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Deals update: Good news for investors with seven exits recorded

Investors looking for signs of an upturn in the extremely harsh exit environment for private equity firms may be comforted by the news that there were seven exits in the week ending 4 March 2003, six of them in Europe.

Some 104 active investors participated in 39 deals across 14 sectors. Last week saw 93 investors backing 38 deals with no recorded exits.

Software was by far the most attractive sector this week, with 13 deals done across the world. In contrast, healthcare and life sciences seemed to have lost some of its lustre and there were just five deals recorded.

The biggest transaction was Evercore Capital Partners and Thomas H Lee Partners' recapitalisation of Evercore's portfolio company American Media. Each firm will fund around half of the $508m equity stake.

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