Kyle Walters
Kyle Walters is a private equity research analyst at PitchBook, based in the firm's New York office. He covers US private equity and has authored analyst notes on PE fundraising trends. Prior to joining PitchBook, he worked as an M&A analyst at KVLR Capital and holds a bachelor's degree in finance and business analytics from Le Moyne College.
“PitchBook counted 95 continuation fund deals in the year to Sept. 30 with an aggregate value of $47.4 billion... This compares with 161 such deals in the record year of 2025, when aggregate transaction value topped $97.6 billion.”
Source→“The problem is particularly acute for PE funds deploying capital between 2018 and 2022... Funds that began investing in 2021 have returned just 0.14x investors' initial commitments.”
Source→“The 2021–2024 fundraising boom was built on a unique and unrepeatable set of conditions—near-zero rates, surging valuations and a flood of new LP entrants—that compressed years of demand into a narrow window. The correction that followed was inevitable.”
Source→AI-extracted from podcast / newsletter / paper summaries. May contain errors.