{
    "title": "Private equity outlook Q2 2026: from recalibration to opportunity",
    "modified_at": "2026-04-10 11:30:02",
    "published_at": "2026-04-10 11:30:00",
    "url": "https://schroders-capital.prezly.com/private-equity-outlook-q2-2026-from-recalibration-to-opportunity",
    "short_url": "http://prez.ly/rOBd",
    "culture": "en_BE",
    "language": "EN",
    "slug": "private-equity-outlook-q2-2026-from-recalibration-to-opportunity",
    "body": "<p><em>By Nils Rode, Chief Investment Officer, Private Markets at Schroders Capital</em></p><p><strong>With the asset class having gone through a historic slowdown in fundraising, deal and exit activity &ndash; and as renewed global volatility threatens to delay the recovery &ndash; we see continued opportunities and attractive entry points for disciplined, long-term investors.</strong></p><p>Our Q2 2026 investment outlook finds that private equity remains in a period of recalibration, which should translate into selective opportunity for investors &ndash; although the fallout from the Iran conflict may delay a broader recovery.</p><p><strong>Key takeaways:</strong></p><ul class=\"release-content-list release-content-list--bulleted release-content-list--align-inherit\"><li><span>Private equity is experiencing its longest downturn on record, surpassing all prior cyclical troughs, with fundraising, deal and exit activity remaining below post-pandemic peaks.</span></li><li><span>Two tentative recoveries - in late 2024 and the second half of 2025 - were both interrupted by macroeconomic shocks, first US tariff volatility and then conflict in the Middle East driving a spike in global energy prices.</span></li><li><span>Despite near-term headwinds, slower fundraising cycles have historically preceded attractive investment vintages, creating opportunities for disciplined, long-term investors.</span></li><li><span>Small and mid-market buyouts remain attractively priced, with entry multiples approximately 40% below large buyouts and 55% below comparable public small-cap benchmarks, supported by lower leverage and greater scope for operational value creation.</span></li><li><span>Secondary deal volumes reached a record in excess of $200 billion in 2025, with continuation vehicles growing faster than previously forecast and presenting opportunities particularly in less crowded mid-market segments.</span></li><li><span>Venture capital dynamics are highly divergent: late-stage valuations have surged to new highs driven by AI-related investment, while early-stage markets offer a more measured recovery and biotechnology remains a contrarian opportunity.</span></li></ul><p><a href=\"https://mybrand.schroders.com/asset/01a16a14-ff09-4507-ab29-d17ab6078b5e/pe-outlook.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Click here to read the full report.</a></p><h4 id=\"media-contact\" >Media contact</h4><div class=\"release-content-contact\" id=\"contact-bb2763ac-6232-4326-8da0-b8deecb10bb2\">\n    \n    <div class=\"release-content-contact__details\">\n        <strong class=\"release-content-contact__name\">Wim Heirbaut</strong>\n        <em class=\"release-content-contact__description\">Senior PR Consultant, Befirm</em>\n        <ul class=\"release-content-contact__details-list\"><li class=\"release-content-contact__details-list-item\"><a href=\"mailto:wim.heirbaut@bepublicgroup.be\"  class=\"release-content-contact__details-list-item-link\" title=\"wim.heirbaut@bepublicgroup.be\"><svg class=\"icon icon-paper-plane release-content-contact__details-list-item-icon\">\n                <use xlink:href=\"#icon-paper-plane\"></use>\n            </svg>wim.heirbaut@bepublicgroup.be</a></li>\n<li class=\"release-content-contact__details-list-item\"><a href=\"tel:+32475741752\"  class=\"release-content-contact__details-list-item-link\" title=\"+32475741752\"><svg class=\"icon icon-mobile release-content-contact__details-list-item-icon\">\n                <use xlink:href=\"#icon-mobile\"></use>\n            </svg>+32475741752</a></li></ul>\n    </div>\n</div>",
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            "name": "Wim Heirbaut",
            "company": "Befirm",
            "description": "Senior PR Consultant",
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        "username": "wim@befirm.be",
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        "name": "Wim Heirbaut",
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        "created_at": "2018-03-13T13:50:46+00:00",
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