The value of private equity deals slowed during the third quarter, according to the Private Equity Index published by the Private Equity Growth Capital Council.
The index dropped to 88.6 as of Sept. 30, down from 105.3 the previous quarter. The Private Equity Index uses metrics based on consolidated data from PitchBook, Preqin, Thomson Reuters and the PEGCC, an advocacy, research and resource organization that develops, analyzes and distributes information about the private equity industry.
Private equity-backed investment deals fell to $58 billion in the third quarter from $67 billion the previous quarter.
Commitments to buyout funds totaled $23.3 billion among 67 funds in the third quarter, down from $27.8 billion among 59 funds the second quarter, but up from the third quarter of 2010, which totaled $13.3 billion among 54 funds.
So-called Dry powder — capital available for deals — for buyout funds totaled $385 billion in the third quarter.