JPMorgan’s M&A chief sees softer 2027–but a potential upside surprise in private equity exits
Source: Fortune ·
By the second half of 2027, some private equity firms may have to stop waiting for a better time to sell, JPMorgan’s global head of M&A says.
From the source
Morgan Chittum here. Private equity firms have spent years waiting for a better time to sell. By the second half of 2027, some may have to stop waiting. That’s the view of Charlie Bouckaert, JPMorgan’s global head of M&A. He expects sponsors to start moving towards liquidity—not because he sees a dealmaking boom ahead, but because they’re running out of reasons to put it off. Their holdings are getting older, refinancing deadlines are approaching, and investors want their money back. “Ultimately, the private equity business model is reliant on exiting and returning capital to LPs,” Bouckaert told me. “And so that’s going to have to happen.” After all, backlogs are massive and growing. Private equity inventory of unsold investments hit 33,853 as of Sept. 30, 2026, up from 33,575 at the end of June, according to PitchBook figures reported by the Wall Street Journal. At the current pace of exits, PitchBook estimates it would take more than eight years to clear that inventory. This is,…
BestAIBroker analysis
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- Event classification: M&A.
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- Symbols referenced: JPM.