The transaction value of global private equity and venture capital deals reached $46.15 billion in August, up from $44.90 billion in August 2023, according to S&P Global Market Intelligence data.

Global deal volume plunged 30% in August to 683, compared to 980 during the same month in 2023. Asia-Pacific recorded the highest number of deals in August with 276, while the US and Canada hit 245 deals.

Regionally, the US and Canada led private equity (PE) and venture capital deals by transaction value, followed by Asia-Pacific. The US and Canada saw a 12.8% increase in total transaction value compared to August 2023. Conversely, deal value in Europe declined by nearly 67%, dropping to $1.81 billion in August 2024 from $5.46 billion in August 2023.

The total transaction value of global PE and VC deals surged year to date in August, reaching $419.43 billion, up 24% from the same period in 2023. However, August recorded 7,999 deals year to date, the lowest in the past five years.

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Technology, media, and telecommunications (TMT) topped PE and VC deal volume with 278 deals in August, followed by the industrial sector. Application software was the most invested industry within TMT, with 117 PE and VC-backed deals. However, the deal volume in the subsector dropped by 30% compared to August 2023. Advertising and interactive home entertainment were the only two subsectors where deal volume increased compared to August 2023.

In the largest announced transaction in August, private equity firms TowerBrook Capital Partners LP and Clayton Dubilier & Rice LLC agreed to acquire a 70.6% interest in healthcare technology company R1 RCM Inc. for $4.5 billion, subject to customary conditions.

KKR & Co. Inc.'s bid to acquire Japanese software company Fuji Soft Inc. was the second-largest announced deal in August. KKR made a tender offer to acquire Fuji Soft for $3.85 billion. The transaction will be financed from Asian Fund IV of KKR.