European exit market in recovery

Nearly €9bn was realised by European private equity firms in the first nine months of the year, already surpassing 2009’s full-year total by 25%.

Secondary buyouts have significantly boosted exit figures for European private equity firms, which achieved €8.8 billion-worth of exits from January through September, €3.4 billion of which derived from secondary sales.

The total divestiture figure (which does not account for write-offs) is 25 percent more than the total value of exits recorded in 2009, according to the European Private Equity & Venture Capital Association (EVCA). The value of secondary sales for the same periods trebled, while trade sales decreased by one-quarter to €2.6 billion.

Investment and fundraising figures are also up: €26 billion was invested from January through September, 14 percent more than full-year 2009 figures, while more than €13 billion was raised in the first nine months of the year, equivalent to 83 percent of the total funds raised last year.