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Southeast Asia Quarterly Private Equity Update: Q3 2023
After a relatively quiet few quarters, the deal market is starting to find its footing. Corporates in Southeast Asia (SEA) continue to face headwinds, which is likely to spur M&A activity. Given the amount of dry powder in private equity (PE) hands, we expect PE activity to continue to gain momentum.
In Q3 2023, SEA saw a total of 18 deals deploying US$1.8b. There were five PE-backed exits, valued at US$1.3b. PE deal activity in Q3 2023 centered in the technology, consumer and infrastructure sectors, which together garnered approximately 40% of deal volume. In the upcoming period, we expect activity to be broader, with consumer, health care, education and business services being areas of focus.