Megafunds up, megadeals down in European private equity

At face value, European private equity appears to be in good shape. Despite soaring borrowing costs and tighter leverage conditions, new Pitchbook data underscored a near-record level of PE fundraising across continental Europe, the UK and Ireland. Nearly €120 billion (£1.3 billion) in capital was raised across 117 funds and while deal value was down 26.5% year on year, this at least made for a resilient year given prevailing macroeconomic conditions. Furthermore, deal value was still 10% to 20% higher than ...