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| PitchBook Newsletter | | Private Equity Edition |
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| Powered by the PitchBook Platform. Learn more» | | 574,402 Deals | 35,281 Funds | 22,819 Limited Partners | 29,389 Advisors | |
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Goldman Sachs raising first buyout fund since financial crisis U.S. PE firms slowly reducing inventory of aging portfolio companies | | | | Click to read our analysis |
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After climbing steadily for several years, the median hold period for U.S. PE-backed companies is down in 2016 across all exit types. Interestingly, the route that's seen the steepest decline is the secondary buyout.
Here are three reasons why |
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Recommended Reads Spend a good chunk of your time up in the air? A compilation of 10 innovations making travel better than ever. [Bloomberg]
With 2Q earnings calls getting underway, on the importance of listening to what PE managers are saying. [The Street]
Trying to fight the billion gallons of waste that enter the waterway each day, India is doing its best to clean the Ganges River. [The New Yorker]
Diving into the litigation nitty-gritty surrounding the attempted $2.2 billion buyout of ExamWorks by Leonard Green & Partners. [The New York Times] |
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The Daily Benchmark
2010 Vintage U.S. Venture Funds with Healthcare Investments
Completed PE Deals
L Capital Asia buys into Clio at $700M value
Pfingsten powers purchase of 24/7 Technology
CD&R acquires TRANZACT
Europe
Bregal, Motion to exit Morrison Utility to First Reserve
Gavin Manson hired as Electra CFO
Exit & Liquidity News
EQT offloads 49% stake in Econ Healthcare
PE-backed TPI Composites lowers IPO terms
Fundraising News
Baird Capital sets sights on $300M
Investor News
Blackstone reports promising 2Q
Service Provider News
GHF acts as advisor on OSI sale
2010 Vintage U.S. Venture Funds with Healthcare Investments L Capital Asia buys into Clio at $700M value Pfingsten powers purchase of 24/7 Technology | Pfingsten portfolio company Unified Power has acquired 24/7 Technology, a maintenance provider for the power services market in the U.S. Southeast. Pfingsten has backed Unified Power, a national service provider for the power industry, since 2011. | |
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CD&R acquires TRANZACT Bregal, Motion to exit Morrison Utility to First Reserve Gavin Manson hired as Electra CFO EQT offloads 49% stake in Econ Healthcare | Via its EQT Greater China II fund, EQT Partners has sold its investment in Econ Healthcare, a provider of elderly care services in Singapore and Malaysia, back to the company’s founder. EQT had acquired the company via public-to-private buyout during 2012. | |
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PE-backed TPI Composites lowers IPO terms | TPI Composites has filed new paperwork with the SEC, stating its intent to sell 6.25 million shares for between $11 and $12 per share when it debuts on the NASDAQ under the symbol TPIC. Less than two weeks prior, the company, a manufacturer of composite wind blades for turbines, filed plans to sell 7.25 million shares for between $15 and $17 apiece. TPI’s backers include Element Partners (32.2% pre-IPO stake), Landmark Partners (20.9%) and Angeleno Investors (18.5%). | |
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Baird Capital sets sights on $300M | Baird Capital will seek to raise $300 million for its first global buyout fund, according to an SEC filing. Baird invests primarily in the healthcare, industrial and technology & services sectors. | |
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Blackstone reports promising 2Q | Blackstone got the parade of 2Q earnings reports going last week, posting strong returns after a lackluster 1Q. Firm-wide, Blackstone reported economic net income of $520 million, up 40% from 1Q and up 2% YoY. Total AUM grew to $356.3 billion, up 7% YoY. Within its private equity business, Blackstone deployed $1.6 billion during the quarter, realized $3.8 billion and raised $7 billion for future use, increasing PE AUM to $99.7 billion, an 8% YoY climb. The firm declared a 2Q dividend of $0.36 per unit. | |
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GHF acts as advisor on OSI sale |
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