• E firms made 13% fewer exits in 1Q24 following last year’s hangover
• Sponsors explore alternative realisation strategies like dividend recaps
• Uptick expected as bid/ask spread narrows and syndicated financing re-opens

Sponsors have got off to an even slower start for full exits in EMEA this year than in 2023, with many opting for other monetisation routes and awaiting an expected market pick-up later in the year, according to market practitioners.

The number of exits in 2024 YTD has dropped by around 13% on last year to 114, with disclosed deal volume down 6% to EUR 12.4bn – making it the worst first quarter in at least six years, according to Mergermarket data.

Last year had already taken a dramatic drop from 2022, with deal value plummeting 62% and deal volume falling 28%.