State of Private Equity (PE) Report Europe 2024 Review (EY Swiss Fintech / Banking Barometer)
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EY Swiss Fintech / Banking BarometerSummary
- European private equity deal activity increased by 5% in 2024 to 1,424 transactions.p.7
- The technology and telecommunications (T&T) sector stabilized at 29% of total PE deals, while consumer represented 16%.p.8
- Median PE holding periods reached 5.7 years in 2024, representing a 21% increase compared to 2020.p.10
- PE exit activity in Europe rebounded by 13% to 674 transactions in 2024.p.10
- Secondary market transaction volumes reached a record $162 billion in 2024.p.10
- The UK and Ireland region experienced a 23% surge in deal activity, reaching 353 deals in 2024.p.7
Key insights
- Deal activity in Europe increased by 5% in 2024, representing the first annual increase since 2021.p.7
- The industrials sector was the only sector to see an absolute decline in deal volume, falling from 121 deals in 2023 to 112 in 2024.p.8
- Secondary exits surged by 32% year-over-year in 2024, reaching 214 transactions.p.10
- European PE IPO exits rose by 67% to 10 listings in 2024, but total IPO volume remained well below pre-COVID-19 levels.p.10
- Galderma went public at approximately CHF14.5 billion in one of the largest PE-backed IPOs of the year.p.11
- The UK recorded 14 take-private transactions in 2024, driven by low market valuations and available debt financing.p.26
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