Tracking the Momentum of Global Take-Private Deals

Private equity take-private activity surged in 2022, reaching a record USD 366.1 billion in deal value, driven by favourable market conditions and abundant capital. However, deal sizes have since contracted, despite a brief uptick in volume in 2023, signalling increased caution amid tight credit conditions and macroeconomic headwinds. The market, however, rebounded strongly post Q4 2024, with 58 deals in Q2 2025, the highest since 2022 and investment more than USD 50 billion each quarter, signalling renewed investor confidence. The shift from high-value mega-deals to more selective, smaller transactions reflect the evolving risk appetite of PE investors.