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Market Review - PE Environment Q3 2025

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The price volatility seen at the beginning of the year has subsided, giving buyers greater visibility and allowing the market to return to a more normal pace.
In the United States, large-cap activity was particularly buoyant, driven by several major transactions, a sign that confidence is returning to large-scale deals. In Europe, the market rebounded strongly after the slowdown in the spring, with a gradual return of buyers and a significant improvement in financing conditions.
The cycle is changing: visibility is returning, but selectivity is increasing.
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