293. Private equity 2026 outlook: Clearer view, tougher terrain

After a long period of uncertainty, the fog has lifted, and while private equity rebounded in 2025, the clearer visibility has also revealed a more complex and demanding landscape. In this episode, the authors of our 2026 Global Private Markets Report unpack the structural shifts reshaping the industry—from elevated multiples and longer hold periods to the growing importance of scale, specialization, and alternative capital. They also explore how artificial intelligence is emerging as a core driver of competitive advantage, with early adopters embedding AI into pricing, productivity, and portfolio strategy to create structural alpha. As private equity continues to mature, dispersion between leaders and laggards is set to widen. The question for dealmakers, operators, fundraisers, and LPs alike: who is equipped to best navigate this new terrain? Related insights  Global Private Markets Report 2026 Private equity: Clearer view, tougher terrainSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information