Swiss dealmaking rebounded strongly in the first eight months of the year, rising by a fifth to $44 billion, according to a report by Boston Consulting Group. The surge marks a revival in Swiss M&A activity, with the total just above the eight-year average, BCG said on Monday.

Large corporate transactions dominated the landscape, effectively squeezing out private equity funds that previously played a more active role in the market. This shift reflects tighter financing conditions and increased competition among strategic buyers.

The rebound signals renewed confidence in Swiss markets, particularly in Zurich and other financial centers, though private equity firms may need to adapt their strategies to compete with well-capitalized corporate acquirers.