Biden’s Tax Proposal, COVID-19, and an Abundance of Dry Power Push Deal Volume to Record Levels

Eva Davis—Winston & Strawn partner and co-chair of the firm’s Private Equity Practice—was recently quoted in a Middle Market Growth article titled “The Great Compression” regarding the driving forces that are currently pushing deal volume to record levels.

Nearly two years into the COVID-19 pandemic, private equity is, once again, in Congress’ crosshairs. A plan to change capital gains tax has become less controversial in Washington, making it almost unavoidable, and placing mid-market firms and service providers in the position of having to race to ensure that deals get done before any legislation is enacted.

“Everyone is at capacity,” Eva Davis said. “Among my group in Los Angeles, and across the firm, we’re seeing more deals than ever on a per-attorney basis. Both volume and valuations are higher than ever.”

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