This report provides the first evidence-based analysis of private equity in UK law, built from Companies House filings, charge registers and consolidated accounts. It examines 75 transactions across 24 platforms, identifying lenders, tracking leverage and testing deal assumptions. The findings reveal more than £1.8bn of confirmed debt deployed since 2020, alongside growing reliance on rate-sensitive income and emerging exit pressures. It sets out how these models operate in practice — and what they demand as they move from entry to execution. For firms considering refinancing or private equity investment, understanding the reality of the market is critical to making informed decisions.
