US PE Breakdown

Software freezes and energy powers on as US PE deal value falls 38% in Q2 2026

The Q2 2026 US PE Breakdown presents a data-driven overview of the key trends defining the US private equity landscape.

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Q2 2026 FIRST LOOK DASHBOARDS

Our exclusive data shows a PE dealmaking slowdown in the US and Asia-Pacific, as heightened volatility dampened the industry’s mood in Q2. For VC, global data shows strain as broad liquidity remains a challenge. See all the details in our newly released Global VC First Look Dashboard and Global PE First Look Dashboard. PitchBook clients can access the complete, extensive data packs via the Research Center in the PitchBook Platform.

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LATE-STAGE COMPANY RESEARCH

The First Public Price for Frontier AI

SpaceX’s latest valuation sets a market benchmark for frontier AI. We derive what it implies for the two pure-play AI labs now in IPO registration and map the key catalysts.

SpaceX Update: What the IPO Reveals and What to Watch For Next

This analyst note concludes the SpaceX private-company series by evaluating the post-IPO valuation, introducing a management credibility ledger, and outlining key catalysts for the stock’s first 18 months.

Global Unicorn Tracker

The Q1 2026 Global Unicorn Tracker provides a comprehensive analysis of VC-backed companies valued at $1 billion or more, covering deal activity, valuations, exits, and the PitchBook Business Quality framework and offering perspective on the biggest trends shaping the unicorn landscape.
TRENDSPOTTING

Median real estate IRRs have been declining since the global financial crisis rebound, with successive vintages getting worse from the mid-2010s to 2022.

See more: Q3 2025 PitchBook Benchmarks with preliminary Q4 2025 data

DASHBOARDS & TOOLS
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Europe

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