Coming off a euphoric year for private equity in 2021, higher costs of debt—thanks to higher yields—necessitated a quality bias in deal selection. Private equity sponsors today lean toward covenant-lite private debt financing rather than burdensome and unmanageable leverage to adapt to higher-for-longer interest rates. New, creative financing solutions have helped improve margins, empower management teams, and strengthen market share. As we enter uncertain public-equity markets, what must fund managers do to ready their portfolios for strategic acquisitions? How might this differ from public market exits? What value-improvements should managers aim to deliver to improve earnings and justify prices? Experts on our panel can surely suggest some of the strategies to achieve these goals.