|
 | PitchBook Newsletter | | Private Equity Edition |
|
| |
| Powered by the PitchBook Platform. Learn more» | | 575,604 Deals | 35,309 Funds | 22,821 Limited Partners | 29,426 Advisors | |
|
WEDNESDAY, JULY 27, 2016  | |
|  | |
|
Liberal spending: How PE invests in Democratic-leaning states PitchBook SoundOff: Pokémon GO, post-Brexit M&A, Uber, PE in tech Is Pokémon GO just a fad? Should consumers care where Uber gets its money? Why's PE messing around in software and emerging tech?
Four of our writers sound off |
|
What Janet Yellen and Mario Draghi have in common with Recep Erdogan and Adolf Hitler. [Epsilon Theory]
According to an industry expert, one Brexit effect could be an uptick in PE-backed real estate IPOs. [Irish Times]
The march of progress in retail is relentless—just ask the recently bankrupt Sports Authority and Aéropostale. Even industry stalwarts like Nordstrom are being forced to adapt or die. [The Los Angeles Times]
A common theme so far in 2Q earnings reports: The executives of publicly-traded PE firms complaining about their share price. [Bloomberg] |
|
We just surpassed 15K Twitter followers! | Make sure to follow us @PitchBook to join the conversation and get early access to our content before it runs in the newsletter. |
|
2008 Vintage U.S. Buyout Funds with Energy Investments | | Median IRR: | 13.00% | | Top Quartile IRR Hurdle Rate: | 24.20% | | Median TVPI: | 1.4x | | Average Amount Distributed: | $3.32 billion |
| |
Select Top Performers (based on net IRR) | | |
| Benchmark, Peer Group & Returns Data on 20,000 Funds
PitchBook, setting a higher bar for performance benchmarking |
|
JM Swank brings right recipe for Platinum | Platinum Equity has completed its acquisition of JM Swank, a distributor of food ingredients, from ConAgra Foods (NYSE: CAG). The company operates a network of warehouses and distribution centers in the U.S. | Logistics North Liberty, IA | | |
|
|
ZS Fund picks up Amerijet from H.I.G. Capital SatelliteFinance Conference on August 18 in San Francisco It is arguably one of the most interesting times in the history of equity and debt capital investments for the commercial satellite industry. We’re seeing some of the largest satellite fleet operators struggling to re-capitalize their balance sheets while private capital is flowing freely into disruptive Silicon Valley firms. Has the financial community shifted its focus? Will institutional investors start exiting positions in established operators? Are more hedge funds ready to short, and will the activists launch more campaigns?
There will be no better forum to discuss and consider these key issues than the SatelliteFinance Conference on August 18 in San Francisco. In a collaborative and interactive environment, we will explore the micro-economic factors that are driving strategy decisions and also contemplate the broader influences from the capital markets and the geo-political environment. It’s what SatelliteFinance editor Jason Rainbow calls the Great Debate.
Register now with code PBUser to receive a $100 discount. |
|
Sun Capital reportedly acquires door maker General Atlantic sells OptionsHouse to E*TRADE | General Atlantic has agreed to sell Aperture New Holdings, the parent company of OptionsHouse, to E*TRADE Financial (NASDAQ: ETFC) for $725 million in cash, exiting an investment from 2014. The transaction is expected to close in 4Q. | |
|
| VMG Partners has sold family-focused lifestyle brand Babyganics to SC Johnson, exiting an investment from the firm’s second fund, which closed in 2011. Babyganics is a provider of laundry products, dish soaps, diapers, cleaners and other personal-care products and household goods. | Personal Products Hicksville, NY | | |
|
|
AEA-backed superstore sets IPO terms | Household décor retailer At Home plans to sell 8.67 million shares for between $14 and $16 apiece when it lists on the NYSE under the symbol HOME, according to an SEC filing; a midpoint pricing would raise about $130 million. AEA Investors owns a 72.7% pre-IPO stake in the company. | Specialty Retail Plano, TX |
|
|
Amid political turmoil, Abraaj raises $526M to invest in Turkey | The Abraaj Group has closed its first Turkey fund on $486 million and raised a further $40 million for co-investment, in total exceeding the firm’s target of $500 million. Operating from its Istanbul office, Abraaj will invest the fund in middle-market companies in sectors that would benefit from increased domestic appetite, including consumer goods, retail and financial services. Abraaj used the vehicle to invest in Turkish bank Fibabanka earlier this year. | Istanbul, Turkey PE Growth |
|
|
KKR exceeds expectations with 2Q earnings | KKR has reported economic net income of $191.2 million during 2Q, down from the $746.7 million logged during 2Q 2015 but a significant uptick from the $553 million loss recorded for 1Q 2016. The firm's total AUM grew to $131 billion last quarter, up 14% YoY. KKR's 2Q profits were $93.9 million, compared to $376.3 million in 2Q 2015 and a loss of $329.9 million in 1Q 2015. Its private equity portfolio appreciated 4.5% in 2Q, bringing the year-to-date increase to 6%. | |
|
Cressey & Co. makes Dave Rogero partner |
| The best tool for private
equity professionals to: | |
|
Want to learn more? Contact our team of private equity specialists. US +1 (206) 623-1986 UK +44 (0)207-190-9809 [email protected] |
|
|
