July 7, 2026, 2:48 AM EDT. US private equity exits came in at $102.6 billion for Q2 2026, dropping 46% from last quarter as merger and acquisition sales to corporates slumped 63%. Sponsor-to-sponsor deal volume fell hard too, sinking to a 10-year low as valuations stayed mixed and buyers grew more selective. With returns under pressure and easy financing gone, PE shops picked up the pace on IPOs. PE-backed IPO count doubled to 12, and exit valuations gained more than 40% from Q1, now making up 31% of total exit value. Arcline-backed Arxis went public at a $10.2 billion valuation, marking a move toward public listings for large exits as M&A slows.