Download PitchBook’s Report here.
A quarter in 2024, PitchBook data shows that buyout multiples remain elevated. The trailing 12-month mark for EV/EBITDA multiples in Europe and North America stands at 11.9x, relative to 14.1x for the first quarter of 2024. It should be noted that 14.1x is surprisingly high given the volatile mix of market factors currently in play, which then prompts a caveat around the population size of said multiples being only 39. That said, for that select mix of buyouts, PE firms are clearly willing to pay up for the right targets, suggesting a combination of pressure to deploy capital, elevated dry powder, ameliorating market conditions in bringing companies to market, and ongoing positive economic data in key regions are all combining to encourage significant multiples in closing deals.
(Past performance is no guarantee of future results.)
Latest news
Q2'26 BDC analysis shows additional 184 bps of nonaccruals at cost
In a universe of 173 business development companies, or BDCs, Octus identified a total of $9.5 billion of debt (at cost) in nonaccrual status reported in the second quarter of 2026, a slight decline of 5% from $10 billion in the first quarter of 2026.
Reading the Board
The story changes depending on which numbers you’re counting.
Private Credit Defaults 101: Different Numbers, Different Stories
In Season 2 of Billions, Bobby Axelrod takes his lawyer Orrin Bach to an empty Yonkers racetrack in the dead of night.