Top private equity news of the week

Partners Group expects private markets to enter 2026 at what it describes as “high altitude”, with valuations elevated across asset classes and conditions requiring greater selectivity.

Partners Group notes that global growth proved resilient in 2025, despite geopolitical tension and policy uncertainty. Looking ahead, the firm expects continued support from policy measures. In the US, rate cuts delivered in 2025 and a further 25–50bps of easing expected in 2026 should reduce borrowing costs. Around $11trn of floating-rate debt is set to benefit from lower interest expense, easing refinancing pressure ahead of a 2026–2027 maturity wall.

Private equity is entering 2026 in a markedly different position from the rapid expansion years that followed the pandemic, according to Preqin’s Private Equity in 2026 report.

The asset class remains structurally attractive, but capital flows are increasingly governed by realised performance rather than fundraising ambition.

Preqin notes that fundraising conditions remain constrained as limited partners continue to manage denominator pressure and slower distribution cycles. While investor appetite for private equity has not disappeared, commitments are being channelled more selectively towards managers with established track records and evidence of realised exits. Re-ups are taking precedence over new relationships.

TA Associates has agreed to acquire a majority stake in PairSoft, a provider of procure-to-pay automation and payment software.

The growth investment will support product innovation and global expansion.

PairSoft serves mid-market and enterprise customers with AI-driven solutions covering accounts payable, procurement, payments, and document management. Its software integrates with ERP platforms including Oracle, NetSuite, Microsoft Dynamics, Blackbaud, and Sage Intacct.