New Delhi: Global private equity deals touched a record high of USD 76 billion in the April-June period, up by 33 per cent from the previous quarter, says a study.

The June quarter figures were up by 33 per cent from deals valued at USD 56.5 billion in the January-March period of 2011, according to data compiled by global research firm Preqin.

"During Q2 674 PE-backed buyouts valued at USD 75.6 billion were announced, surpassing the previous post-Lehman high of USD 67.4 billion from 689 deals in Q4 2010," it said.

With an exit transaction size of USD 120.1 billion, PE firms made an exit from 309 Companies, during the June quarter.

"There was a surge in global private equity deal and exit flow in Q2 2011, and once again it reached record levels," Private Equity Deals Manager Manuel Carvalho said.

The increase in PE deal flow is partially attributed to an increase in larger deals, with 21 deals valued at over USD 1 billion announced during second quarter, compared to 13 transactions in the first quarter of 2011, the report said.

Deal flow in Asia, however, witnessed a slight decrease from the previous quarter, with total pacts worth USD 6.3 billion being announced in the region in the second quarter, compared to those valued at USD 10.6 billion in the first quarter.

The quarter under review saw a surge in secondary buyouts globally, with secondary buyouts worth USD 24.4 billion announced during the June quarter, more than double the USD 11.5 billion announced during the March quarter of 2011.

The largest deal of the quarter was acquisition of a 70 per cent stake in Frac Tech by RRJ Management, Temasek Holdings, Chesapeake Energy Corporation and the CPP Investment Board in a deal valued at USD 3.5 billion.

This is followed by buyout of Securitas Direct by Hellman & Friedman and Bain Capital from EQT Partners for USD 3.3 billion.

During the June quarter, 309 PE-backed exits occurred, with an exit transaction size of USD 120.1 billion. This was a 47 per cent jump in aggregate exit value compared to the previous quarter, when exits valued at USD 81.5 billion took place.

"Exit flow hit all-time record levels of USD 120.1 billion globally in Q2 2011, with fund managers in recent quarters taking advantage of the return of trade buyers with high levels of cash at their disposal and relatively robust financial markets to begin to exit investments made during the buyout boom-era," Carvalho added.

(Agencies)