Asia private capital dealmaking defies global
uncertainties
We started 2025 by predicting that, after a subdued first
quarter, data suggested an imminent uptick in the M&A and exit
markets. That optimism proved to be short lived, as 'Liberation
Day' tariffs drove uncertainty and reined in dealmaking
activity.
However, despite a year marked by geopolitical tension and
uneven macroeconomic recovery, the private capital market in Asia
has shown resilience, with deal value and numbers exceeding
2024.
As shown in the charts below, 2H proved to be slightly weaker
than 1H across many markets although China had a stronger 2H.
In Q4, nearly 75% of Asia buyout activity occurred in the
consumer, tech and industrial sectors.
