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Private equity funds sold $378 billion worth of assets in 2018, extending the industry’s recent robust performance. The showing brought total exit value since 2014 to $2 trillion, by far the strongest five-year run on record. Cash-rich corporations looking for growth continued to be ready buyers for portfolio companies, and sponsor-to-sponsor deals between private equity funds also paced the market, especially in Europe. The value of initial public offerings, however, fell 34% globally as market uncertainty and higher volatility curtailed activity.
Bain partner Hugh MacArthur is a director in the firm’s Boston office and head of Bain’s Global Private Equity practice.
Private Equity: Still Booming, but Is the Cycle Near Its End?
Deal count declines, but value jumps to a five-year record.
First published in April 2019