Q3 numbers: interest rates starting to bite
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PitchBook has just released the Q3 2022 US PE Breakdown, available for free here. Both deal volume and total value are now in silver medal territory, eclipsing annual numbers seen in pre-COVID years. Deal momentum has been strong enough to carry 2022 to historically impressive levels, though it appears to be waning: “Deal volumes finally hit the wall in August and September, and the decline went well beyond a seasonal slowdown,” the report notes. Q3 was a new post-COVID low for deal volume.