普华永道（PwC）：2025年欧洲私募股权趋势报告（英文版）（83页）.pdf

1、 Strictly private and confidential Private Equity Trend Report 2025 PwC 2 Private Equity Trend Report 2025 Table of contents Table of contents.2 Preface.4 Introduction.6 Key findings.7 1.Deal-making conditions to improve.8 2.Exits on the rise.8 3.More new deals on the horizon.8 4.M&A strategies take

2、 centre stage.8 5.Fundraising challenges ahead.8 6.Portfolio companies faced more stress than anticipated.8 7.but returns surprised on the upside.9 8.Digital technologies transforming PE firms and their portfolios.9 9.ESG contributing to PE returns.9 10.Germany remains attractive.9 Methodology.10 Ma

3、rket commentary.12 Private equity in Europe.13 Buyout trends.14 Top buyout deals.15 Exit trends.15 Top exit deals.17 Geography of European deals.17 Industry focus.18 Deep dive:DACH spotlight.20 Deep dive:Benelux spotlight.22 Chapter 1:2024 in review.25 More market opportunities.26 Competitive dynami

4、cs.28 Exits recovering.29 Portfolio performance remains resilient.30 Debt-to-equity ratios.32 LP perspectives.33 Chapter 2:The year ahead.35 3 Private Equity Trend Report 2025 A brightening outlook,but clouds loom on the horizon.36 Risk ahead.38 Consolidation strategies take centre stage.41 New deal

5、 sources.42 Sectors on the move.43 Companies in difficulty.45 Chapter 3:Return on investment,operational improvements and value creation 48 Surprise on the upside.49 Value creation levers.52 Chapter 4:Digital transformation.56 Digital adoption picking up.57 Transforming PE operations.59 Future plans

6、.60 Chapter 5:ESG and responsible investing.64 Chapter 6:Zooming in on Germany.70 Economic challenges belie strong PE opportunities.71 Appendix.75 4 Private Equity Trend Report 2025 Preface The year 2024 has proven to be a defining period for the European private equity(PE)industry,characterised by