Surveys Archive > 2008 Exit Poll report 18/07/2008. For the first time since 1978, there were no venture-backed IPOs in the second quarter of 2008, according to the Exit Poll report by the US National Venture Capital Association and Thomson Reuters. The absence of any offerings this quarter follows an exceptionally slow first quarter when only five venture-backed companies went public. This number is a fraction of the first half of 2007 when 43 companies went public. According to the NVCA, the situation is concerning enough to be characterised as a capital markets crisis for the start-up community. Bowmark Entrepreneurs’ Index - July 2008 16/07/2008. The mood of small and medium-sized enterprises in the UK has changed dramatically in the past six months, according to the second issue of the Bowmark Entrepreneurs’ Index. The Index is a survey of directors of small to medium-sized businesses in the UK. In the wake of the credit crunch and worsening economic outlook, these entrepreneurial bosses have become distinctly gloomy. Monthly Private Equity Report: June 2008 15/07/2008. June brought mixed results for the private equity sector, with transaction numbers reaching a new 12-month low and values failing to build on May’s encouraging gains. With leveraged deals worth more in June than they had been since the previous July the news was not all bad, but the USD 50,137 million achieved was a 3 per cent monthly decline and more than three times lower than a year ago, according to this monthly global private equity report prepared by ZEPHYR and Bureau van Dijk Electronic Publishing exclusively for AltAssets. Venture capital firms invest $158m in India in Q2 2008 14/07/2008. Venture capital firms invested $158m across 26 deals in India during the three months ending June 2008, down from the $182m (25 deals) in Q1 2008, according to a study by Venture Intelligence in partnership with the US-India Venture Capital Association. The amount was also down from the $163m invested in Q2 2007, although the number of deals was up by one from that quarter. Global Alternatives Survey Including Global Alternatives 99 02/07/2008. During 2007, alternative assets managed on behalf of pension funds by the world's largest 99 investment managers grew by 40 per cent to $822bn, from the $586bn under management the year before, according to the latest Global Alternatives 99 research produced by Watson Wyatt. Data from the wider survey shows that at the end of 2007, the top 50 managers within the area of private equity fund of funds had $139bn under management. MENA Private Equity Confidence Survey 25/06/2008. The attractiveness of the relatively untapped potential of the MENA region, against a backdrop of strong economic growth, has led to rising levels of investment activity and an increasing volume of private equity funds targeting the region, according to this survey from Deloitte. In the PIPEline 11/06/2008. Private investments in public equity, more commonly referred to as ‘PIPEs’, are often used by public companies seeking quick access to financing, particularly where public markets are not easily accessible. Weil, Gotshal & Manges recently surveyed 25 PIPE transactions announced during the 12 months ending 30 April 2008, in which private equity sponsors, sovereign wealth funds and other investors invested $100m or more. This study reports on PIPEs at a time when there has been a resurgence in high-profile PIPE investments. Monthly Private Equity Report: May 2008 11/06/2008. There were encouraging results from the private equity sector in May, with a ten-month high of $53.15bn worth of transactions recorded. The value gains were achieved despite transaction numbers being almost three times less than they were a year ago, according to this monthly global private equity report prepared by ZEPHYR and Bureau van Dijk Electronic Publishing exclusively for AltAssets. Turning up the heat: an insight into M&A in the renewable energy sector in 2008 04/06/2008. KPMG's report on M&A in the renewable energy sector has revealed an explosion in the number of deals. Analysts estimate that 2007 saw $55.7bn in M&A transactions, up by 47 per cent on the year before. Infrastructure funds, private equity firms and other financial investors are likely to be the most active M&A participants after power generating companies, according to this survey. CAM survey on the impact of subprime crisis on private equity 21/05/2008. Despite the subprime crisis, the overwhelming majority of private equity fund managers are still seeing outstanding investment and return opportunities, according to a survey from CAM Private Equity. According to private equity experts interviewed, favourable entry valuations for financing structures, albeit conservative, are a deciding factor for the level of optimism. BVCA Private Equity and Venture Capital Performance Measurement Survey 2007 21/05/2008. Long-term returns from UK private equity funds have improved over the past year, according to the 2007 Performance Measurement Survey summary results published by the British