Quarterly rolling one-year PE fund performance by size Download PitchBook’s Report here. Breaking down the data by fund sizes, middle-market buyout funds have outperformed megafunds for six consecutive quarters…. Subscribe to Read MoreAlready a member? Log in here...
Deals with nonbacked companies as targets as a share of all PE buyouts by quarter Download PitchBook’s Report here. Borrowing costs remain elevated and will likely stay that way for the remainder of 2024. As a result, PE firms continue to look further down market at companies with lower, more favorable purchase prices to compensate for…
Continuation-fund-related PE exit count Download PitchBook’s Report here. Looking ahead, the forces driving the recent acceleration in continuation funds remain in place. Traditional M&A and IPO exits recovered in H1 2024 but only modestly so. They remain well below historical averages relative to AUM and the 23,300 companies accumulated by PE funds in North America and…
PE exit/investment ratio Download PitchBook’s Report here. GPs need to address the oncoming maturity wall of their existing investments, and many are turning to continuation funds to extend exit timelines or secure liquidity without forced selling…. Subscribe to Read MoreAlready a member? Log in here...
PE take-private deal activity Download PitchBook’s Report here. In Q1, the number of middle-market take-private transactions saw a notable increase. We believe this reflects the cheaper valuations of public companies with small market caps relative to large caps, as well as reduced market volatility…. Subscribe to Read MoreAlready a member? Log in here...
Download PitchBook’s Report here. Revenue multiples saw a much more aggressive run-up to the peak reached in 2021 and a much faster descent thereafter. In Q1 2024, we saw initial signs of distressed selling and capitulation…. Subscribe to Read MoreAlready a member? Log in here...
Download PitchBook’s Report here. Worldwide, PE-backed exits remain sluggish midway through 2024. Pacing is difficult to assess with any exactitude, but should the first-half tallies of the year repeat, essentially 2024 would see the fewest exits since 2015, and the lowest exit value since 2013…. Subscribe to Read MoreAlready a member? Log in here...
Download PitchBook’s Report here. The share of carveouts in the deal landscape surged in Q1, representing 15.5% of the overall deal mix—the highest level since Q2 2013…. Subscribe to Read MoreAlready a member? Log in here...
Download PitchBook’s Report here. PE middle-market valuations reached their apex in 2021 and have declined sharply since. Closing out 2023, deal multiples in the middle market had declined by somewhere between 25.0% to 40.6% from their peak, depending on the yardstick used (EBITDA or revenue), and unlike the overall M&A market, there were no signs of…
Download PitchBook’s Report here. In PitchBook’s 2024 US Private Equity Outlook, we forecast this would be the year that continuation funds hit critical mass and would reach 100 or more exits of this nature…. Subscribe to Read MoreAlready a member? Log in here...