Morgan Stanley says global M&A deal value rises 17% YTD in 2026 amid macro volatility
MS•Global M&A recovery continues despite volatility
Morgan Stanley Private Equity Asia flagged a sustained global M&A recovery, with announced deal value up 17% year-to-date through June 23.
Private equity buyout deal value tracked flat to slightly down, despite total M&A momentum driven by mega-deals from strategic buyers.
Private equity share falls as fundraising shifts
PE’s share of overall deal activity fell below 31% for the first time in 10 years, signaling cautious buyer and seller behavior.
Middle-market deployment stayed constrained versus buying power, with a full unlock implying a 20%+ increase from current levels.
Late-stage “Unicorn” funding shifted sharply, with 74% of proceeds going to companies with six-plus VC rounds versus a 25% 10-year average.
