PE Tech Report


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US PE dealmaking remains challenging, says Pitchbook report

Private equity firms invested USD163.4 billion across 959 PE deals in the US during Q3, bringing year-to-date totals to USD401.7 billion in deal value across 2,820 transactions, according to the latest Pitchbook US PE Breakdown report.

Despite the prolonged elevation in fundraising, deal volume through the first three quarters is down 11 per cent compared to the first three quarters of 2016.
Private equity exits continued to slow in Q3 with USD40.8 billion in value exited across 224 companies, a 20 per cent drop in deal volume from Q2. The decline has been largely driven by a pullback in exits via strategic acquisitions, the number of which has decreased 24 per cent through the firrst three quarters compared to the same period last year. 

US-based funds raised USD62.4 billion in commitments across just 58 vehicles in Q3 2017. The stockpile of capital is accumulating across fewer funds; the median fund size for all PE strategies increased to USD265.0 million through Q3 2017. Q3’s fundraising frenzy was led by Apollo Global Management closing on USD24.7 billion for its ninth flagship fund, making it the largest buyout fund ever raised.
While PE dealmaking has slowed in 2017, activity has been resilient in the software sector. PE firms completed 345 software deals totalilng USD39.5 billion through the close of Q3 2017. 

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