DOCSLIB.ORG

The Comprehensive Review of Mergers and Acquisitions in the Americas Region

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Comprehensive Review of Mergers and Acquisitions in the Americas Region The comprehensive review of mergers and acquisitions in the Americas region FY 2019 Deal Drivers Americas mergermarket.com ACCELERATE YOUR DUE DILIGENCE FASTER. EASIER. SECURE. Our market-leading applications, services, and expertise, powers the entire M&A lifecycle, helping companies worldwide close more deals, faster. Learn more at merrillcorp.com Mergermarket Deal Drivers Americas FY 2019 3 Contents Contents The comprehensive Foreword 04 Life Sciences & Healthcare 48 Americas Heat Chart 05 Canada 54 review of mergers All Sectors 06 West 61 and acquisitions in Financial Services 18 Midwest 68 the Americas region Industrials, Manufacturing & Engineering 24 South 75 Energy, Mining, Oil & Gas 30 Northeast 82 throughout 2019. Consumer 36 Latin America 89 Technology, Media & Telecom 42 About Merrill DatasiteOne 97 mergermarket.com Mergermarket Deal Drivers Americas FY 2019 4 Foreword Foreword Welcome to the full-year 2019 edition of 2018 to US$87.4bn in 2019 on deal volumes These concerns, as well as rising tension Deal Drivers Americas, published by of 671 and 669 respectively. between the US and Iran, will remain on the Mergermarket in association with Merrill radar for dealmakers going into 2020, but In North America, the technology, media & DatasiteOne. The report provides a detailed steady economic growth, low interest rates telecom (TMT) and life sciences & healthcare review of M&A activity and trends across and unemployment, and strong stock markets industries were the standout areas for deal Mark Williams North and Latin America. should sustain M&A through the year ahead. activity. However, there was a steady stream of Chief Revenue Officer, The US presidential election in November M&A deal value in North America held steady transactions across all sectors through the year Americas, Merrill DatasiteOne could impact M&A as dealmakers hold off in 2019, delivering US$1.702trn worth of with the 20 largest deals in the region spread making big investments until the result is clear. deals across 6,493 transactions in 2019, only over defense, energy, services, chemicals, The outcome of the presidential poll will be fractionally down on the US$1.636trn of value financial services and leisure in addition to the closely observed in Canada and across Latin generated from 7,033 deals in 2018. two leading sectors. Latin America’s largest America, as it will influence US investment into deals were also divided among a variety of Despite the slight dip, 2019 was nevertheless these regions. sectors, including medical, financial services, the third best year for North American consumer, real estate and telecoms. Overall, however, strategics and PE firms have dealmaking since 2008. Both the Canadian cash at their disposal and the economic and US markets performed strongly through Private equity (PE) also had a solid year, fundamentals remain favorable, pointing to the year with the US market securing more rising to US$301.4bn from a decade high of another solid year for deals even though the than US$1.5trn worth of deals and Canadian US$300bn in 2018. Buyout volumes were geopolitical backdrop is still uncertain. deal value rising by almost a third on 2018 down from 2,117 deals in 2018 to 2,040 deals, levels to reach US$112.6bn for 2019. Such has but exit value rose from US$264.4bn in 2018 been the resilience of the North American to US$288.8bn in 2019. PE firms have been deal market that the region accounted for increasingly anxious about rising valuations, 66.9% of total global deal value and more but with record sums of dry powder at their than half of total global deal volume (52.6%) in disposal they will have to remain active. High 2019. In addition to steady domestic activity, valuations, however, will support further exits. transatlantic investment into the US climbed The sustained level of deal activity continued 50% to US$152.7bn in 2019, further illustrating through 2019 despite rising trade tensions the attractiveness of the region’s M&A markets between the US and China, a prolonged to overseas buyers. Latin America also had a period of uncertainty around the UK’s Brexit good year, as deal flow improved following a plans and a growing consensus that after series of elections across South America in a bull run, markets and the economy are 2018. Deal value climbed from US$74.9bn in approaching the top of the cycle. mergermarket.com Mergermarket Deal Drivers Americas FY 2019 5 Heat Chart Americas Heat Chart Our forward-looking Heat Chart shows the Another sector that has seen a significant Heat Chart based on potential companies for sale