According to the man on the street, multiples nowadays stand at around 7x EBITDA for assets, up to 9x if it’s a ‘quality asset’ (meaning it stands at 9x, since I know of no GP willing to admit he buys low-quality assets). This is down markedly from the double-digits seen yesteryear when leverage was plentiful and Lehman Brothers still existed.
Noerr’s Holger Ebersberger and Latham & Watkins’ Hanno Witt to join the firm’s Munich office
London-headquartered GP invested in AI provider MIcompany in first deal for new strategy this week
VC firm aims to raise USD 75m-150m from private and public investors including blue-chip institutional LPs in Europe, MENA and US
More than twice the size of its 2019 predecessor, the vehicle will allow for larger equity tickets, more investments and bolt-ons