Q2 was as bad as expected

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PitchBook’s latest US PE Breakdown is out this Friday, and newsletter subscribers will have access to it that morning. The first full quarter of COVID-impacted data is in and it isn’t pretty. Overall US PE deal flow was down 54% from the first quarter, from 1,147 transactions to only 531. Q1 was itself partially impacted by the lockdowns, so the YoY comparison with Q2’19 (down 61%) carries some weight.