Buyout

Structural changes including socioeconomic tailwinds and rising exit values are proving more consequential for private equity appetites than China’s slowdown.

As domain expertise becomes a differentiator in an increasingly crowded PE market, managers are taking varying approaches to building industry know-how.

ArchiMed and Warburg Pincus have agreed to sell the France-headquartered business to life science group Sartorius for approximately €‎2.4bn.

PEI asks what has unblocked the deal pipeline and explores how firms are getting transactions across the line.

Though China remains the biggest PE market in APAC, other countries are getting a bigger share of dealmaking as investors look to diversify geographically, according to Bain & Co’s Asia-Pacific Private Equity Report 2023.

The lag in private equity reporting, differences in valuation methods and volatile macro environment will dictate the asset class’s performance in 2023, says McKinsey partner Brian Vickery.

Debt maturity is another concern for sponsors, says Lincoln International MD Richard Olson.

Carveouts, add-on acquisitions, take-privates and consolidation in the growth equity space will define dealmaking in 2023, says BlackRock Private Equity Partners' global head of investments.

In this first episode of our miniseries, Private Markets and the End of Cheap Money, we talk to dealmakers from Corsair, OEP, Vestar and more to hear how sponsors are coping with the higher price of 'L' in LBOs.

With deal activity slowing, GPs are partnering up and ensuring that portfolio companies are agile and stress-tested, according to panellists from EQT, Eurazeo and Churchill Asset Management.