piotrk

LP Scorecard: Even the distributions are big in Texas

The Texas County & District Retirement System during 2014 enjoyed $531.4 million in distributions from a private equity portfolio that has invested some $3.4 billion to date.

Chart of the week: European buyout market cheaper than the United States--but not by much

European EBITDA multiples are lower than those in the United States, but the difference isn’t as big as you’d think, according to data from Capital IQ and Robert W. Baird & Co.

Chart of the week: Big deals regain top spot as most expensive part of the market

EBITDA multiples have generally been on the upswing as the economy continues to rebound from The Great Recession.

Oil price volatility starts to draw blood

The second quarter of 2015 has kicked off with an uncharacteristically high number of private equity-backed companies getting hit with distressed ratings from Standard & Poor’s and Moody’s Investors Service.

Chart of the week: U.S. private equity fundraising this year has a New York State of mind

From the beginning of the year 57 U.S. LBO and mezzanine funds have so far closed on capital, according to Thomson One, a product of Thomson Reuters. Of the 57, 19 (33%) were sponsored by firms based in New York. This is more than the next three states combined, and more than doubled second-place California.

Chart of the week: Billion-dollar-plus funds take center stage this year

Of the 57 U.S. buyout and mezzanine funds that have closed on capital since the onset of 2015, about a quarter of them, 14, have so far closed on at least $1 billion. The second tallest pole in the tent is the $100 to $300 million range, with 13 funds, or about 23 percent. While the results are diverse, investors appear to be trending towards the safety of larger funds.

Market at a glance

U.S.-based buyout and mezzanine fundraising surged over the past two weeks, boosting the year-to-date sum by nearly $14 billion, or almost $12 billion ahead on the comparable 2014 total.

On the Move, 5.4.15

The following hires, promotions and appointments are for the May 4, 2015, issue of Buyouts.

LP Scorecard: Lindsay Goldberg produces anything but small potatoes for Idaho

Large and mega-sized funds dating back to right before the Great Recession led the way in year-over-year distribution for the Public Employee Retirement System of Idaho during a recent one-year period. Overall the pension enjoyed over $261 million in distributions from its private equity portfolio in the year ending September 2014, with the top five funds responsible for about $76 million of that.

Number of 'weakest link' portfolio companies drops sharply

The number of private equity-backed companies listed in Standard & Poor’s “weakest links” report published in the beginning of April dropped to 19 from 35 when the list was last reviewed by Buyouts about three months ago. The year’s first quarter saw one portfolio company receive a default rating and another file for bankruptcy.