Key Takeaways
- • The Deloitte Central European Private Equity Confidence Survey Index climbed to 135, significantly above its 20-year historical average of 116, signaling sustained optimism for 2026 deal activity and market conditions.
- • Market activity expectations surged dramatically, with 56% of respondents now optimistic about increased activity in 2026—more than double the 28% recorded in the prior survey period—while only 8% anticipate declining activity.
- • Economic sentiment strengthened substantially, with 46% expecting improved conditions (up from 24% in H1) and 53% forecasting enhanced financial efficiency of investments, reflecting confidence in operational value creation.
- • Debt availability continues its third consecutive period of improvement, with 51% of respondents expecting increased financing access (up from 41% previously), while liquidity concerns have nearly halved from 7% to 4%, indicating a normalization of credit markets.
- • The survey, spanning over two decades of sentiment tracking, suggests Central European PE practitioners have developed adaptive capability to navigate geopolitical volatility and macroeconomic uncertainty, though future tensions remain a potential headwind.
Summary
The Deloitte Central European Private Equity Confidence Survey Index has reached 135 for 2026, substantially above its historical average of 116 since the survey's inception in 2003. This marks a meaningful recovery and signals renewed optimism among PE practitioners across the region, reflecting increased confidence in both market conditions and deal-making prospects heading into the year.
Sentiment among Central European PE professionals has shifted decidedly positive across multiple dimensions. Market activity expectations showed the most dramatic improvement, with 56% of respondents now anticipating increased deal activity in 2026—a sharp reversal from just 28% in the prior survey period. Concurrently, only 8% expect activity to decline, indicating a broad-based expectation of market expansion rather than contraction. Economic outlook sentiment has similarly strengthened, with 46% of respondents expecting improved macroeconomic conditions, up substantially from 24% in the first half of the prior period. This economic optimism extends to operational performance, with over half (53%) of survey participants expecting enhanced financial efficiency across their investment portfolios.
Credit market accessibility has emerged as a particular bright spot in the survey results. Confidence in debt availability has grown for the third consecutive survey period, with 51% of respondents now expecting increased access to financing capital—up from 41% in the previous survey. This represents a sustained trend of improving credit conditions rather than a one-time rebound. Correspondingly, concerns about liquidity constraints have diminished significantly, with respondents expecting reduced liquidity pressures dropping from 7% to just 4%, suggesting normalization in the region's financing environment.
According to Jan Vomacka, Deloitte Partner and Private Equity Leader, the survey's improvement reflects the experience-based expertise within the Central European PE community. A slight dip recorded approximately one year ago was attributed to uncertainty surrounding the new US administration; the subsequent recovery demonstrates that investors have developed adaptive capacity to navigate ongoing geopolitical and macroeconomic volatility. However, Vomacka noted that emerging geopolitical tensions could yet challenge this renewed confidence, underscoring that sustained agility in responding to external shocks remains a critical capability for the region's PE practitioners moving forward into 2026.
Sentiment among Central European PE professionals has shifted decidedly positive across multiple dimensions. Market activity expectations showed the most dramatic improvement, with 56% of respondents now anticipating increased deal activity in 2026—a sharp reversal from just 28% in the prior survey period. Concurrently, only 8% expect activity to decline, indicating a broad-based expectation of market expansion rather than contraction. Economic outlook sentiment has similarly strengthened, with 46% of respondents expecting improved macroeconomic conditions, up substantially from 24% in the first half of the prior period. This economic optimism extends to operational performance, with over half (53%) of survey participants expecting enhanced financial efficiency across their investment portfolios.
Credit market accessibility has emerged as a particular bright spot in the survey results. Confidence in debt availability has grown for the third consecutive survey period, with 51% of respondents now expecting increased access to financing capital—up from 41% in the previous survey. This represents a sustained trend of improving credit conditions rather than a one-time rebound. Correspondingly, concerns about liquidity constraints have diminished significantly, with respondents expecting reduced liquidity pressures dropping from 7% to just 4%, suggesting normalization in the region's financing environment.
According to Jan Vomacka, Deloitte Partner and Private Equity Leader, the survey's improvement reflects the experience-based expertise within the Central European PE community. A slight dip recorded approximately one year ago was attributed to uncertainty surrounding the new US administration; the subsequent recovery demonstrates that investors have developed adaptive capacity to navigate ongoing geopolitical and macroeconomic volatility. However, Vomacka noted that emerging geopolitical tensions could yet challenge this renewed confidence, underscoring that sustained agility in responding to external shocks remains a critical capability for the region's PE practitioners moving forward into 2026.
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