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EVCA Quarterly Activity Indicator: Q1 2007-Q2 2011 29 August, 2011 Produced for EVCA by PEREP_Analytics TM.

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Presentation on theme: "EVCA Quarterly Activity Indicator: Q1 2007-Q2 2011 29 August, 2011 Produced for EVCA by PEREP_Analytics TM."— Presentation transcript:

1 EVCA Quarterly Activity Indicator: Q Q August, 2011 Produced for EVCA by PEREP_Analytics TM

2 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Methodology Data collected via questionnaires and reliable public sources Definition of Europe: for deals, it is defined by the location of the target; for fundraising it covers funds primarily focused on Europe Fundraising: only formal closings are included with committed amount Investments: amounts are measured by equity value; debt is included only IF provided by PE funds (bank leverage excluded) Divestments: measured at amount at cost divested (not proceeds)

3 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Trends in European private equity activity flows Source: EVCA/PEREP_Analytics Index Q1 2007=

4 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Evolution of activity flows Incremental amounts raised during quarter Source: EVCA/PEREP_Analytics

5 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Funds raised – Quarterly evolution Index Q1 2007=100 Source: EVCA/PEREP_Analytics

6 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Funds raised by fund stage focus Source: EVCA/PEREP_Analytics

7 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Funds raised by fund stage focus in Q Source: EVCA/PEREP_Analytics

8 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Fundraising profiles for final fund closings in 2007 Q1 2007Q2 2007Q3 2007Q Fund stage Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Early-Stage1, Later Stage Venture Balanced All Venture1, , Growth Buyout3, , , ,899231,170 Mezzanine2,50721,2541, Generalist Independent Funds Raised 8, , , , Source: EVCA/PEREP_Analytics

9 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Fundraising profiles for final fund closings in 2008 Q1 2008Q2 2008Q3 2008Q Fund stage Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Early-Stage Later Stage Venture Balanced All Venture 1, Growth 501 1, , Buyout 10, , ,479 16, ,068 13, Mezzanine Generalist , Independent Funds Raised 12, , , , Source: EVCA/PEREP_Analytics

10 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Fundraising profiles for final fund closings in 2009 Q1 2009Q2 2009Q3 2009Q Fund stage Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Early-Stage Later Stage Venture Balanced All Venture , Growth Buyout 5,2354 1, , Mezzanine Generalist Independent Funds Raised 6, , , , Source: EVCA/PEREP_Analytics

11 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Fundraising profiles for final fund closings in 2010 Q1 2010Q2 2010Q3 2010Q Fund stage Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Early-Stage Later Stage Venture Balanced All Venture Growth 1, Buyout 5, , , , Mezzanine Generalist Independent Funds Raised 7, , , , Source: EVCA/PEREP_Analytics

12 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Fundraising profiles for final fund closings in 2011 Source: EVCA/PEREP_Analytics Q1 2011Q Fund stage Amount (€ million) Number of funds Average fund size Amount (€ million) Number of funds Average fund size Early-Stage Later Stage Venture Balanced All Venture Growth Buyout 1, , Mezzanine Generalist Independent Funds Raised 3, ,

13 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Investments by amount – Quarterly evolution Index Q1 2007=100 Source: EVCA/PEREP_Analytics

14 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | European investments at €9.9bn in Q Source: EVCA/PEREP_Analytics

15 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Investments by stage distribution (equity amount invested) Source: EVCA/PEREP_Analytics

16 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Investments by stage distribution (number of companies invested) Source: EVCA/PEREP_Analytics

17 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Buyouts split by size (equity value, bank leverage excluded) Source: EVCA/PEREP_Analytics

18 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Buyouts split by size (number of companies) Source: EVCA/PEREP_Analytics

19 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2007 All private equity Source: EVCA/PEREP_Analytics

20 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2008 All private equity Source: EVCA/PEREP_Analytics

21 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2009 All private equity Source: EVCA/PEREP_Analytics

