Private markets have been fundamentally re-priced — and LPs need to understand what that means for manager selection, underwriting discipline, and portfolio risk.
Based on CEPRES Market Intelligence data from 172,000+ private market deals since 2000, this whitepaper examines how entry valuations, leverage, and returns have evolved across private markets, with deeper analysis of North American buyouts and Software. The findings show that median entry EV/EBITDA multiples have nearly doubled, while high-leverage deal structures have become more common across the market.
Download the whitepaper to see what 25 years of verified deal data reveals about the changing economics of private markets — and the questions LPs should be asking GPs today.
