2026 Private Equity and Venture Capital Outlook

Private equity fund managers are focused on value creation amid economic uncertainty.

The 2026 S&P Global Market Intelligence Private Equity and Venture Capital Outlook report reflects managers' lack of confidence that they can ride economic growth to a strong exit.

Instead, the general partners leading private equity and venture capital funds are prioritizing operational improvements that protect and build value at portfolio companies — value they aim to deliver to a limited partner base seeking increased distributions.

The outlook report is based on responses provided by global private markets participants surveyed in February, including both fund managers and limited partners.

Read the 2026 Private Equity and Venture Capital Outlook report.

Selected top findings

– The macroeconomic outlook leans gloomy, with the majority of general partners surveyed expecting GDP growth to remain the same or deteriorate in the year ahead

– Despite concerns about the economy, most GPs expect deal volumes to hold steady or improve in 2026

– Those deals could be smaller, though, with GPs in the survey more likely to predict a deterioration in deal values than an increase

– GPs were split nearly evenly on the 2026 outlook for distributions, with a slightly larger share predicting they'll deliver enough profits to satisfy limited partners

– Most GPs view operational improvements as the clearest path to value creation at portfolio companies

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