Times are more uncertain than they have been in years, and dealmakers are responding appropriately. Across the European private equity landscape, deal volume plunged to the lowest level since the middle of 2013, as the ripple effects of the COVID-19 pandemic proliferated across multiple nations. Sellers pressed pause on plans to offload portfolio companies; lenders focused on existing loans; and dealmakers assessed how to best revise their strategies. However, things could turn around faster than some anticipate, and moreover, many remained opportunistic. Capital raised is expected to significantly increase in H2 2020, according to our research analysts, due to a number of open mega-funds in the market that are still working through allocation targets with prospective limited partners. The latest edition of our PitchBook European PE Breakdown reviews all these trends and more, grounding them in a plethora of relevant PitchBook datasets.