In this file, you will discover:
An analysis of the global private equity landscape in the third quarter of 2025, marked by a resurgence in mergers and acquisitions and strategic divestitures.
In a macroeconomic landscape still fraught with uncertainty, the asset class has demonstrated strong resilience, posting a return of +3.4% in the second quarter of 2025—its best performance since 2021. Over the first nine months of the year, the total value of M&A deals backed by private equity funds reached $493 billion, up 31% year-over-year, with industrial buyers accounting for more than 60% of that total.
The document details the trends in major transactions, the recovery of initial public offerings, and the expansion of the secondary market.
In particular, the report presents:
- The performance of the U.S. market buyout, which rose 46% over nine months to reach $370 billion;
- European transactions rebounded in the third quarter to 40.3 billion euros, up 55% from the previous quarter;
- The discount of private equity relative to public markets, with an average multiple of 11.0x EBITDA for the LBO , compared with 16.2x for the S&P 500 Index;
- Global fundraising (384 billion dollars over nine months) has been concentrated among leading asset managers.
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