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PitchBook Analyst Note: 2022 US Private Equity Outlook

Q4 2021

PitchBook Analyst Note: 2022 US Private Equity Outlook

December 16, 2021

Analysts forecast a huge 2022 for U.S. private equity 

The big five US public alternatives managers’ AUMs will eclipse $3 trillion. Mega-funds, defined as vehicles over $5 billion, will collectively raise $250 billion in 2022, including three largest-ever buyout funds. And PE firms will close at least 400 middle-market software deals. 

These are just a few of the predictions presented by PitchBook analysts on the outlook for private equity in 2022. Our latest analyst note details seven projections in the U.S. private equity space for next year, including a big IPO year for private capital managers and new exit opportunities for PE-backed healthcare provider platforms. 

This report was reuploaded on December 17, 2021, to update a chart title on page 9.

Table of contents
Mega-funds will raise $250 billion in 2022, including the three largest-ever buyout funds. 2
The big five US public alternatives managers’ AUMs will eclipse $3 trillion in 2022. 4
Seeding firms will close at least six funds to back emerging managers. 5
More private capital managers will go public in 2022 than during any previous year. 6
At least 30 GP stakes deals will close, thereby setting a record. 7
PE firms will close at least 400 middle-market software deals. 8
At least 10 US PE-backed healthcare provider platforms will list publicly, breaking 2021’s record. 10