Mergermarket&德杰律师事务所：2026年全球私募股权展望报告：回暖迹象初现（英文版）

PE dealmakers faced a challenging macroeconomic backdrop in 2025, but despite tariff volatility and geopolitical uncertainty,

buyout value has made double-digit gains year-on-year. Global buyout deal value totaled US$965.8 billion for Q1–Q3

2025, a 30% increase on the US$742.3 billion secured during the first three quarters of 2024. However, buyout dealmaking felt the effects of U.S. Liberation Day tariff announcements at the beginning of April. PE managers retrenched in the secon