Private equity activity is on the rise, according to preliminary Q2 data released today by Thomson Reuters (publisher of peHUB).
Global PE-backed deal volume hit $43 billion last quarter, which is up 54% from Q1 and a whopping 148% from the second quarter of 2009. The numbers were even better for PE-backed deals targeting U.S. companies, where $25 billion marked the richest quarter in two years.
European deal volume dropped 26% from Q1, but year-to-date activity is up 110% from the first half of 2009. Asia-Pacific volume also increased substantially.
It’s important to note that these numbers include “announced” deals that have not yet closed, which is why the largest transaction of 2010 is the $3.9 billion buyout of hotel chain Extended Stay by Centerbridge Partners, Paulson & Co. and others.
Also worth noting that while these numbers were produced by my corporate overlords, I’ve already spotted a few problems. For example, Healthscope is listed on a list of top deals. Actually, it’s listed twice — once with KKR as sponsor, once with Blackstone. Maybe that’s because the two firms are still competing in an auction… Well, I guess that’s why the data is “preliminary.”
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