PE Firms Invest More, Pay Less?
One of the big knocks on pre-crisis private equity was that it had eschewed its buy-low/sell-high mantra, in favor of buy high and (hope to) sell higher. A lot of it was properly pinned on cheap debt, but some was caused by a sheep-like portfolio land rush (“They did a deal? Well then, we’ll do a deal…”). I bring it up today because of some new data from Thomson Reuters (download here), about PE-backed M&A volume in 2010 (through Monday). It works out to 1,755 global deals valued at just over $103 billion, compared to 1,558 deals worth nearly $39 billion over the same period in 2009.
4 August 2010•1 min read
