It was by all measures a very interesting year for all sectors of the private equity industry. Private equity firms were forced to change investment strategies, learn to invest without debt again and spend a lot more time with their portfolio companies. PE-backed companies grappled with over-leveraged balance sheets and focused on operations and improving the bottom line in preparation for 2010 and 2011 exit opportunities. Their counterpart, limited partners, did everything they could to keep liquid, including limiting new private equity commitments, they also wondered where their distributions were and started questioning their fund rights. Service providers tried to keep busy, mainly by helping GPs and LPs address everything in the previous three sentences.
If you're interested in a more thorough and data-driven annual wrap-up, stay tuned for the following soon-to-be-released PitchBook year end reports:
PitchBook Fund Performance and Fundraising Report - covers private equity and venture capital fund returns over the past two decades. Highlighting the changes seen in fund returns and how the different types and sizes of funds are performing. Included will also be a look at the current fundraising climate and what types and sizes of funds were successful in raising money, and how much of it, this year.
PitchBook Private Equity Breakdown - covers private equity deal flow, industry investment statistics, and change in deal sizes and type. For the first time, there will be new stats covering exit market activity and how it changed in 2009. Also included will be a more detailed look at fundraising for 2009 broken down by fund size and type. As always, there will be league tables showing most active investors, service providers and top fundraisers. Plus much more....