PE Brief

Deal flow, fund performance, exits

Secondary markets, continuation vehicles, platform builds, and exit strategy. Intelligence for PE operators and allocators.

16+PODCASTS 16+ hoursAUDIO WEEKLY 9 minREAD TIME

SOURCED FROM

LATEST ISSUE

The 20% Efficiency Trap: Calacanis on SaaS Decay & Sundheim’s 5-LLM Bet

AI is decimating software valuations but creating massive, concentrated opportunities in foundational models. Traditional SaaS faces existential threats, while private capital chases a few dominant LLM players.

Mar 3, 2026 · 7 min read

Read this issue →

ALL PE BRIEF ISSUES

The ‘Unnatural’ Alpha: Pacific Avenue's Carve-out Play and the 40% Unicorn Gap

This week, we dive into the "unnatural owner" playbook, the "SaaSpocalypse" driven by AI, and why 40% of private unicorns are a ticking time bomb. Plus, learn how strong reputations translate to $7 trillion in shareholder value.

Feb 24 · 8 min read

29,000 Companies Stuck: PE Exit Bottleneck Worsens

The long-anticipated "normalization" of private markets might not be happening. Instead, we're witnessing a structural shift with 29,000 unsold companies, representing $3.6 trillion in unrealized value, and holding periods often exceeding five years. This isn't a temporary blip.

Feb 17 · 9 min read

'Pro Forma EBITDA Madness': 56% of Deals Unsellable

The private equity market is facing an unprecedented liquidity drought, with over half of companies failing to sell. The culprit isn't high valuations, but "pro forma EBITDA madness," leading to low DPIs and frustrated LPs.

Feb 10 · 13 min read

SaaS Pricing Under Siege: The AI Agent Threat to Per-Seat Revenue

The exit backlog isn't cracking as expected. Half the market tanks, the other half holds. Smart money rewrites the rules for distressed assets, propelled by AI and industry-specific "microcycles." Find out what top investors are saying.

Feb 3 · 9 min read

Flat Headcount, Rising Revenue: The New AI Productivity Playbook

Microsoft’s flat-headcount growth strategy, Blackstone’s 'farm-to-table' credit model, and why family offices are pivoting to structural alpha in co-investing.

Jan 27 · 12 min read

The Silent Power Shift: How Data Centers and AI Reshape Real Assets

The exit backlog isn't shrinking; it's being creatively circumvented. Discover how data centers and AI are creating unprecedented energy demand, reshaping real asset investment, and revealing where smart money is truly moving.

Jan 20 · 11 min read

Liquidity Without Exits: Why IP Licensing is a New M&A Workaround

The M&A playbook is being rewritten. Discover how private equity is adapting to high interest rates and valuation gaps with IP licensing, AI-driven strategies, and a relentless focus on talent. Liquidity is found in new places.

Jan 13 · 14 min read