021, more than 40% of new public companies listed through…
[Episode originally published 12/16/2021] Tyler Brewster, Senior Director at EY-Parthenon, joins Winna Brown to reveal the drivers behind PE's increasing presence in pro sports and explore both the opportunities and risks for investors. Contact Tyler: tyler.brewster@parthenon.ey.com Private equity (PE) is now undeniably present in the world of professional sports. According to Pitchbook, over the…
Greg Daco, EY-Parthenon Chief Economist, joins Winna Brown to discuss how macroeconomic factors such as inflation, monetary policy and the labor shortage will impact PE investment decisions and theses. To discover more PE perspectives and insights, visit ey.com/privateequity . These seven gauges will indicate how much PE activity will take place in the coming year: The positioning of a company in…
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from 1Q 2022 that are top of mind for PE investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary and infographic. Five takeaways from 1Q…
Greg Schooley, EY-Parthenon US Value Creation Leader, joins Winna Brown to discuss what tasks PE is outsourcing across business functions such as finance, IT, HR and customer service to create value. The path to successful value creation in private equity (PE) today goes beyond typical levers such as G&A cost-cutting, sales force effectiveness and strategic sourcing. It's about an approach that…
Danny Warshay, Executive Director of the Nelson Center for Entrepreneurship at Brown University, explores how the "See, Solve, Scale" entrepreneurial process can help PE investors screen potential investments. Partnering with a private equity (PE) firm has become especially attractive for founders of lower and middle market companies that aim for transformational, sustainable growth. As active and…
Pam Jackson, CEO of Level20, joins Winna Brown to reveal how mentorship programs can help women build long-term careers in PE. According to a report that EY teams recently published on diversity, equity and inclusiveness (DEI), the private equity industry's ability to meet stakeholder demands, access capital, win deals and compete for talent is increasingly contingent on progress against DEI…
In this episode, Laura Grattan, Managing Director at Crosspoint Capital, and Jeff Vogel, Head of the Software Strategy Group at EY-Parthenon, join Winna Brown to explore how PE firms can position themselves to win tech deals in today's highly competitive market. Contact Laura: lgrattan@crosspointcapital.com Contact Jeff: jeffrey.vogel@parthenon.ey.com According to the latest EY PE Pulse report,…
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from 4Q 2021 that are top of mind for PE investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary and infographic. Five takeaways from 4Q…
In this episode, Nic Humphries, Senior Partner and Executive Chairman of Hg, joins Winna Brown to explore how Hg's philosophy of curiosity and experimentation has enabled it to become one of the most active technology investors in the world. Contact Nic: Hg@hgcapital.com As an early adopter of artificial intelligence (AI), machine learning and analytics, Hg has embraced an investment and…
In this episode, Tyler Brewster, Senior Director at EY-Parthenon, joins Winna Brown to reveal the drivers behind PE's increasing presence in pro sports and explore both the opportunities and risks for investors. Contact Tyler: tyler.brewster@parthenon.ey.com Private equity (PE) is now undeniably present in the world of professional sports. According to Pitchbook, over the past 18 months, PE firms…
Tricia Glynn, a Partner at Advent International, shares best practices from Advent's renowned DEI program and discusses how private equity (PE) firms can build an inclusive culture and incorporate diversity, equity and inclusion (DEI) into their value creation thesis. Tricia has been a PE investor for over 20 years and currently serves on boards such as Lululemon and Olaplex, and co-leads Advent's…
Entrepreneurs and companies seeking investment may find a family office (FO) a compelling alternative to private equity (PE). According to Preqin, family office deals currently represent 2.5% of total M&A deals, a small share but one that has been steadily increasing since the great financial crisis. The Economist estimates family offices manage assets worth an estimated US$4 trillion, with…
Pete Witte, EY Global Private Equity Lead Analyst, explores the key themes and market dynamics from 3Q 2021 that are top of mind for PE investors. PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends. Visit https://www.ey.com/pepulse to view this quarter's summary and infographic. Five takeaways from 3Q…
Hanne Thornam, EY Norway Head of Climate Change and Sustainability Services, joins Winna Brown to share why PE is in a unique position to lead our transition to a low-carbon, circular economy. Contact Hanne: hanne.thornam@no.ey.com As private equity (PE) firms focus on ESG, they must also pivot to a long-term, forward-thinking mindset. For an industry accustomed to using historical data to project…
Political risk is creating challenges and opportunities for global organizations, including private equity (PE) firms and investors who are increasingly exploring cross-border deals as valuations soar across the US and Europe. On a previous episode , we talked about why PE firms must embed a geostrategy so they are able to recognize unique opportunities and use that strategy to inform their…
Luke Pais, EY ASEAN Private Equity Leader, explores why Southeast Asia is a vibrant region for PE investors who adeptly navigate local dynamics. Contact Luke: luke.pais@sg.ey.com According to the Preqin Investor Survey conducted in November 2020, Southeast Asia is among the top three emerging markets ideal for private equity (PE) and venture capital (VC) investment in the next 12 months. The…
