Private Capital Perspectives: The U.S. in 2026 and Beyond brings together the views of 248 North American GPs and LPs at a pivotal moment for private markets.
The findings point to a year defined not by exuberance or retreat, but by conditional confidence: expectations of continued U.S. growth sit alongside elevated concerns around inflation, valuation risk, liquidity and regulation.
As dry powder builds and pressure to deploy intensifies, fund managers and allocators are navigating a more disciplined environment, where execution quality, governance, operational resilience and regulatory preparedness increasingly determine who can move with confidence.
Drawing on perspectives across private equity, credit, real assets and infrastructure, the report explores how capital is likely to be deployed in 2026, where risks are concentrating, and why private markets remain structurally important even as scrutiny rises.
