Private debt institutional, retail, and insurance AUM ($B) Download PitchBook’s Report here. Perpetual vehicles for the private wealth investor, also known as semiliquid funds, raised $122 billion in 2024…. Subscribe to Read MoreAlready a member? Log in here...
Identifying likely buyout take-private targets Download PitchBook’s Report here. Since the inception of the buyout strategy in the 1980s, buyout managers have maintained a core playbook: At a reasonable price, invest in relatively small, underperforming companies that still generate enough free cash flow (FCF) to service an increased debt burden…. Subscribe to Read MoreAlready a member?
Morningstar PitchBook Buyout Replication Index excess performance attribution (annualized) Download PitchBook’s Report here. A returns-based factor analysis using the Fama-French five-factor model plus momentum reveals that the positive alpha from security selection can be explained primarily by a higher market beta…. Subscribe to Read MoreAlready a member? Log in here...
Financial leverage for buyout deals by deal year Download PitchBook’s Report here. Greater leverage is another key distinguishing characteristic of buyout-backed companies. Over the past 10 years, the average publicly traded small-cap company has had a financial leverage ratio of total assets to market equity of around 1.4x…. Subscribe to Read MoreAlready a member? Log in
Hypothetical growth of $100 invested by index Download PitchBook’s Report here. PitchBook and Morningstar recently introduced their Buyout Replication index, which is snapshotted below in part…. Subscribe to Read MoreAlready a member? Log in here...
US PE EV/EBITDA multiples Download PitchBook’s Report here. Going forward, as deal volumes expand—especially among PE owners selling to other PE firms—a recent uptrend in EBITDA multiples may be short-lived…. Subscribe to Read MoreAlready a member? Log in here...
PE-backed company inventory by deal year Download PitchBook’s Report here. 2024 has ended with a record-low exit/ investment ratio of 0.36x, as dealmaking activity once again races ahead of exits…. Subscribe to Read MoreAlready a member? Log in here...
Carveouts/divestitures as a share of all US PE buyouts by quarter Download PitchBook’s Report here. Carveouts accounted for 11.8% of all US PE buyouts in Q4 2024, a sequential quarterly increase…. Subscribe to Read MoreAlready a member? Log in here...
US industrials PE deal activity Download PitchBook’s Report here. Industrials PE activity was relatively strong in 2024, with industrials seeing an estimated 1,799 deals and $135.8 billion in deal value—accounting for 21.2% of total deal activity by deal count during the period, compared with an average of 24.5% of total deal activity over the past five years…. Subscribe to Read
Platform LBO and growth equity deals as a share of all US PE deals Download PitchBook’s Report here. Growth equity continues to represent an outsized share of deals…. Subscribe to Read MoreAlready a member? Log in here...