Estimated reading time: 8 minutes The article in brief: European private markets stabilized during the second quarter of 2026, although investors have become more selective regarding sectors and credit profiles. Public credit spreads tightened from first-quarter levels, while financing conditions remained competitive for high-quality borrowers. Direct lending markets remain characterized by abundant dry powder and limited new issuance. Financing terms have remained favorable for stronger credits, while AI-exposed, cyclical, and lower-quality borrowers continue to face higher risk premiums and greater scrutiny. M&A...

Earnouts are often presented as a solution that can help get a deal across the finish line. If a buyer and seller disagree on valuation, an earnout can help bridge that gap by tying a portion of the purchase price to the future performance of the company post-closing. It’s a simple concept in theory. If the company performs as expected, the seller will receive additional payments. If the company does not meet the established metrics, the buyer pays less. However, in practice, earnouts can introduce a...

Following the publication of the “Digital Omnibus” on 19 November 2025, the political promise of easing regulatory burdens and moving towards simplification was initially welcomed by the market. However, nearly a year on, the effects have yet to be felt by stakeholders, and may be further contained now that both the European Parliament and the Council have taken positions on the text. In an urgent drive to relaunch the European economy, ease the regulatory burden on businesses, and compete with...

Key Tax and Business Information for 160 Countries in One Comprehensive Resource We are pleased to offer you complimentary access to our Worldwide Tax Guide 2026/27, providing you with key information about the tax regimes in 160 countries around the world. Over 270 local tax specialists from PKF member firms across the globe have contributed their knowledge and insight to this guide. Designed for clients who already conduct business globally or are now looking to expand, the guide gives you a first...

The deadline for European Union member states to implement new pay transparency rules was June 7, 2026, but not all of them have completed the process yet. Quick Hits To date, only five countries in the EU have fully implemented the rules outlined in the EU’s pay transparency directive. The remaining EU countries are working toward implementing the directive, but have not done so yet, although the deadline for implementation has passed. The deadline for member states to transpose EU Pay Transparency...