The total value of global private equity and venture capital entries climbed for a second straight month in November, to $47.07 billion, up 34% from the prior month, according to S&P Global Market Intelligence data.
On a year-over-year basis, aggregate deal value slid 8.8% from $51.60 billion.
The number of deals during the month totaled 848, down from 992 in October and 1,192 year over year.
Europe recorded the largest amount of private equity investment in November with $24.72 billion, up from $14.17 billion in November 2022. North America was next with $14.94 billion, up from $12.16 billion in November 2022.
In Asia-Pacific the value of private equity entries plunged 74% year over year to $6.21 billion.
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Measured by the year through Nov. 30, total deal value dropped 35.6% to $437.85 billion from $679.48 billion between January and November 2022.
The number of deals fell to 11,015 from 15,938.
TMT top sector
Technology, media and telecom was the most invested sector in November with 306 private equity-backed transactions. Within the sector, application software companies saw the highest number of deals with 151, although deal count went down from 217 transactions in November 2022.
The systems software subsector and interactive media and services subsector tallied 23 and 22 deals in November, respectively.
In the largest transaction in November, a private equity group comprising Permira Advisers Ltd., The Blackstone Group International Partners LLP, General Atlantic Service Co. LP and TCMI Inc. offered to buy online classifieds sites company Adevinta ASA for about 141 billion Norwegian kroner.
ABG Sundal Collier ASA and Goldman Sachs Bank Europe SE Amsterdam branch are acting as the private equity group's financial advisers. Freshfields Bruckhaus Deringer LLP, Latham & Watkins LLP, and Wikborg Rein Advokatfirma AS are providing legal counsel.
The biggest funding round during the month was the more than $500 million series B funding round of artificial intelligence company Aleph Alpha GmbH co-led by venture capital firm Robert Bosch Venture Capital GmbH.