Deal Flow Monitor: Outlook 2025

Private capital deal-making is still below the five-year average, but investors are optimistic for a recovery in 2025

2024’s private equity deal market was larger than the previous year, driven primarily by take-private transactions
Software, particularly AI, is expected to remain a key driver of deal flow in both private equity and venture capital
New US policy is likely to reshape trade dynamics, potentially supporting US industrial deal-making