Despite record-breaking heat this past summer, PE deal activity stayed relatively cool, according to the data pulled from PitchBook’s 2H 2012 Private Equity Fundraising Report 3Q (requires free registration). In fact, private equity and venture capital investment recorded their third consecutive quarterly drop, with 342 deals totaling $58 billion completed in 3Q. At the same time, the energy and information technology sectors were the exceptions, with both recording modest upticks in investment activity.

On the brighter side, PE firms closed 28 funds totaling $35 billion in capital commitments during the quarter, making it the third best quarter in the last three years for PE fundraising. Exit activity also shows a warming trend, with 135 exits in 3Q 2012.