News & Knowledge

While Berkshire Hathaway has invested permanent capital for decades, several large PE firms, including CVC, Carlyle and Blackstone, have been launching buyout funds with longer lives. Blackstone raised $5BN for a fund with expected holding periods roughly double those of the traditional buyout fund. Two first-time funds, Core Equity and Cove Hill, also raised more than $1BN… Continue Reading

(Charlotte, NC — June 11th, 2019) U.S. Private Equity Exit Activity Slows in 2019 Source: Pitchbook, *As of March 31, 2019 20 Questions for More Successful M&A (Darden School of Business) For many senior executives, acquisitions are viewed as a quick way to achieve growth. However, 65-85% of mergers and acquisitions fail to create shareholder… Continue Reading

(Charlotte, NC — April 23rd, 2019) Median Size of U.S. Secondary Buyouts (SBOs) Has Nearly Doubled Since 2015 Source: Pitchbook What We’re Reading Below are links to recent articles we found interesting (no partnerships expressed or implied). Big Banks Reach for Small Deals as Merger Boom Slows (WSJ) Investment bankers across Wall Street are tripping… Continue Reading

(Charlotte, NC – March 6, 2019) Pitchbook recently published its 2018 Annual U.S PE Breakdown Report. We found the following market trends particularly interesting: Median U.S EV / EBITDA Multiples During much of the year, PE firms enjoyed continued easy access to affordable debt financing. However, recent months have seen a decline in the outflow… Continue Reading