2021 prediction: 20% of buyouts over 20x

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A bold prediction coming from our upcoming PE Outlook note: 20% of buyouts will be priced above 20x EBITDA. Our numbers suggest around 18% of them are trading above the 20x mark through late November, though there are caveats galore when looking at 2020 activity. Many of the companies that have come to market have either been unaffected by the COVID fallout, or have benefitted from it.