New Delhi, March 9 -- The outlook for private equity in 2025 will depend on the macroeconomic stability, as global mergers and acquisitions (M&A) activity showed signs of slowing early in the year, and uncertainty around inflation, interest rates, and tariffs persists, according to a report by Bain & Company.

"Whether the momentum can build in 2025 will largely depend on macro conditions and policy. The

industry is certainly anxious to make deals," the report said, adding that year's early slowdown in M&A activity globally suggests that the dreaded U word (uncertainty) continues to keep markets on edge.

The Global Private Equity Report 2025 added that present slowdown in fundraising is linked to previous years' capital drawdowns and lo...