Australia Private Equity Quarterly Update  

Private Equity activity in Australia showed a marked improvement in Q3, with deal volume increasing by 50% year-on-year, however the deal value declined due to the absence of mega deals. 

In brief

• Australia’s PE market has witnessed a renewed momentum in Q3 2025, and the outlook remains constructive despite persistent global headwinds.
• The combination of stabilizing interest rates, rising international investor participation, healthy deal activity, and strong relative returns underscores the market’s resilience. 

Private equity (PE) activity in Australia showed a marked improvement in Q3 2025 compared to recent quarters. Deal volume increased by 50% year-on-year, however the deal value declined by 17% due to the absence of mega deals.

In Q3 2025, there were a total of 24 deals deploying over US$8.5b in capital. The uptick was supported by the highest deal volume since 2022 and the presence of seven large-ticket investments (valued above US$500m), contributing approximately 80% of total deal value during the quarter. Encouragingly, deal volume remained well above pre-pandemic levels, suggesting that the regional market maintained structural depth even as the zero-rate era ended.