Private equity firms are holding on to their assets for far longer than they have previously done, hoping for a better market environment and higher prices – but impatient backers are clamouring for returns, with plenty of bankers hoping this will be the year for dealmaking.

Quadrant Private Equity, one of the biggest local firms, has held on to Rockpool Bar & Grill and its owner, Hunter St. Hospitality, for almost a decade. Partners Group, a Swiss outfit, has held Guardian Childcare for the same amount of time.