Q3 2015 Private Equity-Backed Buyout Deals and Exits Download Q3 2015 Data 1St October 2015 Page 1 of 3

Q3 2015 Private Equity-Backed Buyout Deals and Exits Download Q3 2015 Data 1st October 2015 Page 1 of 3

Fig. 1: Quarterly Number and Aggregate Value of Private Fig. 2: Quarterly Aggregate Value of Private Equity- Fig. 3: Breakdown of Number and Aggregate Value of Equity-Backed Buyout Deals Globally, Q1 2012 - Q3 2015 Backed Buyout Deals by Region ($bn), Q1 2012 - Q3 2015 Private Equity-Backed Buyout Deals in Q3 2015 by Type

1,200 120 120 100% 3% 1% 1%3% 10%

Aggregate DealValue ($bn) 90% 102 5% 1,000 100 100 100 6.9 17% 94 2.1 7.3 80% 7% 91 4.5 5.2 4.2 86 87 3.8 85 83 85 5.9 4.0 5.8 2.3 70% 800 79 80 80 14.9 4.9 13.6 5.3 8.0 12.5 20.4 72 73 2.0 7.9 12.6 20.8 70 7.8 3.9 3.6 39.1 60% 66 5.2 2.2 9.4 17.6 39% 7.6 600 60 60 13.1 27.7 8.0 19.0 50% 28.6 30.1 1001 30.8 17.5 66% 42 959 982 936 938 17.1 21.3 869 905 874 2.5 19.3 40% No. of Deals 854 859 839 846 846 834 400 798 40 40 3.9 72.6 67.0 30% 14.6 Proportion of Total 52.6 50.7 55.6 51.4 43.9 44.3 20% 200 20 20 40.3 35.6 36.8 38.7 41.7 38.7 37% Aggregate Deal Value ($bn) Aggregate Deal Value 21.5 10% 11% 0 0 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Number of Deals Aggregate Deal Value 2012 2013 2014 2015 2012 2013 2014 2015 Add-on Buyout Growth Capital Number of Deals Aggregate Deal Value ($ bn) North America Europe Asia Rest of the World PIPE Public To Private Recapitalisation

Fig. 4: Breakdown of Number and Aggregate Value of Private Equity-Backed Buyout Deals in Q3 2015 by Value Fig. 5: Breakdown of Number and Aggregate Value of Band Private Equity-Backed Buyout Deals in Q3 2015 by Industry Key Facts

100% 35% 9% 30% 90% 30% 8% Aggregate buyout deal value in Q3, a 17% 80% $85bn 16% 25% 23% drop from Q2. 70% 64% 20% 60% 17% 17% 16% 15% 15% 14% 15% 13% 50% 12% 10% 8% 40% 7% Proportion of Total 5% 6% 6% No. of buyout deals done in Q3, a 7% decrease 4% 30% 13% 5% 3% 2% from Q3 2014. Proportion of Total 874 51% 1% 1% 1% 20% 0% 13% 10% 6% 0% 4% Other Utilities Business Services Retail Energy & Materials Media Food &

Number of Deals Aggregate Deal Value Industrials Agriculture Healthcare Telecoms & Information Technology Less than $100mn $100mn - $249mn $250mn - $499mn Consumer & Drop in European buyout deal value from Q2. $500mn - $999mn $1bn or More Number of Deals Aggregate Deal Value 55%

Fig. 6: Global Number and Aggregate Value of Private Fig. 7: Global Number of Private Equity-Backed Exits by Fig. 8: Global Private Equity Buyout Fund Dry Powder, Equity-Backed Exits, Q1 2012 - Q3 2015 Type, Q1 2012 - Q3 2015 December 2006 - September 2015

500 160 500 600 450 450 144 140 Aggregate ExitValue ($bn) 7 13 14 9 11 17 10 500 482 482 487 400 400 16 8 122 120 125 116 6 439 447 116 16 13 135 423 350 350 17 95 144 110 14 96 127 127 109 388 399 103 102 100 12 111 400 379 300 96 97 300 79 111 110 353 94 91 94 87 94 90 98 73 250 80 250 56 49 89 69 47 76 79 300 447 448 444 446 49 79 99 418 420 413 51 81 72 200 398 383 383 394 200 51 No. of Exits 355 378 60 No. of Exits 344 325 150 51 52 150 200 40 230 231 230 Dry Powder ($bn) 100 100 219 207 225 221 217 229 185 168 178 183 187 177 50 20 50 100 0 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 0 2012 2013 2014 2015 2012 2013 2014 2015

