Spotlights on sectors
The slowdown in global deal-making is cross-sector, nearly all of which have declined by value compared to 2018, with TMT the most stark example at 15% down on the previous year. Others, such as energy and infrastructure and consumer and retail, are down by 13% and 12% respectively.
Most sectors are feeling the pressure of these more uncertain times and it is clear that many investors, notably PE funds, are expecting to see a market adjustment in the coming months, bringing buyer and seller expectations closer into line.
Some notable exceptions are the financial services sector, which has seen an increase of 9% and life sciences and healthcare, which has seen a 19% increase in deal value in 2019 compared to 2018, giving the sector global deal value of USD479 billion. With PE funds paying attention to the sector, it is expected that deal flow will remain strong in the coming months.