How can dealmakers leverage the insights from 2024 to better navigate the complexities of future private equity transactions?

Our 2025 report provides a clear overview of the key trends and changes in dealmaking in the private equity space over the past year. It explores how economic shifts, new laws and global events, such as significant elections in over 50 countries, have impacted deals across different sectors and regions.

It covers important topics such as the types of deals being made, how debt and equity financing are evolving, acquisition terms, and the use of warranty and indemnity insurance.

• Deal Landscape – Significant elections in more than 50 countries impacted dealmaking in H1, while stabilising inflation and falling interest rates sparked a recovery in deal volumes in H2.
• Debt Finance – A varied approach to cutting interest rates by US Federal Reserve, European Central Bank and the Bank of England had a limited impact on leverage multiples.
• Acquisition Deal Terms – Continued popularity of earn-out and deferred consideration mechanisms as a means of bridging valuation gaps between buyers and sellers.
• Equity Deal Terms – Investors remain bullish on rollover clawback with rolled equity commonly subject to leaver provisions.
• Warranty & Indemnities – Insurer appetite for emerging jurisdictions, such as the Middle East and South America, continues to grow at pace.
• Tax – Changes to Capital Gains Tax rates and Business Asset Disposal Relief rates following the UK Autumn Budget may incentivise management teams to complete deals before 6 April 2025.

Offering insights into the current state of dealmaking for private equity firms and what to expect in the future, this report helps professionals in this space make informed decisions.

Access the report