Is Private Equity Broken? Why the Buyside’s Problems Are Making 2026 “The Year of the Banker” | High Yield Harry
Episode publishedPodcast: Monetary Matters with Jack Far...Monetary Matters with Jack Farley
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Welcome to Other People's Money. I'm Max Sweetie, and today, I'm joined by high yield Harry. Harry, welcome to the show.
Thanks for having me, Max.
You are a leading voice in the FinTwit community and a prolific chronicler of all things related to the buy side, both on Twitter and through your venture buy side hub. I wanna start because between AI supposedly coming for the junior analyst job, the maturation, and maybe we could say saturation of private equity, and the growing concerns about the state of private credit, things don't really seem great on the buy side. And so I'd love to hear from you whether you think that's true. And is this what you're seeing from the data that you collect from thousands of buy side professionals through
Yeah, thanks again for having me, Max. So I would say it's very bifurcated. I don't want to say tale of two cities, but there's so many different things going on at the moment that allow for a lot of folks to to make money on the buy side. But it's kind of the year of the investment banker and part of that's because of SpaceX and some of this other IPO activity that we've seen or expecting. But also the environment is kind of leaned more towards bankers just in terms of stability, just because a lot of PE and then private credit as well, just to some extent, like those folks have had to wait o
I'd say the LPs probably feel the same way.
Yeah. Yeah. I imagine they're not too happy. Hopefully they're getting their economics. But, you know, we've seen a lot of LPs voice concerns both about private equity and credit.
So it sounds to me like you're saying it's the year of the sell side, not the year of the buy side.
Yeah, yeah, that's that's a really good way to say it because we don't even have open AI and Anthropic quite yet. And with banking, there's just a lot of M and A activity going on and a lot of stability. Even with AI, it seems like a lot of bankers feel pretty good about this year and next year.
We'll go through all three of these things. Where do want to start? You want to start with private equity, private credit, this AI coming for the junior analyst job? What do you think is the area where there is the biggest pockets of concern?
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