August — officially slow

This won’t be a revelation to private equity bankers — but August was officially quiet for deals.

The summer month typically marks a dearth of transactions as bankers head out to the beach, but last month was exceptionally slow.

The dollar value of deals involving private equity sank to the lowest for four years, $21.7 billion globally on 206 deals, according to data from Thomson Reuters.

Two years ago, private equity deals during the August heat — which already post-dated the initial popping of the credit bubble — amounted to $47 billion.

With just months to go before bonuses are calculated, the pressure’s surely on to make up some of the dealflow before year end.