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EMPEA Industry Statistics

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Presentation on theme: "EMPEA Industry Statistics"— Presentation transcript:

1 EMPEA Industry Statistics
Fundraising & Investment Analytics – 1H 2011 Historical Statistics – Since 2002 Performance Data – Q4 2010 Data as of 30 June Published 25 August 2011.

2 Table of Contents Fundraising & Investment Analytics – 1H 2011
Summary………………………………………………………………………………………. 4 Fundraising – By Region (Members Only)………………………………… Fundraising – Funds with Final Closes (Members Only)…………………. 6 Investment – By Region (Members Only)………………………………………. 7 Fundraising – Largest Funds By Final Close (Members Only)…………. 8 Fundraising – Largest Funds By Region (Members Only)……………….. 9 Investment – Largest Deals By Region (Members Only)……………….. 17 Historical Statistics – Since 2002 Fundraising – By Region………………………………………………………………… 20 Investment – By Region…………………………………………………………………. 22 Private Equity Penetration – By Region…………………………………………. 24 Performance Data – Q4 2010 Pooled End-to-End Returns – By Region (Members Only)……………… 26 Methodology……………………………………………………………………………………. 31 © Emerging Markets Private Equity Association. Data as of 30 June Published 25 August

3 EMPEA Industry Statistics
Fundraising & Investment Analytics – 1H 2011 Historical Statistics – Since 2002 Performance Data – Q4 2010 Data as of 30 June Published 25 August 2011. © Emerging Markets Private Equity Association 3

4 Summary (1H 2011) EM PE Fundraising & Investment, 2007–1H 2011 (US$B)
EM PE Fundraising & Investment as a Percent of Global Total, 2007–1H 2011 EM PE Deal Volume by Quarter, 2008–1H 2011 © Emerging Markets Private Equity Association. Data as of 30 June Published 25 August

5 EMPEA Industry Statistics
Fundraising & Investment Analytics – 1H 2011 Historical Statistics – Since 2002 Performance Data – Q4 2010 Data as of 30 June Published 25 August 2011. © Emerging Markets Private Equity Association. 5

6 Fundraising – By Region (1H 2011)
EM PE Fundraising Totals by Region, 2002–1H 2011 (US$m) Region 2002 2003 2004 2005 2006 2007 2008 2009 2010 1H 2011 Developed Asia (JANZ) 2,128 2,570 4,867 2,902 7,500 8,100 7,149 1,752 2,893 347 United States 68,200 49,300 94,000 162,000 214,000 324,000 302,000 137,000 87,000 50,000 Western Europe 28,823 33,890 37,510 85,030 148,157 119,809 113,290 25,568 24,143 19,538* Emerging Asia (ex-JANZ) 1,093 2,200 2,800 15,446 19,386 28,668 39,660 15,938 14,206 16,361 CEE & CIS 530 406 1,777 2,711 3,272 14,629 5,559 1,586 1,192 631 LatAm & Caribbean 407 417 714 1,272 2,656 4,419 4,461 2,248 5,608 4,148 MENA 1,047 726 326 2,669 3,207 5,333 6,875 1,070 448 91 Sub-Saharan Africa 151 741 340 791 2,092 2,034 2,241 964 1,499 1,056 Multi-Region N/A 116 618 3,630 2,580 4,077 7,721 801 524 350 Emerging Markets 3,228 4,606 6,575 26,519 33,193 59,160 66,517 22,607 23,478 22,636 Global 102,378 90,366 162,142 336,121 499,293 617,560 617,466 243,359 210,271 125,183* Sources: Emerging Markets – EMPEA Developed Asia (JANZ) – Asia Private Equity Review United States – PitchBook Western Europe – European Venture Capital Association Global fundraising totals are calculated as follows: “Preqin’s global total” - “Preqin’s Asia/ROW total” + “Asia Private Equity Review’s Developing Asia (JANZ) fundraising total” + “EMPEA’s emerging markets fundraising total”. The Preqin "Global" and "Asia/ROW" statistics are not included in the table above to improve readability. © Emerging Markets Private Equity Association. Data as of 30 June Published 25 August *Estimate - EVCA's Q data pending publication. 6

