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Southeast Asia Private Equity Pulse 2025: year in review
Private equity deal value in Southeast Asia moderated sharply in 2025, reflecting a more cautious investment environment.
Private equity (PE) deal value in Southeast Asia (SEA) moderated sharply in 2025, reflecting a more cautious investment environment. Total PE deal value declined 43% year on year (yoy), while deal volumes fell a more modest 12%, indicating sustained deal flow but less megadeals.
While the year began with a robust Q1, geopolitical volatility, specifically concerns surrounding US tariffs, triggered a cautious Q2. Q3 emerged as the most active deployment period, signaling a pivot toward larger, more selective transactions as valuations stabilized and financing conditions improved. Total capital deployment reached US$9.1b across 59 deals. The market saw only four megadeals (above US$1b) in 2025, compared with eight in the previous year. Average deal size dipped from US$356m in 2024 to US$267m in 2025, reflecting a more disciplined, mid-market focus among general partners (GPs).
Read past issues of our quarterly Private Equity Pulse here.