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Bailey McCann, Opalesque New York:

The fourth quarter is capping off a tough year for private equity and venture capital. Data from S&P Global shows that the number of terminated deals ticked up in the fourth quarter, and the number of private equity-backed companies that filed for bankruptcy also increased in 2022.

About 10.5% of all terminated deals by volume based on data collected through Dec. 15 involved a private-equity backed company. Of the $192.21 billion worth of terminated M&A deals in 2022 through Dec. 15, private equity was involved in deals with an announced value of $66.29 billion, or about 34.5% of the total, data from S&P Global shows. Broken deals had been on a fairly steady decline, but changing market conditions have had an impact.

Bankruptcies are also on the rise. Forty-nine private equity portfolio companies have filed for bankruptcy in 2022, representing 6.6% of total filings in the U.S., according to S&P Global Market Intelligence data as of Dec. 9. This compares with 42 portfolio companies that filed the previous year, representing 3.5% of the total.

The majority of filers are going into restructuring, which could indicate some underlying strength in companies - especially if those restructurings are successful.

The two sectors hit the hardest were consumer companies and healthcare companies. Companies in both sectors are s......................

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