Private Equity Edition
SEQH Capital Partners Research
Private Equity Update – Q3 2025
Advanced Analytics for the Discerning PE Professional & Strategic Investor
Executive Summary – What You Need to Know Now
Deal Value Surged 50 % YoY in H1 2025 even as count slid 6 %; megadeals ($1 Bn+) now 37 % of disclosed-value volume, up from 20 % in 2020.
Exit value jumped 77 % vs H1 2024 on strategic-buyer appetite and three high-profile IPO filings in June alone .
Fundraising remains the #1 GP concern; US PE closed only $223 Bn through June (−20 % annualized) while growth-equity buckets grew 14 %
Performance: 10-yr US PE index +15.25 % net vs +12.06 % Russell 3000 PME (≈219 bp annual alpha).
Dry-powder overhang still >$1 Tn; funds extending hold periods via continuation vehicles & NAV loans as rates stay >4 %.
AI infrastructure, healthcare platforms and “tech-enabled” services attract the highest entry-multiple premiums (11-14× forward EBITDA) but also the fastest EBITDA-growth cohort (>20 % CAGR).
Use this Update to (i) recalibrate portfolio NAV marks, (ii) sharpen sector-weighting calls for 2026-27 vintages, and (iii) optimize exit timing vs secondary/continuation alternatives.
