The interactive heat map below shows key metrics across private equity asset classes, regions, and deal sizes.
Select a region and asset class, and toggle deal size
All private equity (PE) (buyout, growth, and venture capital)
All private equity (PE) (buyout, growth, and venture capital)
Buyout
Growth
Growth
Venture capital
Venture capital
Global
Global
North America
North America
Europe
Europe
Asia
Asia
Deal size: All
Deal size: All
Deal size: All
Deal size: All
Deal size: >$500 million
Deal size: >$500 million
Deal size: >$500 million
Deal size: >$500 million
Negative for PE industry
Positive for PE industry
Macro environment
General partners (GPs)
Limited partners (LPs)
Metric
2019
2019
2019
2019
2019
2019
2019
2019
2020
2020
2020
2020
2020
2020
2020
2020
2021
2021
2021
2021
2021
2021
2021
2021
2022
2022
2022
2022
2022
2022
2022
2022
2023
2023
2023
2023
2023
2023
2023
2023
2024
2024
2024
2024
2024
2024
2024
2024
Interest rate (%)1, 2
2.2
0
3.3
3.3
2.2
0
2.2
2.2
0.4
0
0.4
3.0
3.0
0.4
0
0.4
3.0
0.1
0
3.0
0.1
0.1
0
0.1
2.8
1.7
0.6
1.7
2.8
1.7
0.6
1.7
2.6
5.0
3.8
5.0
5.0
2.6
3.8
5.0
2.3
5.1
4.1
4.1
5.1
2.3
5.1
5.1
Inflation rate (%)
2.0
3.4
2.0
3.5
2.0
3.4
2.0
3.5
1.4
3.2
1.2
1.4
3.3
3.2
1.2
3.3
4.7
3.0
3.6
3.0
4.7
4.7
3.6
4.7
7.9
6.3
10.0
6.3
10.0
8.6
7.9
8.6
4.2
6.3
4.9
4.9
6.3
6.7
4.2
6.7
3.1
3.1
4.4
4.4
3.5
3.5
5.8
5.8
Deal value (% year-over-year [YOY] growth)
0
6
9
13
6
–5
4
4
83
–19
–19
–27
–27
24
–32
–18
113
86
81
135
162
86
73
101
–22
–9
–25
–21
–3
–28
–25
–20
–1
–34
–26
8
–47
–34
–24
–23
–16
43
16
34
–39
23
26
16
Deal count (% YOY growth)
4
7
1
–6
0
5
10
5
0
–2
–32
31
–21
–25
–3
–2
68
45
59
83
81
82
58
57
–23
–31
–12
0
–26
–39
–10
–6
–9
–9
–6
–6
–11
–16
–14
–13
1
–4
–1
0
5
7
4
–1
PE-backed exit deal value (% YOY growth)3, 4
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
PE-backed exit deal count (% YOY growth)3, 4
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
Median buyout entry multiples (purchase price/EBITDA)5, 6
10.0×
–
–
–
–
–
–
10.0×
–
11.2×
–
–
–
–
–
11.2×
–
–
–
11.8×
–
–
–
11.8×
12.0×
–
–
–
–
–
–
12.0×
–
–
11.2×
–
–
–
–
11.2×
–
–
–
–
–
11.9×
–
11.9×
Fundraising of close-end commingled funds (% YOY growth)
71
162
13
–11
13
–11
162
71
–19
–30
13
–30
–27
13
–27
–19
28
–18
–18
20
28
20
12
12
6
–20
6
–11
–20
–11
–11
–11
–37
42
6
–37
42
42
96
42
–36
10
–36
–25
–5
10
–5
–25
LP private equity target allocation (%)7
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
Capital calls in excess of distributions (% of distributions)4, 6, 8
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
1-year pooled IRR for 2000−21 vintage funds (%)6
17
17
12
17
17
17
12
17
17
25
26
26
17
25
25
25
30
23
23
30
42
42
38
38
1
1
–4
–3
–3
–4
–1
–1
9
11
11
9
9
10
10
9
6
6
4
2
2
4
4
4
Note: Deal size filter only affects deal value, deal count, PE-backed exit deal value, and PE-backed exit deal count metrics.
1Average annual central bank interest rate: effective federal funds rate is used as a proxy for North America, China’s 1-year medium-term lending facility rate as a proxy for Asia, and European Central Bank’s main refinancing operations rate as a proxy for Europe.
2US values displayed under “Global” filter.
3Exits of private equity investments. PE investments include those made by PE investors as well as by some additional investor types into mature companies. Excludes venture capital.
4Capital calls in excess of distributions and PE-backed exits reported only for all PE.
5Median buyout entry multiples data reported only for global buyout. Buyout figures displayed for global all PE as proxy.
6Capital calls in excess of distributions, IRR, and median buyout entry multiples data as of Q3 2024.
7Limited partner PE target allocation data reported only for all global PE.
8A negative value indicates that distributions have exceeded contributions in such year.
Source: CEM Benchmarking; European Central Bank; Federal Reserve Bank of St. Louis; International Monetary Fund; MSCI; People’s Bank of China; PitchBook; Preqin; StepStone Group
McKinsey & Company
The interactive heat map below shows key metrics across private equity asset classes, regions, and deal sizes.
