Welcome to the sixth issue of EMEA Private Equity Market Snapshot, a quarterly publication focusing on the private equity (PE) market in Europe, the Middle East, and Africa (EMEA).
In this edition, we welcome a contribution by Ruth McGavin from Leveraged Commentary & Data (LCD), a division of S&P Capital IQ, which explores trends in debt financing for private equity-owned companies. LCD’s feature piece considers the current state of the European leveraged finance market, and how PE firms are taking advantage of these conditions.
This report also considers the recent headlines surrounding consumer confidence levels. On 30th June 2015, the FT reported ‘UK consumer confidence at highest in 15 years’, yet conversely S&P Capital IQ data suggests that the EMEA PE Market deal activity is lagging compared to the levels achieved in similar pre-crisis consumer confidence highs.
And finally, this edition examines the trends behind private equity investment in the Middle East, highlighting the Sovereign Wealth Funds which appear to be joining efforts with global and local PE firms to buy foreign assets.
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As always, in the appendix of this issue is a data pack which provides a topdown view of the market compared to its position at the same point in time last year. Included in the data pack are charts showing transaction numbers and values among EMEA-based PE and venture capital (VC) targets, transaction values and deal counts undertaken by EMEA-based PE firms and VCs, and sector-level multiples for private equity and the region’s broader merger and acquisition market. At the heart of our analysis is the S&P Capital IQ platform which incorporates a database capturing more than 3.1mn historical transactions, including deal values and transaction multiples, target company fundamental data, sector level financials, and comprehensive private equity manager and fund information.