Fund mangers may claim to hate private equity, but so far this quarter they have helped the industry sell a record number of assets by tapping equity markets.
Buyout firms have sold 201 stakes valued at $85bn (£52.5bn) so far this quarter, 5pc higher than the record established in the last three months of 2010, according to research firm Preqin.
European firms were most aggressive with 82 sales valued at $57.9bn - double the previous quarter's $28.6bn - driven by companies gearing up for the first major round of fund raising since the financial crisis.
Montagu completed the fund raising for its latest fund hitting its €2.5bn (£2.2bn) target and last month BC Partners said investors had committed €4bn – a third more than it expected – at the close of the first round in a fund aimed at reaching €6bn. Rivals Apax and Cinven are also informally tapping up investors as buy-out groups across Europe look to raise a total of $44bn for 47 funds.
Such fundraisings depend on firms demonstrating a strong track record of high returns.
"Capital is increasingly being returned to investors, and this will be committed to new funds if investors intend to maintain their current allocation levels," said Manuel Carvalho at Preqin. Read More
No comments:
Post a Comment