In mid‑2022, EY commissioned a survey of 112 PE firms representing nearly $2.8 trillion of assets under management (AUM), 114 hedge funds with more than $1.7 trillion AUM and 61 institutional investors with approximately $1.3 trillion AUM. At the same time, another industry-wide survey was conducted by Mergermarket on behalf of Dechert that questioned 100 senior executives at established PE firms with at least $1 billion AUM. It is helpful to consider the surveys in parallel to ascertain greater certainty where the results overlap, identify valuable nuances where they differ and to use their combined results to paint a broader picture of the state of the PE industry. This article summarizes key takeaways from both reports on relevant topics such as fund manager strategic transactions; talent management efforts; environmental, social and governance issues; and trends in fund strategies. For coverage of previous Dechert/Mergermarket and EY surveys, see “Key Investor, Regulatory and Industry Trends Identified in Dechert and Mergermarket’s 2022 Global PE Outlook” (Dec. 7, 2021); and “Notable Takeaways From the EY 2021 Global PE Survey” (Mar. 30, 2021).