2026 Mid-Year Private Markets Outlook - 7 Themes Shaping the Markets

The Second Order Podcast

August 27, 2026

In today’s market environment, everything is connected, but very little is equally consequential. 

In this inaugural episode, Market Strategists Scott Voss and Mindy Lahrman explain why that idea inspired a new term for HarbourVest’s 2026 Mid-Year Private Markets Outlook: idiosyncronicity.

They explore how the same market environment is producing vastly different outcomes across companies, managers, and portfolios, and how that dynamic is playing out across four themes: AI, exits and performance, evergreen funds, and the current market share shift.

Their conclusion: manager selection, diversification, and asset-level underwriting may matter more today than at any point in the last decade. 

The macro may set the storm. But the asset-level decisions determine who gets through it. Listen for more.

HarbourVest Partners, LLC (“HarbourVest”) is a registered investment adviser under the Investment Advisers Act of 1940. This material is solely for informational purposes; the information should not be viewed as a current or past recommendation or an offer to sell or the solicitation to buy securities or adopt any investment strategy.  In addition, the information contained in this document (i) may not be relied upon by any current or prospective investor and (ii) has not been prepared for marketing purposes. In all cases, interested parties should conduct their own investigation and analysis of any information set forth herein and consult with their own advisors. HarbourVest has not acted in any investment advisory, brokerage or similar capacity by virtue of supplying this information.  The opinions expressed herein represent the current, good faith views of the author(s) at the time of publication, are not definitive investment advice, and should not be relied upon as such. This material has been developed internally and/or obtained from sources believed to be reliable; however, HarbourVest does not guarantee the accuracy, adequacy or completeness of such information. The information is subject to change without notice and HarbourVest has no obligation to update you.  There is no assurance that any events or projections will occur, and outcomes may be significantly different than the opinions shown here. This information, including any projections concerning financial market performance, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. 

HarbourVest Partners, LLC is a registered investment adviser under the Investment Advisers Act of 1940. The information on this site is intended solely for the benefit of firms and companies seeking private equity investment capital by providing general information on our services and philosophy. The material on this site is for informational purposes only and does not constitute an offer or solicitation to purchase any investment solutions or a recommendation to buy or sell a security nor is it to be construed as legal, tax or investment advice. Unless otherwise indicated, any information available through this site is as of the date indicated therein and may not be updated or otherwise revised to reflect information that subsequently becomes available. HarbourVest is under no obligation to update the information contained on this site. Additionally, the material on this site does not constitute a representation that the solutions described therein are suitable or appropriate for any person and HarbourVest does not accept any liability with respect to the information. By using this site you agree to the Terms of Use.