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New data suggests private equity took a summer vacation

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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).

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Source: PitchBook

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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