Uploaded August 2026 | Updated September 2026, 2 weeks ago
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 McKinsey’s AD Bhatia, Jason Phillips, Hassen Ahmed and Manuel Fernández 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.
*Chapters:*
00:00 – Intro
01:22 – Why private equity firms are rethinking value creation
03:20 – Longer hold periods, shifting theses, and LP pressure
07:55 – What strategic re-underwriting looks like in practice
11:14 – How AI can accelerate re-underwriting
14:12 – When market shifts change the investment thesis
17:38– The what, when, and who of re-underwriting
22:26 – Three types of strategic re-underwriting
26:49 – Communicating the benefits to LPs
31:32 – Who should lead and resource re-underwriting?
44:00 – How private equity firms can get started
*Read more:*
_Five practices reshaping PE value creation:_ mckinsey.com/capabilities/transformation/our-insights/unlocking-full-potential-five-practices-reshaping-pe-value-creation
_An adaptive approach to re-underwriting:_ mckinsey.com/industries/private-capital/our-insights/the-second-look-an-adaptive-approach-to-reunderwriting
*Find us on:*
LinkedIn: linkedin.com/showcase/mckinsey-strategy-corporate-finance
X: https://x.com/McKStrategy
Subscribe to our channel: mck.co/YouTube
Subscribe to our newsletters: mck.co/Subscribe
Listen to previous episodes of _Inside the Strategy Room:_
Apple Podcasts: podcasts.apple.com/us/podcast/314-how-to-maximize-competitive-advantage/id1422814215?i=1000779186822
Spotify: open.spotify.com/show/4TcFfiQ0e6OYuc5kRDLxqj
Explore transcripts from previous episodes: mck.co/3SqhkOp
See 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 McKinsey’s AD Bhatia, Jason Phillips, Hassen Ahmed and Manuel Fernández 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.
*Chapters:*
00:00 – Intro
01:22 – Why private equity firms are rethinking value creation
03:20 – Longer hold periods, shifting theses, and LP pressure
07:55 – What strategic re-underwriting looks like in practice
11:14 – How AI can accelerate re-underwriting
14:12 – When market shifts change the investment thesis
17:38– The what, when, and who of re-underwriting
22:26 – Three types of strategic re-underwriting
26:49 – Communicating the benefits to LPs
31:32 – Who should lead and resource re-underwriting?
44:00 – How private equity firms can get started
*Read more:*
_Five practices reshaping PE value creation:_ mckinsey.com/capabilities/transformation/our-insights/unlocking-full-potential-five-practices-reshaping-pe-value-creation
_An adaptive approach to re-underwriting:_ mckinsey.com/industries/private-capital/our-insights/the-second-look-an-adaptive-approach-to-reunderwriting
*Find us on:*
LinkedIn: linkedin.com/showcase/mckinsey-strategy-corporate-finance
X: https://x.com/McKStrategy
Subscribe to our channel: mck.co/YouTube
Subscribe to our newsletters: mck.co/Subscribe
Listen to previous episodes of _Inside the Strategy Room:_
Apple Podcasts: podcasts.apple.com/us/podcast/314-how-to-maximize-competitive-advantage/id1422814215?i=1000779186822
Spotify: open.spotify.com/show/4TcFfiQ0e6OYuc5kRDLxqj
Explore transcripts from previous episodes: mck.co/3SqhkOp
See mckinsey.com/privacy-policy for privacy information.
