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PitchBook Analyst Note: Measuring SBOs' Effect on Fund Performance

October 15, 2018

This analyst note returns to an ongoing dialogue about an exit strategy often disparaged in the world of private equity: secondary buyouts (SBOs). Previously our analysts argued that SBOs are a crucial and increasingly prevalent deal sourcing approach, particularly with companies and business models that thrive under PE ownership. The proliferation of SBOs warrant a closer look at how they impact fund performance, which this note does by comparing a select group of SBO-oriented funds to the more encompassing PitchBook Benchmarks.

Blackstone cashes in on Versace's $2.1B sale to Michael Kors

September 25, 2018

Michael Kors' agreement to buy Versace for some $2.1 billion is good news for Blackstone.

Siris to exit Intralinks for $1.5B

September 7, 2018

Financial software developer SS&C Technologies has agreed to acquire Intralinks from Siris Capital for $1.5 billion, representing a 10.9x multiple on Intralinks' expected 2018 EBITDA. The deal is...

Snap decision: Carlyle exits Getty for $250M

September 5, 2018

The Carlyle Group has agreed to sell its 51% stake in photo database Getty Images back to the Getty family for some $250 million, according to the Financial Times. The deal, which rolls over a...

CVC lining up major exits from Fund VI

August 27, 2018

In 2013, CVC Capital Partners raised €10.9 billion (about $12.7 billion at today's conversion rate) for its sixth flagship vehicle. Now, five years later, the firm is in the process of arranging a...

Genstar, TPG line up $3.5B worth of software exits

August 1, 2018

Genstar Capital has agreed to sell Accruent, an Austin-based provider of resource management software, to industrial conglomerate Fortive for $2 billion. The deal marks a quick turnaround for...

Aurelius pounces on Blackstone's Ideal Shopping

July 25, 2018

German investor Aurelius Equity Opportunities has acquired home-shopping retailer Ideal Shopping Direct from Blackstone. The company, which operates the 'Ideal World' and 'Create & Craft'...

CVC Capital Partners joins Asia fundraising frenzy, inks $2.6B exit

July 25, 2018

CVC Capital Partners is restocking its coffers in two different ways: with a new $4 billion Asia fund and a $2.6 billion exit in Europe.

HIG exits Kondor after four years

July 19, 2018

HIG Capital has sold Kondor, a distributor of mobile and audio accessory products, to DCC Technology, a provider of tech products and services to customers in the consumer, B2B and enterprise...

Car seller Cango could raise $138M in IPO

July 18, 2018

Cango, the operator of an online car marketplace that's been backed by Warburg Pincus for about a year, plans to sell 12.5 million shares for between $10 and $12 apiece on the NYSE under the symbol...

PE-backed The Works readies for public listing

July 16, 2018

The Works, a seller of discount books, toys and other goods in the UK, has announced plans to sell nearly 40.8 million shares for 160 pence each in an upcoming IPO in London, which would raise...

JF Lehman to exit NRC

June 27, 2018

JF Lehman & Company has agreed to sell its stake in NRC, a provider of environmental, compliance and waste management services, to Hennessy Capital, an alternative investment manager focusing on...

PE-backed BJ's Wholesale sets IPO terms

June 19, 2018

Warehouse retail chain BJ's Wholesale Club has announced in an SEC filing that it will offer 37.5 million shares at $15 to $17 per share in an IPO that could value the business at up to $2.15...

PE-backed SurveyMonkey announces confidential IPO

June 19, 2018

The parent company of SurveyMonkey, a provider of software survey programs, has confidentially filed to go public. Established in 1999, the company's last PE financing round came in 2014, when T....

Warburg Pincus exits FacilitySource for $290M

June 13, 2018

Warburg Pincus has sold FacilitySource, a provider of procurement and facilities management software and services, to commercial real estate company CBRE for $290 million in cash. Founded in 2005,...

Search results

PitchBook Analyst Note: Measuring SBOs' Effect on Fund Performance

Blackstone cashes in on Versace's $2.1B sale to Michael Kors

Siris to exit Intralinks for $1.5B

Snap decision: Carlyle exits Getty for $250M

CVC lining up major exits from Fund VI

Genstar, TPG line up $3.5B worth of software exits

Aurelius pounces on Blackstone's Ideal Shopping

CVC Capital Partners joins Asia fundraising frenzy, inks $2.6B exit

HIG exits Kondor after four years

Car seller Cango could raise $138M in IPO

PE-backed The Works readies for public listing

JF Lehman to exit NRC

PE-backed BJ's Wholesale sets IPO terms

PE-backed SurveyMonkey announces confidential IPO

Warburg Pincus exits FacilitySource for $290M

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