EY's Ivan Lehon, Global Private Equity Leader, and Cord Stuemke, Europe West Private Equity Industry Leader in the IPEM TV Studio at IPEM Global 2026 in Paris
Key takeaways from this interview
01. Investors are looking for resilience
Sponsors are showing interest in sectors with durable demand and clearer underwriting, including healthcare, digital infrastructure, power and utilities, defense, aerospace, and AI-related businesses.
02. AI is both an opportunity and an underwriting challenge
The importance of choosing where AI can create real value—by identifying promising workflows and pairing them with the right technology and expertise—rather than treating AI as a blanket solution.
03. Exit preparation needs to start early
With liquidity still a challenge and many assets held for years, firms preparing 12–24 months ahead tend to achieve better exit results. Continuation vehicles and secondary transactions are also becoming lasting liquidity options.
04. Growth depends more on operational value creation than financial engineering
The discussion pointed to levers such as commercial improvements, procurement, supply chains, and AI-enabled growth. Despite market uncertainty, a positive outlook on private equity’s role in European transformation over the next 12 months.