Large deals dominated the European buy-out market in the last quarter, boosting the value 22% to €22.4bn ($24.3bn), although the optimistic outlook was offset by new figures revealing the number of deals has continued to slide.

Figures from Initiative Europe, the data provider, revealed private equity deals in the last quarter hit their highest value in 18 months, mostly owing to buy-out deals, which rose in value for the third consecutive quarter.