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 | PitchBook Newsletter | | Private Equity Edition |
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| Powered by the PitchBook Platform. Learn more» | | 523,319 Deals | 34,100 Funds | 22,637 Limited Partners | 26,563 Advisors | |
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THURSDAY, MARCH 31, 2016  | |
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Shift in quality dampens activity but keeps multiples high We ended 2015 on a down note and continued to experience a rather noticeable decline in PE deal activity as we moved through the first quarter of this year. Intuitively, the initial expectation would be that we'd start to see transaction multiples decline in an unsure market, along with a proliferation of the debt struggles we saw hurt deals in 2H 2015. That didn't occur, and despite the recent risk-averse behavior dealmakers have practiced, the lower supply of companies that did come to market toward the end of 2015 were welcomed by a healthy level of demand.
Subsequently, they were able to garner the multiples we've more or less been accustomed to over the past couple of years. Sponsored by Hilco Global and co-sponsored by Newstar Financial and Toppan Vite, our 2015 Annual Deal Multiples & Trends Report examines these occurrences, while also providing analysis regarding target company revenues and transaction fees, among other areas.
Click here to get free access to the report. |
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PitchBook's top 10 blog posts of March Unless you're one of the select readers who open our newsletter every single day (hi, mom!), there's a good chance you've missed some of our blog content over the past month. Fear not: We've compiled our 10 most read and shared posts from March into one neat and clean summary.
Click here for the roundup. |
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2009 Vintage U.S. Venture Funds with Retail Investments Pegasus boosts PanTheryx with $53M | Pegasus Capital Advisors has invested $53 million in PanTheryx, a life science company that develops medical nutrition products targeting the gastrointestinal system. | Pharmaceuticals Boulder, CO | | |
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| KKR is reportedly planning to sell SMCP Group, a luxury apparel retailer, to China-based textile group Shandong Ruyi (SZSE: 002193); the deal is said to value the company at €1.3 billion, including debt. KKR has backed SMCP since 2013. | |
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Allianz acquires Finnish wind assets | Allianz Capital Partners has purchased three wind parks in Finland from Impax Asset Management, bringing the firm’s total investment in renewable energy to more than €3 billion. The wind parks have a total capacity of 107.7 MW. | Infrastructure Munich, Germany |
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Pomona Capital IX targets $1.75B | Pomona Capital is seeking $1.75 billion for its next secondaries fund, according to an SEC filing. If raised to its target, the new vehicle would match the size of Pomona Capital VIII, a 2012 vintage fund. | |
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Carlyle eyes $1B for new Asia-focused fund | The Carlyle Group is looking to raise about $1 billion for a new Asia-focused fund, according to The Wall Street Journal. The firm collected $1.04 billion for Carlyle Asia Growth Partners IV, which launched in 2008. | |
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First-time tech growth fund underway at KKR | KKR has filed with the SEC to raise a debut fund dedicated to growth investments in technology companies; reports of the forthcoming vehicle first surfaced last fall. | |
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Ropes & Gray advises State Street Warburg Pincus names executive-in-residence | Jay Nadler has joined Warburg Pincus as an executive-in-residence in its Technology, Media & Telecommunications and Industrials & Business Services groups. He was previously the COO of Interactive Data. | |
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