Inflation and higher interest rates are not the best combination for private equity investments. Despite this, the local sector led by Liliana Reyes, CEO of the Mexican Private Equity Association (AMEXCAP), achieved its second-best year in terms of investment in 2022, only surpassed by 2021. Reyes has brokered relevant partnerships with important players in the private equity industry, mainly connected to the innovation and entrepreneurship sectors, as well as at the government level. However, the outlook for 2023 looks challenging due to the capital needs that the nearshoring trend in Mexico will require.