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US PE Breakdown

2017 Annual

US PE Breakdown

January 15, 2018

US PE Breakdown
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PitchBook's 2017 Annual US PE Breakdown recaps the most important trends and themes shaping US private equity throughout 2017, providing a forecast of key factors for dealmakers in 2018. Sponsored by Merrill Corporation and co-sponsored by Murray Devine, the Breakdown also includes key insights from dealmakers, such as thought leadership on valuation considerations for general partners seeking outside capital.

Key Highlights:

  • PE firms saw an 11% year-over-year (YoY) decrease in exit volume, with both exit value and volume falling below the 5-year average.
  • PE firms closed on $232.7 billion across 247 funds during 2017. Capital continues to accrue to fewer yet larger funds, evidenced by the 8% YoY increase in committed capital despite a 15% decrease in volume
  • GPs are capitalizing on the current fundraising market; a full 75% of follow-on funds raised in 2017 were larger than their predecessors, as the median time between funds fell to 2.8 years.