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,… Subscribe to Read MoreAlready a member? Log in here...
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…. Subscribe to Read MoreAlready a member? Log in here...
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… Subscribe to Read MoreAlready a member? Log in here...
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…. Subscribe to Read MoreAlready a member? Log in here...
Retail Wars: M&A and PE Activity Diverging Poor consumer sentiment hasn’t really dampened enthusiasm among private equity investors, which continue to target… Subscribe to Read MoreAlready a member? Log in here...
A Soft Fourth Quarter This Year We’ve heard from some industry professionals that fourth quarter deal flow is probably going to be softer than normal this year. The first two months of 4Q 2014 have seen 440 PE deals close in the U.S. worth a combined $90.9 billion…. Subscribe to Read MoreAlready a member? Log
PE Sentiment is Strong in the Consumer Sector Black Fridays mean spending and acquiring, often with a little competition thrown in the mix. What’s true for regular consumers has also been true of PE investors, which have been jostling with strategic… Subscribe to Read MoreAlready a member? Log in here...
Bigger is Better in PE, but For How Long? Bigger is still better in the global PE industry. Funds managing at least $1 billion are outpacing the $250 million–$1 billion and sub-$250 million size buckets at the 1-, 3-, 5- and 10-year IRR horizons, by significant margins in some cases. At the lower… Subscribe to
Software Deal Valuations are Soaring The software sector commands an outsized share of PE dollars. About 70% of all 1Q-3Q capital invested in U.S.-based IT companies went to software, the highest percentage on record. $33.3 billion has been invested this year… Subscribe to Read MoreAlready a member? Log in here...
Canada Keeps Recovering PE activity in Canada recovered well from the recession, and unlike its neighbors to the south, deal flow and capital invested has remained elevated, even in 2014. The past two quarters have seen total value go past the C$10 billion mark, with Q2 and Q3 representing the… Subscribe to Read MoreAlready a