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The Americas accounted for the largest share of proposed PE deployment in Q1�25, with $287.1 billion in funding across 1,868 deals. In the EMA region, both deal value and deal count fell � to $109.1 billion across 1,555 deals � in Q1�25, driven in part by a number of major elections as well as a challenging economic environment across key markets such as the UK, Germany and France. 

Of the $37.5 billion in PE announced deal value seen in the ASPAC region during Q1�25, Japan accounted for $20.2 billion � nearly eclipsing its 2024 annual total of $22.8 billion � as ongoing regulatory pressures and cultural shift continued to make carve outs and major restructuring more socially acceptable creating a new avenue to PE investors. By comparison, PE investment in China was very slow, with activity amounting to just $4 billion across 36 deals.

Infrastructure continued to be a very large play for PE investors globally in Q1�25 � including both traditional infrastructure (e.g., energy transportation and storage) as well as IT and AI infrastructure � likely given the sector’s ability to provide long-term stable sets of cash flows. During Q1�25, PE investors showed interest in data centres, likely driven by growing recognition of the huge demand for processing capacity to address the needs of AI and generative AI in the years to come.  

Q1�25 saw the launch of 19 new private equity funds globally in the $500 million to $1 billion range � a notable surge compared to the 65 funds of that size raised during all of 2024. This uptick reflects a broader trend of capital consolidation, with limited partners (LPs) increasingly allocating capital to a smaller pool of asset managers. The beneficiaries of this trend are primarily well-established firms with proven track records, as well as high-performing niche funds with differentiated strategies. Large PE firms continue to expand � both by raising larger funds, by diversifying their strategic offerings and increasing investment flexibility. Meanwhile, smaller and emerging funds face mounting pressure, struggling to deliver strong returns amid market volatility and limited exit opportunities. Despite these challenges, the global PE industry continues to grow, with assets under management rising steadily as investors maintain long-term confidence in the asset class.

Globally, many corporates have recognized the need to transform their businesses to become more efficient given the current business environment and have put a major focus on protecting their core operations and assets. In some jurisdictions, companies have undertaken carve-outs, giving PE firms potential acquisition opportunities; in others, companies have started to seriously consider sales to PE firms to improve their long-term viability. This trend has been particularly noteworthy in countries like Japan which have historically not been receptive to PE buyouts.

In India, PE firms have also seen their investment opportunities evolve. Historically, most PE deals in India were minority investments, while in recent quarters majority investments have become more popular � even the norm.