Private Equity Exit Activity in Q2 2011

by Kouji Sonobe

  • 27 May 2011
  • PE

Preqin’s Deals Analyst data shows that the number and value of PE-backed exits has reached record levels, with 201 exits with an aggregate value of $85bn being announced in Q2 2011 to date. In comparison to second quarter last year, the aggregate value of exits has already seen over a 50% increase. The current figure also edges out the previous record level of exits of $81.3bn reached during the whole of Q4 2010.

North American exits currently stand at $23.7bn for the quarter to date, in-line with the previous figures recorded for Q4 2010 and Q1 2011. European exits have reached record levels: 82 exits with an aggregate value of $57.9bn have been announced so far, doubling the previous record level set back in the fourth quarter of 2006. $3.4bn worth of PE-backed exits in Asia and Rest of World have been announced so far this quarter, indicating that they are likely to match the previous quarter’s figure of $5.2bn.

The largest PE-backed exit announced in Q2 2011 to date is the acquisition of Nycomed by Takeda Pharmaceutical Company for €9.6bn. The sellers include Nordic Capital, DLJ Merchant Banking Partners (Credit Suisse) and Avista Capital Partners. Other notable PE-backed exits include the sale of Skype Global S.à.r.l. by the investor consortium by Silver Lake, CPP Investment Board, Andreessen Horowitz and Index Ventures to Microsoft Corporation for $8.5bn in cash, and the £6.8bn IPO of First Reserve-backed Glencore.

For more information on Q2 2011 exit activity, please see our May 2011 Private Equity Exits Press Release.

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