Untap’s Outlook for 2026: Building Operational Confidence in Private Capital

As private capital moves into 2026, the conversations we are having with investment, finance, and portfolio operations teams are changing. The focus is no longer on whether firms need better systems. That question has been answered. The real challenge is how to operate with confidence at scale.

From our vantage point working with private capital markets teams, 2026 is shaping up to be the year where operational discipline becomes a visible source of performance. The firms that stand out are not necessarily doing more. They are doing fewer things better, with clearer ownership, faster visibility, and far less friction.

This is Untap’s outlook for the year ahead, shaped by what we see across portfolios, reporting cycles, and day to day operations.

1. Operations are moving from support function to leadership function

In many firms, portfolio operations and finance teams have traditionally sat behind the scenes, focused on keeping reporting moving and answering ad hoc data requests. In 2026, that is changing.

Operations teams are increasingly expected to provide early insight, flag issues before they escalate, and support faster decision making across the investment lifecycle. This shift requires more than effort. It requires systems that give teams confidence in the numbers they are sharing and the narratives they are building.

What we see in practice is that confidence comes from three things: clarity of ownership, consistent definitions, and controlled workflows. Without those foundations, operational leadership becomes reactive rather than strategic.

2. Data quality is becoming more important than data volume

Most private capital firms are not short of data. They are short of trusted data.

Across portfolios, we still see teams collecting large volumes of information that cannot be easily compared, aggregated, or explained. The issue is not access. It is structure.

In 2026, the firms making the most progress are simplifying their data models. They are defining a core set of KPIs, standardising how those KPIs are submitted, and aligning them across funds and strategies. This creates a shared operational language that investment teams, finance teams, and portfolio leaders can rely on.

From Untap’s perspective, this shift from data accumulation to data clarity is one of the most important operational trends we expect to continue.

3. Reporting cycles are being redesigned around readiness, not deadlines

Quarter end remains a focal point, but the way firms prepare for it is changing.

Rather than assembling data and commentary in a compressed reporting window, more teams are spreading validation, review, and narrative development throughout the period. This approach reduces pressure, improves accuracy, and makes reporting more useful internally, not just externally.

What we consistently see is that when data collection and approval workflows are embedded into day to day operations, reporting becomes an output rather than a project. In 2026, this model of continuous readiness will separate resilient teams from overstretched ones.

4. Value creation tracking is becoming operational, not aspirational

Value creation plans are now standard across private capital. The operational challenge is not defining initiatives, but tracking progress in a way that is consistent, visible, and credible.

In 2026, we expect more firms to operationalise value creation by linking initiatives directly to measurable KPIs and embedding that tracking into their core reporting processes. This creates alignment between what is planned, what is executed, and what is communicated.

From our work with clients, the key shift is moving value creation out of static presentations and into living operational frameworks that update as the portfolio evolves.

5. ESG is being absorbed into core portfolio operations

Rather than treating ESG as a parallel process, more firms are embedding ESG metrics into the same systems used for financial and operational performance.

This reflects a broader operational maturity. When ESG data follows the same standards of ownership, validation, and consistency as other KPIs, it becomes easier to maintain and more useful for decision making.

In 2026, we expect this integration to continue, reducing duplication and improving the overall quality of portfolio insight.

Conclusion

Untap’s outlook for 2026 is shaped by a simple observation: operational confidence is becoming a competitive advantage.

Firms that can trust their data, understand their portfolios in near real time, and communicate clearly across teams will be better positioned to move quickly, manage complexity, and build credibility with stakeholders. This confidence does not come from working harder at quarter end. It comes from investing in operational foundations that scale.

How Untap supports this shift

Untap is designed to help private capital firms operate with greater confidence at scale. By structuring how data is collected, owned, and validated, it reduces manual effort while improving speed and reliability. Standardised KPI libraries and templates create consistency across portfolios, funds, and strategies, while financial performance, value creation initiatives, and ESG metrics sit within a single operational environment. The result is a reporting model that moves from periodic firefighting to continuous readiness, allowing teams to focus on insight, decision making, and execution rather than administration.