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Goldman Sachs

May 11, 2026

Sponsor Activity Barometer

Market ReportPrivate MarketsRates CreditEquitiesOther

The Goldman Sachs Sponsor Activity Barometer shows a broad-based improvement in private market conditions, reaching its highest level in 2026 driven by strong exit activity and stable financing conditions.

Key Takeaways

  • 1.Sponsor activity indicators reached their highest levels of 2026 in April and early May, rebounding from a yearly low in late March.
  • 2.Exit activity, particularly IPO volumes in Europe and announced sponsor-led exits globally, was the primary driver of the barometer's improvement in April.
  • 3.Financing conditions remain stable with notable recent strength in leveraged loan issuance in both the US and Europe.

Table of Contents

  • Sponsor Activity Barometer
  • Heatmap - Sponsor Activity Barometer
  • Barometer Methodology
  • Disclosure Appendix

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Authors

Oliver CarruthersAnshika MehrotraNaimeh SabourianTom Ferguson

Securities

S&P US IG Corp. Bond indexMorningstar LSTA indexICE BoA HY index

Themes

Private Equity Deal RecoveryNormalization of Capital Markets

Regions

EuropeNorth AmericaGlobalUnited States