Surveys Archive > 2007 Private Equity Barometer Q3 2007 31/10/2007. Following a record-breaking second quarter, it was difficult to see anything but further growth ahead for private equity going into July. However, the turbulence in the credit markets in the wake of the sub-prime mortgage crisis led many to begin predicting a barren period for the asset class. With liquidity reduced and leverage hard to come by, deal flow in the buyout market, which had been the driver of the record figures, would surely dry up. The statistics, though, as analysed in this unquote" Private Equity Barometer, sponsored by Candover and published by Incisive Media, tell a more complicated story. Corporate venture capital investment at highest levels since 2001 24/10/2007. Corporate venture capitalists invested $1.3 billion into 390 deals in the first half of 2007, representing the highest percentage of corporate venture deals and dollars since 2001 according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association (NVCA) based on Thomson Financial data. GLOBAL venture capital investments in clean Technology surge 24/10/2007. Global venture capital investments in clean technology companies surged to $1.1 billion in the first six months of 2007 alone, according to mid-year research by Ernst & Young and Dow Jones VentureOne. Propelled by activity in the US, 2007 venture capital investments in clean technology companies are now on track to increase by more than 35% compared to 2006. Burrill reports biotech hit by jitters in July 2007 10/10/2007. Biotech had to weather a bumpy ride in the wake of nervous investors and skittish general markets, says G Steven Burrill, CEO, Burrill & Company. It was a slow month for biotech IPOs with only ImaRx Therapeutics, which is developing novel therapies for vascular disorders associated with blood clots, pricing three million shares at a revised price of $5 per share. US M&A to accelerate through 2007 03/10/2007. Mergers and acquisition activity will continue to accelerate through 2007 as deal values soar, according to the Transaction Services group of PricewaterhouseCoopers. Deals involving US targets totaled $845bn during the first five months of 2007, 53 per cent of the total for 2006, and 10 per cent more than deal value in the entire first half of 2006. The European Consulting Mergers & Acquisitions Report 2007 26/09/2007. During the period 2002 to 2006 there were 602 sales of consulting firms – on average more than two deals per week but rising to a peak of four deals per week in 2006, according to the equiteq European Consulting Mergers & Acquisitions Report 2007. In the 61% (367) of deals where financial data was available, the total value of the market was £19.5bn or approximately £52m per firm sold. Strip out the few ‘mega deals’ during that period and the average deal size drops to £20m. Since 2003, market activity has more than tripled in volume and increased by more than 500% in value. European food sector M&A activity 19/09/2007. M&A in the European Food Sector is expected to increase in next twelve months - private equity participation will continue to drive deals, says mergermarket. Global IPO Trends 12/09/2007. Thriving US companies conducted the world's highest number of IPOs in 2006 with a streak that looks set to continue in 2007. Global data shows US-based companies generated the largest number of IPOs (187) in 2006, raising $34.1bn, according to Ernst & Young's Global IPO Trends Report. Top of the global M&A market 05/09/2007. KPMG Corporate Finance’s Global M&A Predictor suggests that global merger and acquisition activity is about to peak, and forecasts a fall in overall deal volumes this year. Although liquidity remains high, and deal values continue to rise, the firm expects global deal volumes in 2007 to be below those achieved in 2006, a year during which both average deal size and the number of deals hit record highs. M&A team benchmarking 13/06/2007. From time to time, M&A teams have asked KPMG how they compare with others they have worked with. It is clearly helpful for decision makers to understand more about the composition and activities of M&A departments across the world in order that they can compare their own team with those of others in a similar size company, the same geography or the same sector. This KPMG study is intended as a tool for such benchmarking, as well as creating a platform for discussions among M&A professionals worldwide. SCM private equity terms & conditions study: 2006 30/05/2007. SCM Strategic Capital Management's 4th Annual Review of Private Equity Terms & Conditions analyses the 252 new private equity fund offerings that came to market in 2006. Limited partner interest in emerging markets private equity 16/05/2007. A recent piece of research by EMPEA found that 78 per cent of the LPs they surveyed expect to increase commitments to emerging markets private equity over the next five years. LPs project emerging markets private equity will produce returns at a 5.4 per cent premium over US buy-outs and expect outperformance relative to developed market funds over the next five years. Start-up Valuation Benchmark Report: March 2007 16/05/2007. Valmetrics' latest valuation report. A tool for VCs looking to value, size and analyse portfolio companies in a spread of industries ranging from biotechnology to application software. Global midmarket M&A activity to rise, according to study 02/05/2007. Expectations are bullish for upcoming cross-border middle market M&A deals among both private equity and corporate executives, despite a slight downturn in deals completed in 2007’s first quarter, according to a new study performed by Global M&A. DealMakers survey 11/04/2007. Merger professionals confidence levels are running at record levels, says the ACG and Thomson Financial, while private equity, easy debt, and