1Q 2024 review – Momentum builds for PE market uptick

With “cautious optimism” the prevailing sentiment for the start 2024, the Mergermarket private equity (PE) reporting team takes stock of our 1Q 2024 European private equity data, providing insights into how this year could shape up for deal activity, exits and fundraising.

2024 started off more strongly than 2023 in terms of private equity activity, with deal count up by 21% and disclosed deal volume more than doubling versus Q1 2023. Activity has dropped since Q4 2023, however, with deal count down by 6% and disclosed deal volume by 72%.

Although a number of successful exits were announced in the past quarter, PE firms made 13% fewer exits in Q1 2024 versus Q1 2023, marking the worst quarter for exits since the start of the COVID-19 pandemic.

This episode begins with an overview of Mergermarket PE buyout, exit and fundraising data, highlighting the top sectors and geographies.

With the PE industry is preparing for an uptick in activity over the course of the coming year, the Mergermarket team explores the current macro picture, deals to watch out for this year, and changes to deal structuring that GPs are pursuing to get deals done, including minority stake sales and equity syndication.

Data overview: PE deal activity, exits and fundraising – 0:42

The macro picture and the road ahead – 4:26

The outlook for PE exits – 7:54

Processes to look out for – 10:10

The rise of deal-by-deal fundraising – 11:44

Changes to deal structuring – 14:26

Going back to exits – 17:00

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