The Italian private equity, venture capital and private debt market in the first semester 2016

Transcription

1 The Italian private equity, venture capital and private debt market in the first semester 2016

2 THE ITALIAN PRIVATE EQUITY AND VENTURE CAPITAL MARKET IN THE FIRST SEMESTER 2016

3 Agenda Fundraising Investments Disinvestments 3

4 Fundraising activity (Euro Mln) 3,365 1, I sem I sem I sem I sem I sem I sem

5 Fundraising activity: annual vs 1 st semester 2016 (Euro Mln) 4,047 2,833 1,355 1,477 1, I sem

6 Fundraising activity by source in the 1 st semester 2016 (Euro Mln) Captive fundraising Market fundraising Total fundraising 6

7 New funds raised on the market (Euro Mln) 1, I sem I sem I sem I sem I sem I sem

8 Distribution by source of new funds raised I sem 2015 I sem % 31% 30% 23% 14% 14% 9% 8% 8% 8% 0% 3% 4% 2% 5% 0% 1% 1% Fund of funds Individual investors and family office Insurance companies Banks Pension funds Fundations Industrial investors Public sector Other 8

9 Funds raised by geographical distribution Italy Abroad 21% 11% 26% 68% 48% 54% 79% 89% 74% 32% 52% 46% I sem

10 Fundraising expected allocation Early Stage Expansion Buy out Other 16% 10% 29% 2% 20% 20% 15% 30% 49% 5% 56% 65% 49% 72% 60% 42% 23% 17% 4% 7% 1% 9% I sem

11 Agenda Fundraising Investments Disinvestments 11

12 Investment activity Number Companies Amount (Euro Mln) 4,898 1,524 1,407 1,890 1, I sem I sem I sem I sem I sem I sem

13 Investment activity: annual vs 1 st semester 2016 Number Companies Amount (Euro Mln) 4,620 4,898 3,583 3,230 3,430 3, I sem

14 Invested amount by deal size Amount small and medium deal (Euro Mln) Amount large and mega deal (Euro Mln)* 4, , I sem I sem I sem I sem I sem I sem *Investment with an amount between 150 and 300 Euro Mln (large deal) or more than 300 Euro Mln (mega deal) 14

15 Investment distribution by stage in the 1 st semester 2016 Amount (Euro Mln) Number 3, Buy Out Replacement Expansion Turnaround Infrastructures Early stage 15

16 Investments distribution by type of players in th 1 st semester 2016 Amount (Euro Mln) Number 95 3, International operators Domestic istitutional operators Domestic private operators Regional operators 16

17 Average invested amount by stage in the 1 st semester 2016 (Euro Mln) Average Amount (Euro Mln) Average Market Buy Out Replacement Turnaround Expansion Infrastructured Early stage 1 17

18 Average invested amount by stage without large and maga deals in the 1 st semester 2016 (Euro Mln) Average Amount (Euro Mln) 22,0 15,6 11,1 6,7 6,8 3,8 0,7 Average Market Turnaround Buyout Replacement Infrastructured Expansion Early stage 18

19 Early stage investments Number Amount (Euro Mln) I sem I sem I sem I sem I sem I sem

20 Early stage investments: annual activity vs 1 st semester 2016 Number Amount (Euro Mln) I sem

21 Expansion investments Number Amount (Euro Mln) * I sem I sem I sem I sem I sem I sem *Amount without infrastructure deals 21

22 Expansion investments: annual activity vs 1 st semester 2016 Number Amount (Euro Mln) 1, * I sem *Amount without infrastructure deals 22

23 Turnaround investments Number Amount (Euro Mln) I sem I sem I sem I sem I sem I sem

24 Turnaround investments: annual activity vs 1 st semester 2016 Number Amount (Euro Mln) I sem

25 Buy out investments Number Amount (Euro Mln) 3,404 1, ,152 1, I sem I sem I sem I sem I sem I sem

26 Buy out investments: annual activity vs 1 st semester 2016 Number Amount (Euro Mln) 3,255 3,404 2,261 2,069 2,151 2, I sem