distribution of “companies for sale” stories increase since 2H18 is financial services, moving on the Mergermarket intelligence tool across from 160 stories last year to 190 in 2H19. Sector West South Northeast LatAm Midwest Canada Total sectors and regions in 2H19. The data reveals Meanwhile, despite trailing all US regions, both Technology, Media 178 110 103 80 61 29 561 that the technology, media & telecom (TMT) & Telecom Latin American and Canadian companies for sector had the most acquisition targets in sale stories were up on the previous year. Latin Life Sciences & Healthcare 98 118 96 17 74 24 427 the second half of the year with 561 — with 178 America saw 356 compared to 285 in 2H18, Industrials, Manufacturing 82 101 55 37 68 17 360 of those in the West region. That area of the & Engineering while the US’s northern neighbor was up year US also had the highest concentration of all on year by 25 stories to 161. The strongest Consumer 60 44 44 44 26 11 229 companies for sale at 596. sector for Canada was energy, mining, oil & Business Services 53 47 42 33 26 9 210 Indeed, TMT has by the far the most stories gas which saw a year-on-year increase of 10 Energy, Mining, Oil & Gas 36 40 17 52 16 33 194 of potential sales, even outside of Silicon potential sales to move up to 30. Financial Services 40 35 51 31 18 15 190 Valley and its confines. There were 103 in the One sector which is experiencing some Leisure 23 17 14 13 7 5 79 Northeast and 110 in the South as well as 80 weakness is consumer. Changing buyer reports from Latin America. The burgeoning Real Estate 7 4 9 10 3 7 40 habits, a raft of big-name bankruptcies and fintech industry in Brazil and beyond has Agriculture 8 2 4 10 4 8 36 restructurings coupled with the continued helped to boost these potential sales. strength of clicks over bricks has seen stories Transportation 3 8 4 16 3 1 35 Life sciences & healthcare is the second fall from 347 in 2H18 to 229 this year. This is Construction 3 5 2 13 1 2 26 highest sector with 427 stories in 2H19 — the likely to continue, although there are those Defense 5 9 4 1 19 that feel that distressed opportunities could US South and Northeast have provided Government 1 1 over half these stories. Across all regions, the boost the market, bringing further private biotech sector has been particularly active as equity money into the sector. Total 596 541 445 356 308 161 2407 companies compete with generics and seek products to fill their pipeline. Hot Warm Cold 140 80 20 120 60 10 100 40 1 Criteria of Heat Chart: Mergermarket’s sector Heat Chart is based on companies tagged as potential targets from 07/17/2019 to 01/16/2020. mergermarket.com Mergermarket Deal Drivers Americas FY 2019 6 All Sectors Part of the Acuris report on global M&A activity All Sectors mergermarket.com Mergermarket Deal Drivers Americas FY 2019 7 All Sectors All Sectors Overview North America’s deal market recorded steady led by Hellman & Friedman and Blackstone, Private equity power figures in 2019, consolidating the 15% growth also drove TMT dealmaking. PE deal activity continued apace after reaching in deal value in 2018. Deal value for North a ten-year high of more than US$300bn Energy boost American M&A came in at US$$1.702trn across in 2018. Buyout activity for 2019 edged In the EMOG sector, the reshaping of 6,493 deals in 2019, only fractionally down higher to US$301.4bn from this peak, but Canada’s gold industry with deals including on the US$1.636trn of deal value generated still represented the second highest year on the US$12.6bn tie-up between Newmont and from 7,033 transactions in 2018, according to record this decade. Buyout volumes moved in a Goldcorp, and megadeals in the US oil and Mergermarket data. similar direction, sliding from 2,117 deals in 2018 gas market, led by Occidental’s US$54.3bn to 2,040 deals. Exit value, however, climbed Despite escalating global trade tensions, which acquisition of Anadarko Petroleum, were from $264.5bn in 2018 to US$288.8bn in 2019 the IMF has forecast will reduce global growth highlights for the 2019 M&A year. However, as firms took advantage of the strong deal to its slowest pace since the 2008 financial a soft oil price and delays to pipeline market to sell assets at attractive valuations. crisis, deal activity has sustained the high levels construction in Canada meant that deal of previous years thanks to low interest rates value for 2019 was down on the US$387.4bn and steady stock market and GDP growth in worth of deals recorded for the sector in 2018. the US and Canada during the last 12 months. Healthy returns, consumer woes Tech the lead Deal value for the life sciences & healthcare The technology, media & telecom (TMT) sector more than doubled the 2018 total of sector accounted for the largest share of deal US$120.7bn.
