marketataglance_09_22_03 –

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MARKET AT A GLANCE:
(Buyouts; September 22, 2003)
  • RECENT TRANSACTIONS
  • DEAL FLOW
  • PVC INDEX

Data Criteria: All data include U.S. targets only. Deal Data include leveraged buyouts and other transactions involving financial buyers in which a majority interest or a remaining stake is involved. All Deal Flow Data exclude these transactions. Announced M&A Deals is restricted to transactions of $25 million or greater. Withdrawn IPOs and Registered IPOs exclude closed-end funds and bank conversions. Source: Thomson Financial Securities Data (973) 622-3100.

Table Criteria: The Warburg Pincus/Venture Economics Post-Venture Capital Index is a market-valued index that measures the performance of public stocks of companies that have received venture capital or buyout financing. The index, which at present comprises 1266 companies, seeks to track the universe of venture-backed stocks from the point of going public until publicly traded for 10 years, at which time they are removed from the index. The index, which is calculated daily and does not take into account dividends, began in January 1986 with an initialized value of 100. As of December 1, 2000, its value was $1.229 trillion.

The Post-Venture Capital Index (PVCI) defines “venture-backed” companies as public companies that have received financing from a U.S. venture capital firm or buyouts limited partnership prior to going public. Companies remain in the index for 10 years from the IPO date or until price data is no longer available. Companies are taken off the index if they are acquired, merged to form a new corporate entity, or are removed from a publicly traded exchange. The PVCI is a measure of the public market for companies that have received private equity financing.