ANALYSIS: Private Equity Can Slow Down, But It Can’t Stop

Even in the face of economic difficulties and market challenges this year, private equity cycles forward. Buyouts have slowed to a trickle, exits have been harder, and, for many in the industry, fundraising has been more challenging. But the PE wheel keeps spinning, and will continue to do so in 2023—in part with the help of the over $1 trillion in unspent capital the industry has available to invest.

A Much Slower Year

Along with the broader M&A market, private equity deal activity, including on the venture capital side, has slowed considerably during 2022. Private equity controlling-stake M&A ...