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Women in Private Equity panel summary
Across the private equity ecosystem, women continue to be underrepresented. According to the latest diversity report form the British Private Equity and Venture Capital Association, women make up just 27% of UK investment professionals in 2025, and just 15% at senior levels1.
On October 20, Alvarez & Marsal's Private Equity Performance Improvement (PEPI) team hosted a panel and networking event in London to explore how women in PE are redefining leadership and presence within the industry. The discussion focused on lived experience – how women navigate visibility, influence, and authenticity in a legacy culture that is still evolving toward greater diversity.
More than 60 professionals from across the PE landscape attended, engaging in open conversation about finding confidence and voice in spaces that haven't always reflected women's experiences.
We heard from an inspiring panel of women who are defining presence and leadership on their own terms:
- Constance Gault, Principal at TowerBrook
- Julie Cormack, Chief People Officer at LGC
- Vivienne Machado, Partner and Practice Leader at ECB Star Group
- Ysabel Gaspar Zayco, Managing Director at A&M
The session was moderated by Bob Rajan, Managing Director and co-head of A&M's European PEPI practice.
Attendees shared honest reflections on navigating discomfort, claiming space, and building confidence. The conversation was candid and considered, highlighting both the persistence of long-standing dynamics, and the growing momentum for change – driven by authenticity, inclusive leadership, and resilience.
Key Takeaways:
Authenticity as an advantage:
Earlier in their careers, many women felt pressure to mirror their male peers. Today, they recognise authenticity as strength: true gravitas doesn't follow a single playbook - it can emerge through humour, directness, composure, or quiet authority. The power lies in leading in a way that feels genuine and sustainable.
Confidence through preparation and awareness:
Knowing your material, understanding your stakeholders, and anticipating challenges provides a foundation for credibility. The ability to read the room – to recognise when to lead and when to listen – is a critical dimension of influence.
Leadership that creates space for others:
The panellists described leadership as a catalyst for building diverse, high-performing teams that drive transformative results for clients, portfolio companies, and the broader private equity ecosystem. They emphasised the importance of cultivating environments where collaboration and constructive challenge thrive. As one panellist put it: "I'm only as successful as the team around me."
Footnote
1. Diversity, Equity & Inclusion
Originally published on 04 November, 2025
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