Stephanie McCann weighs in on dividend recap outlook with PitchBook

In a recent PitchBook article examining the slowdown in dividend recapitalizations in 2026, Stephanie McCann discusses how a challenging exit environment could drive renewed activity in the months ahead. Dividend recapitalizations are down roughly 40% year-over-year, as private equity sponsors have generally prioritized financing for add-on acquisitions and lenders have become more selective in certain sectors.

With the M&A market remaining difficult and sponsors looking for alternative ways to generate liquidity for investors, Stephanie expects dividend recap activity to pick up following the summer.