(New Energy World Network) - The value of private equity and venture capital investment in the cleantech sector more than tripled in May 2010 to $1.22bn from $352m in April 2010, boosted by an institutional buyout worth $800m, according to a report from ZEPHYR and Bureau van Dijk, compiled exclusively for NewNet.

This was the highest leveraged buyout result since May 2009 when a total of $2.64bn-worth of deals were recorded.

Despite this encouraging improvement in monetary terms the volume of private equity activity fell back 28 per cent over the four weeks to 13 deals in May from 18 transactions April and was almost a third lower year-on-year from 19 deals in May 2009.

US cleantech companies were the most frequent targets of private equity investment in May with a total of six deals signed off over the four weeks worth $1.02bn. In monetary terms, value for the region was five times higher month-on-month from $96m in April and represented 83 per cent of the total value of $1.22bn, hardly surprising when three of the top five leveraged buyouts for the month targeted US companies.

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