Private equity firms continue to pour money into ad agencies, despite the slowing economy. And while rising interest rates could dampen dealmaking for the rest of 2022, PE firms are still sitting on $1.6 trillion they're looking to invest, according to the firm. More PE firms have been entering the sector, managing director Marc Flor of investment bank Berkery, Noyes & Co., has said. Specifically, private equity is eyeing digital agencies and adtech companies with subscription-based models that aren't tied to ad spending cycles, Master said. Representatives for the PE firms either declined to comment or didn't respond to requests for comment unless otherwise noted.

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