Private equity firms are playing a larger role than ever in merger and acquisition deals, according to a report by Ernest & Young.

Private equity activity now represents 30 percent of the M&A market, surpassing the prior peak of 25 percent in 2006, according to the report, which is expected to be released Friday. Throughout the first three quarters of 2021, private equity firms were involved in $868 billion worth of acquisition deals globally, “putting the industry well within striking distance for its first trillion-dollar year on record,” EY said. READ MORE