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PE Index 2010-Q4. The Private Equity Index rose by 5.0% from the previous quarter  The Private Equity Index registered 115.3 in 2010-Q4. This was up.

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Presentation on theme: "PE Index 2010-Q4. The Private Equity Index rose by 5.0% from the previous quarter  The Private Equity Index registered 115.3 in 2010-Q4. This was up."— Presentation transcript:

1 PE Index 2010-Q4

2 The Private Equity Index rose by 5.0% from the previous quarter  The Private Equity Index registered in 2010-Q4. This was up from the revised level of for 2010-Q3 and 91.2 for 2009-Q4. Overall it is 15.2% above the 10-year moving average.

3 2010 dollar volume of private equity-backed M&A increased by 80.8% from the previous year Through Year EndNumber of DealsDeal Value ($ Mil.)Annual Change in Deal Value 20103,466$220, % Q4 913 $68,090 Q3 918 $72,285 Q2 835 $46,960 Q1 800 $33, ,817$122, % 20084,038$240, % 20075,039$791,3420.4% 20064,194$788, % 20053,333$355, % 20042,536$255, % 20031,916$146, % 20021,379$116, % 20011,585$92,179  The total dollar volume of buyout activity in 2010 was nearly double that of 2009 and represents the largest deal volume since  PE-backed M&A volume remains at about one-fourth of the 2007 peak. Source: Thomson Reuters: Financial sponsor backed

4 Equity continues to account for approximately 40% of the average buyout investment Source: Standard & Poor’s Leveraged Commentary & Data; PEGCC  Equity contributions to buyouts remained near record highs, but fell closer to the ten year moving average of 35%. The average gross leverage ratio on buyouts completed in 2010 was 2.41-to-1.

5 2010 fund commitments rose by 4.0% from 2009 Through Year EndNumber of FundsNet Amount Raised (Mil).Annual Change in Amount Raised (%) $104, % Q4 97 $23,172.4 Q3 95 $26,257.5 Q2 86 $25,953.2 Q1 103 $29, $100, % $376, % $382, % $302, % $219, % $99, % $71, % $59, % $95,404.6  Fund commitments secured rose by 77.9% in 2010-Q4 from the same period a year ago.  Private equity fundraising remains near 2004 levels, primarily due to high levels of uncalled capital reserves. Source: Thomson Reuters: Buyout, growth capital and mezzanine; PEGCC

6 2010 global private equity-backed IPO volume increased by 174.3% from the previous year Through Year EndNumber of IssuesProceeds Amount (Mil.)Annual Change in Proceeds Amount $35, % Q4 32 $10,581.1 Q3 23 $6,625.5 Q2 26 $13,211.8 Q1 14 $4, $12, % $3, % $39, % $58, % $32, % $21, % $5, % $6, % $2,264.5  2010-Q4 private equity-backed IPO volume rose by 41.3% from the same period a year ago.  Annual IPO exit volume remains far below its high of $58.5 billion in 2006.

7 Exit volume doubles in 2010 relative to 2009; Q4 exit volume increases by 69% Source: PitchBook, Thomson Reuters; PEGCC Through Year EndNumber of ExitsExit Amount (Mil.)Annual Change in Exit Amount $110, % Q4 148 $38,981 Q3 111 $23,030 Q2 128 $30,049 Q1 93 $18, $48, % $84, % $124,3509.1% $113, % $66, % $71, %

8 Callable capital reserves (“dry powder”) remain near record levels Date (as of)Buyout Distressed Private Equity MezzanineOtherReal EstateVenture Dec Dec Dec Dec Dec Dec Dec Jun Sep Jan Callable Capital Reserves/Dry Powder by Private Equity Type ($ Bil.) Source: Preqin


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