In 2024, the negative trend of private equity buyout investments and exits reversed as the value of transactions increased more than the number of closed deals. However, fundraising still lagged behind, Bain & Company Global Private Equity Report 2025 says (see here the press release). At the end of June 2024, the buyout firms’ assets under management were worth 4.7 trillion US Dollars (4.8 trillion and the end of 2023), with an annual median growth of 11% in the last 20 years. The report also points out that the funds have still available 1.2 trillion dry powder (1.3 trillion at the end of 2023) while the share of capital that the firms raised earlier in time rose to 24% of the total (20% in 2022).
The buyout funds and all private asset classes faced a decline of new inflows for three consecutive years as global fundraising amounted to 2024 at 1.1 trillion (-24% from 2023 and -40% from the historical peak of 1.8 trillion 2021) spread across 3000 new closed-end funds (-28%). Infrastructure investors, with stable inflows at 89 billion, and direct lending vehicles, with a 3% increase to 123 billion bucked the trend. Buyout funds accounted for more than one-third of total inflows (38%), but raised only 401 billion, which is – 23% from 2023 and about – 11% compared to the average of the past 5 years.
In 2024, buyout plaers investments amounted to 602 billion (+37% since 2023). Such a figure doesn’t include the above 3000 add-ons (+10%). Since 77% of the transactions have been worth one billion and above, the median deals size amounted to 849 million (744 million in 2023) which is close to the 903 million peak of 2021. In Western Europe, the value of buyout deals in 2024 increased by 54%, as also PitchBook said in 2024 Annual European Private Equity Breakdown. The item said that 2024 European private equity investments amounted to 594.8 billion, + 35.4% from 439.3 billion in 2023, while the total number of transactions increased to 8264 (+18.2% from 6990 in 2023) (see here a previous post by BeBeez)
In 2024, buyout funds carried one 1470 divestures (+22% from 2023) worth in aggregate 468 billion (+34%).
