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A marked slowdown in private equity dealmaking so far this year is expected to impact the second half. A buying opportunity may await, but sellers must adjust their valuations expectations first…
Global dealmaking by private equity funds has plummeted in 2022 as banks have pulled back financing in a risk-off environment.
Across the M&A market globally, activity fell by 23% in value to USD 2.2 trillion in H1 2022, compared with the same period last year, according to Dealogic. By volume, the drop was 20% to 15,764 deals over the same period.
Sponsor-led activity, which typically involves private equity firms,
Average returns across private equity have come off their 2021 peak. Fund managers say portfolios remain resilient and, in a recession, the asset class can still outperform…
Private equity benchmark returns have begun a descent from their post-pandemic high.
Average global returns for Q3 2021 fell to 6.8% from almost 15% in Q1, the strategy’s lowest quarterly IRR since the pandemic rocked public markets in Q1 2020, according to Pitchbook, which shows a further decline to 3.42% in Q4 based on preliminary data.
“A tighter policy environment is putting downward pressure on risk assets and causing returns to normalise after
Foresight Group (Foresight), a leading listed private equity and infrastructure investment manager, has announced the opening of its new office in Dublin. This is Foresight’s first office in Ireland and will be located at Carmichael House, 60 Lower Baggot Street.
It is the first of three offices planned to be opened this year, the others being in the UK in Leeds and Newcastle.
The team based in the Dublin office will mainly source, execute and manage investments for the AIB Foresight SME Impact Fund (the fund) as well as support Foresight’s other activities in Ireland. With a cornerstone investment
Duke Street, a European midmarket private equity group, has agreed to sell Medi-Globe Technologies (Medi-Globe) to DCC Healthcare, a wholly owned subsidiary of the FTSE 100 listed international sales, marketing and support services group DCC plc, for an enterprise value of approximately €245 million (£213 million).
The transaction is subject to completion authority clearance in Germany and France, with completion expected in Q4 2022.
Medi-Globe is an international manufacturer and distributer of medical devices which sells into over 120 countries. The company focusses on single-use accessories for use in critical surgical and diagnostic procedures in the fields of gastroenterology
IQ-EQ, an Astorg portfolio company, has acquired JGM Fund Services (JGM) a US provider of fund administration and tax services for alternative investors specialising in real estate and private equity asset classes.
This acquisition further reinforces IQ-EQ’s growing position as a leading player in the US market, the largest and fastest growing alternative fund services market globally. A shared entrepreneurial approach to business coupled with a strong focus on providing high levels of client service and an emphasis on training and investment of its employees positions the newly combined entity as the provider of choice for alternative asset managers.
As
Latana, an AI-powered brand tracking and consumer insights platform, has raised €36 million a Series B equity and debt financing round led by Oxx, a specialist growth-stage SaaS investor.
Balderton Capital and Kreos also participated in the round with the funding set to be used to scale Latana’s SaaS offering, which provides companies with consumer data and key insights to help track brand and campaign performance.
Latana also uses its technology to understand the underlying forces behind the opinions of people worldwide with special initiatives including the Democracy Perception Index, which is the largest annual study on the global perception
SteelEye, a compliance technology and data analytics firm, has raised $21 million in a Series B funding round led by Ten Coves Capital to accelerate the firm’s global expansion.
Existing investors Fidelity International Strategic Ventures, Illuminate Financial, Beacon Equity Partners, and a large family office also participated in the round which takes takes SteelEye’s total capital raised to $43 million.
SteelEye counts some of the largest financial services firms in the world as clients including Fidelity International and Schroders. The funding round comes on the back of record growth in 2021 when SteelEye’s revenues grew by 88 per cent
LaSalle Investment Management (LaSalle) has raised over $2.2 billion of equity for LaSalle Asia Opportunity VI (LAO VI), including sidecars and co-investment programmes, exceeding its initial target of $1.5 billion.
The committed capital has been secured from global institutional investors and will provide buying power for over US$7 billion worth of assets.
LAO VI is the sixth in LaSalle’s closed-ended, opportunistic fund series focusing on Asia Pacific. In keeping with its predecessor funds, LAO VI seeks to take advantage of mispriced assets with opportunities to add value through repositioning and redevelopment in Asia Pacific’s key markets including Australia, China,
Financial Services Capital (FSC), a private equity investor dedicated to the European financial services sector, has appointed Kirstyn Lowry-Corry, a finance specialist with more than 10 years’ experience, as financial director.
Lowry-Corry, who will work with Chief Operating Officer Chris Doukaki, joins from ScaleUp Capital, where she was responsible for the finance function. Her appointment continues the development of FSC’s institutional-grade team, led by Managing Partners Matthew D Hansen and Miroslav Boublik. The team currently comprises eight Investment Professionals and four Platform Professionals, supported by four Operating Partners and five Senior Advisors.
Prior to ScaleUp Capital, Lowry-Corry worked for Montagu
Francisco Partners (FP) is to take a controlling interest in Kobalt, an independent music publishing business that employs a technology platform to collect royalty micro-payments for over 700,000 songs.
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