No. of Exits Aggregate Exit Value ($ bn) Trade Sale IPO Sale to GP Restructuring Sep-15 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14

Fig. 9: 10 Largest Private Equity-Backed Buyout Deals Announced Globally in Q3 2015

Investment Deal Size Bought From/Exiting Primary Firm Deal Date Deal Status Investors Location Type (mn) Company Industry Veritas Buyout Aug-15 8,000 USD Announced Carlyle Group, GIC Symantec Corp US Software Solera Holdings Buyout Sep-15 6,500 USD Announced Goldman Sachs, Koch Industries, Vista Equity Partners US Software CPP Investment Board, MBK Partners, PSP Investments, Homeplus Buyout Sep-15 4,200 GBP Announced Tesco South Korea Retail Temasek Holdings Abu Dhabi Investment Authority, Goldman Sachs Metzler Asset LeasePlan Corporation N.V Buyout Jul-15 3,700 EUR Announced Merchant Banking Division, Pension Fund for General Management, Netherlands Transportation Practitioners, TDR Capital Volkswagen AG Financial Arnhold and S. Bleichroeder Holdings Buyout Jul-15 4,000 USD Announced Blackstone Group, Corsair Capital TA Associates US Services Hellman & Friedman, Datatel, Inc. Buyout Aug-15 3,500 USD Announced Leonard Green & Partners, TPG US Software JMI Equity Ally Bridge Group, Boyu Capital, Hillhouse Capital Public To Wuxi PharmaTech Co., Ltd Aug-15 3,300 USD Announced Management, Ping An Insurance Group, Temasek China Outsourcing Private Holdings Con-way Inc. Add-on Sep-15 3,000 USD Announced Jacobs Private Equity, XPO Logistics US Transportation Belk, Inc. Buyout Jul-15 2,700 USD Announced Sycamore Partners US Retail Far EasTone Telecommunications Co., Morgan Stanley China Network Systems Buyout Jul-15 2,300 USD Announced MBK Partners Taiwan Media Private Equity Asia

Fig. 10: 10 Largest Private Equity-Backed Exits Announced Globally in Q3 2015

Investment Deal Size Exit Exit Value Primary Firm Investment Type Investors (Entry) Exit Type Acquiror (Exit) Location Date (mn) Date (mn) Industry Bain Capital, Blackstone Group, Goldman SunGard Data Sachs Merchant Banking Division, KKR, Mar-05 Public To Private 11,400 USD Aug-15 Trade Sale 9,100 USD FIS Global Software US Systems Inc. Providence Equity Partners, Silver Lake, TPG Carlyle Group, China Everbright Focus Media Dec-12 Public To Private 3,700 USD International, CITIC Capital, Fosun Sep-15 Trade Sale 45,700 CNY Hedy Holdings Digital Media China International, FountainVest Partners Abu Dhabi Investment Authority, Allianz Consumer Tank & Rast Nov-04 Buyout 1,104 EUR Terra Firma Capital Partners Aug-15 Trade Sale 3,900 EUR Germany Capital Partners, Services Borealis, Munich Re Arnhold and S. Blackstone Group, Financial Bleichroeder Sep-07 Buyout - TA Associates Jul-15 Sale to GP 4,000 USD US Corsair Capital Services Holdings Amdipharm Mercury Amdipharm Group, Cinven, Mercury Mar-13 Merger - Sep-15 Trade Sale 3,500 USD Concordia Healthcare Pharmaceuticals UK Company Ltd Pharma Group Limited Leonard Green & Datatel, Inc. Nov-09 Buyout 570 USD Hellman & Friedman, JMI Equity Aug-15 Sale to GP 3,500 USD Software US Partners, TPG HNA Group Company Swissport Nov-10 Buyout 900 CHF PAI Partners Jul-15 Trade Sale 2,730 CHF Transportation Switzerland Limited Avolon Aerospace Cinven, CVC Capital Partners, Oak Hill Bohai Leasing Co., May-10 Buyout 1,400 USD Sep-15 Trade Sale 2,600 USD Aerospace Ireland Limited Capital Partners Ltd. AVINTIV Oct-10 Public To Private 326 USD Blackstone Group Jul-15 Trade Sale 2,450 USD Berry Plastics Materials US Guardian Financial Financial Aug-11 Buyout 275 GBP Cinven Jul-15 Trade Sale 1,600 GBP Swiss Re UK Services Services

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