2026 opens at a moment of rapid technological change and evolving global dynamics. The investment environment remains complex, with conditions varying across markets. Yet, this complexity is creating distinctive opportunities, particularly for investors who can work alongside established businesses navigating strategic or ownership transitions, and for companies operating in parts of the economy shaped by long-run structural forces.
Across sectors, technology, especially AI, is moving from pilots to real deployment. Companies are using it to sharpen operations, strengthen decision-making, and allocate capital with greater precision. Geopolitical tension and supply-chain rewiring continue to shape how global businesses scale, underscoring the value of local insight paired with a global perspective.
In this setting, private equity’s role goes far beyond providing capital. It centers on building enduring partnerships with management teams, supporting strategic decision-making, driving operational improvement, and sustaining growth through changing conditions.
The perspectives that follow reflect how our sector teams are interpreting these shifts, where they see potential, and which themes they expect to define the year ahead.
James Brocklebank and John Maldonado
Business & financial services
“In 2026, I believe sponsor investment will continue to empower a broadening set of professional services firms with three impactful tools: equity plans that incentivize firm value creation alongside individual production, the resources to organically invest in the AI solutions that advantage their partners, and the capital to pursue strategic, synergistic M&A. Firms who are well equipped in these areas will be positioned to outperform their peers at a time of exciting, rapid change for the professional services industry.”
Mark Dirzulaitis, Director
“Australia has a well-established and stable financial system, with secular tailwinds supported by regulated pension asset growth. Looking to 2026, we believe the most attractive sub-sectors leverage technology to deliver better outcomes for investors and customers, such as innovative payments and wealth management. We are also seeing carve-out opportunities and potential to partner with large institutions to create value for all stakeholders.”
Hayden Neeland, Director
“The ‘retailization’ of private markets is driving a ‘public-private continuum’. To accommodate retail scale, the industry needs a unified infrastructure that normalizes private market complexity into the transparent, standardized ‘public-like’ metrics required to integrate private credit and equity into every wealth management portfolio.”
Gabriela Weiss, Director
Consumer
“As choice expands and attention fragments, consumers will gravitate toward brands that know them best. Those using data and AI to deliver relevant, timely, and personal experiences will earn deeper loyalty and capture greater share of wallet.“
Nicolas Chavanne, Managing Director
“AI is rapidly changing how consumers search for and evaluate goods. Models such as Gemini and ChatGPT are beginning to replace traditional discovery channels like Amazon and Google search. Brands need to adapt to this reality quickly in order to stay visible and competitive.”
Tricia Glynn, Managing Partner
“AI is rapidly changing how consumers search for and evaluate goods. Models such as Gemini and ChatGPT are beginning to replace traditional discovery channels like Amazon and Google search. Brands need to adapt to this reality quickly in order to stay visible and competitive.”
Tricia Glynn, Managing Partner
“Heading into 2026, we are excited by strong tailwinds in longevity and preventative health as consumers prioritize long-term vitality. Our experience at the intersection of Consumer and Healthcare, and history partnering with disruptive growth brands, positions us to support the next generation of category leaders redefining what it means to live well at every age.”
Michael White, Director
Healthcare
“The push for European strategic autonomy and pressure on drug pricing will give rise to interesting investment opportunities in specialist CDMOs/CMOs focused on complex generics/biologics or with strong EU-based supply chains.”
Christina Drakos, Director
“Pharma continues to be disrupted by an unprecedent set of forces from drug pricing to tariffs, to falling R&D productivity. Companies will continue to need partners who can help them to modernize their business model across phases and bring more advanced therapies to life.”
Mike Miltenberger, Director
Industrial
“Governments are increasingly turning to private capital to fund strategic defence priorities, catalyzing innovation in advanced manufacturing and defence technologies. At the same time, critical minerals are becoming central to industrial strategy, accelerating investment in mining, recycling, and alternative sourcing to reduce geopolitical risk and strengthen supply chain resilience.”
Shonnel Malani, Managing Partner
“The energy transition is shifting from ambition to execution, driving demand for critical power generation infrastructure across the entire value chain. Whether it is solving localized power constraints or supporting broader grid stability, the industrial equipment manufacturers enabling this shift will be essential in 2026 and beyond.”
Rainer Thuerbach, Managing Director
“Governments are increasingly turning to private capital to fund strategic defence priorities, catalyzing innovation in advanced manufacturing and defence technologies. At the same time, critical minerals are becoming central to industrial strategy, accelerating investment in mining, recycling, and alternative sourcing to reduce geopolitical risk and strengthen supply chain resilience.”
Shonnel Malani, Managing Partner
Technology
“In 2026, the focus will shift from experimentation to how AI can deliver tangible ROI at-scale, both for investors and for enterprise adopters.”
Douglas Hallstrom, Managing Director
“AI is a generational phenomenon. Unlike past waves, like client/server, cloud, and mobile, that were the ‘tide that lifts all boats’, AI represents both disruption threat and incredible opportunity.”
Bryan Taylor, Managing Partner
“Data rights, vertical-specific business logic, and strong customer relationships become even more important investment criteria in enterprise software in an AI-driven world.”
Lauren Young, Managing Director
“AI is a generational phenomenon. Unlike past waves, like client/server, cloud, and mobile, that were the ‘tide that lifts all boats’, AI represents both disruption threat and incredible opportunity.”
Bryan Taylor, Managing Partner
