Private equity sees hope for M&A recovery

A store for lease at the Dalian Wanda Group Co. Qingpu shopping mall in Shanghai, China, on Sunday, May 26, 2024. Private equity firm PAG is considering buying Wanda's shopping mall properties, according to people familiar with the matter. Photographer: Qilai Shen/Bloomberg

LONDON: Private-equity firms clinched more than US$30bil of deals around the world last week, raising hopes for a recovery in mergers and acquisitions (M&A) following a slow first half of the year.

TPG Inc and CVC Capital Partners Plc announced two purchases apiece in the span of a few days, while Brookfield Asset Management and EQT AB moved forward with major buyouts of public companies. Advent International, Cinven and PAI Partners were among those making significant divestments, showing they’re able to return capital to investors at a time when many other sale processes are floundering.