Private equity groups spent more on deals this year than at any time since the financial crisis, with dealmaking growing for a third consecutive year as the industry showed little sign of slowing down.
私募股权集团今年的交易支出达到金融危机以来的最高水平，交易活动连续第三年增长——该行业几乎没有出现放缓迹象。
The value of buyout deals worldwide hit $478bn in 2019, up from $460bn a year earlier and the highest amount since 2007, according to data from Refinitiv.
路孚特(Refinitiv)数据显示，2019年收购集团在全球实施的收购交易总额由上年的4600亿美元增加至4780亿美元，为2007年以来的最高水平。
Fuelled by cheap debt and large inflows of cash from pension funds and other investors seeking high returns in a low interest-rate environment, buyout groups are hungry for deals and willing to take on larger and more complex target companies.
在成本低廉的债务、养老基金和其他投资者在低利率环境下寻求高回报导致大量现金流入私募股权基金的推动下，收购集团对交易如饥似渴，并愿意收购规模更大、更复杂的目标公司。
“It has felt very busy,” said David Higgins, a private equity lawyer at Kirkland & Ellis in London. “Multiples have been high and there’s been a lot of competition for good assets. People feel the pressure to deploy all the equity they’ve raised.”
“感觉市场非常繁忙，”凯易律师事务所(Kirkland & Ellis)驻伦敦私募股权律师戴维•希金斯(David Higgins)表示，“估值倍数一直很高，对优质资产的竞争也很激烈。人们感觉到要把所筹集资金全部配置出去的压力。”
Mega-deals this year include Blackstone’s agreement in June to buy the US warehouses portfolio of Singapore-based GLP for $18.7bn in the largest private real estate deal in history.
今年的超大型交易包括黑石集团(Blackstone) 6月同意以187亿美元向总部设在新加坡的普洛斯(GLP)收购其美国仓库资产，这是有史以来规模最大的私人房地产交易。