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Private equity faces challenges, but buyouts and fundraising more resilient
Q1 2025 saw a mixed landscape for the UK economy and private markets, with some interesting shifts in valuations and sector performance. Despite a downgraded growth forecast from the IMF, the UK VC ecosystem remained resilient, particularly in the healthcare and finance sectors. Private equity, on the other hand, experienced a decline in activity, though large buyouts and strong fundraising efforts provided some optimism. The launch of the PISCES platform, scheduled for May 2025, is designed to boost liquidity for private companies, which will be key as global trade tensions weigh on exit markets. While it remains to be seen how much trading volume PISCES generates, the exchange could shape secondary markets in the UK.
Table of contents
| Market overview | 2 |
| Commentary | 3 |
| City comparison | 4 |
| Private markets | 5 |
| VC deal activity | 7 |
| VC exit activity | 9 |
| VC fundraising activity | 10 |
| PE deal activity | 11 |
| PE exit activity | 13 |
| PE fundraising activity | 14 |
| Corporate acquisition activity | 15 |
| Equity markets valuations | 16 |