Private Equity and Venture Capital Association in conjunction with PricewaterhouseCoopers and Capital Dynamics. The survey shows that UK private equity funds have outperformed both the stock market and UK pension funds over the ten years up to the end of 2007. Limited partner interest in emerging markets private equity 21/05/2008. Limited partner commitments to private equity fund managers in emerging markets will continue to grow, despite already significant increases in their commitments over the past few years, according to this 2008 LP survey from the Emerging Markets Private Equity Association (EMPEA). The survey also finds that 74 per cent of those surveyed expect greater commitments to emerging markets over the next three to five years. Venture capitalists: US recession and unstable markets will slow investing and fundraising activities, M&As and IPOs 14/05/2008. Venture capitalists expect the US recession and unstable markets to slow investment and fundraising opportunities, however China, India, greentech, internet services and biotech will continue to gain momentum and investment in the coming year, according to a recent survey by KPMG. Monthly Private Equity Report: April 2008 14/05/2008. The private equity market picked up slightly in April and although deals were still worth less than a quarter of their corresponding 2007 value, the $29.203bn total was the highest seen so far this calendar year, according to this monthly global private equity report prepared by ZEPHYR and Bureau van Dijk Electronic Publishing exclusively for AltAssets. unquote" Private Equity Barometer Q1 2008 07/05/2008. The ongoing problems in the credit markets and the knock-on effects to the wider economy caused deal activity levels to decline for the first time since Q2 2007, dropping by 21 per cent from the Q4 figure of 409 transactions to just 322 – the lowest total since the first half of 2006, according to the unquote" Private Equity Barometer, sponsored by Candover. Deloitte Turkey Private Equity Confidence Survey (PECS) 07/05/2008. After confidence hit all time highs in 2006-2007, this Private Equity Confidence Survey provides further evidence that we are entering a cautious period. Confidence indicators show the expected downturn with sentiments following activity and market conditions, in line with global developments. Monthly Private Equity Report: March 2008 30/04/2008. The negative impact of credit market turmoil on private equity deals was evident yet again in March, with both volume and value continuing a downward trajectory that began at the start of the year, according to this monthly global private equity report prepared by ZEPHYR and Bureau van Dijk Electronic Publishing exclusively for AltAssets. UK private equity-backed IPOs outperform market over 12 months, Cass report 29/04/2008. Private equity-backed IPOs outperform other IPOs by more than nine per cent one year after their public listing, research published by Cass Business School, London, found. The research was commissioned jointly by the British Private Equity and Venture Capital Association and the London Stock Exchange. M&A Executive Insights 2008 23/04/2008. 2007 proved to be a year of two distinct halves for the US M&A market, especially in terms of overall deal value, according to this survey from Nixon Peabody and mergermarket. In the first six months of the year, transactions worth $846.8bn were undertaken in the US while the onset of the credit crunch in August weighed heavily against H2 figures – only $479.2bn of deals were completed during the period, just 57 per cent of total H1 value. 2007 US IPO watch: analysis and trends 23/04/2008. 2007 US IPO activity was the highest since 2000 The turmoil in the credit markets might have slowed the pace of M&A in the second half of 2007; however, it didn’t hinder IPO activity. The fourth quarter of 2007 saw 101 IPOs—the highest quarterly IPO volume in eight years—raise $20.4 billion. As predicted in our 2006 US IPO watch report, 2007 IPO activity exceeded that of 2006. There were 296 offerings that raised $65.1 billion in 2007 compared to 236 listings that raised $49.9 billion in the prior year. In fact, 2007 was the strongest IPO market we have seen since 2000 when 429 IPOs raised $92.6 billion. Israel VC Indicator Survey 16/04/2008. Venture capital investors traditionally focus on opportunities in their local markets. Yet, as the economy has become more global so has business investment. While globalisation is unpredictable, more and more venture capital firms see a bright future where potential rewards significantly outweigh the risks. This Global Venture Capital Survey from Deloitte measures the investment attitudes and intentions of venture capitalists around the world, examining views on target geographies and sectors over the next five years. Q1 number of US venture capital funds raised lowest since 2003 15/04/2008. With 57 venture capital funds raised in the US, the first quarter of this year saw the lowest number of funds raised since the third quarter of 2003, when there were