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Pitchbook European PE Breakdown, in partnership with Merrill Corporation

Download your copy of the Q1 Pitchbook European Breakdown now to discover deal flow, exits and fundraising across Europe. With the general elections a few short weeks away, discover the state of the PE industry in this month’s Pitchbook Spotlight - PE activity in the UK.

Pitchbook EMEA Q1 2017 breakdown

Despite an array of political and economic unknowns, the PE landscape in Europe remains surprisingly robust. The value of new PE deals is on track with last year, while EV/EBITDA multiples are showing signs of receding. Meanwhile, deal flow in the UK has not taken the hit we expected, and PE fundraising continues its impressive streak.

 Key takeaways include: 

  • Why European private equity deal flow got off to a strong start in 1Q 2 017 $82.5 billion in deal value was completed across the continent, slightly below the $89.8 billion in the same quarter last year.
  • How UK deal flow has largely mirrored that of the rest of the continent, even picking up in the first quarter. In fact, the £20.6 billion in UK deal value this quarter and £23.1 billion in 4Q 2016 are each greater than the quarterly investment levels we saw leading up to and immediately after the Brexit vote. 
  • Why the volume of European exits continued to slide but a high median corporate acquisition price of €155.4 million held up the amount of steady capital. 
  • Why the fundraising frenzy continues. PE firms raised $18 .7 billion across 30 vehicles in 1Q 2017. 9 1% of funds hit t heir stated target, the highest in PitchBook datasets. Learn more about who was the largest fund to close this quarter with a $4.6 billion mezzanine fund.
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