For many, 2022 couldn’t end fast enough. But will 2023 be any better? Depends who you talk to. Macroeconomic conditions, geopolitical cross-border conflict and a host of other factors have resulted in a cloudy outlook. To get a clearer view on what dealmakers expect in the year ahead, Mergers & Acquisitions tapped some of the industry’s top bankers, lawyers, lenders, advisors, placement agents and business development firms to share their insights on what is likely to come. Let’s go ‘round the horn and hear what they have to say.

Dwayne Hyzak, CEO of Main Street Capital, echoed Forman’s sentiments. “I expect the economy to take additional steps back during the first half of 2023,” Hyzak says. “However, I do believe that the U.S. economy will continue to be resilient and will significantly outperform the rest of the global economy. Once the Fed starts slowing its interest rate activities and eventually reverses some of its actions, the economy should see significant improvement beginning in the third quarter and continuing in the fourth quarter and 2024.”