22 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2010 All private equity Source: EVCA/PEREP_Analytics

23 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2011 All private equity Source: EVCA/PEREP_Analytics

24 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2007 Venture capital Source: EVCA/PEREP_Analytics

25 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2008 Venture capital Source: EVCA/PEREP_Analytics

26 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2009 Venture capital Source: EVCA/PEREP_Analytics

27 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2010 Venture capital Source: EVCA/PEREP_Analytics

28 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2011 Venture capital Source: EVCA/PEREP_Analytics

29 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2007 Buyout & growth Source: EVCA/PEREP_Analytics

30 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2008 Buyout & growth Source: EVCA/PEREP_Analytics

31 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2009 Buyout & growth Source: EVCA/PEREP_Analytics

32 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2010 Buyout & growth Source: EVCA/PEREP_Analytics

33 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Amount invested by sector in 2011 Buyout & growth Source: EVCA/PEREP_Analytics

34 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Divestment at cost - Evolution Source: EVCA/PEREP_Analytics

35 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Divestment at cost – Quarterly evolution Index Q = 100 Source: EVCA/PEREP_Analytics

36 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | European private equity divestments – exit route trends ( amount at cost divested) Index Q = 100 Source: EVCA/PEREP_Analytics

37 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Venture divestment at cost in 2007 % of amount Source: EVCA/PEREP_Analytics

38 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Buyout & growth divestment at cost in 2007 % of amount Source: EVCA/PEREP_Analytics

39 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Venture divestment at cost in 2008 % of amount Source: EVCA/PEREP_Analytics

40 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Buyout & growth divestment at cost in 2008 % of amount Source: EVCA/PEREP_Analytics

41 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Venture divestment at cost in 2009 % of amount Source: EVCA/PEREP_Analytics

42 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Buyout & growth divestment at cost in 2009 % of amount Source: EVCA/PEREP_Analytics

43 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Venture divestment at cost in 2010 % of amount Source: EVCA/PEREP_Analytics

44 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Buyout & growth divestment at cost in 2010 % of amount Source: EVCA/PEREP_Analytics

45 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Venture divestment at cost in 2011 % of amount Source: EVCA/PEREP_Analytics

46 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Buyout & growth divestment at cost in 2011 % of amount Source: EVCA/PEREP_Analytics

47 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | European divestments by segment in Q Venture € 186 m # companies divested 55 € 72 m 27 € 42 m 7 Buyout & growth # companies divested € 1.3 bn € 1.5 bn € 0.3 bn Q Top Exit routes Secondary Trade Sale Write-Off Source: EVCA/PEREP_Analytics Repayment of Principal Loans Sale of Quoted Equity

48 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | Conclusions  Fundraising picked-up again in the second quarter of 2011, to €10.5bn, compared with €6.9bn raised in the first quarter of the year. The increase was primarily driven by an increase in growth capital fundraising from €0.3bn in Q1 to €3.6bn in Q2.  Investment value rose, from €8.4bn in Q to €9.9bn in Q Like in Q1 more than 1000 companies received investments in the second quarter.  Buyout investment (including replacement capital and rescue/turnaround) increased by 25% from Q1 2011, to €8bn. Growth capital investment again remained stable at €1.2bn. Venture capital investment decreased by 11% to €0.7bn.  Divestment at cost (excluding write-offs) fell in Q to €4bn (€4.5bn in Q1 2011). More than 400 companies were exited. The amount written-off in Q fell to €0.1bn (€2.3bn Q1 2011).  A total of 104 companies were exited via trade sale, for a total amount at cost of €1.4bn. Sales to another private equity firm came next with €1.5bn divested at cost from 67 companies.

49 | Creating lasting value EVCA Quarterly Activity Indicator: Q Q | EVCA European Private Equity and Venture Capital Association Bastion Tower Place du Champs de Mars 5 B – 1050 Brussels – Belgium Tel:


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