Global private equity and venture capital entries dropped 53.5% in November to $63.51 billion from $136.72 billion a year earlier, according to S&P Global Market Intelligence data.

The number of announced deals during the month declined 40.5% year over year to 1,429 from 2,402 in November 2021.

Year-to-date totals also down

Total deal value for the year through Nov. 30 was $677.23 billion, down 37.3% from about $1.079 trillion through the same point in 2021, according to Market Intelligence data.

Total deals announced also fell behind the pace set in the previous year, with 21,455 entries recorded between Jan. 1 and Nov. 30, compared to 24,178 deals in the same period a year ago.

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Asia-Pacific leads global dealmaking

Asia-Pacific led in entries, with deal value totaling $25.73 billion across 407 transactions announced in November. Europe came in next with 395 deals totaling $24.07 billion, followed by the U.S. and Canada, with an aggregate deal value of $12.29 billion from 533 deals.

Technology, media and telecommunications continues to be the sector of choice

The technology, media and telecommunications sector garnered the most capital from private equity firms during the month, attracting $30.98 billion in total deal value. That number was down 45% from $56.30 billion in November 2021.

The industrials sector secured $18.70 billion in November, up from $11.37 billion collected in the same month a year ago. Healthcare companies pulled in $4.26 billion. The energy and utilities sector saw the biggest decline in investment, falling 90% year over year to $43 million.

Biggest deal to date announced in November

The largest transaction announced so far this year was from a private equity consortium targeting a company in the European media and telecom sector. KKR & Co. Inc., Global Infrastructure Management LLC and Tower Bridge Infrastructure Partners LP agreed to acquire an 81.7% stake in Vantage Towers AG from Vodafone for $17.56 billion.