2025 Private Equity Year in Review

A Year of Continued Growth, Market Leaderships and Results

Holland & Knight is pleased to share our 2025 Private Equity Year in Review, reflecting a year of continued growth, market leadership and meaningful results for clients. Building on decades of experience, we provide a premier platform for middle-market private equity transactions, advising more than 335 clients on more than 480 transactions in the last year alone. Our attorneys combine deep experience, innovative thinking and a highly engaged, client-focused approach to advance the business objectives of private equity firms, portfolio companies, family offices, independent sponsors and other financial investors, as well as founder- and family-owned businesses.

Deal Activity

In 2025, Holland & Knight attorneys helped more than 335 clients close more than 480 private equity transactions with an aggregate value of approximately $25.7 billion.

Market-Leading Rankings and Recognitions

Holland & Knight continues to rank among the most active private equity law firms in the world by deal count in reputable, benchmarking publications. In 2025, we were also recognized as the USA Private Equity Law Firm of the Year (Global M&A Network) and M&A Law Firm of the Year (The M&A Advisor), as well as honored for our roles in several transactions that were recognized with "Deal of the Year" awards.

Deal Spotlight

Our attorneys helped clients navigate and close a number of market-leading transactions in 2025. The 2025 Private Equity Year in Review spotlights several marquee transactions across industries and geographies that demonstrate Holland & Knight's commitment to providing excellent service that advances the business goals and objectives of our clients.

Private Equity Decoded

In 2025, private equity investors navigated a rapidly evolving landscape shaped by shifting exit dynamics, regulatory recalibration and accelerating technological adoption. Against a backdrop of extended hold periods and heightened pressure to return capital, sponsors rethought traditional exit strategies and embraced new liquidity solutions. At the same time, changes in the U.S. antitrust environment restored greater deal certainty and momentum across the market. As artificial intelligence (AI) moved from experiment to essential capability, firms began redefining how deals are sourced, diligenced and executed, setting the stage for a more data-driven era of private equity.

Value Through HK Deal Flow℠

Holland & Knight recognizes the intense competition for deal flow, with a large amount of capital in the market pursuing a limited number of high-quality deals. In response, Holland & Knight established HK Deal Flow^SM in 2017 as a complimentary service designed to generate deal leads through the extensive and diverse network of Holland & Knight's lawyers and professionals, investment bankers and other deal intermediaries. We strategically match these leads with clients and friends of the Firm who are seeking opportunities.

The HK Deal Flow^SM program also includes robust capital connection and other capabilities, including introductions to equity investors, lenders (both bank and non-bank) and experienced operating partners with differentiated industry experience.

Event Highlights

In 2025, Holland & Knight actively hosted and participated in more than 30 private equity-focused events, convening over 1,200 professionals from nearly 620 private equity firms, family offices, independent sponsors, search funds, investment banks and businesses. These gatherings fostered collaboration and insights.

Market Outlook – Hot Topics and Trends

As we enter 2026, private equity investors are sharpening their focus on sectors that offer resilience, predictable performance and long-term value creation. This year's outlook highlights three areas poised to shape market activity: defense and national security, professional services and real assets. Each reflects a combination of structural demand, evolving industry dynamics, and opportunities for scale and innovation. Together, these themes underscore how sponsors are navigating uncertainty by doubling down on durable business models and future forward investment theses.

See You in 2026!

As we look forward to the year ahead, we are excited at the prospect of connecting with many of our cherished clients and friends at marquee events and conferences. The shared experiences, insightful conversations and collaborative spirit that these gatherings foster are invaluable to us. We eagerly await the opportunity to engage in meaningful discussions, exchange ideas and strengthen the bonds that make our professional relationships truly exceptional. We'll see you soon!