U.S. and Canada lead the way in global deal value.

Deal activity in the global private equity market surged in April, according to S&P Global Market Intelligence.

The value of deal-making totalled $65.1 billion (all figures in U.S. dollars) last month, S&P reported. That’s up 64.6% from the same month last year, even as the number of deals was down by about 5.6%.

Through the first four months of the year, total deal value reached $190.0 billion, up from $168.7 billion for the same period in 2023, S&P said.

In April, the U.S. and Canada accounted for the largest share of deal activity, with $47.7 billion worth of deals — up from just $12.7 billion in the same month a year ago.

In Europe, private equity activity came in at $8.5 billion, which was down by about 50% year over year.

The Asia-Pacific region generated $8.14 billion in deals, up from $6.16 billion in April 2023.

The technology, media and telecom sector generated the most deals by volume, with 328 private equity-backed transactions announced in April. Of those deals, 145 involved software apps.