A behind-closed-doors session in which LPs can share their experiences of private markets investment – across multiple geographies, using third-party managers or going direct, and leveraging advisory relationships. Attendance is limited to investors with active alternatives programs as well as to those currently not allocating but who wish to find out more about the industry. Featuring presentations, an interactive panel, and a practical group discussion, the session will cover topics including:  

• Where optimal and sub-optimal PE returns have come from
• The real impact of geopolitics on portfolios and how to address it
• The case for increased diversification in private equity programmes
• Where the balance of power currently lies in the LP-GP relationship 
• Whether the traditional approach to portfolio construction is fit for purpose
• What constitutes best practice exit management at the GP level
• How exit-or-roll decisions are made regarding continuation vehicles
• The implications of retail capital participating alongside institutional capital
• How LPs source and manage co-investment opportunities effectively 
• Whether building teams to go direct still makes sense for super funds

Private equity investors are repositioning themselves to prevail in the absence of cheap debt and multiple expansion – and in the shadow of macroeconomic uncertainty. There is more emphasis on value creation capabilities, on risk mitigation, and on early exit planning to maximise optionality. Geographic priorities are also being re-examined, which may see a subtle shift in allocations from the US to Europe, for example. What worked in 2016 doesn’t necessarily pass muster in 2026.

• What risk factors are top-of-mind for global private markets investors?
• How should investors go about utilising AI at the portfolio level?
• Will US mid-market be PE’s best performer in the coming decade?
• How are GP-LP relations changing as investor bases become more diverse? 

Australia buyout activity has stuttered in recent years, especially in the large-cap space – a consequence of rising costs, slower growth, and global macro uncertainty. Now, though, the economic outlook appears stable, with a gradual uptick in growth, manageable inflation, and low unemployment. Private equity investors must pick their spots carefully, but recent performance suggests they’ve done that well. With numerous mid-cap GPs hitting the fundraising trail, there’s motivation to make an impression in 2026.

• Which sectors can be relied upon to deliver both growth and resilience? 
• How do GPs position companies for exits?
• To what extent are Australian managers targeting different types of LP?  
• What has been the impact of increased regulatory focus on valuations?

Continuation vehicles (CVs) have proliferated in private equity, helping managers generate liquidity and propelling GP-led secondaries volume to record highs. This is a US-led phenomenon, but it’s driving a global debate. Investors are scrutinising GP motivations – focusing on asset selection, transaction timing, and economic incentives – as well as process integrity, specifically approaches to valuation, disclosure, and potential conflicts of interest. In the background, pools of capital targeting secondaries are growing in number and in volume.

• Are CVs a near-term liquidity fix or a long-term structural trend?
• Is it appropriate for a broken sale process to shift to a CV process?
• What potential red flags should LPs look out for when asked to exit or roll?
• Can CVs be used to generate co-investment and get access to top-tier GPs?

Exits are the top agenda item for venture capital investors globally, and Australia is no exception. IPO windows remain fleeting, and trade sales have been relatively muted. Exits via up-rounds as growth-stage investors back maturing start-ups are an increasingly popular option, but deal flow is contingent on a critical mass of portfolio companies achieving scale. While recent fundraising activity suggests that Australian managers are making an impression globally, they still have much to prove. 

• What has been the biggest source of liquidity in the past 18 months?
• Are smaller GPs being pushed out of the market as capital favours larger funds?
• How does Australian VC differentiate itself when marketing to global LPs?
• To what extent does AI dominate investment pipelines?

Private wealth platforms are an increasingly important source of alternative investment capital, targeted by global GPs marketing evergreen products and single-country managers looking to raise traditional blind pool funds. Investor education is a vital component, requiring managers to put resources on the ground – or find reliable partners – and recognise and respond to local nuance. Beyond that, they must consider what rising private wealth participation means for the development and retention of institutional investor relationships. 

• What does best practice look like from an education perspective? 
• Can wealth products be customised to deliver a certain risk-return profile?
• How does technology help managers address the complexities of scale? 
• Which at asset classes and strategies are most popular with private wealth? 

Bringing together industry leaders and business stakeholders, in partnership with Australian Investment Council will see more than 400 people take part in this major private capital industry gathering.

Most PE investors advocate starting work on value creation early – having initiatives ready to run once deals close – and being ambitious. It’s an approach intended underpin aggressive underwriting, ensuring portfolio companies maximise their potential during the holding period and command a premium on exit. Bringing in the right operational talent, driving digitalisation, and properly integrating bolt-on acquisitions are keystones of such efforts. So, too, is AI: as risk mitigation consideration and as a value driver.

• Which operational levers have proved most effective in Australia? 
• Where, when and how should AI be used in value creation? 
• What are the main issues to watch out for when engaging in M&A?
• How do required skillsets change as holding periods are extended? 

Private credit is becoming a preferred source of financing for many transactions and businesses, but size invites scrutiny. Following an extended period of strong market conditions, the market is seeing some deterioration in credit quality. Regulators, consumer interest groups, and the media are all weighing in – not least in Australia where it is feared that certain products have been oversold to inexperienced investors.

• What can be done to enhance education, regulation, and transparency?
• What are the growth prospects for private credit? 
• Does Asia Pacific PE need a more accessible high-yield bond market?
• How are private credit managers collaborating with banks?

Developed Asia plus India has become the preferred regional mix in recent years as investors look for opportunities beyond China. Japan has been the biggest beneficiary on a single-country basis – underlined by a string of oversubscribed funds – although many LPs are gravitating to the diversification-at-scale proposal of pan-regional options. Regardless of geography, managers must demonstrate an ability to exploit different liquidity channels, adapt investment strategies amid volatile macro conditions, and engage in meaningful value creation.

• Which geographies and sectors offer the best risk-return balance?
• How are GPs developing cross-border expansion capabilities? 
• Is China a value play or an excessively risky play?
• Are Asian GPs taking a more institutionalised approach to exits?

The global private equity industry is larger and caters to a broader pool of investors than ever before. Managers have launched new products, strategies, and structures to address different tastes, which inevitably prompts questions about alignment of interests. Secondaries is a prominent issue – LP perspectives on this increasingly mainstream innovation can vary markedly – but it is one several that may come to define GP-LP relations as the industry moves into a new, more complicated phase. 

• Are US-centric private equity portfolios becoming more diversified? 
• Can institutional and retail capital exist in the same structures without friction?
• What are the key issues for LPs when evaluating continuation vehicles?
• Are superannuation funds moving back into the lower mid-market?