Southeast Asia’s private equity market remains subdued in 2025, with deal value falling about 10% year on year to approximately $14 billion across 84 transactions.
This is the findings of Bain & Company’s Southeast Asia Private Equity Report 2026, which highlights that recovery in the region remains uneven as value concentrated in a small number of large transactions, in line with broader Asia-Pacific trends.
According to Bain, deal activity was driven primarily by growth and buyout investments, citing government-linked investors that played an increasingly prominent role in high-value deals.
The report also revealed that large deals accounted for a disproportionate share of total value, reinforcing the concentration of capital in the region.
Moreover, capital is still available, but deployment is more selective, as investors are prioritising high-quality assets with strong management teams, clear competitive advantages, and defined exit pathways. Bain says this shows a more disciplined approach amid a limited pool of investable opportunities.
The study further highlights that deal exits continue to constrain the market, as exit value drops 32% in 2025, with trade sales remaining the dominant exit route and IPO activity showing early signs of recovery.
