2024 M&A Year in Review - Flipbook - Page 68
68
Private Equity
Sector performance
Following the decline in private equity dealmaking in
2022 and 2023, deal volume gradually rebounded in the
first half of 2024, with stronger momentum in the second
half of the year. This improvement was driven in part by
declining inflation and interest rates, as well as increased
political stability following elections in key jurisdictions
such as the United States and the UK. Competition for
premium assets remained strong throughout the year.
Sponsors turned to alternative transaction structures —
including using NAV lending, structured preferred
equity, and GP-led transactions — to realize cash from
investments and return distributions to limited partners
without fully exiting their portfolio companies.
Hogan Lovells activities
In 2024, our Private Equity team partnered with clients on
their high-end and mid-market transactions across the
globe. We advised on the full spectrum of investment
activities, including private M&A, take-privates, minority
investments, joint ventures, co-investments, secondaries,
and exits. Our team advised on transactions in highly
regulated sectors, including financial services, insurance,
energy and infrastructure, life sciences and health care,
and sports, media, and entertainment.
We continued to cement our position as one of the leading
global Secondaries practices in the market, advising
secondary funds, institutional investors, and other
industry participants on the full range of secondaries
transactions, including GP-led liquidity solutions.
