Global private equity entry value jumps in February

The aggregate value of global private equity and venture capital entries surged in February even as the number of deals declined.

February saw announcements of transactions with a total value of $59.59 billion, up 125.7% from January and 114.3% from February 2023. Deal volume stood at 852, down 17.4% from the previous month and declining 15.8% from February 2023, according to S&P Global Market Intelligence data.

The volume of global private equity and venture capital entries during the first two months of 2024 was 1,884, down from the 2,215 reported for the prior-year period. Reported transaction values totaled approximately $85.99 billion, up 39.1% compared to the similar period in 2023.

– Download a spreadsheet with data in this story. – Read about global private equity entries in January. – Explore more private equity coverage.

The US and Canada accounted for 76.2% of the aggregate transaction value reported in February. Europe and Asia-Pacific accounted for 13.7% and 9.4%, respectively.

Asia-Pacific recorded the highest number of deals in February with 293. The US and Canada posted 289 transactions, while Europe tallied 234 deals.

The technology, media and telecommunications sector had the most deal activity with 297 private equity-backed transactions.

Within the sector, application software companies recorded the highest number of deals at 138. The systems software and interactive media and services segments recorded 31 and 24 deals, respectively.

Largest transactions

In the largest announced transaction in February, Novo Holdings A/S agreed to acquire pharmaceutical company Catalent Inc. in an all-cash transaction valued at about $16.45 billion, according to Market Intelligence data. The deal is expected to close at the end of 2024, subject to customary closing conditions.

The second-largest was the announced acquisition of insurance brokerage services provider Truist Insurance Holdings LLC by an investor group including Stone Point Capital LLC, Clayton Dubilier & Rice LLC and Mubadala Investment Co. PJSC in a transaction valued at $12.60 billion, per Market Intelligence data.