The Private Equity Midyear Report 2023 describes an industry stuck by stalled dealmaking and delayed exits, which disrupted the normal flow of capital and strained liquidity. Higher interest rates, valuation gaps, and cautious buyers slowed both acquisitions and realizations, jamming the private equity capital flywheel. With fewer exits, firms faced pressure to support portfolio companies longer and manage capital more carefully. The report highlights a shift in focus toward liquidity management, operational improvements, and creative exit strategies. Rather than relying on new deals, firms emphasized resilience, disciplined portfolio management, and patience while waiting for market conditions to improve.

Join for free to read