7 Fundraising – By Select Markets (1H 2011)
EM PE Fundraising Totals by Select Markets, 2002–1H 2011 (US$m) Region 2002 2003 2004 2005 2006 2007 2008 2009 2010 1H 2011 Brazil 270 230 480 158 2,098 2,510 3,589 401 1,078 3,000 China 105 213 311 2,243 4,279 3,890 14,461 6,617 7,509 10,285 India 142 236 706 2,741 2,884 4,569 7,710 3,999 3,268 2,456 Russia/CIS 100 175 200 1,254 222 1,790 880 455 75 60 South Africa 151 741 340 348 1,190 546 218 N/A 423 74 Note: Totals only refer to country-dedicated vehicles and do not include allocation limits or targets within global or regional vehicles. © Emerging Markets Private Equity Association. Data as of 30 June Published 25 August

8 Investment – By Region (1H 2011)
EM PE Investment Totals by Region, 2002–1H 2011 (US$m) Region 2002 2003 2004 2005 2006 2007 2008 2009 2010 1H 2011 Developed Asia (JANZ) 8,869 13,072 7,483 4,892 26,907 10,971 16,432 4,469 9,749 8,310 United States 39,000 83,000 126,000 173,000 301,000 595,000 215,000 60,000 148,000 Western Europe 28,928 36,526 50,332 55,779 93,934 104,366 74,763 33,316 54,638 22,392* Emerging Asia (ex-JANZ) 250 4,528 4,316 7,692 22,468 30,370 28,270 13,867 18,308 10,785 CEE & CIS 377 676 986 842 4,903 8,345 6,344 3,323 2,398 1,765 LatAm & Caribbean 710 822 609 1,015 4,264 7,545 6,962 1,318 6,648 1,253 MENA 132 291 137 524 1,751 3,526 3,370 2,215 793 75 Sub-Saharan Africa 530 651 1,154 1,723 1,292 3,362 2,889 1,383 631 256 Emerging Markets 1,999 6,968 7,202 11,796 34,678 53,148 47,834 22,104 28,778 14,134 Global 78,795 139,567 191,016 245,467 456,519 763,485 354,030 119,888 241,165 104,836* Sources: Emerging Markets – EMPEA Developed Asia (JANZ) – Asia Private Equity Review United States – PitchBook Western Europe – European Venture Capital Association Global investment totals are the sum of the four regions listed above. © Emerging Markets Private Equity Association. Data as of 30 June Published 25 August *Estimate - EVCA's Q data pending publication. 8

9 Investment – By Region (1H 2011)
EM PE Investment Totals by Select Markets, 2002–1H 2011 (US$m) Region 2002 2003 2004 2005 2006 2007 2008 2009 2010 1H 2011 Brazil 261 321 120 474 1,342 5,285 3,020 989 4,604 977 China 126 1,667 1,389 2,991 8,200 9,458 8,994 6,288 9,190 5,831 India 40 456 1,272 1,377 5,687 9,905 7,483 4,011 6,222 3,754 Russia/CIS 127 113 240 402 805 2,647 217 1,516 383 South Africa 407 651 1,154 774 895 3,362 2,019 748 47 35 © Emerging Markets Private Equity Association. Data as of 30 June Published 25 August

10 Private Equity Penetration (2009–2010)
Global Private Equity Penetration, 2009–2010 Sources: Emerging markets – EMPEA United Kingdom – Centre for Management Buy-Out Research United States – PitchBook Israel – Israel Venture Capital Research Center Japan – Asia Private Equity Review All GDP data – International Monetary Fund Methodology: Annual private equity investment divided by annual gross domestic product. © Emerging Markets Private Equity Association. Data as of 31 December Published 25 August

