Mega deals drive Q3 market value to €24bn

The Barometer, produced in association with Candover, found the total value of Europe's private equity market is now at its highest point since before the collapse of Lehman Brothers.

However, despite this major jump in value, deal volume decreased significantly, reaching its lowest level in over a year.

This suggests deal value has been driven by a number of major, multi-billion euro deals which have taken place in recent months, including the £2bn buyout of RBS Global Merchant Services, better known as WorldPay.

By contrast, the mid-market has seen a significant slowdown in activity after a relatively buoyant start to the year.

John Arney, managing director of Candover Partners, said: "It is encouraging that in addition to the more predictable larger secondary buyouts, Q3 witnessed the completion of some large primary deals, suggesting that sellers are out there and lenders' confidence continues to grow."

However, he remarked that the fall in mid-market activity was of concern, with no clearly identifiable cause for the sudden fall in activity.

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