Acertitude: Impact of a Downturn on the Human Capital Function

The session at the PEI OP Human Capital Forum, a gathering that unites an esteemed group of human capital value creators and operating partner talent specialists, focused on how private equity firms are adapting to current economic conditions, both in their portfolios and within the human capital function. The attendees, predominantly talent partners from middle market funds, along with a few from venture and family offices, shared their expectations for the upcoming economic landscape:

  1. Many attendees believed that the recession is imminent, though it has not yet taken hold.

  2. The majority anticipated that the recession would likely begin between Q3 2023 and Q1 2024.

  3. While most expected a "Soft" recession to last a few quarters, a couple of firms expressed concerns about a "Hard" recession, with significant and longer-term consequences.

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Scott Jacobs
Thought leadership category