Summary: S&P Global Market Intelligence's data analysis found the volume and value of global private equity-backed deals worth $5 billion and above jumped in 2024, and the totals are on pace to challenge the 22-year record set in 2021.
Key highlights from S&P Global Market Intelligence's data and analysis include:
- Key Numbers:
- Megadeals numbered 13 for the year through July 29, up from eight such transactions for the entire 2023.
- Transaction value totaled $123.64 billion as of July 29, already exceeding the $75.20 billion for full year 2023.
- Largest Transactions:
- Apollo Global Management Inc. agreed to buy a 49% stake in a joint venture related to Intel Corp.'s factory in Ireland for $11.23 billion, while KKR & Co. Inc. and The Carlyle Group Inc. agreed to buy about $10.1 billion of prime student loans from Discover Financial Services.
- Apollo and KKR had estimated dry powder of about $42 billion each as of Aug. 12, and Carlyle had $22.75 billion.
- Technology-focused Silver Lake Technology Management LLC, which is taking sports and entertainment company Endeavor Group Holdings Inc. private in a $21.09 billion deal, had $18.40 billion in dry powder as of Aug. 12.
- Key sectors:
- Of the 13 transactions recorded in the year to July 29, five were in the technology, media and telecom sector.
- Silver Lake's take-private of Endeavor was the largest private equity deal of the year so far.
- The financial sector recorded four megadeals, while the energy and utilities sector had two.
- Megadeals per geography:
- The US and Canada led with seven megadeals for the year to July 29, up from the full-year 2023 total of six.
- Europe, including the UK, reported six transactions at $5 billion or above, already higher than annual totals for the region since at least 2019.
Please find the full analysis here by S&P Global Market Intelligence