In This Issue:
- PE Funds Making
Major Changes to Raise Funds
- M&A: Running on
- Good News for
- People on the
Move: D. Bagley and M. Hodges
- E&Y Predicts a
"2012 Private Equity 'Restart'"
- An Astounding
Amount of PE Dry Powder Exists
M&A Fees Hit $16.2 Billion in 2011
Upcoming MMIBA & NACVA Events
MMIBA Board of Directors:
Dennis Roberts CPA, CVA, ABV, CMAP
Andrew Sherman, ESQ., CMAP
MBA, CPA, CVA
Richard Jackim, JD, MBA, CEPA
Andy Smith, CPA/ABV, ASA, CVA, CMA
Scott D. Miller,
CPA/ABV, CVA, CMAP
PE Funds Slash Fees to Raise New
SEI Report Shows Firms Are Opening Their Books and Cutting Fees
“Whatever it Takes to Raise Buyout Capital in this Environment”
Collectively, of the more than 400 institutional investors,
consultants, and fund managers surveyed in this study, about 59% of
the managers questioned confessed that they had "increased
transparency to retain/attract new capital since the 2008 market
decline." At the same time, nearly 37% stated that they had lowered
fees associated with their investment services, this according to
SEI's and Greenwich Associates' jointly released report.
the entire report here. No registration required.
Running on ENERGY
Oil and Gas Companies Fueling Recent US M&A Activity
Total M&A activity may be off to a slow start this year, but
there's plenty of energy in the market for certain deals - the
kind of energy that heats homes and powers cars. The activity is a
result of energy companies' increasing interest in unconventional
resources, like shale gas and oil sands, according to a survey
released this week by BDO USA. One-quarter of energy-related CFOs
said new resource plays - like shale - were the most important
factor driving industry growth, up from 14% last year. This
favorable shift will boost M&A activity in the industry this year.
Read the entire article here.
PE Firms Changing
Focus to Midsize Deals
Good News for Middle-Market Intermediaries
A Special Report from the Wall Street Journal
Running a private equity business is a lot less glamorous, much
harder, and less lucrative than it once was. Large deals are mostly
history, ROI has plummeted, buyout financing is a fraction of what it
once was, exit timelines have doubled, and LPs now have the upper
hand. But PE managers never quit: They evolve. And are now piling into
the middle- and lower-middle market in a historically aggressive way.
You can read the entire article here. No registration required.
on the Move: |
MorrisAnderson Promotes Dave Bagley to Principal
Baird Capital Partners Hires Mark Hodges as an Operating Partner
Before you can sell a distressed company, it needs turned around;
a specialty of MorrisAnderson, who just promoted Dave
Bagley. Bagley will coordinate MA's national business
development strategy. Bagley has more than 20 years of experience
assisting financially distressed companies and often assumes the
interim role of CEO and CFO. Bagley's extensive portfolio includes
several awards and distinctions from the Turnaround Management
Read more about partnering on dealflow with Dave Bagley here.
Hodges, who will be based in Houston, has been hired by Baird
Capital Partners to source, evaluate and drive value in the
Business Process Outsourcing and Professional Services sectors.
Hodges joins BCP with more than 20 years of experience in the BPO
industry. He is the founder of Hodges Advisory, a firm that
advises the founders of services companies on driving high growth
and then establishing liquidity.
Read more about Hodges and the dealflow he would like see here.
"M&A Will Pick Up After a Slow 4th
E&Y's Transaction-Advisory Services Group Predicts a "Private Equity
With fourth-quarter U.S. buyout volume down 44% compared with the full
quarterly level of 2010, the dealmaking community is obviously hoping
for a better year in 2012, and Ernst & Young’s detailed new report
provides that hope.
You can read the report here. No registration required.
An Astounding New Report:
50% of PE Funding, Since 1969, Was Raised in Just Four Years
And Much of it is Still Sitting Waiting to Be Invested
Of the $3.9 trillion committed to private equity since 1969, an
astounding amount: nearly half, or $1.8 trillion, was raised in the
years between 2005 and 2008, with much of it unused, sitting as dry
powder, and waiting for deployment…
Read the Triago report here. No registration required.
Thomson Reuters Has Released its
2011 Year-End Middle Market M&A Financial Review
Just a couple of the highlights:
- Worldwide announced Mid-Market M&A
deals valued up to $500 million totaled $740.7 billion in 2011 - a
3.9% increase over 2010.
- Estimated global fees generated
from completed Mid-Market M&A activity reached $16.2 billion for the
- The Americas region led the
market, with $279.1 billion of announced deal activity.
- Energy & Power and Materials each
represented 12.3% of the total market.
- Houlihan Lokey topped the US
Mid-Market rankings with 84 deals.
Click here for the entire and extensive Mid-Market Report.
Important Upcoming MMIBA and CTI Events
Upcoming Live Training
and Acquisition Workshops
Chicago, IL - March 19-24, 2012
Washington, DC - August 20-25, 2012
San Diego, CA - October 1-6, 2012
Ft. Lauderdale, FL - November 26-December 1, 2012
Certified Exit Planning Advisor Workshops
Chicago, IL - May 7-11, 2012
Chicago, IL - November 5-9, 2012
Introduction to Mergers & Acquisitions, Monday, February 27, 2012
Developing an M&A Practice - Winning the Engagement "The First Sale,"
Tuesday, February 28, 2012
Current Trends and Best Practices in Due Diligence,
Key Legal and Strategic Issues for Middle-Market Buyers and Sellers,
Thursday, March 1, 2012
Management Buyouts, Friday, March 2, 2012
7900 Westpark Drive, Suite A320
McLean, VA 22102
Phone: (800) 677-2009 Fax: (801) 486-7500