Private equity’s comeback is missing one key ingredient

In the world of private equity, the mood is decidedly more upbeat. Despite tariff uncertainty and rising equity valuations, sponsors have managed to reel in some big fish, with the whale being the $55bn buyout of Electronic Arts. And with the listings window cracking open, even in stagnant Europe, there is hope that the sector may finally sell down part of the $3tn asset pile it has amassed. The latest data suggests an uptick is already under way. In Europe, sponsors sold some €90bn of assets in the third quarter says PitchBook. Globally, industry exits have grown to $871bn so far this year, which is already higher than the total achieved in 2022 and 2023, and, at the current rate, on track to beat 2024. READ MORE