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Q1 2023
European PE Breakdown
April 19, 2023
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European private equity market powers on with adjusted ambitions
The gloomy financial landscape has finally caught up with European private equity, shown by an over 8% decline in deal value in the first quarter compared to the same period last year.
Our Q1 2023 European PE Breakdown reveals deal volume has been relatively steadfast, however. As rising interest rates make large leveraged deals harder to finance, there is still an appetite for smaller companies trading at attractive prices.
Key takeaways:
Table of contents
European private equity market powers on with adjusted ambitions
The gloomy financial landscape has finally caught up with European private equity, shown by an over 8% decline in deal value in the first quarter compared to the same period last year.
Our Q1 2023 European PE Breakdown reveals deal volume has been relatively steadfast, however. As rising interest rates make large leveraged deals harder to finance, there is still an appetite for smaller companies trading at attractive prices.
Key takeaways:
- Buyout multiples are at their lowest level since the 2008 global financial crisis, leading to firms holding on to their assets longer, hoping for a recovery.
- Fundraising reached €26.4 billion in Q1, suggesting this year may outpace 2022.
Table of contents
| Introduction | 3 |
| Deals | 4 |
| Spotlight: Exploring European buyout multiples | 8 |
| Exits | 10 |
| Fundraising | 14 |