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
B2B is Booming The U.S. B2B industry has seen some of the strongest and most consistent activity from PE investors over the past three quarters. About $153.6 billion has been invested through Q3 2014, including another $44.6 billion in the third quarter. 2014 has already seen over $40 billion… Subscribe to Read MoreAlready a member?
Q3 Deal Flow in Europe: Speed Bumps Remain 2014 hasn’t been the banner year industry professionals were expecting in Europe. Private equity (PE), venture capital (VC) and growth investment deal counts were soft in 3Q, which likely means that 2014 will end the year well below… Subscribe to Read MoreAlready a member? Log in here...
PE is Back in the Healthcare Space The first and second quarters were two of the best quarters for PE capital invested in the healthcare space since the ACA was passed. And three consecutive quarters, 3Q 2013 to 1Q 2014, all saw higher deal flow in the industry than in the boom days… Subscribe to
Deal Flow Continued to Decline in 3Q PE deal flow in the U.S. continued to subside through 3Q. 588 deals were completed last quarter totaling $110.1 billion in capital invested. Deal flow is down 27% from the first quarter and capital invested declined 23% in the same period.One of the major culprits for both decreases…
Mega-deals Down, Mega-exits up Few investors are as opportunistic as PE firms, which need to invest at entry points low enough (and exit high enough) to justify their investment models. With valuations where they are right now,… Subscribe to Read MoreAlready a member? Log in here...
Like the overall PE market, valuations for middle-market companies are elevated. The median valuation-to-EBITDA multiple in 1H 2014 was 10.7x, up from 10.2x last year. Despite those steep price tags,… Subscribe to Read MoreAlready a member? Log in here...
Are Valuations Pushing Out Closing Times? PitchBook recently conducted a survey with Hilco Global of private equity deal terms and valuations…. Subscribe to Read MoreAlready a member? Log in here...