Private equity trends show growth in Spain and Italy

Private equity markets in Spain and Italy are showing distinct trends driven by technology and macroeconomic shifts. In Spain, 80% of private equity managers expect to increase investments, according to the Grant Thornton Spain Private Equity Pulse 2026 report. This optimism is fueled by an increase in assets coming to market and improved domestic macroeconomic certainty. Key priority sectors for Spanish managers include technology, financial services, energy, and sustainability, with North America remaining a primary geographic target for 46% of respondents.

In Italy, the technology sector is experiencing a shift in investor approach. While traditional sectors have seen a market adjustment and slower transaction volumes due to uncertainty, the tech sector continues to grow. This resilience is attributed to the integration of artificial intelligence into business processes, which has bolstered investor confidence and investment multiples. Furthermore, the tech sector has demonstrated the ability to grow organically with less reliance on expensive financial leverage compared to traditional leveraged buyout models.