U.S. private equity deal value was down 14.1% in Q3, PitchBook says
Source: Fortune ·
U.S. private equity—with more than $3 trillion in assets under management—has been locked in a cycle of geopolitical uncertainty and possible rate hikes.
From the source
Private equity has been in a low-grade slowdown for years, locked in a Groundhog Day loop. “You hear it every year now,” said Kyle Walters, PitchBook analyst. “You heard it in 2023, where private equity said: ‘It could come back this year.’ Then, you get to 2024, and 2024 is going to be a different year. Then, you get to 2025 and 2025 was a bit better, and people say ‘maybe this is the year.’” U.S. private equity—with more than $3 trillion in assets under management—has been locked in a cycle of geopolitical uncertainty and possible rate hikes, along with the challenges of a rapidly concentrating market with limited exits. This was true in Q3 2026: Exit value for the quarter was down 14.1% year-over-year and deal value was down 13.6% year-over-year, according to PitchBook data. “AUM for the asset class isn’t growing nearly like it used to,” said Walters. “A 12% annual growth rate over the last ten, 15 years. We’re closer to half that now… This is the new norm, putting capital to work…