Emerging managers are increasingly competing for talent alongside established firms, particularly as many top candidates prefer larger funds. According to the Buyouts Emerging Manager Survey, these managers are successfully attracting talent, with 29% now employing 11 or more investment professionals, a significant rise from the previous year, especially among junior roles. However, experienced professionals in senior positions remain difficult to recruit. To address this, emerging managers are enhancing their talent development, offering fellowship programs and redefining associate roles to foster growth. Despite the competitive landscape, they are focused on cultivating their own talent to build strong teams.