CFOs adjust to private equity’s growing influence

Core Insights - The increasing trend of private equity (PE) ownership across various industries, particularly in accounting, is notable, with projections indicating that over half of the top 30 accounting firms could be under PE ownership by the end of 2025 [2][3]. Industry Trends - From 2020 to September 2025, there have been at least 90 private equity-related transactions and firm mergers in the accounting sector, with 52 occurring in 2025 alone, highlighting the rapid growth of PE influence [2]. - Private equity firms are estimated to own about 10% of all apartment stock in the United States, indicating that few industries are immune to PE's reach [3]. Company Dynamics - Companies often view PE investments as a means to increase capital access and facilitate growth, as seen in the case of Milwaukee-based accounting firm Wipfli, which announced a minority investment from New Mountain Capital to accelerate its growth [5]. - The tension between founders' long-term visions and private equity firms' goals of quick returns can create challenges in company direction and strategy [5]. CFO Strategies - CFOs are advised to build trusted relationships with new ownership to navigate the complexities of private equity situations effectively [7]. - The importance of storytelling and relationship management is emphasized for CFOs in private equity contexts, as they need to be more relationship savvy than in previous roles [8].