PitchBook's Kyle Walters joined BG Insights to break down why North American M&A deal count is holding up even without a repeat of 2025's mega-deals. He also gets into the AI and data center-driven M&A wave hitting Energy & Infrastructure, and why founder-owned businesses remain private equity's top target regardless of market conditions. Listen here 🎤
🎙️ North American M&A Market Update with Special Guest Kyle Walters, PitchBook BG Insights Season 3 Episode 6 In this episode, Stewart Carlin sits down with Kyle Walters of PitchBook for an update on the North American M&A market. Kyle breaks down why deal count has stayed resilient even as 2025's run of mega-deals hasn't repeated, why Energy & Infrastructure is seeing a multi-year wave of M&A tied to AI and data center demand, and how founder-owned and privately held businesses continue to account for the largest share of private equity deal sourcing. They discuss: • Why deal count has stayed elevated in 2026 even though 2025's run of $10B+ mega-deals hasn't repeated • How headline dollar-value figures can undersell a market where deals are still getting done • How AI and data center demand is driving a multi-year wave of M&A in Energy & Infrastructure, with PE chasing the physical assets behind the buildout — grids, power, servicing businesses — rather than the technology itself • Why founder-owned businesses remain the primary target for sponsors, regardless of market conditions • How PE-to-PE deals, the second largest source of activity, tend to slow when the backdrop gets more challenging • What this means for owners considering a sale in today's market Listen here: https://lnkd.in/e_ME8xHn