The global private capital market has been in a significant slowdown in the 2nd quarter of 2025, amid geopolitical uncertainty, commercial tensions and instability around US tariff policies. However, in this difficult environment, the technology, media and telecommunications (TMT) sector recorded the largest absorption of capital, attracting $ 247.2 billion and maintaining its leadership position in the international market.

Despite the global slowdown, the broader technology sector raised $ 247.2 billion in the 2nd quarter of 2025

According to KPMG’s new Pulse of Private Equity report, TMT investments exceeded any other sector, despite being significantly less than $ 649.9 billion recorded in the corresponding period of 2024. such as artificial intelligence and digital infrastructure.

The image, sketched by KPMG, confirms that – even in an environment of uncertainty – technology is still the decisive factor in the direction of private capital.

Europe’s role

Globally, private capital investments decreased from $ 505.3 billion in the 1st quarter of 2025 to $ 363.7 billion in the 2nd quarter, with the number of agreements limited from 4,527 to 3,769. The slowdown was more intense in America, where investments fell $ 214 billion, of which $ 202 billion in the United States.

In EMA (Europe, Middle East, Africa), the total fell to $ 117.4 billion, while Asia-Pacific (ASPAC) fell the highest drop, limiting to $ 20.8 billion.

Areas with remarkable durability-h

Despite the fall, specific areas have achieved remarkable durability. The bio -sciences attracted $ 6.9 billion, already exceeding 2024. Healthy ($ 79.3 billion), energy & natural resources ($ 110.8 billion) and infrastructure ($ 74.4 billion), all over the previous year’s annual levels.

The report notes that investors are turning to small and medium -sized acquisition transactions, which require less leverage and provide greater flexibility in an increased risk environment. As KPMG points out, despite the decline in volume and value of transactions, technology and secondary agreements have been the key levers of growth, creating opportunities for differentiation and liquidity.

Particular reference is made to the utilization of artificial intelligence, which is highlighted by an organic development strategic factor. AI adoption allows portfolio companies to improve efficiency, reduce costs and create new sources of revenue, making them more attractive to investors looking for durable and innovative models.

Forecasts for the 2nd semester

The prospect for the rest of 2025 remains moderately optimistic. Analysts estimate that there will be a gradual recovery of transactions if there is stability in commercial policies and interest rates.

The emphasis is expected to be placed in sectors that combine resilience with innovation, with technology remaining at the heart of global investment strategies.