Load more

Recommended publications
  • Private Equity Spotlight January 2007 / Volume 3 - Issue 1
    Private Equity Spotlight January 2007 / Volume 3 - Issue 1 Welcome to the latest edition of Private Equity Spotlight, the monthly newsletter from Private Equity Intelligence, providing insights into private equity performance, investors and fundraising. Private Equity Spotlight combines information from our online products Performance Analyst, Investor Intelligence and Funds in Market. FEATURE ARTICLE page 01 INVESTOR SPOTLIGHT page 10 Overhang, what overhang? The favourable market and difficulty of getting allocations to With 2006’s $404 billion smashing all previous records for top quartile funds has led to increased LP interest in Asian private equity fund raising, some commentators are suggesting focused funds. We look at LPs investing in these funds. that there is now an ‘overhang’ of committed capital that the industry may struggle to invest. The facts suggest otherwise. • How do LPs perceive Asian focused funds? PERFORMANCE SPOTLIGHT page 05 • Who is making the most Growth in distributions to LPs and the rate of call-ups are significant investments? driving the fundraising market. Performance Spotlight looks at the trends. • Which types of investor are the most active? FUND RAISING page 06 After a record breaking year for fundraising in 2006, we • How much is being committed examine the latest news for venture and buyout funds, as well to the region? as examining the market for first-time fund vehicles. No. of Funds on INVESTOR NEWS page 12 US Europe ROW Road All the latest news on investors in private equity: Venture 202 97 83 382 • State of Wisconsin Investment Board posts high returns Buyout 100 48 36 184 boosted by its private equity portfolio Funds of Funds 65 47 12 124 • Somerset County Council Pension Fund seeks new fund of Other 129 31 42 202 funds manager • LACERA looks for new advisor Total 496 223 173 892 • Indiana PERF is set to issue real estate RFPs SUBSCRIPTIONS If you would like to receive Private Equity Spotlight each month • COPERA close to appointing new alternatives chief.
    [Show full text]
  • Advancing the Role of the Finance Executive
    Advancing the role of the finance executive Built on the back of in-depth conversations with private equity CFOs, a 20-year heritage of our CFO community and the annual conference Contents » Connect. Evolve. Advance. » Past attendees list » Testimonials » Product offering » Messaging platform functionality » Unlock your networking opportunities with our virtual platform » Events 2 of 13 Advance your career Get direct access to industry peers and specialists who are tackling the same problems and obstacles you face. Benchmark your strategies and solutions to progress Connect. with confidence. Evolve. Advance your team Successful CFOs have a strong support team. Give Advance. your COO, CIO CCO, Finance Director and Controller The industry defining CFO & COO Forum All Access. Dive into a wide range of operational hot is now just one of the many essential topics from tax and compliance to recruitment, data updates we’ll give you throughout the year security management and cyber risk. with your CFO All Access subscription, designed around you to unlock: » Insider know-how – from CFO leaders at the top firms, to the innovators in the mid and lower market Advance your firm » Sector specific xpertisee – from technology to human capital to ESG The world is changing faster than ever – driven by macro issues such as climate change, a pandemic » Regulatory insight – direct from SEC global recession and political uncertainty. Progressive executives and directors strategies on ESG and diversity are no longer nice to » Authoritative market commentary – haves. LPs are directing capital to firms that take these from our acclaimed editorial team topics seriously and can show it.
