Pulse of Private Equity Q1 2026 (KPMG Private Enterprise)

Summary

• Global PE-announced four-quarter sums amounted to $2.1 trillion across 19,682 transactions.p.10
• Global PE deal volume fell, with just 4,168 deals in the quarter, dropping the rolling 12-month total from 21,026 to 19,682.p.11
• PE exits remained soft, with just 635 exits and exit value of $294 billion.p.3
• Public listing activity was slow, with just $37 billion raised across 31 deals.p.3
• The Americas saw $247 billion invested across 1,980 deals.p.30
• The EMA region saw $154 billion across 1,816 deals, and ASPAC $26 billion across 255 deals.p.11

Key insights

1. Global Infrastructure Partners and EQT completed the take private of AES for $41 billion, the largest deal of the quarter.p.11
2. The US accounted for $228 billion of Americas investment, while the rest of the region accounted for $19 billion.p.30
3. The median buyout deal size was $142 million compared to $110 million, a record high.p.12
4. The median M&A deal size was $100 million compared to $31 million.p.12
5. PE-backed listings reached $310.9 billion in exit value across 178 deals over the year.p.8
6. Americas IPO exit value surged from $48.2 billion across 26 exits to $134 billion across 38 exits.p.8
7. Americas exits totaled $168 billion, with acquisitions at $107 billion.p.31