IN FOCUS6-8 min read
Schroders Capital Private Equity Lens Q4 2025
Headline fundraising, deal and exit values regained some momentum in the third quarter, but underlying activity continues to be constrained and cyclical tailwinds for small and mid-market buyouts remain. Meanwhile secondaries are on track for new annual records.
Lees volledig rapportSchroders Capital Private Equity Lens Q4 2025
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The Schroders Capital Private Equity Lens provides a data-driven guide to the global private equity market each quarter, covering fundraising, deal and exit activity, and valuation and performance trends across buyouts, growth and venture capital, and global secondaries.
Key takeaways from the Q4 2025 Private Equity Lens are:
- Fundraising was steady in Q3 2025, while the number of final closes fell once again. LP selectivity persists amid slow distributions.
- Deal value rebounded thanks to a number of larger tickets and transactions, as financing improved and AI mega-rounds in venture returned. However, overall underlying deal count remained muted.
- Similarly exit value increased while the exit count remained stable and slightly lower, with improving financing and strong AI/tech interest supporting an increased number of mega exits. Data shows small-mid buyout exit activity has been resilient across the cycle.
- Buyout entry multiples edged higher across the board, with small-mid buyouts still trading 40–50% below large-cap and public comparisons and therefore continuing to offer attractive entry points.
- Late-stage venture valuations eased from Q2 2025 but stayed well within 2021 levels on AI strength. Early-stage valuations also edged higher.
- Lower and more stable entry multiples have helped to drive small and mid-market buyout outperformance and these segments continue to lead long-term returns. Venture performance has begun to recover.
- Secondaries are set for record deal volume in 2025. Continuation investments are showing resilient, strong performance, with net TVPI higher than broader buyouts in every year since 2018.
Lees volledig rapportSchroders Capital Private Equity Lens Q4 2025
14 Pagina's
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