Managers

Park Road was founded a year ago by managing partner Kyle Peterson, who previously worked for more than 14 years at New Mountain Capital.

Even in the toughest fundraising market since the GFC, LPs still have interest in backing new managers. As some larger shops struggle to hit targets, new firms are stepping up to capture the interest of increasingly picky LPs.

In today's edition, Our 2026 PEI 300 ranking reveals a divided industry; Early warning systems are becoming scarcer in PE's biggest source of debt; Two more private markets specialists set up shop in Tokyo.

Year-on-year growth is back on track after last year’s fundraising flatline, though the nature of this growth has shifted.

LPs are showing increased interest in specialised mid-market strategies – a fact that is reflected in this year’s PEI 300.

This year’s PEI 300 ranking welcomes 35 new firms, with some old names struggling to maintain their historic highs.

Evergreen funds account for about 5% of private markets NAV today, a figure that is expected to grow in the long term.

The number of regional firms continued to slide in the latest ranking, albeit at a slower rate than in prior years.

Mega-funds, market bifurcation and a resurgent investor base are reshaping the continent’s private equity landscape.

While recent AI disruption is yet to infiltrate the PEI 300 ranking, tech-focused managers must be sure to future-proof their operations.