Pitchbook.com PRESENTATION INQUIRIES 1.877.636.3496 REQUEST A DEMO OR TRAINING 1.877.267.5593 2014 ANNUAL PRIVATE.

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Presentation transcript:

pitchbook.com PRESENTATION INQUIRIES REQUEST A DEMO OR TRAINING ANNUAL PRIVATE EQUITY BREAKDOWN: U.S. EDITION

pitchbook.com LP PE Firm Fund of Funds Consultant Arranger Advisor Law Firm Lender Advisor Endowment Auditor VC Firm Company CONNECT THE DOTS PE Firm

pitchbook.com ALL IN THE PITCHBOOK PLATFORM

pitchbook.com DEAL ACTIVITY »

pitchbook.com U.S. PE DEAL FLOW » Although deal flow was down, capital invested in 2013 rose to $426 billion—its highest point since Source: PitchBook

pitchbook.com U.S. PE DEAL FLOW » Investment accelerated throughout the year, with 3Q being one of the most active quarters since Source: PitchBook

pitchbook.com DEALS (#) BY DEAL TYPE » Add-ons and minority deals continued to gain in popularity in Source: PitchBook

pitchbook.com ADD-ONS V. NON ADD-ONS » The number of add-on deals surpassed platform buyouts for the first time ever in Source: PitchBook

pitchbook.com MEDIAN EBITDA MULTIPLES FOR BUYOUTS » The median EBITDA-to-valuation multiple for buyout deals rose to 10.2x in 2013, returning to pre-crisis levels.

pitchbook.com MEDIAN DEBT % FOR BUYOUTS » PE firms incorporated more debt in their deals in 2013, both as a percentage of the purchase price and as a multiple of EBITDA. Source: PitchBook

pitchbook.com MEDIAN DEAL SIZE ($M) » At $50M, the median PE deal size is now at its highest level since Source: PitchBook

pitchbook.com INVESTMENTS (#) BY DEAL SIZE » Transactions of less than $25M dipped below 40% of deal flow for the first time since Source: PitchBook

pitchbook.com INVESTMENTS ($) BY DEAL SIZE » Deals of $1B or more represented more than 30% of capital invested for the first time since Source: PitchBook

pitchbook.com INVESTMENTS (#) BY INDUSTRY » B2B continued to be the main source of deal flow, while B2C fell below 20% for the first time ever. Source: PitchBook

pitchbook.com INVESTMENTS ($) BY INDUSTRY » B2C and IT grew their share of capital invested to the some of the highest levels ever in Source: PitchBook

pitchbook.com INVESTMENTS BY STATE » New York saw the biggest jump in deal activity in 2013, while Illinois experienced a severe 37% drop. Source: PitchBook

pitchbook.com INVESTMENTS (#) BY REGION » The Mid-Atlantic region reclaimed the title as the most active area for PE investment in Source: PitchBook

pitchbook.com EXIT ACTIVITY »

pitchbook.com U.S. EXITS » Despite both exit flow and capital exited dropping by 21%, 2013 still proved to be one of the best years for exits in the last decade. Source: PitchBook

pitchbook.com EXITS (#) BY TYPE » The 57 IPOs of PE-backed companies in 2013 marked a seven-year high, generating the second highest amount of capital on record. Source: PitchBook

pitchbook.com FUNDRAISING »

pitchbook.com U.S. FUNDRAISING » 2013 marked the third consecutive year of increases in both fund closes and capital raised. Source: PitchBook

pitchbook.com FUNDRAISING ($) BY SIZE » Funds of $5 billion or more accounted for nearly half of the capital raised in Source: PitchBook

pitchbook.com FUND RETURNS »

pitchbook.com PME BENCHMARKS METHODOLOGY PitchBook’s newly developed PME Index and Benchmarks provide GPs and LPs with an effective way to compare returns from alternative investment funds with public equities. Indices produced by Russell Investments have been used to construct the PME vehicles used in computing the benchmarks. The PME equation can be customized using various indices from Russell Investments to create targeted peer groups (i.e. small-cap stocks, growth stocks, value stocks, etc.). As there are multiple ways to calculate a PME, PitchBook has employed both the PME+ and the Kaplan-Schoar PME methods. For more information on the PME calculations, please download the white paper at

pitchbook.com PE NAV VS. RUSSELL 3000 INDEX PME+ VEHICLE » PE funds have generated annual returns 3x greater than the public markets over the last 12 years Source: PitchBook PE NAV CAGR: 7.9% Russell 3000 ® Index PME CAGR: 2.6%

pitchbook.com PE KAPLAN-SCHOAR PME BENCHMARK BY VINTAGE YEAR » PE funds consistently outperform the public markets, except for young funds that are still in the J-curve Source: PitchBook When using the KS PME, a value greater than 1.0 indicates outperformance of the public index (net of all fees); a value less than 1.0 indicates underperformance. For example, the 1.51 value for 2000 vintage funds means investors in a typical vehicle from that year are 51% better off investing in PE than if they invested in public equities over the same period.

pitchbook.com PRESENTATION INQUIRIES REQUEST A DEMO OR TRAINING