27 Distribution of buy out investments by size (number) I sem % 66% 45% 34% 33% 28% 21% 4% 6% Small (0-15 Euro Mln) Medium ( Euro Mln) Large and Mega (>150 Euro Mln) 27

28 Distribution of initial and follow on investments by number Initial Follow on* 58% 54% 61% 51% 63% 52% 42% 46% 39% 49% 37% 48% I sem *Secondary buy out included 28

29 Geographical distribution of investments in the 1 st semester 2016 (number) ITALY 95% 5% 75% 13% 7% South & Islands Centre North Europe & Rest of the world 29

30 Geographical distribution of investments in the 1 st semester 2016 (amount) ITALY 98% 2% 75% 1% 22% South & Islands Centre North Europe & Rest of the world 30

31 Regional distribution of investments in the 1 st semester 2016 (amount)

32 Distribution of investments by target companies employees in the 1 st semester 2016 (number) SME 79% 1% 4% 5% 12% 20% 19% 39% >1,000 32

33 Distribution of investments by target companies turnover (Euro Mln) in the 1 st semester 2016 (number) SME 70% 10% 9% 11% 7% 11% 15% 37% >250 33

34 Distribution of investments by sector in the 1 st semester 2016 (number)

35 Investments distribution in high tech companies Number Amount % 37% % 32% % 40% % 42% % 40% % 35% 1 Sem % 23% 35

36 Distribution of investments in high tech companies by sector in the 1 st semester 2016 (number) ICT 45% Heathcare 29% Biotechnology 19% Manufacturing 3% Energy and environment 3% 36

37 Agenda Fundraising Investments Disinvestments 37

38 Disinvestment activity Number Companies Amount (Euro Mln) 2,337 1,914 1,518 1, I sem I sem I sem I sem I sem I sem

39 Disinvestment activity: annual vs 1 st semester 2016 Number Companies Amount (Euro Mln) 3,180 2,633 2,903 1,933 1,569 1, I sem

40 Sale to another private equity firm Sale to trade buyers Management/Owner buyback Write off Sale to private individual/family office/financial istitutions IPO/Sale of quoted equity post flotation Other Distribution of disinvestment by way out in the 1 st semester 2016 Number Amount 68% 26% 33% 26% 12% 12% 9% 2% 1% 1% 4% 4% 1% 1% 40

41 Distribution of disinvestment by type of original investment in the 1 st semester 2016 (number) 42% 26% 26% 2% 4% Replacement Turnaround Early stage Expansion Buy out 41

42 THE ITALIAN PRIVATE DEBT MARKET IN THE FIRST SEMESTER 2016

43 Agenda Fundraising Investments 43

44 New funds raised on yhe market (Euro Mln) Fundraising by type of operator (amount) (Euro Mln) Distribution by source of new funds raised between 2013 and first semester 2016 Domestic operators International operators 15% % % I sem % Pension fuds Istitutional fund of funds Banks 15% Public sector Insurance companies 44

45 Agenda Fundraising Investments 45

46 Investment activity Domestic operators Invested amount (Euro Mln) International operators Number of investments Domestic operators International operators target companies (period 2014-I sem. 2016) I sem I sem

47 Characteristics of investment activity Instruments distribution (period 2014-I sem. 2016) Size of subscriptions (Bonds, period 2014-I sem 2016) 9% % 7% % 84% % Loans Hybrid instruments Bonds Nota: Euro Mln 47

48 Characteristics of target companies Geographical distribution of target companies Distribution of investments by sector of target companies Business products and services Consumer goods and services Energy and environment ICT Healthcare and biotech 48

49 Characteristics of target companies by size Distribution of investments by target companies employees in the 1 st semester 2016 (number) Distribution of investments by target companies turnover (Euro Mln) in the 1 st semester 2016 (number) % 38% 55% 62% > 250 > 50 Nota: elaborazioni basate sulle società target e non sullo strumento utilizzato dal singolo operatore (periodo 2014-I sem. 2016) 49

50 The italian private equity, venture capital and private debt market in the first semester 2016