The future of private markets

In our Autumn 2026 round of PE Connect, we explored The Future of Private Capital and the trends that are already reshaping the market.

If AI changes how firms operate, regulators change how firms behave, and investors change where capital flows, what will the private capital industry look like in five years' time?

From the rise of AI-powered finance functions and evolving expectations on service providers, to increased regulatory scrutiny of evergreen structures, changing tax regimes and some changing outlooks on private markets, during our latest round of PE Connect we brought together market leaders and specialists to explore the trends, risks and opportunities transforming the sector.

PE Connect Autumn 2026

Download the slides here

PE Connect Leadership Forum

Our PE Connect sessions explore key markets trends and also the issues facing the private capital industry including regulatory developments, tax, and technology.

Jersey

London

Guernsey

Monday 2^nd November

Private markets outlook to 2031

Kimberly Coote gave a 2026 Private Market update and dissected key themes emerging from 2026 data. She took a look at the polarised landscape which is emerging, where big deals are getting bigger, while activity elsewere is more selective. She also explored latest forecasts through to 2031.

Wednesday 4^th November

Private markets outlook to 2031

Rachel Daborah of Preqin by Blackrock returned to PE Connect and unpacked forward-looking forces shaping private markets. She explored Preqin's latest forecasts through to 2031, dissected key themes emerging from 2026 data, and took a closer look at Europe and the enduring European discount.

Friday 6^th November

Private markets outlook to 2031

Varun Vohra and Emilie Vermeulen gave a 2026 Private Market update and dissected key themes emerging from 2026 data. They took a look at the polarised landscape which is emerging, where big deals are getting bigger, while activity elsewere is more selective. They also explored latest forecasts through to 2031.

AI in private capital finance

The role of artificial intelligence across private equity was explored by Matt Stubbington who discussed where AI adoption is gaining momentum within the industry and how expectations are evolving among CFOs, fund administrators and legal advisers.

AI in private capital finance

Nader Karimi from KPMG US, explored how artificial intelligence is being adopted across PE finance and evolving expectations of CFOs, fund administrators and legal advisers. Drawing on recent surveys and practical examples, Nader discussed approaches to capturing, storing and extracting information to enable large language models to deliver reliable, traceable insights.

AI in private capital finance

The role of artificial intelligence across private equity finance was explored by Matt Stubbington who discussed where AI adoption is gaining momentum within the industry and how expectations are evolving among CFOs, fund administrators and legal advisers.

Regulatory spotlight on private capital

Jeff Parongan explored the evolving regulatory landscape for private capital firms, highlighting emerging supervisory priorities, recent policy developments, the continued growth of evergreen structures, and key insights from the Bank of England's System Wide Exploratory Scenario. He also gave overview on the proposed Fund Reporting for Asset Management Entities (FRAME) reguatory reporting framework.

Regulatory spotlight on private capital

Jeffrey Parongan and Varun Vohra explored the evolving regulatory landscape for private capital firms. Their session covered emerging supervisory priorities, recent policy developments, the continued growth of evergreen structures and key insights from the Bank of England's System Wide Exploratory Scenario.

Regulatory spotlight on private capital

Michael Johnson, who leads KPMG UK's risk and regulatory advisory practice for alternative investment clients, explored the evolving regulatory landscape for private capital firms, highlighting emerging supervisory priorities, recent policy developments, the continued growth of evergreen structures, and key insights from the Bank of England's System Wide Exploratory Scenario. He also gave overview on the proposed Fund Reporting for Asset Management Entities (FRAME) reguatory reporting framework.

Tax: what's next for private capital?

The final session, led by Matt Thomas, shared broader changes firms should be preparing for and the issues most relevant to businesses operating in the Channel Islands.

Tax: what's next for private capital?

The final session, led by Serena Bell, focused on the tax landscape following the UK Budget announcement. Serena shared key tax developments affecting private capital firms, including considerations around the new carried interest regime and the broader tax changes that private equity houses should be monitoring.

Tax: what's next for private capital?

Matt Thomas took a look at the tax landscape following the UK Budget announcement. Matt shared key tax developments affecting private capital firms, including changes firms should be preparing for, and the issues relevant to businesses operating in the Channel Islands.

KPMG Private Capital Thought Leadership

Name: PE Connect - Autumn 2026 event series
Start: 2025-11-06T17:15:00.000Z
End: 2025-11-06T21:15:00.000Z
Location: London

Our Pulse of Private Equity series provides you with quarterly insights into the private equity market globally and in major regions around the world. Our unique methodology aims to go beyond buyouts to capture the broad range of major PE deals activity; we also share perspectives into the market factors influencing key investment trends and look at how key trends might evolve over time.

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KPMG’s Venture Pulse, is a quarterly report showcasing the major trends, opportunities, and challenges within the venture capital market globally and in major jurisdictions around the world.

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The next shift of private markets is already underway. We’re pleased to announce the launch of our latest global private capital and asset management report, Private no more: The democratization of private markets. The report explores one of the most significant shifts in the industry today: the expansion of private market investing beyond institutional investors and into wealth, and advisory channels. It draws on insights from 100 asset managers, fund managers and distributors across the Americas, EMA and ASPAC to examine where the market is headed, the operational challenges firms face and what separates the leaders from the rest.

Learn more