| The first six months resembled 2021: incredible numbers of deals, lots of exits, and substantial funds committed to the chase for the next five years. Then came the Federal Reserve’s rate hike in June. That move—and those that followed globally—signified the end of cheap debt in buyout markets and raised strong concerns about persistent inflation. Recession fears spooked banks from providing leveraged loans, and the dominoes fell from there, toppling year-end totals for deals, exits, and fund-raising. |
