Global private equity deal value in April drops 26%

Global private equity deal value in the month of April totaled $24.96 billion, down 25.7% from $33.58 billion in April 2025, according to S&P Global Market Intelligence data.

Deal volume also dropped, falling to 158 from 240 during the measured period.

In the first four months of 2026, the aggregate deal value was $194.85 billion, 14.02% higher than $170.89 billion during the same period a year earlier. However, the number of deals dropped to 850 from 1031.

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Largest investments

Ten deals of at least $1 billion were announced in April, with three transactions in the healthcare sector.

The top transaction was Bernhard Capital Partners Management LP and Stonepeak Partners LP's $6 billion acquisition of electric utilities company Cleco Group LLC.

The largest deal in healthcare was Thomas H. Lee Partners LP's acquisition of a majority stake in clinical research organization Celerion Holdings Inc. from H.I.G. Capital LLC. The $1.8 billion transaction is expected to close later this year, according to Market Intelligence data.

A proposed £5 billion takeover of carbon energy solutions company DCC PLC by Energy Capital Partners LLC and Kohlberg Kravis Roberts & Co. LP would have been the largest deal of the month, but DCC rejected the offer on April 29.

Top sectors

The technology, media and telecommunications sector was the most active in April, with 33 announced private equity deals and an aggregate deal value of $4.81 billion.

Broken into subsectors, application software had eight deals, which was down 52.9% from 17 deals in April 2025. IT consulting had five deals, and four were in internet services and infrastructure.