PitchBook | PE Exits Decline 25% in Q2 as Deal Activity Cools

Originally published by PitchBook on July 8, 2025

New PitchBook data shows the long-awaited resurgence of deal activity in private markets was delayed once again in Q2, confirming the private credit provider reports of sluggish lending activity. The count of private equity exits declined by 25% on a quarterly basis in Q2, which marks the third consecutive quarter of decline.

Despite uncertainty creating market volatility and a slowdown, recent weeks have seen an uptick in activity. Chris Stradling, Managing Director and co-head of Lincoln’s Consumer Group, recently spoke with PitchBook LCD about market sentiment.

“While private equity exits declined in Q2, we’ve seen a noticeable shift in market sentiment since mid-May, with deal flow and quality both improving as more sponsor-backed opportunities return to market,” said Chris.

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