Financial Services Exits Picking Up
March 7, 2013
Private equity firms have been successfully finding exits from their Financial Services investments. Since the beginning of 2010, PE investors have sold or taken public 72 Financial Services companies headquartered in the U.S. or Canada, according to the PitchBook Platform. 29 of those transactions took place in 2012 alone, up from 2011's count of 19 and 2010’s 23. By exit type, corporate acquisitions (sales to strategic buyers) have been the most popular exit route for PE firms, garnering 51% of the industry's exit activity during the time frame. Another 29% of the companies were sold to other PE firms (secondary buyouts), and the remaining 20% were taken public through IPOs.
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