The private equity market continues to evolve in an environment shaped by interest rate normalization, increased investment selectivity, and a growing focus on sustainable long-term performance.

After two years dominated by rising interest rates and reduced liquidity, 2026 marks a regime shift in private markets. While the euphoria of 2021 is not returning, the market is entering a healthier cycle characterized by greater price discipline, a gradual reopening of exit windows, and a quality premium focusing on resilient assets capable of generating cash flow and managers with strong operational capabilities.