KPMG's "Pulse of Private Equity" series analyses global and regional private equity activity on a quarterly basis. It is based on an integrated methodology that combines various data sets and thus offers much more than a snapshot of classic buyouts: the reports cover the entire spectrum of relevant PE deals. The aim is to provide stakeholders with insights into the changing private equity landscape to support investment decisions and understand long-term market movements.
In the third quarter, Germany recorded private equity investments totalling USD 15.2 billion. The secondary buyout of Kelvion, a company specialising in heat exchange and cooling solutions, by Apollo Funds with a value of USD 2.3 billion made a significant contribution to this total. A further USD 2.2 billion was generated by the sale of Continental's ContiTech Techno-Chemie business unit to Regent. Investments in the third quarter of 2025 exceeded those of the same period of the previous year (USD 12.2 billion), although the number of transactions was lower - 183 in the third quarter of 2025 compared to 204 in the third quarter of 2024.
Tilman Ost
Partner, Deal Advisory, Private Equity, Global Private Equity Advisory Leader
KPMG AG Wirtschaftsprüfungsgesellschaft
