---
title: "PE’s Evolving Playbook: How Competition Changed Buyer Behavior"
url: https://burnaze.com/article/da5e71f3-6451-4c18-8c98-15a22614ba51
source: "Middle Market Growth"
original_url: https://middlemarketgrowth.org/podcast-cla-pe-evolving-playbook-competition-buyer-behavior/
author: "Carolyn Vallejo"
category: "Finance"
topics: ["Finance & M&A"]
published: 2026-05-22T13:00:37.000Z
modified: 2026-05-26T16:45:15.457Z
image: https://middlemarketgrowth.org/wp-content/uploads/2026/05/MMC_Website_1460x630-3.jpg
---

# PE’s Evolving Playbook: How Competition Changed Buyer Behavior

**TL;DR:** Private equity firms are adapting to a more competitive market by changing their strategies to create value. Adrian Nohr, principal with CLA, discusses the shifting market dynamics and their impact on buyer behavior.

*By Carolyn Vallejo, originally published in Middle Market Growth on 2026-05-22. [Read the original](https://middlemarketgrowth.org/podcast-cla-pe-evolving-playbook-competition-buyer-behavior/).*

## Story

Since 2020, private equity has seen high highs and low lows, and in a more competitive and condensed market, firms are having to pull different levers to see value. Adrian Nohr, principal with CLA, joins the podcast to share her perspective on how shifting market dynamics are influencing buyer behavior, discuss how dealmakers are navigating valuation gap, and explore the latest considerations leading firms are evaluating to remain competitive. This episode is brought to you by CLA.

Learn more at claconnect.com . Middle Market Growth · PE’s Evolving Playbook: How Competition Changed Buyer Behavior The Middle Market Growth podcast is produced by the Association for Corporate Growth.

## Entities

- private equity (topic)
- Finance (sector)
- Middle Market Growth (publication)
- Carolyn Vallejo (person)
- Association for Corporate Growth (company)
- market dynamics (topic)
- buyer behavior (topic)
- valuation gap (topic)
- CLA (investor)
- Adrian Nohr (person)

---
Originally reported by Carolyn Vallejo, Middle Market Growth (https://middlemarketgrowth.org/podcast-cla-pe-evolving-playbook-competition-buyer-behavior/). Summarized by Burnaze (https://burnaze.com/article/da5e71f3-6451-4c18-8c98-15a22614ba51).