    [Show full text]
  • Private Equity in Healthcare – an Updated Review of Selected Niche Investment Areas
    Private Equity in Healthcare – An Updated Review of Selected Niche Investment Areas SCOTT BECKER, PARTNER HOLLY BUCKLEY, PARTNER 312-750-6016 | [email protected] 312-849-3687 | [email protected] 77 West Wacker Drive, Suite 4100 77 West Wacker Drive, Suite 4100 Chicago, IL 60601-1818 Chicago, IL 60601-1818 ALYSSA C. CAMPBELL, ASSOCIATE GEOFFREY C. COCKRELL, PARTNER 312-750-3510 | [email protected] 312-849-8272 | [email protected] 77 West Wacker Drive, Suite 4100 77 West Wacker Drive, Suite 4100 Chicago, IL 60601-1818 Chicago, IL 60601-1818 ERIN E. DINE, ASSOCIATE TIMOTHY J. FRY, ASSOCIATE 312-750-3524 | [email protected] 312-750-8659 | [email protected] 77 West Wacker Drive, Suite 4100 77 West Wacker Drive, Suite 4100 Chicago, IL 60601-1818 Chicago, IL 60601-1818 JULIE K. LETWAT, COUNSEL AMANDA K. ROENIUS, ASSOCIATE 312-750-2777 | [email protected] 312-849-8157 | [email protected] 77 West Wacker Drive, Suite 4100 77 West Wacker Drive, Suite 4100 Chicago, IL 60601-1818 Chicago, IL 60601-1818 AMBER MCGRAW WALSH, PARTNER BART WALKER, PARTNER 312-750-3596 | [email protected] 704-343-8923 | [email protected] 77 West Wacker Drive, Suite 4100 201 North Tryon Street, Suite 3000 Chicago, IL 60601-1818 Charlotte, NC 28202 October 7, 2019 www.mcguirewoods.com McGuireWoods marketing communications are intended to provide information of general interest to the public. Marketing communications are not intended to offer legal advice about specific situations or problems. McGuireWoods does not intend to create an attorney-client relationship by offering general interest information, and reliance on information presented in marketing communications does not create such a relationship.
    [Show full text]
  • Tygris Commercial Finance Group, Inc. Launched with Over $1.75 Billion in Equity Commitments 5/20/08 8:41 PM
    Tygris Commercial Finance Group, Inc. Launched With Over $1.75 Billion in Equity Commitments 5/20/08 8:41 PM Tygris Commercial Finance Group, Inc. Launched With Over $1.75 Billion in Equity Commitments Newly Formed Commercial Finance Company Created to Support the Financing Needs of Middle Market Companies Largest Initial Capital Raise Ever in the U.S. Commercial Finance Sector Tygris to Acquire US Express Leasing, Inc. and MarCap LLC NEW YORK, May 20 /PRNewswire/ -- Tygris Commercial Finance Group, Inc. ("Tygris"), a commercial finance company, today announced its formation and funding with over $1.75 billion in equity commitments -- the largest initial capital raise ever in the U.S. commercial finance sector. Tygris has assembled a team of commercial finance industry executives with significant experience leading large commercial finance businesses. Frederick E. "Rick" Wolfert, formerly Vice Chairman of Commercial Finance of the CIT Group and President of Heller Financial Inc., is the Company's CEO. Tygris will initially have offices in Chicago, Stamford, CT and Parsippany, NJ. Tygris was founded by Aquiline Capital Partners LLC ("Aquiline"), a New York based private equity firm specializing in financial services, with New Mountain Capital, L.L.C. and TPG Capital joining as lead investors. Tygris' key investors also include Diamond Castle Holdings, LLC and Hamilton Lane. Tygris has established significant relationships with financial institutions including Deutsche Bank, Credit Suisse, SunTrust Robinson Humphrey, Barclays, Wachovia and Wells Fargo Foothill. Tygris was created to provide liquidity and growth capital to middle market companies throughout North America in response to the current credit market dislocation that has constrained the availability of such capital.
