Ashurst boosts London funds practice with partner hire miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
Private equity: It s yours for £3 funds-europe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from funds-europe.com Daily Mail and Mail on Sunday newspapers.
Buyout Firms Bet Smaller is Better With Covid Trimming Deals
Bloomberg 12/11/2020 Benjamin Robertson and Melissa Karsh
(Bloomberg) Private equity bosses have found a way to keep deals flowing during the economic crisis: going small.
With blockbuster buyout activity hit by the pandemic early in the year, the industry has turned to smaller acquisitions that are aimed at expanding their stable of companies. These purchases are another tool in the arsenal that private equity firms have to build their portfolio companies before selling for a profit.
Add-on transactions from firms including Cinven and HarbourVest Partners comprised 51% of global buyouts in the third quarter, a new high, according to data compiled by PitchBook. These transactions, where private equity-backed firms acquire businesses using their owner’s capital, are also on pace for a record year.