EVCA Quarterly Activity Indicator: Q Q Produced for EVCA by PEREP_Analytics

Transcription

1 EVCA Quarterly Activity Indicator: Q1 27-Q3 211 Produced for EVCA by PEREP_Analytics

2 1 Executive Summary Fundraising stabilised above 1bn in Q3 211, confirming the recovery observed since the begining of the year. In the first three quarters of bn have already been raised, 8bn more than in the full year 21. Investment value increased further in Q3, with 11.2bn invested compared to 9.9bn in Q2. More than 1,1 companies received investments in the second quarter. In the period January-September bn was invested, 71% of the total amount invested in the full-year 21. Buyout investment (including replacement capital and rescue/turnaround) increased by 22% from Q2 211, to 9.7bn. Growth capital investment went down by almost a third, to 818m. Venture capital investment reached a historical low at 661m. Divestment at cost (excluding write-offs) went up by 53% in Q3 211 to 6.1bn ( 4.1bn in Q2 211). Similar to previous quarters, more than 4 companies were exited. In the first nine months of 211, divestment reached 17bn, 9% of the total amount divested at cost in the full year 21. A total of 11 companies were exited via trade sale, for a total amount at cost of 3.1bn. Sales to another private equity firm came next with 2.6bn divested at cost from 6 companies.

3 2 Trends in European private equity activity flows 12 1 Index Q1 27=1 Funds raised Investments Divestments at cost

4 3 Evolution of activity flows Incremental amounts raised during quarter! billion 3 Funds raised Investments

5 4 Funds raised Quarterly evolution 12 Index Q1 27=1 Funds raised

6 5 Funds raised by fund stage focus in Q3 211 Mezzanine 9.6% Generalist 1.8% Buyout 84.4% Early-stage.9% Later stage venture.8% Balanced 1.4% Growth capital 1.2%

7 6 Investments by amount Quarterly evolution 12 1 Index Q1 27= Investments

8 7 European investments at 11.2bn in Q3 211! billion Total venture Growth Buyout

9 Evolution of European private equity investment activity by amount 25 Index Q1 27=1 Early-stage Later-stage 2 15 Growth Buyout, rescue/turnaround and replacement capital Total investment 1 5

10 Evolution of European private equity investment activity by number of companies 45 Index Q1 27= Early-stage Later-stage Growth Buyout, rescue/turnaround and replacement capital Total investment

11 1 Amount invested by sector in 21 All private equity Agriculture Business and industrial products Business and industrial services Chemicals and materials Q4 21 Q3 21 Q2 21 Q1 21 Communications Computer and consumer electronics Construction Consumer goods and retail Consumer services: Other Energy and environment Financial services Life sciences Real estate Transportation Unknown ! billion

12 11 Amount invested by sector in 211 All private equity Agriculture Business and industrial products Business and industrial services Chemicals and materials Communications Q3 21 Q2 21 Q1 21 Computer and consumer electronics Construction Consumer goods and retail Consumer services: Other Energy and environment Financial services Life sciences Real estate Transportation Unknown ! billion

13 12 Divestment at cost - Evolution! billion

14 13 Divestment at cost Quarterly evolution 12 Index Q1 27 =

15 14 European private equity divestments exit route trends (amount at cost divested) Index Q1 27 = 1 Trade sale Sale to PE firms Write-offs Other Total divestment

16 15 European divestments by segment in Q3 211 Venture Enterprise capital* # companies divested # companies divested Q2 211 Top Exit routes Trade Sale Secondary 173 m bn 56 Repayment of Silent Partnerships Write-Off 36 m bn m bn 12 * Enterprise capital includes growth, rescue/turnaround, replacement capital and buyout

17 16 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)

18 17 EVCA European Private Equity and Venture Capital Association Bastion Tower Place du Champs de Mars 5 B 15 Brussels Belgium Tel: