• 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.
• 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.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Morgan Stanley Private Equity Asia Inc published the original content used to generate this news brief on July 16, 2026, and is solely responsible for the information contained therein.