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Talking Deal Prices: Pros fret as multiples spike above 10x EBITDAThe story about expensive company targets keeps getting scarier. It’s not just anecdotal. The hard numbers back up the tales from private equity pros about steep prices.
Deal-making remains 'choppy' in face of lofty prices - Quarterly DealsDeal-making by U.S. sponsors in the second quarter lagged behind the year-ago period, as frothy prices kept many players on the sidelines.
IPOs spike in Q2 as M&A holds steady - Quarterly ExitsInitial public offerings surged in the second quarter as mergers and acquisitions remained nearly static.
Genstar's Fund VII could reach $2 bln cap this yearGenstar Capital, the San Francisco-based middle-market firm that’s been active on the deal front, is expected to draw $2 billion for its oversubscribed flagship fund, Genstar Capital Partners VII, according to sources.
Thoma Bravo ups two to principalThoma Bravo has promoted Arvindh Kumar and Chip Virnig to principal. Previously, Kumar and Virnig were vice presidents. Prior to joining Thoma Bravo, Kumar worked at a number of firms that included Prospect Capital Management, BC Partners and Morgan Stanley while Virnig worked in Merrill Lynch & Co's investment banking group.
Carl Thoma: Prepare for inevitable decline in returnsPrivate equity GPs are deluding themselves if they believe they can exit at the same high multiples at which they are entering investments today, according to Carl Thoma, managing director at Thoma Bravo.
Midwest buyout shops seize golden opportunityOur regional report on Midwest buyout deals and fundraising shows Illinois and Minnesota are prime destinations.
Talking Deal Prices: Quick flips at Vista, Thoma Bravo may mark trendWith buyouts of portfolio companies commanding big EBITDA multiples and uncertainty over how much longer the good times may last, some private equity firms appear to be moving more rapidly to flip their investments for quick gains.
Market at a glanceU.S.-based buyout and mezzanine fundraising experienced a comparatively slow two weeks. The total grew by about $3.3 billion, to $105.5 billion. Even though the deluge of fundraising loitered a bit in the past two weeks, this year’s aggregate sits a full $27 billion ahead of where it was a year ago.
Jefferies profiting from highly leveraged loansJefferies has led seven leveraged loans totalling $5.07 billion since April as it continues to profit at the expense of regulated banks which are unable to lend to deals that U.S. regulators deem risky, Reuters reported.