11 Methodology The statistics presented in this report are drawn from EMPEA’s proprietary database of funds and are based on data from press releases and trade publications as well as communications with industry participants and regional and local venture capital associations. Regions in this report are defined as: • Asia: all Asia, excluding funds whose primary mandate is investments in Japan, Australia or New Zealand. Fundraising totals reported herein reflect only official closes (first, second and/or final) as reported in public sources and by the firms themselves. Capital commitments accruing prior to or between official closes are not included in the totals. Investment totals included in the report reflect total equity amounts for transactions in which financial details have been reported. For both fundraising and investment data, amounts have been confirmed wherever possible through information provided by the fund managers themselves. • Latin America and Caribbean: Central and South America and the Caribbean region (excluding Puerto Rico). • Central & Eastern Europe (CEE) and Commonwealth of Independent States (CIS): European Union accession countries, Turkey, the Baltics and Balkans, as well as CIS countries, including Russia. • Middle East and North Africa (MENA): Gulf Cooperation Council (GCC), Afghanistan, Iran, Iraq, Jordan, Lebanon, Pakistan, Palestinian Territories, Syria and Yemen, as well as Algeria, Egypt, Libya, Morocco, Sudan and Tunisia. The statistics in this report are based on the “market” approach, i.e., EMPEA categorizes activity based on the countries or regions in which fund managers intend to invest (in the case of fundraising) or the country headquarters of the investee company (in the case of investments). In the case of global funds, only those funds investing primarily in emerging markets are included in fundraising totals (e.g., pan-Asia funds with a significant portion of capital intended for investment in China and India). Country-dedicated fundraising analytics reflect only those funds with a single country strategy or mandate. Target allocations to individual markets within a broader global or regional fund are not attributed to single country fundraising totals. • Sub-Saharan Africa: all Africa, excluding funds whose primary mandate is investments in North Africa (Algeria, Egypt, Libya, Morocco, Sudan and Tunisia). Statistics in this publication exclude real estate funds and funds of funds. Infrastructure funds managed by private equity firms and making private equity-style investments are included in this analysis (i.e., equity investments in infrastructure-related industries). Infrastructure investments that fit the conventional model are not included (i.e., greenfield projects and/or project finance). Secondary investments are also excluded from investment totals because they do not represent an incremental increase in private equity capital in emerging markets, but they are included in exhibits for reference. For any questions, and to request the underlying constituent fundraising and investment data, contact or ext. 240. Disclaimer: This information is intended to provide an indication of industry activity based on best information available from public and proprietary sources. EMPEA has taken measures to validate the information presented herein but cannot guarantee the ultimate accuracy or completeness of the data provided. EMPEA is not responsible for any decision made or action taken based on information drawn from this report. © Emerging Markets Private Equity Association. 11

12 About EMPEA The Emerging Markets Private Equity Association (EMPEA) is an independent, global membership association whose mission is to catalyze private equity and venture capital investment in the emerging markets of Africa, Asia, Europe, Latin America and the Middle East. EMPEA’s 290+ members include the leading institutional investors and private equity and venture capital fund managers across developing and developed markets. EMPEA leverages an unparalleled global industry network to deliver authoritative intelligence, promote best practices, and provide unique networking opportunities, giving our members a competitive edge for raising funds, making good investments and managing exits to achieve superior returns. Sarah E. Alexander Kyoko Terada President and CEO Senior Manager, Member Services Carlos Perry Shannon Stroud Chief Operating Officer Director, Programs and Events Jennifer Choi Emily Sandhaus VP, Industry and External Affairs Manager, Programs and Events Nadiya Satyamurthy Holly Freedman Director, Research Director, Marketing and Communications Mike Casey Meaghan Bixby Senior Associate, Research Manager, Digital Communications Ted Hickey Carolyn Kolb Senior Analyst, Research Business Analyst Emily Stromquist Aisha Richardson Executive Assistant, Office Manager Neeraj Borle Hong Kong Office Analyst, Research Ruby Poon Regional Manager – Asia th Street NW • Suite 100 • Washington, DC USA Phone: • Fax: • Web: empea.net © Emerging Markets Private Equity Association. 12


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