Global private equity deal value and volume down in January

Global private equity and venture capital deals totaled $75.1 billion in January, a 19% drop from January 2021, according to S&P Global Market Intelligence data. Deal volume was also down during the measured period, dropping 11.9% to 1,663 from 1,888 a year prior.

North America accounted for the most deals in January with 641 deals announced, followed by 508 Asia-Pacific transactions and 398 in Europe.

In January, the energy and utilities sector investments showed the largest year-on-year decline with an 87% drop in total transaction value to $4.04 billion.

However, the sector did see a sizeable deal. Blackstone Inc., in early January, agreed to invest $3 billion in the largest private renewable energy developer in the U.S. Funds managed by Blackstone Infrastructure Partners LP entered into an agreement with Caisse de dépôt et placement du Québec, or CDPQ, and Invenergy LLC to invest $3 billion in Invenergy Renewables LLC.

Technology, media and telecommunications remained the most popular sector, doubling year-on-year investment value to $40.54 billion in January. Notable deals included Vista Equity Partners Management LLC affiliates and Evergreen Coast Capital Corp., an affiliate of Elliott Investment Management LP, agreement to purchase cloud-computing company Citrix Systems Inc. for $16.5 billion in cash, including debt. Vista Equity Partners also invested $70 million in Boston-based data platform Jebbit Inc. through its Endeavor Fund.

Also in January, Chicago-based healthcare services provider R1 RCM Inc. agreed to acquire Cloudmed from New Mountain Capital LLC in a nearly $4.1 billion all-stock deal.