Private Equity Buyouts Report: Q1 2023

Private Equity Buyouts Report: Q1 2023

Buyout deal activity remains resilient although deal sizes continue to shrink.

Key Findings

Resilient Deal Activity: Private equity buyers showed signs of life in Q1 2023, as global buyout activity was up +29% QoQ, but still down -23% YoY. Funds are sitting on >$3 trillion in dry powder.

Smaller Buyout Deal Sizes: The average buyout size continues to decline, falling to $90 million in the first three months of the year, down from $133 million in Q1 2022 and $166 million in Q1 2021.

Take-Privates in Focus: The ten-largest buyout deals in Q1 2023 were all take-privates, as private equity funds scoop up companies whose valuations have been hit hard in public markets.

Funds Circle Technology Sector: Technology led private equity activity globally in Q1, accounting for 40% of buyout deals, and 48% of buyout dollars. Real estate and defense saw the least deal activity.

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