In 2025, the Canadian private equity (PE) market endured another
year of geopolitical uncertainty and economic volatility that began
with unprecedented and continuously evolving trade dynamics with
Canada's largest trading partner. Despite such challenges, PE
activity remained stable, with solid deal volume and continued
fundraising appetite, demonstrating the sector's structural
resilience and market participants' adaptability to evolving
macroeconomic conditions.
Takeaway 1: Resilience Amid Shifting Conditions
Numbers for 2025 are matching deal count with 2024 levels,
indicating continued resilience across Canadian PE activity. The
first three quarters of 2025 have yielded an aggregate deal value
of nearly $42B, representing an increasing of 18% compared with the
same time period in the prior year. 2025 also showed considerable
recovery in the amount of fundraising by Canadian PE firms when
compared to 2024, although still below the record fundraising year
in