At the start of the year, market expectations pointed to a more constructive M&A environment, supported by an improving domestic economy and strengthening fundamentals. Since then, renewed geopolitical disruption - including heightened conflict risk, trade fragmentation and energy market volatility - has reintroduced uncertainty into global dealmaking and complicated the outlook for 2026.

However, for private equity, volatility often presents opportunity. As an asset class underpinned by committed capital and disciplined investment horizons, private equity is structurally positioned to deploy through uncertainty, particularly where market disruption constrains balance sheets, risk appetite or execution capacity for others.

Our April publication examines how global and domestic conditions are shaping private equity activity in New Zealand, including:

• Key market trends influencing dealmaking, capital deployment and sponsor strategy
• Recent and notable transactions, with a focus on sponsor‑led activity
• Sector dynamics attracting capital despite global uncertainty
• Outlook considerations over the medium term

For further discussion or to explore how these trends may affect your business or investment strategy, please contact one of our private equity specialists.