Europe accounted for 19% fees paid to investment banks by the global private equity industry last year – the lowest share on record, according to Dealogic.

Banks earned $2.4bn from private equity forms in Europe in 2012, down from $3.4bn in 2011, when the region made up 26% of the global fee pool. Pronounced falls in financial sponsor revenues in France (47%) and Italy (62%) contributed to this.