Market Insight
European private equity activity drops to 2005 lows
Findings from the latest unquote” Private Equity Barometer, published in association with SL Capital Partners, reveal a worrying drop in deal volumes, falling to the same level as Q4 2005.
SBOs account for 90% of €500m+ dealflow in Q3
The latest quarterly figures from unquote" data show that while the wave of secondary buyouts seems to have hit its apex in overall volume terms, such deals are still disproportionally prominent in the large-cap space.
Fundraising: Germany's drawing power
The number of funds raised by German players – and the amount of capital they have been able to draw in – has increased steadily in the post-crash years.
Private equity still greedy for restaurants & bars sector
The buyout of Côte Restaurant by CBPE adds to an already busy year for investments in the eating and drinking sector, with activity recorded so far in 2013 already exceeding that of the whole of last year.
Exit activity remains low despite headline deals
Although divestments have featured prominently in the news recently, figures seem to tell a different story. Alice Murray takes a look at this year's exit landscape
Large VC rounds: France outpaces neighbours
France was home to six of the 20 largest venture investments completed so far this year in Europe, with Germany following closely behind.
Early-stage deals further recover in Q2
Both the volume and overall value of early-stage activity registered a welcome uptick across Europe in the second quarter, according to unquote" data.
Germany shifts into overdrive in Q2
A string of mega-buyouts helped Germany secure the top spot on European buyout value tables in the second quarter of this year.
Q2: overall buyout value soars by 174%
The European buyout market recovered spectacularly in value terms in Q2 on the back of a string of mega-deals, but the overall volume of activity remains lacklustre.
Mid-cap valuations remain stable as dealflow stagnates
Mid-cap valuations
"Pass-the-parcel" deals creep up in H1
Secondary buyouts have accounted for 45% of the overall number of buyouts in the first half of 2013, the highest proportion witnessed since the onset of the financial crisis, according to unquote" data.
Family offices seek surge in deal origination
Family offices
2013 exit activity on course to match quiet 2012
Divestment activity figures so far this year highlight the exit environment remains tough for GPs looking to return cash to investors – although recent weeks have seen positive trends unfolding.
UK consumer sector exits at record levels
The number of UK consumer goods assets divested by private equity firms is at its highest level in 10 years despite the continued desolation suffered by the consumer market.
Value of UK early-stage investments holds steady
UK early-stage deal numbers are dropping off, but the total value invested has held steady over the last four years.
Turnaround deals hit five-year low
Turnaround deals
Holding periods stretching amid tough exit environment
Holding periods
Growth capital dealflow ebbs in Q1
Emphasising the pervasive nature of the activity decline in the first quarter of 2013, deal volume in the expansion category recorded a drop commensurate with that of the buyout market.
Large-cap market awakens after tepid Q1
European buyouts valued in excess of €500m have been conspicuous in their absence in the first quarter following a flurry at the tail-end of 2012 – but recent weeks have shown signs of a revival.
French buyouts up 50% YoY in Q1
The French buyout market enjoyed a much welcome uptick at the start of 2013, with both volume and overall value significantly up on Q1 2012 figures.
Germany: large-cap deals on the rise
CVC’s €3.1bn buy-back of German metering business Ista this month has sparked speculation about a revival of Germany’s large-cap market.
Q1 activity hits five-year low
The UK & Irelandтs first-quarter activity levels are at their lowest level for five years, according to the latest research from unquoteт data.
Family offices keen on bypassing GPs?
Nearly 60% of family offices polled in the Investec Family Office Intelligence Survey are considering investing in private equity. The headline figure is not the whole story, though.
IPO activity dwarfs 2012 after first quarter
Private equity-backed IPOs are making a major comeback and could be set to reach their highest level since 2010, according to figures from unquoteт data.