Ivan Lehon

Navigating Liquidity Challenges in Private Equity | Global Conference 2026

Ivan Lehon, Jenny Chan, Dipanjan "DJ" Deb, Dean Mihas, Yann Robard, Jonathan D. Sokoloff, Paul Taubman, DJ, Jan Robart

Private equity leaders characterize the current liquidity environment as a crisis marked by valuation gaps and extended hold periods, prompting a strategic pivot from traditional IPOs and M&A toward continuation vehicles as a permanent structural solution. Panelists from firms including Francisco Partners, Leonard Green, and Dawson Partners highlight how AI-driven margin improvements and revised underwriting practices are redefining value creation while raising the stakes for fund exits that must now prioritize tangible DPI over theoretical IRR. This shift has spurred the largest single-asset continuation vehicle funds to date and is forcing the industry to adapt fund structures beyond the traditional 10-year model to manage a surplus of private assets against constrained public market capacity.