Anyone have a sense for how recruiting is looking like at funds right now? Particularly the MMs. Expected things to pick up a bit more in January than they have, but my experience my not be representative.
Last time I was involved was 2021/2022 felt like every week you were getting inbounds from recruiters.
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Based on the most helpful WSO content, the current state of recruiting in 2026, particularly for middle-market (MM) funds, seems to be slower than expected for January. This aligns with observations from previous years where recruiting timelines have been shifting earlier and earlier, especially for top-tier funds. However, for MM funds, the pace may vary depending on the fund's size, strategy, and capital-raising environment.
If you're not seeing much activity yet, it could be due to the "off-cycle" nature of the current period. As noted in discussions about 2025 recruiting, the off-cycle process can be a slower, more prolonged grind compared to the intense on-cycle recruiting. It's also worth noting that some funds may still have spots open from the previous cycle, which could delay the start of new recruiting efforts.
For MM funds, focusing on well-capitalized firms with a strong track record is advisable, as smaller funds may face challenges in raising their next fund. Additionally, staying prepared for interviews and maintaining a strong deal sheet will be crucial as opportunities arise.
Sources: 2025 PE Recruiting (Post On-Cycle), PE Recruiting Failure, 2025 PE Recruiting (Post On-Cycle), Impact Funds Oncycle Recruiting?, Private Equity Recruiting Kicked Off?
I've had 2 MM inbounds and plenty of non MM inbounds so far this year... seems to be much stronger than 2H25 already
Where have the non-MM inbounds been geographically? Not getting much from the usual HHs (DSP, Search1, Odyssey, etc.) but could just be my preferences
NYC/CT and LA
Are you in a HF seat right now? I'd be coming over from sell-side so may be a bit different
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from the usual HHs. Except for a couple, all were generalist roles. Yes currently in a T1 LO seat
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bump
MMs are ALWAYS hiring/firing, and there is no reason for the rate of hiring to accelerate or slow down materially from one year to the next.
If anything, new MM funds keep launching and AUM for the overall space keeps growing, which should mean more hiring than any previous year.
Helpful context
Recruiting in 2026 feels faster, smarter, and way more candidate-driven than ever. AI helps with sourcing and screening, but strong employer branding, quick communication, and a smooth interview process still make the biggest difference. Companies that move slowly or overcomplicate hiring are losing top talent.
We’re also seeing more global and remote hiring, especially in sales recruitment, where speed and quality both matter. Many businesses are partnering with specialists like Alliance Recruitment Agency to access wider talent pools and hire efficiently while keeping that human touch.
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