Private Equity
As the credit markets go, so goes the buyout market, and fortunately leveraged debt multiples have been steadily climbing. Last year they hit their highest point since 2007, fueled by an economic recovery and a drive by both lenders and their institutional backers for higher yields.
1 min read · 29 January 2015
8 min read · 19 January 2015
U.S.-based buyout and mezzanine firms have gotten off to a blistering pace in 2015. Fundraising totals are nearly 2.5x what they were at this time last year. Completed deals are also off to a strong start, at more than twice the pace of a year ago.
1 min read · 19 January 2015
Debate rages in the investment community over which sized funds generate the strongest returns.
1 min read · 16 January 2015
Buyouts has been tracking select fundraising commitments made by limited partners dating back to 2011. The data captured spans 1,456 commitments. The accompanying chart shows the top 10 LP commitments and the corresponding issue of Buyouts that they appear in.
1 min read · 16 January 2015
Mega-funds are often viewed as safer investment vehicles, as most are run by large, recognized firms that generated strong returns on previous funds. The accompanying chart shows the top 10 mega-buyout funds to hold closes since 2011, ordered by target amount. Nine of the 10 funds exceeded their targets, with only Warburg Pincus Private Equity XI falling a tad short.
1 min read · 16 January 2015
While it is difficult to get a true read on how a fund is faring until four or five years have passed, Public Employees’ Retirement System of Nevada has a bunch of young funds that are showing promise. The accompanying table shows the top three funds by investment multiple in the Nevada PERS private equity portfolio for each vintage going back to 2010; the data is current as of year-end 2013.
1 min read · 05 January 2015
In a survey published in December by secondary buyer Coller Capital, 39 percent of investors plan to increase their target allocations to private equity over the next 12 months—see accompanying chart. Conversely, target allocations for hedge funds are getting trimmed. More than a third (34 percent) of limited partners surveyed said they planned to lower their target allocations to hedge funds over the same time period.
1 min read · 05 January 2015
When the California Public Employees’ Retirement System, the largest pension fund in the United States, announced in mid-September it was divesting from hedge funds the decision sent waves through the private equity community—see accompanying chart. A survey by secondary buyer Coller Capital conducted shortly after the decision found nearly two-thirds (64 percent) of investors believe that large investors will reconsider their own commitments to hedge funds in light of CalPERS’s action.
1 min read · 05 January 2015
On the Move
5 min read · 29 December 2014
