02
Apr
US private equity outlook - a turning tide
The tide is turning for private equity in 2025. According to Mergermarket data, in 2024, sponsor-led buyouts enjoyed a comeback, rising 32% to USD 286.6bn compared to the previous year. A combination of lowering interest rates, large amounts of capital requiring deployment, an expected increase in exits and anticipated favourable market dynamics post the US election suggests; that there will be significant opportunity in both buyout and middle market private equity. Our panel of leading GPs will unpack what to expect in the year ahead.
- What are the main drivers of deal flow in the US, and how are macro, political, and regulatory issues impacting private equity dealmaking?
- Which sectors show promising growth in the next six months?
- Will improved financing costs and a convergence of buyer and seller price expectations improve dealmaking and exit activity?
- Will 2025 be a golden vintage year for private markets?
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SpeakersBo Huang Partner Advent International
Eli Nagler Senior Managing Director Blackstone
Bobby Schmidt Partner and Global Co-Head of Healthcare Carlyle
Alexandre Décary VP and Head of Americas & Asia-Pacific, PE CDPQ
Cristiano Dalla Bona Senior US Equity Capital Markets Reporter Mergermarket
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Bo Huang joined Advent in 2016 and is a Managing Director in Boston. He advises on investments in the business & financial services sector. Bo has advised on 16 investments during his career, eight while at Advent.
Prior to joining Advent, Bo worked at Apax Partners, where he focused on investments in the technology and healthcare sectors. Before that, he worked at Lazard in mergers & acquisitions.
Bo received a BA in Economics and Biology and BAS in Biomedical Science, cum laude, from the University of Pennsylvania, and an MBA from the Wharton School of the University of Pennsylvania.
Eli Nagler is a Senior Managing Director in the Private Equity Group, where he leads investments in the Technology and Financial Services sectors. Since initially joining Blackstone in 2007, Mr. Nagler has been involved in the execution of the firm’s investments in Alight Solutions, BankUnited, Bayview Asset Management, Ellucian, Exeter Finance, IntraFi Network, Lendmark Financial Services, MB Aerospace, Paysafe, Refinitiv, Renaissance Learning, Sphera, Tradeweb, Viva Capital, Vivint, and Vivint Solar. He currently serves as a Director of Ellucian, IntraFi Network, Paysafe, Renaissance Learning, and Sphera.
Before rejoining Blackstone after the completion of an MBA, Mr. Nagler worked at the United States Treasury Department in the Office of Capital Markets.
Mr. Nagler received an AB magna cum laude from Harvard College and an MBA with distinction from Harvard Business School, where he graduated as a John L. Loeb Fellow. He is a former Term Member of the Council on Foreign Relations and a Partnership for New York City Rockefeller Fellow.
Robert R. Schmidt is a Partner and Global Co-Head of Healthcare. He is based in New York.
Since joining Carlyle in 2011, Mr. Schmidt has been involved in a number of the firm’s investments globally, including Beats Electronics, Included Health (fka Grand Rounds), Medline, MedRisk, One Medical, QuidelOrtho (fka Ortho Clinical Diagnostics), Resonetics, Sedgwick, and Unchained Labs. He is currently a member of the board of directors of Included Health, Medline, MedRisk, QuidelOrtho, Resonetics, and Unchained Labs.
Prior to joining Carlyle, Mr. Schmidt worked at Welsh, Carson, Anderson & Stowe, a private equity firm focused on healthcare and technology investments, and Merrill Lynch Global Private Equity, focused on buyouts in North America.
Mr. Schmidt received his M.B.A. from Harvard Business School and a B.S. in economics from The Wharton School at the University of Pennsylvania, where he is currently a member of the External Advisory Board at the Leonard Davis Institute of Health Economics.
Alexandre Décary is Vice-President, Private Equity, Americas. In this role, he is responsible for all activities in the region and leads a team of specialists in the field.
Mr. Décary has over 20 years of finance and investment experience. He has executed numerous private and public transactions around the world. Before his appointment, he was Managing Director, Québec, and supervised an investment team working with large caps. Before joining CDPQ in 2017, he held leadership positions at PSP Investments, Aimia and RBC Capital Markets.
Mr. Décary holds a Bachelor’s in Business Administration and a Graduate Diploma in Accounting from HEC Montréal, as well as a Master’s in Finance from the London Business School. He is a CPA and a CFA charterholder, and represents CDPQ on the Boards of Administration of several portfolio companies and non-profit organizations.