The State of Private Equity

Private Equity had its best first-half in nearly four years and transaction activities are projected to continue to be robust throughout the rest of 2017, according to The Deal, a business unit of TheStreet, Inc. (NASDAQ: TST).

In the first half of the year, global financial sponsor entry M&A accounted for 8.6% of total M&A, the highest first-half percentage since 2013, when it represented 11.7%, according to Dealogic. Last year, the figure was 7.1%.

“Amid a continued high-valuation environment, private equity firms are finding attractive investment opportunities, with technology and healthcare among the sectors that have seen plenty of deal activity in the first half of the year,” said Armie Lee, reporter at The Deal. “Deal advisers see PE transaction activity remaining strong in the months ahead.”

The Deal’s exclusive ranking covers the top investment banks, law firms, and PR advisers engaged in private equity transactions globally from January 1 to June 30, 2017. Collected data captures advisers to target/seller and acquirer/bidder companies involving transactions.

Some highlights from the report:

• Among investment banks, Morgan Stanley topped the list with 57 PE deals, 25 of which represented the sell-side. Houlihan Lokey Inc. ranked second with 50 deals, 42 of which involved representing the sell-side. Goldman, Sachs & Co. finished third with 46 deals, 31 of which it represented the sell-side.
• Among law firms, Kirkland & Ellis LLP was the top counsel to companies, with 152 deals, 104 of which it represented the buy-side. Latham & Watkins LLP was second with 64 deals. Weil, Gotshal & Manges LLP ranked third with 61 deals.
• Among PR firms involved in private equity transactions, Abernathy MacGregor Group Inc. was first with 62 transactions, in 55 of which it represented the buy-side. Sard Verbinnen & Co. LLC came in second, with 53 transactions. Joele Frank, Wilkinson Brimmer Katcher ranked third with 44 transactions.

The full article is available online. For more information about The Deal’s Private Equity coverage, go to www.thedeal.com.

About The Deal’s Private Equity League Tables
The Private Equity League Tables include global deals involving PE firms, either on the buy side or sell side, regardless of whether financial terms were disclosed. Credit is given to all advisory firms involved on the deal, not only firms that advised on the PE side or a PE client. Deal types range from leveraged buyouts, add-on acquisitions, management-backed buyouts and any deal where a PE firm had a stake in the target, buyer or seller. Transactions where the investment implied at least a 30% stake in the target we’re also included, as were minority investments where PE executives joined target boards.