2022 Annual US PE Breakdown

2022 Annual US PE Breakdown

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US PE found ways to adapt to 2022’s harsher environment

For all the headwinds that hit the private equity world in 2022, firms still managed to do over $1 trillion in deal value—down 18% from 2021. Early in the year, the record-breaking pace of new deals, exits and fundraising collided with higher interest rates. By mid-year, traditional debt markets closed, and PE firms had to adjust to make deals happen and keep the LBO machine humming.

Our 2022 Annual US PE Breakdown, sponsored by Stout, CBIZ Private Equity Advisory, Golub Capital, and Apex Group, explains how the industry adapted.

Key takeaways:

  • The PE market remained resilient in large part due to availability of debt from private credit funds.
  • Deals count was stable: The number of deals fell only 5% year-on-year, but deal sizes were smaller adding up to less value overall. 
  • Exits plummeted: For just the second time in 14 years, exit deal value failed to keep up with fundraising and new platform investments.
  • Dry powder found a home: The new year capped the best two-year run for PE take-privates in 15 years.
Table of contents

Executive summary: A year of transition 4
A word from Stout 6
Deals 8
A word from CBIZ 14
Deal valuation and debt metrics 21
Deals by size and sector 22
Spotlight: Quantitative Perspectives: When the Tide Goes Out 24
A word from Apex Group 26
Exits 28
Fundraising and performance 35

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