    [Show full text]
  • UNITED STATES SECURITIES and EXCHANGE COMMISSION Form
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year ended December 31, 2016 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-35537 COMMUNITY CHOICE FINANCIAL INC. (Exact name of registrant as specified in its charter) Ohio 45-1536453 (State or other jurisdiction of (IRS Employer Identification No.) incorporation or organization) 6785 Bobcat Way, Suite 200, Dublin, Ohio 43016 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code (614) 798-5900 Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
    [Show full text]
  • Private Equity
    PRIVATE EQUITY SPOTLIGHT www.preqin.com February 2006 Volume 2 Issue 2 Welcome to the latest edition of Private Equity Spotlight, the free monthly newsletter from Private Equity Intelligence, providing insights to private equity performance, investors and fund raising. Private Equity Spotlight combines information from our online products Performance Analyst, Investor Intelligence and Funds in Market, and our publications. FEATURE ARTICLE_____________________________ P1 INVESTOR NEWS ____________________________ P10 The Emerging Markets Opportunity: after years spent on All the latest news on investors in private equity: the sidelines, emerging markets private equity had a huge • WSIB surprises private equity observers fund-raising year in 2005 and the momentum looks set to continue in 2006. We explore the factors driving the market. • Ohio advertises for new CIO PERFORMANCE SPOTLIGHT ____________________P3 • Indiana Public Employees’ Retirement Fund set to revamp its private equity strategy Emerging Market Private Equity Funds: This month we look at how these funds have performed historically for the INVESTOR SPOTLIGHT _______________________ P11 vintage years 1994 - 2003. This month we focus on LPs’ interests in Emerging Markets Private Equity Funds. FUND RAISING _______________________________ P5 ⇒ An overview of the Private In addition to our usual look at buyout and venture fund Equity Asset Class in raising activity, this month we look at fund of funds, and also Emerging Markets. examine fund raising in emerging markets. ⇒ Who are the big players No. of Funds on US Europe ROW Total investing in Emerging Road Markets? Venture 171 74 68 313 Buyout 123 57 31 211 ⇒ Where are they looking to Fund of Funds 56 41 10 107 Other 46 16 18 80 invest? Total 396 188 127 711 ⇒ How are their strategies changing? SUBSCRIPTIONS _________________________________ *OUT NOW* If you would like to receive a free copy of Private Equity Spotlight each month please email [email protected].
    [Show full text]
  • The Rise of Private Equity Media Ownership in the United States: a Public Interest Perspective
    City University of New York (CUNY) CUNY Academic Works Publications and Research Queens College 2009 The Rise of Private Equity Media Ownership in the United States: A Public Interest Perspective Matthew Crain CUNY Queens College How does access to this work benefit ou?y Let us know! More information about this work at: https://academicworks.cuny.edu/qc_pubs/171 Discover additional works at: https://academicworks.cuny.edu This work is made publicly available by the City University of New York (CUNY). Contact: [email protected] International Journal of Communication 2 (2009), 208-239 1932-8036/20090208 The Rise of Private Equity Media Ownership in the United States: ▫ A Public Interest Perspective MATTHEW CRAIN University of Illinois, Urbana-Champaign This article examines the logic, scope, and implications of the influx of private equity takeovers in the United States media sector in the last decade. The strategies and aims of private equity firms are explained in the context of the financial landscape that has allowed them to flourish; their aggressive expansion into media ownership is outlined in detail. Particular attention is paid to the public interest concerns raised by private equity media ownership relating to the frenzied nature of the buyout market, profit maximization strategies, and the heavy debt burdens imposed on acquired firms. The article concludes with discussion of the challenges posed by private equity to effective media regulation and comparison of private equity and corporate media ownership models. The media sector in the United States is deeply and historically rooted in the capitalist system of private ownership. The structures and demands of private ownership foundationally influence the management and operation of media firms, which must necessarily serve the ultimate end of profitability within such a system.
    [Show full text]
  • 2017 UK Neds A4 Redone CO2.Indd
    The Class of 2016 New NEDs in the FTSE 350 2 FOREWORD At the time I took on my first non-executive role on a FTSE 350 Board, Tony Blair was Prime Minister of the United Kingdom, Steve Jobs had not yet launched the iPhone, and most of us were blissfully unaware of terms such as sub-prime lending, securitisation and credit default swaps. It is hard to believe that the year was 2006, barely over a decade ago. Bob Dylan told us that “times are a-changing” in 1964. But times are certainly changing faster now. From a corporate perspective, it is this speed of evolution – driven by economic, societal, political or technological developments – that keeps management teams and Boards up at night. However, more often than not, what appear as sudden, unexpected changes are but an aggregate of gradual, incremental steps. It is when we do not spot the early “movements” and premonitory signs of change that we find ourselves dangerously exposed to something that, in hindsight, should have been visible to those who had paid attention. As a Chief Executive and a Non-Executive Director I have always looked for those tools that could give me the “upper-hand” in dealing with the unknown and the unexpected. It is for this reason that I welcome The Class of report series published yearly by Korn Ferry. By analysing the small incremental changes occurring from one year to the next in the skills and backgrounds of each new generation of FTSE 350 Directors, and interpreting them in the context of the underlying trends of the past ten years, the Class of provides insight into how our Boards are evolving and, therefore, where companies and – by extension – societies are heading.
