Global private equity dealmaking fell sharply in August. Still, healthcare emerged as the standout sector, helped by KKR & Co.’s (NYSE:KKR) $5.89 billion agreement to acquire medical-device maker Integer Holdings Corp.
Global private equity transaction value fell 68.1% month-over-month to $22.39 billion in August from $70.30 billion in July, according to S&P Global Market Intelligence. Deal volume also dropped 45.5% to 145 transactions from 266.
The decline ended a two-month rally and marked a 58.6% drop from the $54.15 billion invested in August 2025.
Private Equity Slumps, Healthcare Shines
Healthcare, however, accounted for the largest share of private equity capital during the month. The sector attracted $8.27 billion in August, representing 37.4% of total global private equity investment, according to S&P. Technology, media and telecommunications followed with $6.51 billion, or 29.5% of total investment.
KKR’s agreement to acquire Integer was the largest private equity transaction of the month. The firm agreed to pay $5.89 billion for the NYSE-listed medical-device contract development company, with the deal expected to close by the end of this year.
KKR also appeared among the buyers behind another major healthcare transaction in August: the $1.39 billion acquisition of Medicover Hospitals India of Sahyadri Healthcare Pvt. Ltd., according to S&P’s ranking of the month’s 10 largest private equity deals.
Together, the two KKR-backed healthcare transactions highlight the concentration of capital in the sector during a month when the broader private equity market contracted sharply.
Other major deals reflected continued activity across other parts of the market. Trustar Capital agreed to a $2 billion transaction involving Guangzhou Lingxi Interactive Entertainment Co. Ltd., while a group including K5 Global Advisors and EE Capital agreed to a $1.89 billion transaction involving Liverpool Football Club and Athletic Grounds Ltd.
Aeroplan Inc. also ranked among August’s largest transactions, with Public Sector Pension Investment Board, British Columbia Investment Management Corp., La Caisse de dépôt et placement du Québec and Blackstone among the investors in the $1.79 billion deal.
Despite the August slowdown, private equity investment remained ahead of last year on a year-to-date basis.
Global private equity investment reached $354.41 billion through Aug. 31, up 13% from $312.63 billion during the same period in 2025. Deal volume, however, fell 13% year-over-year to 1,784 transactions from 2,060.
The figures suggest that while private equity investors completed fewer transactions, significant amounts of capital continued to flow into larger deals and favored sectors such as healthcare.
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