In the context of the input sentence, determine the relationship between 'halved' and 'half'.
Options: owned by, stock exchange, product/material produced, distribution format

Private-equity firms completed 71 Japanese investments in the first half of this year, up from 60 in the same period the previous year, though the overall value nearly halved to $1.56 billion from $2.99 billion, according to S&P Capital IQ, a data and research provider.
product/material produced