PE Pulse: key takeaways from 4Q 2023

In this episode, Pete Witte, EY Global Private Equity Lead Analyst, reviews PE deal activity, that continues to accelerate while visibility into interest rate trajectories and macro volatility begins to recede.
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PE Pulse is a quarterly report and corresponding podcast miniseries that provides analysis and insights on private equity market activity and trends.

Visit to view this quarter’s summary and infographic.  

PE remained resilient in 2023, as firms opportunistically deployed capital across a range of verticals, asset classes, and transaction types. 

Key takeaways:

  • Deals: Deal activity ended on a high note – Q4 was the most active by value since the downturn began about a year and a half ago.
  • Exits: We’re still waiting for momentum on the exits front. That’s important, because about 80% of PE’s fundraising comes from recycled distributions.
  • Consolidation: As the industry matures, we shouldn’t be surprised to see more of those.  
  • Private credit: 2023 was the year that private credit moved into mainstream.

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For your convenience, full text transcript of this podcast is also available. 


Episode 62


0h 8m 25s