Private equity firms deal activity slumped in the quarter ending today, according to new data from research firm PitchBook.
The report shows $262.7 billion invested into 1,353 global private equity deals in Q3 2015, compared to $298 billion for 1,768 deals in Q3 2014 and $2.45 billion for 1,648 deals in Q2 2015. The largest deal, by far, was the closing of the PE-backed reverse merger between Kraft Foods Group and H.J. Heinz, while the most active private equity firm was The Blackstone Group (BX).
Private equity did, however, experience an uptick in fundraising. One hundred nine PE funds raised $80.3 billion during the quarter, compared to 110 firms raising $62.4 billion in the year-earlier period. Most of this was for North American funds, although the largest came from European private equity firm EQT Partners.
Overall, 75% of funds raised in Q3 2015 hit their fundraising target, with an average time-to-close of 18 months.
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