Culture as a value lever That PE investors are thinking about culture as a value lever should not be surprising. Recent discussions between PE boards and operating partners highlight that even the most detailed playbooks, growth targets and process improvement plans can be undermined if culture and incentives are misaligned. Growth in fund value is…

March 2, 2026 Read more >

The UK economy needs to grow. That is the simple message (and fervent hope) of the Government. It is welcoming to see steps already being taken to support this, for example via the proposed changes to the Enterprise Management Incentive scheme (see our reporting of this here – Employee Share Schemes). This quest for nurturing…

February 25, 2026 Read more >

MM&K’s annual Private Equity and Venture Capital Compensation Survey continues to provide one of the most comprehensive analyses of remuneration trends across the industry. Drawing on data from a wide cross-section of firms, the survey captures salary movements, bonus structures, long-term incentives (LTIs) including carry, and broader talent dynamics shaping the market. The 2025 findings…

February 23, 2026 Read more >

In December 2025, HM Revenue & Customs published the Employment Related Securities Bulletin (November 2025). The bulletin contains details from Autumn Budget 2025, including on the Private Intermittent Securities and Capital Exchange System (PISCES), Enterprise Management Incentives (EMI) and the published summary of responses to the Share Incentive Plans (SIP) and Save As You Earn…

January 21, 2026 Read more >

MM&K has published its 2025 European Private Equity and Venture Capital Compensation Report. Now in its 30th year, the study remains one of the most comprehensive sources of compensation and workforce data across the European private capital industry. The 2025 Report draws on extensive participation from private equity and venture capital firms across Europe, providing…

January 19, 2026 Read more >

Following the launch of our first-ever Africa Compensation Survey for the African Private Equity and Venture Capital Industry (originally announced on 11 November 2025), we are pleased to confirm that survey participation remains open and the deadline for submissions has been extended to the end of March 2026. The survey continues to gather market-leading data…

January 19, 2026 Read more >

UK & European Private Equity: Managing Compensation Across Roles In the UK and Europe, private equity firms are focusing on strategic remuneration across different levels to sustain talent during uncertain markets. The 2025 MM&K survey highlights that: Investment Partners experienced a 6% increase in total cash compensation, including base salary and most recent bonuses. Senior…

December 16, 2025 Read more >

The government delivered its Autumn Budget on 26 November 2025. This article briefly discusses the likely impact that the Budget may have on employee share schemes. The main relevant tax changes are: Enterprise Management Incentives (EMI) Plans – The government has proposed that from 6 April 2026, legislation will be introduced to increase the following…

November 27, 2025 Read more >

UK & European Private Equity: Navigating Market Pressures The UK and European private equity market in 2025 continues to face a complex macroeconomic influences, including interest rate pressures, valuation uncertainty, and constrained exit activity. In H1 2025, European deal activity declined by 18% to 3,182 transactions. Interestingly, while fewer deals closed, the total exit value…

November 24, 2025 Read more >

MM&K together with Business & Remuneration Consultancy firm 21st Century launches its First-Ever Africa Compensation Survey for the African Private Equity and Venture Capital Industry. This survey provides participating firms with market leading, detailed information on both the quantum and structure of pay in the African PE, VC, Infrastructure and Real Estate fund management industries. The survey collects…

November 11, 2025 Read more >

As part of its growth agenda, the government has indicated that it wants more investment – but not just from “big institutions”.  There is a desire to get “ordinary individuals” (known as “retail” investors” in the industry parlance) more confident in making investments outside of their pension and standard savings accounts. It will be interesting…

October 27, 2025 Read more >

We are pleased to announce the release of The 2025 HOLT-MM&K North American Private Equity and Venture Capital Compensation Report. This annual benchmark continues to offer one of the most authoritative views of compensation trends and practices across the PE and VC fund-management ecosystem in North America. (See the official 2025 report page for more…

October 23, 2025 Read more >