Select a region and asset class, and toggle deal size
All private equity (PE) (buyout, growth, and venture capital)
Buyout
Buyout
Growth
Growth
Venture capital
Venture capital
Global
Global
North America
North America
Europe
Europe
Asia
Asia
Deal size: All
Deal size: All
Deal size: All
Deal size: All
Deal size: >$500 million
Deal size: >$500 million
Deal size: >$500 million
Deal size: >$500 million
Negative for PE industry
Positive for PE industry
Macro environment
General partners (GPs)
Limited partners (LPs)
Metric
2019
2019
2019
2019
2019
2019
2019
2019
2020
2020
2020
2020
2020
2020
2020
2020
2021
2021
2021
2021
2021
2021
2021
2021
2022
2022
2022
2022
2022
2022
2022
2022
2023
2023
2023
2023
2023
2023
2023
2023
2024
2024
2024
2024
2024
2024
2024
2024
Interest rate (%)1, 2
2.2
0
3.3
3.3
2.2
0
2.2
2.2
0.4
0
0.4
3.0
3.0
0.4
0
0.4
3.0
0.1
0
3.0
0.1
0.1
0
0.1
2.8
1.7
0.6
1.7
1.7
2.8
0.6
1.7
2.6
5.0
3.8
5.0
5.0
2.6
3.8
5.0
5.1
2.3
4.1
4.1
5.1
2.3
5.1
5.1
Inflation rate (%)
2.0
3.4
2.0
3.5
2.0
3.4
2.0
3.5
1.4
3.2
1.2
1.4
3.3
1.2
3.2
3.3
4.7
3.0
3.6
3.0
4.7
4.7
3.6
4.7
7.9
10.0
6.3
6.3
10.0
8.6
7.9
8.6
4.2
6.3
4.9
4.9
6.3
6.7
4.2
6.7
4.4
3.1
3.1
4.4
3.5
3.5
5.8
5.8
Deal value (% year-over-year [YOY] growth)
3
7
13
–29
–18
–3
5
2
–11
152
–13
–19
–22
–26
20
–8
107
70
89
124
144
90
70
98
–21
–10
0
–36
–30
–27
–26
–22
–18
–33
–29
22
–49
–25
19
20
49
–20
38
29
–35
14
–32
–25
Deal count (% YOY growth)
8
8
–27
–7
8
17
5
4
7
0
68
–27
–15
–18
4
3
41
44
75
84
72
79
34
41
–23
–31
–4
–4
–39
–36
–8
–5
–7
–9
–19
–16
–7
3
–18
–18
–14
–5
1
3
–23
8
3
–13
PE-backed exit deal value (% YOY growth)3, 4
–10
–19
–8
6
–20
–41
–17
–8
–8
–12
39
7
–8
–17
2
–11
56
45
124
116
131
135
87
54
17
–66
–45
–1
–24
–51
–8
–16
–22.0
–20
–10
–24
13.0
–21
–7
–6
3
–16
–32
10
–9
–16
54
–14
PE-backed exit deal count (% YOY growth)3, 4
–6
–55
–69
–9
–21
–28
–26
–20
89
43
193
16
347
2
71
32
94
111
103
111
111
126
92
102
–64
–57
–65
–75
–43
–45
–51
–54
–5
7
–36
–25
20
1
5
–4
–2
–10
–16
–9
16
59
32
8
Median buyout entry multiples (purchase price/EBITDA)5, 6
–
10.0×
–
–
–
–
–
10.0×
–
11.2×
–
–
–
–
–
11.2×
–
–
–
11.8×
–
–
–
11.8×
12.0×
–
–
–
–
–
–
12.0×
–
–
11.2×
–
–
–
–
11.2×
–
–
–
–
–
11.9×
–
11.9×
Fundraising of close-end commingled funds (% YOY growth)
13
28.0
–4
13
28
–4
13
13
–10
–13
16
–13
–24
16
–24
–10
47
–2
44
–2
47
44
36
36
–22
–20
–22
–7
–20
–1.0
–1
–7
–6
65
–56
–56
–6
65
–12
–12
–29
–32
–29
–24
–11
–32
–11
–24
LP private equity target allocation (%)7
–
–
–
–
–
–
6.1
6.1
–
–
–
–
–
6.3
–
6.3
–
–
–
–
–
–
6.8
6.8
–
–
–
–
–
7.5
–
7.5
8.2
–
–
–
–
–
–
8.2
–
–
–
8.3
–
–
–
8.3
Capital calls in excess of distributions (% of distributions)4, 6, 8
71
19
–10
71
–10
19
25
25
41
15
41
18
18
23
15
23
3
14
–12
–12
14
2
2
3
20
4
42
–9
42
4
–9
20
23
59
35
–28
35
59
–28
23
1
–38
–5
1
–38
–14
–5
–14
1-year pooled IRR for 2000−21 vintage funds (%)6
19
19
14
17
18
17
14
18
38
35
26
26
38
34
35
34
34
13
13
34
49
49
40
40
–9
–9
–6
–7
–7
–6
–8
–8
6
10
10
6
6
2
2
6
6
6
4
0
0
4
4
4
Note: Deal size filter only affects deal value, deal count, PE-backed exit deal value, and PE-backed exit deal count metrics.
1Average annual central bank interest rate: effective federal funds rate is used as a proxy for North America, China’s 1-year medium-term lending facility rate as a proxy for Asia, and European Central Bank’s main refinancing operations rate as a proxy for Europe.
2US values displayed under “Global” filter.
3Exits of private equity investments. PE investments include those made by PE investors as well as by some additional investor types into mature companies. Excludes venture capital.
4Capital calls in excess of distributions and PE-backed exits reported only for all PE.
5Median buyout entry multiples data reported only for global buyout. Buyout figures displayed for global all PE as proxy.
6Capital calls in excess of distributions, IRR, and median buyout entry multiples data as of Q3 2024.
7Limited partner PE target allocation data reported only for all global PE.
8A negative value indicates that distributions have exceeded contributions in such year.
Source: CEM Benchmarking; European Central Bank; Federal Reserve Bank of St. Louis; International Monetary Fund; MSCI; People’s Bank of China; PitchBook; Preqin; StepStone Group
McKinsey & Company