Total European private capital investment rose to €135b in 2025, marking the second-strongest year after 2021. Buyout investment drove this trend, reaching €90b. Activity accelerated in the second half of the year as markets stabilised following earlier uncertainty, and exit value remained solid at €45b in 2025, supporting distributions to limited partners.
According to the report, fundraising remained concentrated among fewer, larger funds, with pension funds and international investors playing an increasingly prominent role.
