Introduction

Bain and Company's 2023 mid-year private equity report shows deal values are down about 45% of this year versus last. Exits are in an even tougher spot, they're down nearly 70%. And fundraising as a result is on track to drop by nearly 30% by the end of the year. P.M. Dry: It's not clear that there's going to be a recession anytime soon. That begs the question, when are we going to get back to deal making?