Public PEGs got much bigger last year Download PitchBook’s Report here. 2021 was bumper year for public PE firms. PitchBook’s latest Analysis of Public US PE Firm Earnings has several interesting breakdowns, but YoY AUM trends stand out. Blackstone, KKR, Apollo, Carlyle and Ares all increased their AUMs, some more than others. KKR led the way,…
Fewer emerging lenders in 2021 Download PitchBook’s Report here. 2021 marked a decade low for “emerging firm” private debt fundraising, according to PitchBook’s Annual Global Private Debt Report. Only 64 private debt funds were raised last year by emerging firms, down from 145 in 2020. Before 2021’s slowdown, emerging lenders raised at least 100 private debt…
“Too much capital chasing too few deals”? Download PitchBook’s Report here. “Too much capital chasing too few deals” is a common refrain in the direct lending market. Is it true? It doesn’t appear to be, according to PitchBook’s Annual Global Private Debt Report. Globally, the direct lending market has about 2.5 years of dry powder on…
Quarterly IRRs returning to earth Download PitchBook’s Report here. PE performance bounced back strongly following the pandemic, but that momentum appears to be slowing. PitchBook’s just-released Global Fund Performance Report estimates a 3.4% quarterly IRR return for Q3 2021, where the data is preliminary. If that holds as we process more data, Q3 2021 will be…
PE a growing presence in M&A Download PitchBook’s Report here. PE deal flow accounted for 38% of global M&A transactions in 2021, a new high. That’s according to PitchBook’s Annual Global M&A Report, released this morning, which also showed a record year for M&A overall. Globally, 38,231 transactions were finalized last year, a 48% leap over…
162 exits of at least $1 billion Download PitchBook’s Report here. The US PE market enjoyed a wave of big exits last year, according to PitchBook’s just-released Annual Breakdown Report. 2021 was a blockbuster year for exits, fueled in large part by billion-dollar-plus sales. PitchBook counted 162 such exits, by far the most we’ve ever recorded,…
A trillion-dollar year Download PitchBook’s Report here. The US PE market topped $1 trillion for the first time, according to PitchBook’s just-released Annual Breakdown Report. 2021’s $1.2 trillion performance was more than 50% higher than the previous record. Deal volume also spiked, with 8,624 transactions altogether. That’s also a new record – the US market had…
Predicting the year ahead Download PitchBook’s Report here. Every year, PitchBook gets into the prediction game. This year’s US Private Equity Outlook has 7 predictions, including an intriguing one for middle market software investment. 2021 set records for PE software activity – 317 deals totaling $45 billion in aggregate value. For 2022, we’re predicting 400 software…
The top-heavy fundraising market Download PitchBook’s Report here. Last week we highlighted PitchBook’s new Quantitative Perspectives report, US PE: Recovery and Beyond, which features a number of vivid findings that are worth checking out. The chart above highlights how much oxygen is taken up by the biggest PE funds in the United States. In 2021, for…
Quantifying the recovery Download PitchBook’s Report here. It’s no secret that private equity is having a big year. A new PitchBook Quantitative Perspectives report, US PE: Recovery and Beyond, helps put this year into historical context. The past few quarters have been such a pronounced recovery that deal volume is now well above the 20-year, long-term…