    [Show full text]
  • Q3 2017 Buyout Exits Through M&A
    52 | BUYOUTS | October 9, 2017 www.buyoutsnews.com 3RD QUARTER EXITS Q3 2017 Buyout Exits Through M&A Date Target Name Sponsor Industry Value ($mil) Acquiror 08/28/2017 HighJump Software Inc Accel Partners High Technology - Korber Logistics Systems GmbH 08/01/2017 inVentiv Health Inc Advent International Corp Media and Entertainment $4,279.60 INC Research Holdings Inc 07/18/2017 Sabart Aero Tech SAS AIAC Materials - Hangzhou Jinjiang Group Co Ltd 07/17/2017 Buffalo Parent Gulf Coast Terminals LLC Alinda Capital Partners LLC Financials $2,168.12 SemGroup Corp 07/13/2017 Reliance Home Comfort LP Alinda Capital Partners LLC Industrials $3,428.04 CKP (Canada) Holdings Ltd 09/18/2017 Quail Ridge Apartments,Plainsboro,New Angelo Gordon & Co Real Estate $190.00 Kushner Cos Jersey 09/18/2017 Altamira Santander Real Estate Sa-Cinema Apollo Global Management LLC Media and Entertainment - HIG Capital LLC Complexplaza Eboli 09/04/2017 Apollo Global Management LLC-Hotel Apollo Global Management LLC Media and Entertainment $629.60 INVESCO Real Estate Management Portfolio,Germany(13) Sarl 09/01/2017 Century 21 Real Estate LLC- Offices(2), Lake Apollo Global Management LLC Real Estate - Baird & Warner Real Estate Inc Zurich & Cary,IL 07/12/2017 Novitex Holdings Inc Apollo Global Management LLC Consumer Products and $2,800.00 Quinpario Acquisition Corp 2 Services 08/07/2017 Xbridge Ltd Aquiline Capital Partners LLC Financials $490.00 The Travelers Cos Inc 08/01/2017 Certara LP Arsenal Capital Partners LP Consumer Products and - EQT VII Ltd Services 08/09/2017
    [Show full text]
  • The 2008 Preqin Private Equity Performance Monitor - Sample Pages
    Sample Pages The 2008 Preqin Private Equity Performance Monitor - Sample Pages © 2008 Private Equity Intelligence Ltd 1 Sample Pages A Guide to the Performance of Private Equity Fund Managers © 2008 Private Equity Intelligence Ltd 2 Sample Pages Contents 1. Executive Summary 7 Fund of Funds 41 - DPI, RVPI and TVPI 2. Methodology 13 - Median Net IRR and Quartile Ranking - Fund Selection Performance 3. Overall Performance of Private Equity 19 - Relationship between Successor and Predecessor Fund - Fund Universe Mezzanine 45 - DPI, RVPI and TVPI - DPI, RVPI and TVPI - Median IRRs, Money Weighted IRRs and Pooled IRRs - Median Net IRR and Quartile Ranking - Performance by Geographic Region - Quartile Ranking by Fund Number - Relationship between Predecessor and Successor Fund Quartile Real Estate 49 - Experience Effect - DPI, RVPI and TVPI - Median Net IRR and Quartile Ranking 4. Performance by Fund Type 29 - Relationship between Successor and Predecessor Fund Buyout 31 Secondaries 53 - DPI, RVPI and TVPI - DPI, RVPI and TVPI - Median Net IRR and Quartile Ranking - Median IRR - Median, Weighted and Pooled IRRs Venture 55 - North American vs. European Buyout Funds - DPI, RVPI and TVPI - Large and Mega Buyout Funds - Median Net IRR and Quartile Ranking - Buyout Cash Flow Analysis - Median, Weighted and Pooled IRRs - Buyout Net Cash Flow by Vintage Year - Performance of Early Stage Funds - Performance at Different Points in Time - Performance of Industry Focused Funds - Relationship between Successor and Predecessor Fund Quartile - Venture Cash Flow Analysis Distressed Debt & Special Situations 39 - Venture Cash Flow by Vintage - DPI, RVPI and TVPI - Performance at Different Points in Time - Median IRR - Relationship between Successor and Predecessor Fund Quartile © 2008 Private Equity Intelligence Ltd 3 Sample Pages 5.
