321. M&A integration: PE’s new value creation playbook

Private equity is navigating one of its most challenging value creation environments in years, and winning firms are using M&A integration as a competitive weapon. Brian Dinneen and Matthew Maloney join us to discuss three high-impact integration strategies that leading sponsors are using to overcome these headwinds, based on their recent article. Related insights How private equity is using M&A integrations to overcome headwinds Unlocking full potential: Five practices reshaping PE value creation 2026 Global Private Markets Report: Private equity−clearer view, tougher terrain Beating the odds: How private equity firms can improve exit prospects Transforming value creation in private equity portfolio companies (podcast)Private Capital at McKinseySupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

The risk function’s fundamental purpose has not changed in light of AI. What has changed is the nature and pace of risks amplified by AI, as well as the tools available to manage them. Anke Raufuss, Björn Nilsson, and Laura Webanck join us to discuss the role of the digital twin and how it is changing the future of risk management.  Related Insights Evolving model risk management in the age of AI How companies can strengthen their geopolitical risk readiness Global risk productivity survey: Four themes shaping risk management The future of risk: How global trends are reshaping risk management From risk to resilience: New approaches to navigating disruption in Asia Risk and Resilience on McKinsey.com McKinsey Risk & Resilience on LinkedIn  Support the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

As strategy rises to the top of executive agendas, many organizations are struggling to translate bold strategic choices into sustained performance. In this episode, the global coleaders of our Strategy and Corporate Finance Practice, Sébastien Lacroix and Andy West, along with Whitney Zimmerman, a distinguished expert in strategy, discuss why mobilization has become the critical differentiator between strategy success and failure, and how leaders can build the capabilities needed to turn strategy into action in an era of intensified competition, ever-accelerating change, and uncertainty. Related insights Strategy and Value: The Four Foundations That Drive Long-Term Performance (our new book, due out in November) How to maximize competitive advantage How to ensure your company acts on your strategy How strategy champions win Strategy Beyond the Hockey Stick Fundamentals of strategy and value creation Have you tested your strategy lately?Support the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

In this bonus episode, McKinsey CFO practice leaders Kevin Carmody, Matt Maloney, and Christian Grube share their insights from the 2026 CFO Forum in London. Their conversation explores how the CFO role is evolving from financial steward to strategic value creator; why leading finance organizations are moving beyond incremental budgeting; how AI can provide the catalyst to fundamentally rewire finance operating models rather than simply automate existing processes; and why talent and capability building will determine which organizations capture the greatest value. They also discuss how CFOs can reclaim the strategic narrative, strengthen capital allocation, and create the headspace to focus on the bold moves that drive long-term growth.   Related insights Why accelerated resource allocation matters in the age of AI CFOs have been concerned about geopolitical impacts for months The CFO as growth leader: A conversation with Levi’s Harmit SinghSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Private equity firms are under increasing pressure to create value in a tougher market, with longer hold times and evolving value creation theses. Leading funds are using re-underwriting as a repeatable discipline that supports better decisions across the hold period. Join AD Bhatia, Jason Phillips, Hassen Ahmed and Manuel Fernandez Angulo as they unpack the what, when and who of re-underwriting. They share how AI assistance, leaner teams and a systematic approach can help overcome resourcing restraints to place this practice in the reach of every fund.    Related insights Unlocking full potential: Five practices reshaping PE value creation 2026 Global Private Markets Report: Private equity−clearer view, tougher terrain Beating the odds: How private equity firms can improve exit prospects How private equity is using M&A integrations to overcome headwinds Transforming value creation in private equity portfolio companies (podcast)Support the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

The traditional annual budget process is broken. It is rigid, backward-looking, and not operationally fit to keep up with today's fast-moving markets. Top-performing companies are outpacing peers by budgeting differently. Matthew Maloney, Karen McLoughlin, and Michele Tam join us to discuss their recent article on how top-performing companies are transforming the budget from a control mechanism to a dynamic road map for driving growth. They share how leading CFOs are more closely linking the budget to strategic priorities, and how harnessing AI enables a data-driven, forward-looking approach. Related insights Your budget is killing your strategy—here are four ways to fix it The CFO as growth leader: A conversation with Levi’s Harmit Singh CFOs have been concerned about geopolitical impacts for monthsSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Infrastructure is at a pivotal inflection point: its definition is expanding beyond traditional assets to digital and interconnected systems, demanding a fundamental mindset shift by governments, investors, and operators to plan, fund, and maintain integrated infrastructure that supports future growth and resilience. Alastair Green and Adrian Kwok discuss the latest findings from our 2026 Global Private Markets Report, take stock of the sector's latest trends, and reveal how private capital is responding to an evolving funding landscape Related insights 2026 Global Private Markets Report The Infrastructure Moment www.mckinsey.com/pc www.mckinsey.com/scfSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Competitive advantage is becoming much more fluid as market positions shift faster across industries, with advantages eroding and differentiation narrowing. Despite this increased volatility, companies often fail to actively monitor shifts in their competitive edge. Join Matt Banholzer and Laura LaBerge as they discuss their latest research on the erosion of competitive advantage and share what companies can do to maximize their edge over peers. Related Insights  Strategy’s biggest blind spot: Erosion of competitive advantage How top economic performers lean into their competitive advantage to guide their strategy Why accelerated resource allocation matters in the age of AISupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Long-term value creation is foundational to building strong companies and economies, yet many leaders struggle to ensure that well-conceived, well-executed strategies receive full recognition from investors. Senior Partner Ryan Davies and Associate Partner Jacob Marcus join us to discuss how to anticipate investor reactions, assess opportunities to outperform expectations, and embed an investor mindset into decision-making to build greater resilience. Related Insights Global Private Markets Report 2026 Private equity 2026 outlook: Clearer view, tougher terrain Unlocking full potential: Five practices reshaping PE value creation Transforming value creation in private equity portfolio companies The coming wave of business transfers What every CEO can learn from private equity The CEO’s Guide to the Investment GalaxySupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

In today’s tougher exit environment, private equity firms are facing longer holding periods, valuation gaps, and increased pressure to return capital. Kai Vollhardt and Jelena Bauer are joined by Christian Habrich and Frederyk Schroeder as they unpack their latest article on how to drive successful exits. They share strategies that top-performing firms use to improve exit outcomes and turn preparation into premium valuations, including how to translate AI potential into a credible value story. Related Insights Beating the odds: How private equity firms can improve exit prospects Global Private Markets Report 2026 Private equity 2026 outlook: Clearer view, tougher terrain Unlocking full potential: Five practices reshaping PE value creation Transforming value creation in private equity portfolio companies (podcast) The coming wave of business transfers (podcast) What every CEO can learn from private equity (podcast)  Support the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information