Ryan Miske Discusses Global M&A and Private Equity Trends With Law360 for Midyear Report

Faegre Drinker partner and private equity team leader Ryan Miske spoke with Law360 for a midyear report article examining global merger and acquisition activity during the first half of 2026 and the factors shaping expectations for the remainder of the year.

Miske shared his perspective on private equity activity, noting that sponsors remain active but increasingly selective as prolonged diligence processes and geopolitical tensions affect valuations and transaction timelines. "It's been steady, but at times a little bit choppy," Miske said. "I'm seeing that some processes take a bit longer because the due diligence might be more intense.”

Additionally, Miske explained how AI's trajectory remains uncertain, which is complicating valuations and slowing processes in some parts of the market, as firms bring fewer portfolio companies to market and pace exits, including through secondary and continuation fund structures, Miske said. "Technology is one of the areas I think is a little bit more tenuous, making it harder to value the companies that might be impacted by AI," he said, noting buyers are often taking longer to conduct due diligence or stepping back from processes where AI exposure is unclear.

Lastly, Miske highlighted that sponsors remain well-capitalized and willing to transact in the second half of the year, but that "any new surprise that comes up could make things harder and lead people to hit pause."