Global private equity dealmaking is rebounding, with investments and exits on the rise after two years of decline.In 2024, private equity investment values surged 37% to $602 billion, while exit activity also increased significantly.While the industry faces macroeconomic uncertainties, the revitalized market in 2024 shows promising signs.Deal appetite is tempered by uncertainties in economy, trade, regulation, and geopolitics.Structural changes in the private equity landscape are shaping competition and capital allocation.Take-private transactions and technology sectors were key focus areas for private equity deals in 2024.Despite challenges like rising costs and heightened competition, the industry is adapting and demonstrating resilience.Fundraising environment saw a decline for the third consecutive year in 2024, with LPs favoring experienced funds.Private equity firms are increasingly investing in AI capabilities to enhance portfolio performance.Successful firms will need to define clear competitive advantages and strategies to navigate a competitive and evolving landscape.