4Q 2010 PE & VC Presentation Deck
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: : Fall Fall 2010 2010 PitchBook 4Q 2010 Private Equity Reporting Deck Request a demonstration or training: Email: [email protected] Phone: 877-267-5593 For additional analysis or slides: Email: [email protected] Phone: 206-623-1986
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Private equity research firm, PitchBook Data, Inc. (www.pitchbook.com), has published its 4Q 2010 PE & VC covering PE activity through the first half of 2010. Please feel free to utilize these slides for conferences, board meetings and other PE-related presentations. The slides were all sourced from the PitchBook Platform and cover trends in private equity fundraising, investment and exits.
Transcript of 4Q 2010 PE & VC Presentation Deck
: : Fall Fall 20102010
PitchBook 4Q 2010 Private Equity Reporting Deck
Request a demonstration or training:Email: [email protected] Phone: 877-267-5593
For additional analysis or slides:Email: [email protected]: 206-623-1986
About the PitchBook Platform PitchBook is an independent and impartial research firm dedicated to providing premium data, news and analysis to the private equity industry. As a specialty-focused information resource, PitchBook's core strength is its ability to meticulously collect, organize and analyze hard to find private equity and venture capital deal and fund data.
PitchBook’s mission is to provide its clients with the highest quality private equity information, with an acute focus on deals and companies. PitchBook aims not only to offer market-leading proprietary data, but to also provide the tools that help industry professionals effectively find, share and use information to make better decisions.
Three Aspects of Private EquityFundraising, Investment & Exits Trends
Private Equity Private Equity InvestmentInvestment
Capital Invested Through 3Q 2010 Surpasses 2009
Number of Deals Closed and Total Capital Invested by Year
Source: PitchBook
2010 Capital Invested Continues Upward Trend
Number of Deals Closed and Total Capital Invested by Quarter
Middle-Market Deal Activity Increases
Percentage of Deal Volume (count) by Deal Size Range
Middle-Market Grabs Over 50% of Capital
Percentage of Deal Volume (capital) by Deal Size Range
Midwest the Top Region for PE Investment Percentage of Deal Volume (count) by Region
B2B Holds Onto Highest Volume of Deals
Percentage of Deal Volume (count) by Industry
Capital Shifts Away from B2CPercentage of Deal Volume (capital) by Industry
Private Equity Private Equity ExitsExits
Exits Up 64% from 3Q 2009 Quarterly PE Exits by Corporate Acquisition, IPO and Secondary
Sale
Percentage of capital invested by industry
Median Exit Value Climbs in 2010 Median Exit Size ($M)
Percentage of capital invested by industry
PE Firms Holding onto Companies Longer
Average Time from Buyout to Exit
Percentage of capital invested by industry
Private Equity Private Equity FundraisingFundraising
PE Fund Closings on Pace with 2009Number of Funds Closed and Total Capital Raised by Year
* Through 3Q 2010
PE Fundraising Levels Off in 3Q 2010Number of Funds Closed and Total Capital Raised by Quarter
Growing Fund Size Trend Continues
Percentage of US PE Funds (Count) by Size
$1B - $5B Funds Dominate Capital Raised
Percentage of Capital Raised by Size – US Funds
Fund Returns Fund Returns OverviewOverview
J-Curve
PE Leads in Average IRR Since 2000Average Fund IRR by Vintage Year
Vintage Year
Source: PitchBook
Private Equity Outperforming in the Long Run
Horizon IRR – Private Equity, Venture Capital and Public Index
Source: PitchBook
Returns Bounce Back from 2009 LowsMedian 1-Year Rolling Horizon IRR by Fund Type
Source: PitchBookOne Year IRR as of Year Ending March 31st
Private Equity Private Equity Fund ReturnsFund Returns
Outsized Returns for Funds Big and Small
Private Equity Horizon IRR by Fund Size
Source: PitchBookAs of 3/31/2010
Total Value of PE Funds Rose by 31% Last Year
Weighted 1-Year Change in Total PE Portfolio Value
Source: PitchBook
Mature Private Equity Funds Well into the Positive
Average Private Equity Return Multiples by Vintage Year
Source: PitchBook*Through 1H 2010
50% of All PE Funds Have a 7.6% IRR or HigherIRR Quartiles by Fund Size for Mature Private Equity
Funds
Source: PitchBook
$485B of Private Equity Dry PowderCapital Overhang for Private Equity Funds Raised by US
Investors
Source: PitchBook
Venture Venture Capital Fund Capital Fund
ReturnsReturns
Average Venture Capital Fund 5-year Return Around 1%
Venture Capital Horizon IRR by Fund Size
Source: PitchBookAs of 3/31/2010
Total Value of VC Funds Rose by 14% Last Year
Weighted 1-Year Change in Total VC Portfolio Value
Source: PitchBook
Venture Capital Funds Still Waiting for Liquidity Average Venture Capital Return Multiples by Vintage
Year
Source: PitchBook
Over Half of All Venture Capital Funds have Positive IRR
IRR Quartiles by Fund Size for Mature Venture Capital Funds
Source: PitchBook
$82B of Venture Capital Dry PowderCapital Overhang for Venture Capital Funds Raised by
US Investors
Source: PitchBook
Fund of Funds Fund of Funds ReturnsReturns
Funds from $500M to $1B Lead 5-Year IRRFund of Funds Horizon IRR by Fund Size
Source: PitchBookAs of 3/31/2010
Mature Fund of Funds Posting Strong Multiples Average Fund of Funds Return Multiples by Vintage Year
Source: PitchBook
GlobalGlobal Fund ReturnsFund Returns
Mature Global PE Funds Average DPI of 1.2x
Average Global Private Equity Return Multiples by Vintage Year
Source: PitchBook
Mature Global VC Funds Average TVPI of 1.25x
Average Global Venture Capital Return Multiples by Vintage Year
Source: PitchBook
Contact PitchBook
We welcome and encourage you to request a FREE TRIAL of the PitchBook Platform.
To schedule a demonstration of the PitchBook Platform, please contact us by phone, email or through our website, www.pitchbook.com.
SalesEmail: [email protected] Phone: 877-267-5593
Or for additional slides and analysis
ResearchEmail: [email protected]: 206-623-1986
