The Wall Street Journal reported that global M&A volumes hit the $3 trillion mark on Tuesday, bolstered by a string of deals like private-equity firm Blackstone’s $4 billion deal to take Strategic Hotels private and Media General’s $2.4 billion deal to buy Meredith.

The Jorunal noted, according to data provided by Dealogic, volumes are 32% higher than the same period last year, and slightly below 2007’s record year when $3.2 billion of deals were struck at this point.

The Journal said, according to Dealogic, the value of U.S. targeted M&A topped $1.5 trillion Tuesday, the largest amount on record.