only 34, according to the US National Venture Capital Association and Thomson Financial. The figure represents a decrease by 31 per cent from the same period in 2007. SCM’s 2007 Annual Review of Private Equity Terms and Conditions: big is (still) beautiful 09/04/2008. For the fifth consecutive year, SCM Strategic Capital Management AG took a closer look at the terms and conditions of newly launched private equity funds in 2007. For this purpose, 311 new funds were thoroughly screened and checked against SCM’s vast database containing more than 1,800 funds from more than 900 private equity firms worldwide. mergermarket league tables of financial advisers to global M&A for Q1 2008 02/04/2008. Mergers and acquisitions experienced something of a ‘death rattle’ in the first quarter of 2008 as large transactions in the commodities sector - typically the last sector to fall in a general cyclical downturn - comprised 40 per cent of all announced global deals in the first quarter of 2008. In fact, if the $21bn bid for Rio Tinto by BHP Billiton is stripped out, as well as the Philip Morris demerger, Europe saw its slowest quarter by value since Q3 2004, according to this global M&A report on from mergermarket. 2007 European Private Equity Activity Survey 26/03/2008. Despite record fundraising in 2006 and difficult market conditions in the second half of 2007, the appetite of investors towards the asset class remains undeterred, said Professor Stefano Caselli, member of the governing body of PEREP_Analytics and Professor of banking and finance, Bocconi University Milan, at the EVCA Investors' Forum in Geneva earlier this month. Monthly European Technology Venture Capital Bulletin - January 2008 05/03/2008. The bulletin includes the latest figures from Go4Venture's proprietary Headline Transaction Index, an index reflecting tech financing deals as reported in the professional press. Overall, the level of activity continues to be strong and comparable to the high point of a year ago, depending on whether you include the unusually large Plastic Logic deal of €77m in January 2007. Emerging markets private equity funds raise $59bn in 2007 05/03/2008. Interest in emerging market private equity opportunities continued unabated in 2007, with 204 funds collectively raising $59bn in fresh capital, a 78 per cent increase over the $33bn raised in 2006. According to the Emerging Markets Private Equity Association, fundraising dedicated to the emerging markets over the last three years has totaled more than $118bn, versus only $13bn in the three years prior. 2007 Headline Transaction Index Round-UP 27/02/2008. The number of European technology venture investments and total amount invested in 2007 increased to its highest level since 2002, with notable increases particularly in internet services and the number of early stage deals, according to Go4Venture's Headline Transactions Index. Buy & Build Monitor 2008 27/02/2008. 2007 saw a record number of follow-on acquisitions by private equity-backed businesses, according to a new study by PPM Capital, in conjunction with mergermarket. European Distressed Debt Market Outlook 2008 06/02/2008. Over-leverage was cited by respondents to the European Distressed Debt Market Outlook 2008 survey as the foremost factor expected to effect restructurings. It was mentioned by just under half of respondents, according to the survey published by Debtwire in conjunction with Cadwalader, Wickersham & Taft and Rothschild, while an economic downturn and management failure were also highlighted as likely significant causes of restructurings. Private Equity Barometer Q4 2007 28/01/2008. The lack of large buy-outs in Q4, caused by worsening conditions in the credit markets, brought value down to the lowest quarterly total for several years - almost half that of Q3 and nearly two thirds less than was seen in the corresponding period in 2006, according to the unquote" Private Equity Barometer, sponsored by Candover. The Impact of Private Equity as a UK Financial Service 23/01/2008. New research commissioned by The British Private Equity and Venture Capital Association reveals that the private equity industry generated a total of £5.4bn of income for the financial and professional services sector in the financial year 2006-2007. This figure represents 12 per cent of the total annual revenue of the UK financial services industry. Bowmark Entrepreneurs’ Index - January 2008 21/01/2008. The Bowmark Entrepreneurs’ Index, from UK private equity firm Bowmark Capital, is the first in a series of surveys of small to medium-sized businesses in the UK. Companies surveyed in September and October 2007 are optimistic about prospects for their own businesses in the next 12 months. Year-End 2007 DealMakers Survey 09/01/2008. Although 2007 will go down in the books as a record year in worldwide M&A, with nearly three quarters of merger professionals retaining a positive view of the current M&A environment, they are significantly less bullish than they were six months ago, according to the ACG/Thomson DealMakers Survey.