Research

H1 2017 Summary - Private Equity Review & Outlook

Highlights

  • Global private equity fundraising continued at a robust level in H1 2017. Commitments to buyout funds were particularly strong. The European and Asia-Pacific markets saw the largest buyout funds ever closed. Venture fundraising volume declined from the recent peak in 2016, but remained at an impressive level.

  • After a slow start, exits to corporations picked up the pace during the second quarter. Additionally, IPOs from private equity and venture capital-backed companies recovered in the second quarter to the highest level in two years supported by record stock markets and low volatility. Furthermore, GPs continued to generate liquidity through post-IPO disposals and credit markets. In the US, dividend recapitalizations more than doubled from a year ago.

  • Although investment volume varied across regions due to volatility in deal flow across large-cap deals, deal flow increased driven by robust activity in the middle market. After a slow start, large-cap deal making rebounded in the US and in Asia Pacific in Q2 2017. In Europe, investment volume was aided by a recovery in the UK market, which exceeded pre-Brexit deal levels, while Southern Europe advanced to the second busiest sub-region.

     

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