The aggregate transaction value and volume of private equity and venture capital entries globally were down significantly in February, according to data from S&P Global Market Intelligence.

Overall private equity entries for the month totaled $30.32 billion, falling 57% from $71.18 billion in February 2022. The number of deals declined 47% to 847, from 1,596 a year earlier.

On a year-to-date basis, private equity entries amounted to $57.82 billion through Feb. 28, down 58% from $138.17 billion a year ago. Deal volume slowed to 1,850, a 43% year-over-year decline from 3,264.

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In February, U.S. companies secured 47% of all private equity and venture capital entries worldwide. Deal value in the country totaled $14.3 billion across 286 transactions that included announced whole-company and minority stake acquisitions as well as rounds of funding.

This was followed by companies in Europe, which saw 250 deals that accounted for 30% of the total value. Asian enterprises were involved in 267 transactions comprising 16% of total deal value.

The financial market recorded the highest transaction value in February at $8.04 billion, followed by the technology, media and telecommunications sector with $7.43 billion. The top five transactions in February were all worth more than $1 billion.

In the most expensive transaction for the month, affiliates of Clayton Dubilier & Rice LLC signed a definitive agreement to acquire New York-based wealth management services provider Focus Financial Partners Inc. in an all-cash transaction valued at $4.23 billion. Funds managed by Stone Point Capital LLC will keep a portion of their investment in Focus. The acquisition is expected to close during the third quarter.

The second-largest deal was Apollo Global Management Inc.'s proposal to acquire John Wood Group PLC, a U.K.-based engineering solutions provider. John Wood has so far rejected four offers from Apollo. The latest proposal values Wood shares at 237 pence, which the company said continues to undervalue the group. The bidder has until March 22 to either announce a firm intention to make an offer for Wood or announce that it does not intend to make an offer.