US PE activity was down in Q2 amid COVID-19

REPORT

This edition of the US PE Breakdown highlights the deals and trends in US PE activity in Q2 2020—the first full quarter in which global economies had to slog through the pandemic. Top takeaways include:

• The velocity of PE dealmaking further diminished in Q2 2020 as dealmakers felt the impact of COVID-19
• Exit activity in the quarter collapsed to a greater extent as PE firms marked down portfolio companies and chose to hold investments rather than sell
• PE fundraising momentum appears to have slowed from 2019’s record-setting pace, although it is likely to remain healthy

This edition also spotlights growth equity, which has become an established private market strategy of its own in recent decades.