Eamon

The M&A exit scene during the latest second quarter through June 20 had less activity compared to the same period a year earlier, and compared to the preceding quarter. U.S.-based financial sponsors completed 73 exits during the period, and those with reported financial terms combined for about $9.6 billion.

Buyout and mezzanine shops in the U.S. have collectively secured roughly $74.5 billion this year. The latest tally reflects the activities of many firms, such as Harvest Partners LLC. The firm secured more for its Harvest Partners VI LP, which now has $1.03 billion in commitments towards its $1.1 billion target.

Domestic buyout and mezzanine shops have continued to secure more capital commitments to bring the fundraising tally this year to $66.4 billion. The past two weeks has seen a number of interim closes.

The past couple of weeks were busy for U.S.-based buyout and mezzanine firms. On the fundraising front, Warburg Pincus LLC secured $5 billion towards Warburg Pincus Private Equity XI LP’s $12 billion goal.

M&A had a lackluster start in 2012 and this dullness contributed to a 49 percent drop in investment bank fee payments by financial sponsors. Fees for the first quarter fell to $1.72 billion from $3.36 billion in the same period a year earlier. The aggregate reflects a decrease in contributions from all product categories.

The exit markets were kind to sponsors during the first quarter of 2012. U.S.-based financial sponsors completed about 85 exits via M&A, and also completed about 14 initial public offerings.

U.S.-based buyout and mezzanine firms have collectively raised about $21.6 billion in commitments so far this year. One of the funds that added to the most recent total is Gores Group LLC’s Gores Small Capitalization Partners LP. The vehicle closed at its goal of $300 million. Besides recent closings, other firms are gearing up to […]