Good morning, Nina Lindholm here with the Europe Wire from the London newsroom. Dealmaking had a sluggish start to the year, including the slowest start for US dealmaking in more than a decade, according to data PE Hub analyzed from multiple providers. March deal value, however, reached the highest total in a decade, according to S&P Global Market Intelligence. We kick off this morning by delving into the figures. We’ll finish with another report, with Houlihan Lokey’s inaugural LP Compass survey. Private equity allocations remain resilient, despite geopolitical uncertainty. Big deals Dealmaking did not quite have the momentum in 2025 many predicted at the end of last year. But, while volume is muted, global private equity and venture capital deal value in March surged to the highest monthly deal value in at least a decade, according to S&P Global Market Intelligence. For my takeaways from the report and information on a take-private deal that was halted due to market uncertainty, check out the premium Wire. PE Hub is keen to hear your thoughts on tariff impact on dealmaking. Send your comments to nina.l@pei.group. Steadfast commitment Sticking with the uncertainty theme to finish. Private equity continues to demonstrate investor resilience in 2025, despite concerns around geopolitical instability, according to Houlihan Lokey’s LP Compass survey. To learn more about the survey, take a look at the full Wire coverage. That’s all from me this morning. Make sure to catch our tariff-focused US edition of the Wire later today, written by MK Flynn. Irien Joseph is in the Europe chair tomorrow, as Craig McGlashan takes some well-deserved time off this week. Cheers,
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