As forecasts for deal activity remain tentative, hanging in the balance due to a number of variables, certain factors characterise the PE landscape of today: A flight to quality assets; fierce competition for the same; persistently high though ever-so-slightly narrowing bid-ask gaps; and growing pressure to deploy, divest or distribute capital. Firms need to find differentiation, and more rigorous ways to evaluate a riskier class of assets. This report digs deeper into these strategies.