High Tide for Secondary Buyouts It isn’t too surprising that secondary buyouts (SBOs) hit a record by count in 2014. Globally, 707 SBOs closed last year valued at a combined $116.9 billion. The latter… Login to Read More...
The PE-strategic battle continues PE firms and strategic buyers have been waging a deal war the past few years. Both sides have complained about the advantages the other side has, but most PE executives will readily admit… Login to Read More...
Hold times are leveling out Hold times for PE portfolio companies have been steadily creeping upward since about 2009, peaking around five and a half to six year medians…. Login to Read More...
Are funds-of-funds becoming obsolete? Funds-of-funds have been in the news lately, but not for good reasons. Some major LPs are talking about cutting their exposure to the asset class, possibly altogether…. Login to Read More...
The PE Fundraising Trail Never Looked So Good Blackstone CEO Steve Schwartzman made headlines this week after saying he has “begged, literally begged” young PE execs not to strike out on their own… Login to Read More...
The U.S. Company Inventory is Plateauing One of the concerns facing private equity over the past few years is the rising number of companies under PE control. The U.S. company inventory,… Login to Read More...
Record Year for Middle Market The U.S. middle market is usually responsible for ~60% – 70% of PE activity in any given year. Not in 2014. Last year the middle market accounted for 78% of all PE activity by count,… Login to Read More...
Expect More of the Same in 2015 Final PE numbers for 2014 are in. U.S. deal flow nearly matched 2013 levels at 2,955 investments, but the bigger story was in total value, which grew to $523 billion over 2013’s $501 billion…. Login to Read More...
The “new normal” has arrived We’ve been highlighting the increase in add-on and minority deals for a while. In some respects the rise of buy-and-build and non-control deals has reflected the tough deal-making… Login to Read More...
A Closer Look at Fees For several months now, the SEC has been keeping a closer eye on fee disclosures from PE firms, particularly whether they’re telling their LPs that transaction and monitoring fees are being charged to portfolio companies…. Login to Read More...