Eamon
Every quarter, the Private Equity Growth Capital Council releases its U.S. PE Index, and for the third quarter, the index fell 12 percentage points to 91.8 from the revised level in the second quarter.
Buyout and mezzanine shops based in the U.S. have secured about $140.86 billion in capital so far in 2012.
U.S. buyout funds have generated a cumulative pooled IRR rate of 10.87 percent from 1978 through June 30, according to data from Thomson Reuters, the publisher of Buyouts.
A dozen of the 15 mega-funds in the market have secured some capital commitments so far in 2012. The 12 have collected a combined $54 billion.
U.S.-based buyout and mezzanine shops continue to find success in fundraising efforts. So far this year, they have collectively raised $139.4 billion.
The capital secured by domestic buyout and mezzanine shops in their fundraising drives stands at about $136.5 billion.
With closed deal volume still soft, financial sponsors have so far paid less in investment banking fees than they did a year earlier. They paid $5.1 billion through the first nine months of 2012, down 37.6 percent from an estimated $8.2 billion a year earlier.
North American private equity firms, including LBO/growth equity, venture capital, mezzanine and other categories, devote a median of 60 percent of their GP fees and other revenues to payroll, according to a compensation survey conducted by Thomson Reuters in partnership with Holt Private Equity Consultants.
There have been 39 portfolio companies with U.S.-based financial sponsors that have tested the IPO market this year through Oct. 17.
U.S.-based buyout and mezzanine firms have collectively secured $134.1 billion so far this year.
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