Private equity activity moderated in Q3 2026. There were fewer global deals and their value eased year on year. Exit values were also flat. But not all liquidity is created equal. 

In this quarter’s edition of our Private Equity Market Insights, “Mid-Market to the Rescue,” we ask how the mid-market may be able to play a role in rescuing LPs from their liquidity woes. 

In this quarter’s edition we will also cover: 

• The macro picture: $294.6B in global deal value, venture capital by value up year on year, and exits flat at 565 globally (Preqin, Q3 2026).

• Market trends: The end of the leveraged buyout era debate puts value creation back on centre stage, while AI splits into two trades, and a rate reset raises the bar.

• The mid-life capital strategic engine: Mid-life capital has become a structural feature of private equity. Not a cyclical workaround. Co-heads of Direct Investments PJ Frederix and Jeff Reals discuss why this matters for LPs. 

The report also includes the highlights of Sagard Private Equity’s investment and exit activity during the quarter.