Firms & Funds

Top private equity surprises of 2013

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  Top 10 PE Surprises of 2013
   
1 Major rise in the U.S. equities market (S&P 500 was up 25% YTD at press time)
2 Even slow-growth companies commanding purchase multiples of 10x EBITDA 
3 European economy rebounding more strongly, quickly than expected
4 Credit markets returning to epic levels of frothiness
5 Deal flow, M&A volumes remaining comparatively tepid
6 Success of many spin-out teams on fundraising trail
7 The number of brand-name firms, like CHS Capital, calling it quits
8 Speed of JOBS Act regulations (lifting of ad ban); slowness of Volcker Act regulations
9 Sluggishness of economic recovery, especially consumer spending
10 Strength in the IPO market
   
  Source: Ideas came from a variety of sources, but special thanks to Mark Burgett, managing director, Wind Point Partners; Jack Glover, partner, Incline Equity Partners; Gordon Hargraves, partner, Private Advisors;Erik Hirsch, CIO of Hamilton Lane; Jay Jester, managing director, Audax Group; Terry Mullen, partner, Arsenal Capital Partners; Kevin O’Keefe, placement agent, Bank Cap Partners.