Secondary market volume continues to soar as investors get more used to the idea of selling holdings as part of routine portfolio trimming and management. Transaction volume for 2014 nearly doubled from the prior year (see accompanying chart at right).
Fundraising by U.S.-based buyout and mezzanine firms has cooled off as of late, after getting off to a hot start in 2015. On the whole, the year-to-date figure of $34.3 billion is about $13 billion ahead of last year’s total.
Among firms that raise $10 billion-plus-sized funds, Advent International probably gets the least amount of press and attention. Yet it has one of the most consistently strong track records out there–a fact surely not lost on the $235 billion Canada Pension Plan Investment Board.
Massachusetts Pension Reserves Investment Trust Fund comes out on top for the five-year annualized performance in the latest ranking of private equity program performance by the Private Equity Growth Capital Council. The accompanying table shows the top five pensions of the 22 that were ranked, by 5-year annualized returns.
The latest benchmark numbers from the Private Equity Growth Capital Council show that private equity has a substantial lead over public equities measured over 10 years, but it hasn’t been able to keep up with the torrid pace of public equities over shorter periods. If the short-term trend becomes a long-term trend it could become a problem for what is arguably the world’s most expensive asset class.
Among firms that raise $10 billion-plus-sized funds, Advent International probably gets the least amount of press and attention. Yet it has one of the most consistently strong track records out there–a fact surely not lost on the $235 billion Canada Pension Plan Investment Board. Out of 168 active funds backed by Canada’s largest pension, the […]
U.S.-based buyout and mezzanine firms have continued to build off of their hot start. Fundraising totals are almost double of where they were at this time in 2014.
Like many big investors, California Public Employees’ Retirement System has been rolling in distributions these last few years, and Apollo Global Management was one of the biggest contributors from the June 2013 to June 2014 period.
Like many big investors, California Public Employees’ Retirement System has been rolling in distributions these last few years, and Apollo Global Management was one of the biggest contributors from the June 2013 to June 2014 period. Apollo had three funds that ranked among CalPERS’s top five in absolute distributions during that period, producing about $1.4 […]
Last year saw total leverage multiples rise for the fifth consecutive year on average, but they’ve actually been tailing off over the last few quarters. Analysts point to several reasons, including outflows from loan funds, a number of BDCs trading below book value, and widespread exposure among lenders to the struggling oil & gas sector.