GS · News · 20260922N

Private Equity Deal Retrenchment

GOLDMAN SACHS GROUP INC · 2026-09-22 · Importance 17 · Surprise 24

A Goldman investment banker in Switzerland reported that private-equity funds are increasingly unable to compete with strategic buyers in regional deal auctions. Private-equity firms’ dropout rate from sell-side processes was described as “incredibly high.” The trend suggests weaker private-equity participation and a more challenging investment-banking transaction environment in Switzerland, although no dollar impact was provided.

Key facts

• A top Goldman Sachs investment banker in Switzerland said private equity funds are increasingly unable to compete with strategic buyers in deal auctions, leading to a significant retreat of private equity firms from sell-side processes in the region and that their drop-out rate remains "incredibly high." source