2025 Was About Execution. 2026 Will Reward the Teams Built to Compound.

Across our Q1 to Q3 2025 Talent Outlooks, the signals were consistent. Execution pressure arrived early. Carve-outs and integrations pulled delivery work forward. The market moved from ambition to ROI, sequencing and value proof.

By Q4, the picture was clear: value creation did not wait for exits to fully reopen. While parts of the exit market improved marginally late in the year, liquidity remained uneven and behaviour adjusted accordingly.

This report looks back at what held, what surprised us and what that means for talent in 2026.

Deal momentum is back, but the leadership challenge is changing

After a subdued start to the year, the UK private equity market has reignited. Optimism is returning, capital deployment has accelerated, and transformation agendas are once again central to portfolio value creation. But as deal activity rebounds, expectations of leadership talent are evolving just as quickly, with investors now demanding operators who can prove value creation, not just promise it.

As we move into the second half of 2025, it’s clear we’re in a market defined by dualities.

Deals are taking longer to complete, but integration programmes are picking up pace. Budgets are under pressure, yet operational hiring hasn’t slowed. AI is being scrutinised more closely, even as implementation speeds up.

Across our private equity network, we’re seeing a shift from broad ambition to focused execution. Talent strategy is following the same suit.

Q1 2025 has set the tone for what we believe will be a transformative year for private equity. Across the UK, Netherlands, France, and the UAE, leading firms are embracing flexible hiring models, expanding functional expertise, and prioritising finance leadership in an effort to maximise value creation from increasingly complex portfolios.