    [Show full text]
  • New from NEW Generictemplate.Indd
    today’s top stories from the deal pipeline WEDNESDAY MAY 11, 2011 For its most expensive acquisition, VOLUME 22 ISSUE 91 in this edition Microsoft wagers $8.5B on Skype By olaf de senerpont domis Hoping to succeed where previous Skype owner eBay failed, Microsoft’s $8.5 billion agreement to buy the Internet calling company represents a risky move to boost the software giant’s position as a Web communications powerhouse. Certainly, Skype’s voice-over-Internet-protocol calling and video-conferencing services have become so well known that the company’s name has become a verb, as Microsoft CEO Steve Ballmer noted during a webcast news conference on the transaction. But to successfully integrate the ac- quired company’s communications offerings across Microsoft’s products, including its Office suite, Xbox entertainment consoles, mobile phone software and enterprise communications tools, will take a high-degree of execution. One area where observers were particularly skeptical was the ability of Microsoft to trans- form Skype into a tool used by enterprises by somehow combining it with its relatively new Lync ‘AmeRicAn idOL’ product, which offers businesses a range of capabilities, such as instant messaging and audio and OwneR cKX SOLd video Web conferencing. to Apollo GlobAL “Skype, while having some nice communications features, is still a consumer-grade solution,” Taina Rosa writes that Analysys Mason analyst Steve Hilton wrote Tuesday. “Enterprises don’t want low-quality commu- Robert F.X. Sillerman, the nications services when dealing with customers.” n founder and former CEO of the target, is supporting FULL STORY > the deal.
    [Show full text]
  • HOW to MAKE $$$ in NYC TECH As the City’S Most Vibrant Sector Matures, Ways to Get in on the Growth Multiply
    CRAINSNEW YORK BUSINESS NEW YORK BUSINESS® FEBRUARY 6 - 12, 2017 | PRICE $3.00 HOW TO MAKE $$$ IN NYC TECH As the city’s most vibrant sector matures, ways to get in on the growth multiply. Just ask DataGryd’s NEW YORK BIZ Peter Feldman Page 17 FEELS TRUMP’S TRAVEL BAN P. 7 AND P. 9 BANKING ON BROADWAY CITY WANTS BIGGER SLICE OF AIR-RIGHTS PIE P. 19 OUT-OF- STATE CARS DRIVE THIS NEW YORKER CRAZY P. 20 VOL. XXXIII, NO. 6 WWW.CRAINSNEWYORK.COM NEWSPAPER P001_CN_20170206.indd 1 2/3/17 7:19 PM Dr. Richard Merkin and PRESENT THE Heritage Healthcare Innovation Awards 2017 NOMINATIONS NOW OPEN Who will make up the class of 2017? We are looking for exceptional leaders, pioneers and trailblazers in New York healthcare for the 2017 Heritage Healthcare Innovation Awards. These prestigious awards will recognize the best of today’s healthcare clinicians, administrators and researchers who are making measurable improvements in health status, improving access to healthcare, positively impacting patient quality of care and demonstrating long term aff ordability. Nominations close March 31st and finalists will be honored at a luncheon in NYC on May 22nd Mark Wagar, President, Heritage Medical Systems, Master of Ceremonies Finalists will be awarded in the following categories: ■ Heritage Innovation in Healthcare Delivery Award ■ Heritage Research Investigators in Translational Medicine Award ■ Heritage Healthcare Leadership Award ■ Heritage Healthcare Organizational Leadership Award ■ Heritage Innovators in Healthcare Award For more information, visit crainsnewyork.com/heritage The judging and selection process for fi nalists and winners in the 2017 Heritage Healthcare Innovation Awards is independent of the Crain’s New York Business newsroom Crain'sCN018148.indd Heritage 2017 1 Full Page MECH.indd 1 1/18/171/19/17 11:1212:19 AMPM FEBRUARY 6 - 12, 2017 CRAINSNEW YORK BUSINESS FROM THE NEWSROOM | JEREMY SMERD IN THIS ISSUE It’s Queens’ turn 4 AGENDA 5 IN CASE YOU MISSED IT MANHATTAN HAS THE HIGH LINE.
    [Show full text]