Performing Under Pressure A Survey of European Buyout Firms The European buy-out market is under greater scrutiny than ever before. Expectations are high but so are concerns about the operating environment. Performing under Pressure, a survey of 75 of the region’s most important buy-out firms, explores the most pressing issues for both firms and limited partners and analyses the different parts of the market. This confidential survey was supplemented by in-depth interviews with buy-out firms and limited partners. It examines the competition in this investment arena, the composition of teams and their investment processes, the strategies they are adopting to succeed in a radically different economic environment, and their expectations.         Edition: First Format: Report Pages: 71 ISBN: 1-904620-00-0 Published: November 2002 Buy Report Online Presentation in Adobe PDF Format: WILL BE E-MAILED TO YOU. £100.00 (Click to Buy) UK customers: 17.5% VAT will be added to the above price. EU customers: 17.5% VAT will be added to the above price where a valid VAT number is not supplied by you. Non- EU customers: No VAT will be added to the above price NB: Orders can take up to 5 working days to be processed. Please note, orders can only be cancelled if the product has not yet shipped to you. After products have been dispatched, no refunds can be given. See below for full terms and conditions. Table of Contents SECTIONS Executive summary Regional and sector buy-out focus Buy-out teams Deal flow The investment process Adding value and generating returns Exits Competition Future trends Fundraising The Limited Partner perspective Appendix A: Buy-Out investing Appendix B: Overview of the sample FIGURES Regional focus of buy-out firms Regional investment strategies Sector focus of buy-out firms Sector focus by investment stage Average date of first funds raised by investment stage Size and experience of buy-out teams Professional experience of teams Professional composition of firms by investment stage Proprietary deal flow as a share of deals screened per year The deal process Sources of deal flow Main factors in the decision-making process Average deal size Average debt to equity ratio Most important ways of generating returns Most important ways to add value to portfolio companies Expected returns compared to past performance (net annual IRR) Expected exits compared with historical average Desired changes to the European public markets Percentage of firms that view the market place as being more crowded Sources of competition Sources of competition by stage of investment Regions where competition for deals is greater Expected future trends Attractive regions for small and mid-market investments over the next two years Attractive regions for large buy-out investments over the next two years Positive impact of the Euro on private equity investing Popular sectors over the next two to three years Desired developments to improve conditions in Europe for private equity activity Buy-out firms planning to raise a fund over the next 12 months Average target size of funds planned for the next 12 months How fund raising has changed over the past two years LPs' main concerns with the buy-out market Management fees considered appropriate by LPs Average European buy-out carried interest split The top buy-out funds, as voted for by LPs Value of European buy-out transactions 1992-2001 Value of UK buy-out transactions 1992-2001 Value of French buy-out transactions 1992-2001 Value of German buy-out transactions 1992-2001 Report Ordering: Delivery, Terms & Conditions and FAQs.