The private equity deal market is finally showing signs of life, according to a report by Bloomberg citing Goldman Sachs Chief Financial Officer Denis Coleman, with sponsor-led activity now gaining momentum, and announced deal volumes up 40% year-to-date.
Speaking at a financial services conference in New York, Coleman said high borrowing costs had previously constrained PE transactions, slowing exits and capital returns. He noted that his bank has advised on over $1.5tn in deals so far this year, positioning Goldman to benefit from the pickup. He added that jumbo financing deals, particularly in data centres and AI-related infrastructure, are now “percolating”, signalling renewed market confidence.
Private capital sources such as family offices are also driving activity, according to KeyCorp CEO Chris Gorman, reflecting a broader diversification of dealmaking participants. Coleman described 2025 as shaping up to be potentially the second-largest year for M&A on record, underscoring the strength of the rebound in PE dealmaking.
