In the past, co-investing was a way for private equity firms to complete some of the largest deals in history without exceeding desired risk levels. As some of those mega-deals from the middle part of the decade have failed to produce anticipated returns, club deals have taken a beating. 2013 was one of the slowest years for club deals in history, PitchBook data show. Through Dec. 17 of this year, there have been only 260 completed syndicated deals worldwide. But thanks in part to 3G Capital and Berkshire Hathaway’s $23 billion purchase of Heinz, capital invested through club deals is up to its highest level since 2008 at $103 billion of disclosed capital.
To see the five most active PE co-investors in 2013 and learn more about recent co-investment trends, click here.