Know What's Happening in Investing

Across Private Markets, Expect a Selective Normalization in 2026

Private markets are entering 2026 with a selective normalization after years of excess capital raising and soft performance. Buyout activity is rebounding as deal values rise, valuations ease, and GP‑led continuations now account for 35% of exits. Venture capital remains concentrated, with AI‑related deals absorbing roughly two‑thirds of new capital while fundraising contracts. Real assets show a split picture, as energy‑security themes revive oil and gas fundraising while real‑estate sectors stabilize around high‑interest‑rate pressures.