July 22, 2026
After a war-induced pause, US PE activity gained steam later in the quarter. Contributing to this uptick, from our observations, were co-investments that had been put on hold at the start of the conflict finally coming to market. Concerns still exist in technology-related sectors, but we believe future valuations should likely be more rational in differentiating winners and losers. Generally, sponsors view AI as a tailwind for portfolio companies overall, acting as a driver of efficiency.
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