Outperformance in private equity is no longer defined by leverage or multiple expansion; disciplined value creation will be the decisive factor in future investment success. In this episode, AD Bhatia, Robin Ligon, and Jason Phillips are joined by CVC’s John Kelleher to discuss the key shifts in today’s PE environment and share five moves firms are making in response. The path to transforming value creation requires a more disciplined playbook: structured re-diligence, holistic transformation under a dedicated transformation leadership, stronger operating-team talent, and the use of AI as a portfolio-wide accelerator.

Related Insights

2026 Global Private Markets Report 

How private equity is using M&A integrations to overcome headwinds

Beating the odds: How private equity firms can improve exit prospects

McKinsey Strategy and Corporate Finance on LinkedIn

McKinsey Transformation on LinkedIn

Outperformance in private equity is no longer defined by leverage or multiple expansion; disciplined value creation will be the decisive factor in future investment success. In this episode, <a href="https://www.mckinsey.com/our-people/ad-bhatia?cid=cl4c-cml&amp;sid=%7b%7blead.SFDC%20Id:default=CL4C%7d%7d">AD Bhatia</a>, <a href="https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.linkedin.com%2Fin%2Frobinligon%2F&amp;data=05%7C02%7CClare_Kitada-SYDN%40external.mckinsey.com%7Cc5be7b773c324384e6d408deb507a56b%7Ccc8936bc93824fff87cb6f55999549e7%7C0%7C0%7C639147241691032195%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=jVqR%2BAHdnuymF2xfBFMV0AtVTmaz7vSvQ7AKo9vtCfE%3D&amp;reserved=0">Robin Ligon</a>, and <a href="https://www.mckinsey.com/our-people/jason-phillips?cid=cl4c-cml&amp;sid=%7b%7blead.SFDC%20Id:default=CL4C%7d%7d">Jason Phillips</a>&nbsp;are joined by CVC&rsquo;s <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;ved=2ahUKEwij4IfJjMeUAxVanK8BHVTKNAsQFnoECCAQAQ&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fjckelleher&amp;usg=AOvVaw3gHREE4pb31oR2LCk2J-EY&amp;opi=89978449">John Kelleher</a> to discuss the key shifts in today&rsquo;s PE environment and share five moves firms are making in response. The path to transforming value creation requires a more disciplined playbook: structured re-diligence, holistic transformation under a dedicated transformation leadership, stronger operating-team talent, and the use of AI as a portfolio-wide accelerator.
Related Insights
<a href="https://www.mckinsey.com/industries/private-capital/our-insights/global-private-markets-report">2026 Global Private Markets Report&nbsp;</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/how-private-equity-is-using-m-and-a-integrations-to-overcome-headwinds">How private equity is using M&amp;A integrations to overcome headwinds</a>
<a href="https://www.mckinsey.com/industries/private-capital/our-insights/beating-the-odds-how-private-equity-firms-can-improve-exit-prospects">Beating the odds: How private equity firms can improve exit prospects</a>
<a href="https://www.linkedin.com/showcase/mckinsey-strategy-corporate-finance/">McKinsey Strategy and Corporate Finance on LinkedIn</a>
<a href="https://www.linkedin.com/showcase/mckinsey-transformation/">McKinsey Transformation on LinkedIn</a>

We talk with McKinsey partners and corporate executives on the challenges they face creating lasting strategies in a fast-changing world. We also examine the different ways these executives approach these challenges and the new and innovative ways they think of creating a vision for their enterprises.

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The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few.  But it takes bold people and courageous approaches to seize those opportunities and create value.

In each episode of our weekly podcast, we interview the world’s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them. 

The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few. &nbsp;But it takes bold people and courageous approaches to seize those opportunities and create value.
In each episode of our weekly podcast, we interview the world&rsquo;s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them.&nbsp;