Despite the uptick in LBO EBITDA yields, the risk-free rate’s move up makes 2023 valuations particularly unattractive, historically speaking. Download PitchBook’s Report here. Comparing EBITDA yields to the 10-year Treasury allows us to normalize for the interest rate environment when each vintage was beginning to make their leveraged investments. We then net that against buyout fund…
Over the long term, PE growth and buyout have been standout performers. VC was keeping pace but has retrenched since 2021. Download PitchBook’s Report here. This assumes investing in our universe of funds for which we have cash flows and net asset value (NAV) data available each quarter. It is a hypothetical result if one were…
PE still retaining third-highest proportion on record of all M&A Download PitchBook’s Report here. (Past performance is no guarantee of future results.) Contact: Garrett Blackgarrett.black@pitchbook.com… Subscribe to Read MoreAlready a member? Log in here...
PE buying to selling and the net exit gap ($B) Download PitchBook’s Report here. (Past performance is no guarantee of future results.) Contact: Garrett Blackgarrett.black@pitchbook.com… Subscribe to Read MoreAlready a member? Log in here...
Global private debt Download PitchBook’s Report here. (Past performance is no guarantee of future results.) Contact: Garrett Blackgarrett.black@pitchbook.com… Subscribe to Read MoreAlready a member? Log in here...
P.E Deal Activity Download PitchBook’s Report here. US PE dealmaking finished the year similar to how it started: still struggling to find a bottom. Q4 2023 deal value declined 22.6% YoY, although deal count appears to be firming. For the full year, deal value declined by 29.5% to $645.3 billion, its lowest point since 2017 outside…
Middle-market activity: A 6-year low Download PitchBook’s Report here. Middle market buyouts are down to a six-year low, according to PitchBook’s Q3 US PE Middle Market Report. The third quarter dipped to an estimated $87.7 billion, a 13% decline from Q2 2023 and a 48% decline from the peak in Q4 2021…. Subscribe to Read MoreAlready
A quarter of megafunds Download PitchBook’s Report here. Global fundraising is on a healthy trajectory this year, according to PitchBook’s Q3 2023 Global Private Market Fundraising Report…. Subscribe to Read MoreAlready a member? Log in here...
A symbol for the PE market Download PitchBook’s Report here. Buyout multiples have barely budged in 2023 and remain above the 11x threshold, according to PitchBook’s latest Quantitative Perspectives report, The Waiting Game…. Subscribe to Read MoreAlready a member? Log in here...
Mega-deals down, mega-fundraising rising Download PitchBook’s Report here. Currents are crashing into each other at the biggest ranges of the PE market. A couple weeks ago we covered a sizable drop in mega-deals, first unearthed in PitchBook’s Q3 US PE Breakdown. … Subscribe to Read MoreAlready a member? Log in here...