Global PE First Look

PE is still waiting for a recovery

Exit activity is one metric that PE dealmakers are keeping a close watch on as they gauge how much the market has recovered from its lows. The acquisition of SRS Distribution in March—a roughly $18 billion PE exit—is undoubtedly a confidence booster. But a deep dive into deal data suggests that a rebound has yet to happen.

The value of global PE exits hit nearly $120 billion in Q1 2024, which is below the old normal prior to the 2021 frenzy. The Q1 2024 PE First Look data packs precede the release of our quarterly US and European PE Breakdown reports, digging into exit, dealmaking, and fundraising trends.