US private equity confidence holds steady despite rising financing pressures
The global survey from Forvis Mazars finds 83% of U.S. firms remain confident in portfolio growth
NEW YORK, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Forvis Mazars, LLP, one of the largest public accounting and consulting firms in the U.S., has released its US Private Equity Report: 2026 Insights. The report features findings from more than 150 U.S. respondents within the broader global survey from Forvis Mazars that sampled more than 800 private equity (PE) professionals across all regions.
This year’s report shows that U.S. PE firms continue to demonstrate strong confidence in portfolio growth, even as financing challenges, interest rate pressures, and geopolitical uncertainties reshape dealmaking strategies.
“U.S. PE firms are showing remarkable discipline and adaptability in a market defined by volatility and selective opportunity,” said Scott Linch, managing partner of Forvis Mazars Capital Advisors and national Private Equity sector leader at Forvis Mazars US. “Deal activity began to rebound late in the year, and nearly every fund we speak with has either sold a company recently or plans to bring one to market in the next 12 months. Even with tighter financing conditions, U.S. investors continue to find growth opportunities and maintain a strong operational focus.”
Key U.S. Findings
- Portfolio Performance & Growth: 83% of U.S. firms are “very” or “fairly” confident that conditions will facilitate growth across their portfolio, similarly to 2025.
- Use of Leverage: The average leverage percentage adopted by surveyed firms is 56%. Majority active investors employ significantly more (61% leverage on average) than others (48% on average), likely reflecting their greater level of control and confidence in their assets.
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Investment Types & Leverage: Growth capital dominates (73%), followed by venture capital (57%) and private debt (55%).
2026 Challenges & Obstacles
PE firms across the U.S. continue to face mounting external pressures, with market, geopolitical, and other external trends cited as the top challenge impacting portfolio performance (61%), followed by operational complexity (50%), company culture (25%), and misalignment with management (22%).
Financing conditions have also tightened, with 67% of respondents reporting an impact on build-up strategies, an 18-point increase over 2025 and well above the global figure of 58%. In addition, 64% report seeing effects on exit strategies, also a notable rise from 2025. Valuation gaps and financing constraints are making exit conditions tougher, leading to longer holding periods. Some report they are now making longer-term structures the standard rather than the exception.
The Rise of Artificial Intelligence
Artificial intelligence is rapidly becoming a central driver of execution quality in private equity, enhancing strategy delivery through stronger systems, data capabilities, and digital tools. Firms are increasingly using AI to boost productivity, solidify risk management, and improve forecasting, pricing, and process optimization. However, adoption remains uneven, particularly among smaller businesses and those with lower data maturity. As AI introduces new risks around data security and governance, successful firms will be those that pair AI enabled efficiency with strong judgment, disciplined oversight, and robust operational expertise.
Market Outlook & Cross-Border Activity
U.S. firms remain selectively optimistic about 2026, supported by stable portfolio performance and strong operational discipline. Despite macroeconomic volatility, PE investors continue to view cross-border activity as essential. Their top international targets include Canada, the U.K., and France, reflecting sustained appetite for global diversification.
“Despite continued volatility, U.S. PE firms are entering 2026 with resilience and a clearer sense of strategy,” Linch added. “The late-year momentum is carrying forward, and most managers expect deal flow to accelerate as more assets come to market and competition intensifies. In this environment, the firms that succeed will be those that stay disciplined, execute well, and remain committed to sustainable value creation.”
For more insights, download the full report today.
About Forvis Mazars
Forvis Mazars, LLP is an independent member of Forvis Mazars Global, a leading global professional services network. Ranked among the largest public accounting firms in the United States, the firm’s 7,000 dedicated team members provide an Unmatched Client Experience® through the delivery of assurance, tax, and consulting services for clients in all 50 states and internationally through the global network. Visit forvismazars.us/about-us to learn more.
Contact: Mike Brothers, PR Manager
mike.brothers@us.forvismazars.com
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