Global private equity dry powder has soared to an unprecedented $2.59 trillion in 2023 as a slow year in dealmaking closes with limited opportunities for firms to deploy capital raised in previous years.
The dry powder total as of Dec. 1 represented close to an 8% increase over the December 2022 total of $2.39 trillion, according to S&P Global Market Intelligence (SPGMI) and Preqin data.
Key highlights from the analysis include:
- Weak deal activity is reflected SPGMI data for the year to Nov. 30, when global private equity deal value showed a 35.6% decline compared to the same period in 2022.
- Just 25 private equity firms held 21.8% of the dry powder total year...
