Morgan Stanley Expansion Capital says global M&A deal value rises 17% YTD despite volatility
SPY•Private equity and deal mix remain uneven
Private equity buyout deal value stayed flat to slightly down, with PE participation in total deal activity dropping below 31%.
Mega-deals by strategic buyers drove gains, while middle-market volumes grew only modestly amid rate sensitivity and a pause in Fed cuts.
Midyear outlook points to resilient M&A rebound
Morgan Stanley Expansion Capital’s 2026 midyear outlook flagged a resilient M&A rebound despite higher macro volatility tied to a Mideast war.
Global announced M&A deal value rose 17% year-to-date, extending 2025’s 44% surge.
Late-stage venture funding shifts toward more mature startups
Late-stage “unicorn” funding shifted sharply, with companies at six-plus VC rounds taking 74% of proceeds versus a 25% 10-year average.
