S'pore leads Southeast Asia's private equity deals, volume in 2024

Malaysia, Indonesia, and the Philippines accounted for 55% of PE deal value and 43% of deal volume.

Singapore has contributed 45% of private equity (PE) deals and volume in 2024, the highest among Southeast Asian markets, EY reported.

EY attributed Singapore's performance to its favourable regulatory and financial environment for entrepreneurs and private capital.

Malaysia, Indonesia, and the Philippines collectively contributed about 55% of total PE deal value and about 43% of PE deal volume in 2024.

“Deal activity notably picked up through the course of 2024, compared with the previous year, and we expect this momentum to carry into 2025,” said Luke Pais, private equity leader for Asia-Pacific at EY.

PE activity in Southeast Asia (SEA) witnessed good momentum in 2024 compared to the previous year, with deal value increasing by 221% year-on-year (YoY) and deal volume increasing by 103%.

PE deals accounted for some 10% of overall mergers and acquisitions deal volume in the region in 2024, compared with some 11% in the previous year.

Infrastructure was the most active sector, contributing 40% to SEA’s total PE deal value in 2024, driven by the continued active investment by PE players in building out digital infrastructure capabilities across the region to meet market demand.

This was followed by the real estate and consumer sectors, which constituted 20% and 13% of the region’s total PE deal value, respectively.

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