global growth looks set to fuel deals across 2007. UK small and mid market financial services firms lead European growth outlook 04/04/2007. GE Commercial Finance launches their Outlook for Growth Report, an SME growth study. They discover M&A activity remains high on the agenda while London and the North East of the UK are the most optimistic regions 2006: another landmark year for European private equity 14/03/2007. A strong performance in 2006 has driven an increased allocation towards private equity, says the EVCA, while their figures set new European fundraising and investment records as well as confirming a boost for venture capital. Emerging markets PE funds raise $33bn in 2006 07/03/2007. Investor interest continues to grow as the asset class matures, says EMPEA, with 162 private equity funds focused on investing in the emerging markets of Asia, Eastern Europe, Latin America, the Middle East and Africa raising $33.2bn in capital commitments in 2006. This represents a 29 per cent increase over the $25.8bn raised in 2005. Long term private equity performance solid in Q3 2005 07/03/2007. Private equity funds continued to outperform the public markets across all time horizons in the third quarter of 2005, according to Thomson Venture Economics and the US National Venture Capital Association. Buy-out Track 100 21/02/2007. The Sunday Times Deloitte Buy-out Track 100 league table sheds new light on the private equity industry's investments. The profit growth of investee companies is analysed, rather than the usual focus on deal completion or the private equity investors' internal rate of return. The IPO market 2006 21/02/2007. No fewer than 29 countries each hosted more than $1bn worth of IPOs last year, marking a globalisation trend set to continue through 2006, according to Accelerating Growth, the third annual Global IPO Trends Report released by Ernst & Young. Private equity performance remains steady in Q3 2006 14/02/2007. Private equity performance was extremely steady in both the short and long term horizons for the period ending September 30, 2006 according to Thomson Financial and the US National Venture Capital Association. What's ahead for 2007? 07/02/2007. On the financial front, 2006 has been a pretty good year all around says Knowledge Wharton. Stock markets in many countries have rallied, energy prices have fallen, inflation is relatively low and growth in GDP ranges from respectable to robust. But the economies of most countries also face a number of threats - some predictable, some not - that could derail recent gains in our increasingly connected global markets. What's ahead for 2007 in the US, India, Europe, Latin America, China and other parts of the world? Diversified investments for institutions 31/01/2007. LPs will be interested to hear that the latest NACUBO and TIAA-CREF study reflects a steady trend toward alternative asset classes and away from traditional ones. Allocations to traditional assets have declined 1 to 2 percentage points a year over the past ten years. As a result, over the past decade, the portion of investments in asset classes other than equities and fixed income has more than tripled, from 5.4 percent to 17.3 percent of investment portfolios. Data collected for 2006 reaffirms the value that a well-diversified investment pool has in contributing to the strong long-term performance of an endowment. US private equity performance remains steady in Q3 2006 31/01/2007. Private equity performance in the US was steady in both the short and long-term horizons for the period ending 30 September 2006, according to Thomson Financial and the National Venture Capital Association. Compared with the period ending Q2 2006, both the buy-out and venture capital asset classes showed very little fluctuation across all time horizons and continued to outperform both the S&P 500 and NASDAQ markets in the long term. Industry Illiquidity Discounts Report: December 2006 24/01/2007. Liquidity, says Valmetrics, is a key differentiating factor between public and private equity: listed companies have some liquidity whereas privately held businesses have a serious lack of liquidity. Being less liquid, private companies bear a higher risk. Therefore, their market-based valuation must be adjusted (discounted) to take this risk into account. The data displayed in the IIDR intends to help analysts adjust their market-based private equity valuations rationally and consistently. Freeman & Co. details record 2006 financial services deal activity and projects continuing trends will produce robust deal volume in 2007 17/01/2007. Strategic merger and acquisition activity in 2006 reached record levels in a number of financial services sectors, found Freeman & Co. US IPO Market showing some signs of improvement 10/01/2007. Mergers and acquisitions continued to dominate the exit scene for the full year 2006, says the NVCA and Thomson Financial. The data reflects another year of heavy reliance on the M&A market for venture capital investment exits. VCs Bullish for 2007 03/01/2007. The NVCA's annual predictions for this year shows a strong level of interest in energy, new media and alternative exit strategies. But there will be fewer venture funds operating in 2007 as the technology bubble burst finally works its way through the system. Accelerating growth - global IPO trends 2006 06/12/2006. The growth story in China continued to drive activity in Asia, while activity in North America remained steady. The US remained the top country by total capital raised in IPOs last year and became the top country by number of IPOs. A key trend was an increase in emerging market activity, principally driven by China, Russia, and Poland. This is the third global IPO report produced by Ernst & Young, driven by the needs of companies planning an initial public offering in markets around the world.