Global private equity fund performance in the first half of 2019 has continued to decline from 2017’s record high, according to data provider eFront.

In the first two quarters of 2019 leveraged buyout funds around the world delivered an average multiple of 1.44x on invested capital, a decrease from the 1.46x recorded in the last quarter of 2018 and well below the 10-year high of 1.49x recorded in the third quarter of 2017, according to the software provider’s latest Quarterly Private Equity Performance report.