Global PE deal activity

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Global PE deal activity maintained a healthier tally in aggregate value even as counts dipped slightly from Q2 tallies, according to the most recent figures from PitchBook in its Global PE First Look. 2024 thus far has seen close to 14,000 PE transactions completed. Relative to many past years, the percentage of growth/expansion deal value was quite high, surpassing even the 13.7% logged in 2023 to hit 13.9% thus far in the year. Only 2020 saw a similarly high proportion. Much like the dealmaking environment during 2020, the climate for PE transactions may be somewhat more favorable to growth deals rather than outright buyouts now, given increases in the cost of capital and upticks in uncertainty across geopolitical and economic spheres. In addition, PE firms are likely angling to gain exposure to maturing tech companies that remained private even after the booms of the late 2010s and the late 2020-early 2022.