Small deals under $50 million made up over half of deal volume in the US private equity market last quarter, while exits such as corporate acquisitions and IPOs increased from the previous quarter. Although fundraising was down from previous years, record levels of dry powder remain with $400 billion available for US-focused funds raised by US investors.

1. Deal Activity
Headed in the
Right Direction

2. Activity Stays Steady as Reported Amount Jumps
Quarterly US Private Equity Deal Activity and Capital Invested (Billions)

3. Small Deals Dominate Volume
Over 50% of the Volume is Deals Valued Under $50M

4. Exits Up, IPOs Reemerge in 4Q
Quarterly PE Exits by Corporate Acquisition, IPO and Secondary Sale
Percentage of capital invested by industry

5. Buyouts Using Less Equity
Average Percentage of Equity Used in Deal is on the Decline

6. Plenty of PE
Dollars Still
Available

7. PE Fundraising Down But Not Out
Number of Funds Closed and Total Capital Raised by Year
*does not include Venture Capital

8. Record Levels of Dry Powder; $400B
Capital Overhang for US‐Focused Funds Raised by US Investors