Private equity has long been known for its quiet culture, where discretion and privacy have traditionally been prized above all else, particularly when it comes to making headlines. Fast forward to today, the game has changed and silence is no longer a viable strategy for private funds, writes Lara Hunt in Brackendale's latest "PR Corner" for The Line.
Two decades ago, private equity firms tended to take a more reactive stance, only appearing in the press to announce a deal or a new fund. At the time, this made more sense. The industry was still relatively young, and its air of mystique reinforced the belief that speaking only when absolutely necessary was the safest strategy, shielding firms from what they saw as potential misinterpretation or unwanted scrutiny.
For many, this approach acted as a form of risk management. Negative coverage or misplaced commentary was seen as a threat best avoided, and as remains true today, relationships with LPs were central to everything. Opening up to the media felt like an unnecessary risk with little visible upside, especially in an era when the industry operated comfortably behind closed doors.
For a while, this mindset worked. The media was not especially focused on private equity, and buoyant markets masked most reputational risks. Yet in today’s world of instant headlines, social media amplification and increasing regulatory focus, remaining under the radar is no longer an effective approach.
Specialist outlets including Private Equity International and Private Equity News, along with a wave of newer digital platforms like PitchBook and With Intelligence, have placed the industry under a brighter spotlight. Every day brings profile pieces, portfolio updates and opinion columns that collectively shape the narrative around private markets. With this shift has come heightened curiosity and scrutiny, and with it a growing expectation for transparency. LPs now look for visible leadership and clear perspectives from the managers they back, meaning the mystique that once protected firms no longer serves them in the same way.
THE VALUE OF VISIBILITY
Firms that offer genuine insight rather than promotion, are increasingly viewed as thought leaders. This kind of visibility helps position houses in front of LPs, investors and peers through credible third-party coverage, which over time builds familiarity and trust. Two decades ago, firms may have been able to get away with staying quiet, but today the stakes are far higher. With LPs allocating larger tickets to fewer funds and favouring established names, managers need to do more to get their faces out there and stay visible in an environment that values openness, clarity and consistency.
Thoughtful media engagement takes many forms. It might involve sharing perspectives on market dynamics, commenting on broader economic trends or highlighting positive portfolio developments, but the underlying principle is the same. Consistency over time helps build trust and reinforce credibility, ultimately strengthening the firm’s reputation and resilience when challenges arise.
If the traditional view was that media engagement created risk, the reality today is quite the opposite. In an environment where transparency is expected, those who take part in the conversation gain control over their own narrative. The goodwill and trust built through proactive communication can also serve as a buffer in more difficult moments, softening the impact of negative press and enabling firms to manage their reputation from a position of strength.
Remaining reactive, on the other hand, often leaves firms on the back foot when challenges arise. Problems at portfolio level, whether operational issues, governance concerns or periods of underperformance, can quickly gain attention. The same goes for internal matters such as senior team departures, slower fundraising or valuation pressures. Without established media relationships or a communications foundation in place, it becomes far more difficult to manage a story once it has broken. Those who have already built credibility and trust find it much easier to navigate these situations calmly and effectively.
Being proactive does not mean oversharing or abandoning discretion, it is about striking the right balance between visibility and restraint. The strongest firms use consistent messaging to build confidence both internally and externally, so that when the spotlight inevitably turns their way, they already have a well-defined voice that speaks for them.
Ultimately, deliberate communication is less about seeking attention and more about preparedness. It lays the foundation for long-term credibility and resilience, allowing firms to be part of the conversation rather than simply reacting to it.
Silence may once have been seen as a safe strategy, but in today’s market it carries more risk than reward. As scrutiny and curiosity around private markets continue to grow, the firms that stand out will be those confident enough to share their perspective and shape the dialogue on their own terms.
By Lara Hunt, PR & Marketing Senior Associate
