Q1 2024
April 9, 2024
PE’s share of M&A activity continues to slide
Recent improvements in liquidity and economic conditions herald a potential rebound in M&A activity this year. However, whether the PE industry will participate in the upside of a broader M&A recovery and break its exits logjam remains to be seen, according to PitchBook’s Q1 2024 US PE Breakdown.
In 2023, PE’s share of M&A deal volume dropped to 39.9% from 44.0% in 2022, reversing a trend of eight years with a growing share, and that slide has continued in the new year.
The report, sponsored by Alter Domus and Azurite Consulting, breaks down deal trends and offers insights on when PE dealmaking and exit activity will spring to life.
Executive summary: Two and done? | 4 |
Deals | 6 |
A word from Alter Domus | 14 |
Deal valuation metrics | 16 |
Deal financing metrics | 17 |
Deals by size, backing type, and sector | 18 |
Spotlight: Surfing Turbulent Cash Flow Waves | 19 |
Exits | 21 |
Fundraising | 28 |
Performance | 32 |