piotrk

LP Scorecard: Ten young funds off to a hot start for Montana

In the vast frontier of Big Sky Country, the Montana Board of Investments pension fund resides over $2.3 billion in committed capital. In order to take a look at the promise of future gains, we pulled out the top funds from 2010-14 by IRR from Montana’s latest performance data. This left us with a pool of 48 funds. The following table shows the top 10.

Guide to Secondary Buyers & Placement Agents 2015

Download our Buyouts “Guide to Secondary Buyers & Placement Agents 2015” to see the latest secondary market trends, fundraising statistics and listings. It is based on a survey of 85 secondary buyers and 91 placement agents.

Chart of the week: Private companies register solid revenue growth in Q1: Golub Capital

Median revenue growth at 150 privately-owned companies in the Golub Capital loan portfolio dipped below 8 percent in the first quarter but remained strong, according to the latest Golub Capital Middle Market Report. Revenue growth in the portfolio beat that for companies in three major stock indices–the S&P 500, the Russell 2000 and the S&P SmallCap 600.

Chart of the week: EBITDA growth rate at private companies declines for two straight quarters: Golub Capital

Median year-over-year EBITDA growth rates at 150 portfolio companies financed by Golub Capital have fallen for two straight quarters, according to the Golub Capital Middle Market Report. However, the first-quarter growth rate remained well above 6 percent and beat the comparable growth rates at companies in the S&P 500 and S&P SmallCap 600 but lagged the comparable growth rates at companies in the Russell 2000.

Market at a glance

U.S.-based buyout and mezzanine fundraising slowed over the past two weeks, after starting the year at a break-neck pace. The 2015 total went up by $4 billion, to $118.2 billion. As it stands, this year’s aggregate sits nearly $15 billion ahead of where it was a year ago.

Chart of the week: Public pensions account for 26 percent of money raised in 2014 by these placement agents

In a spring survey conducted by Buyouts Insider, 14 placement agents that raised a combined $12.7 billion last year weighed in on where their money came from. Public pension funds was the largest contingent, at 26 percent; the “other investors” category, including sovereign wealth funds, came in second with 18 percent; and endowments/foundations came in third with 12 percent.

Chart of the week: United States accounts for more than half of money raised by these placement agents

The United States accounted for more than half the money raised by 14 placement agents that raised a combined $12.7 billion last year, according to a survey conducted this spring by Buyouts Insider (see accompanying chart). Europe came in second place at 19 percent.

Market at a glance

U.S.-based buyout and mezzanine fundraising had yet another boisterous two weeks, adding $9.7 billion to its yearly total. As it stands right now, this year’s aggregate sits nearly $30 billion ahead of where it was a year ago.

LP Scorecard: Washington sees more than $4 billion in distributions in 2014 from buyout funds; KKR plays big role

Last year was a good one for distributions for the Washington State Investment Board. In the twelve months, the pension realized a little over $4.0 billion in year-over-year distributions from its buyout portfolio.

Chart of the week: Europe, Asia funds generate strong returns for ILPA members over last 10 years

Europe and Asia private equity and venture capital funds produced surprisingly strong returns for members of the Institutional Limited Partnership Association over the last 10 years, while North American funds have also done well.