Private equity transactions in accounting are evolving quickly. What began as a relatively new source of capital for a handful of firms has become a more sophisticated market with changing deal structures, different investor expectations, and new questions around governance, leadership control, compensation, and exit strategies. This panel will explore how PE deals are being structured today, what firms should understand about recapitalizations and future liquidity events, and how the role of investors is changing as the profession moves deeper into its PE era.