: 2011

PitchBook’s 2011 Annual PE Presentation Deck

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specialty-focused information resource, PitchBook's core strength is its ability to
meticulously collect, organize and analyze hard to find private equity and venture
capital deal and fund data.

PitchBook’s mission is to provide its clients with the highest quality private equity
information, with an acute focus on deals and companies. PitchBook aims not only
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decisions.
Three Aspects of Private Equity
Fundraising, Investment & Exits Trends
Private Equity
Investment
Capital Invested in 2010 2.2x more than
2009
Number of Deals Closed and Total Capital Invested by
Year

Source: PitchBook
4Q 2010 Capital Invested 6.25x more than
2Q 2009
Number of Deals Closed and Total Capital Invested by
Quarter
Middle-Market Deal Activity Increases
Percentage of Deal Volume (count) by Deal Size Range
 70% of Capital Invested in Deals Over
$500M
Percentage of Deal Volume (capital) by Deal Size Range
 Midwest is the Top Region for PE
Investment Percentage of Deal Volume (count) by
Region
B2B Holds Onto Highest Volume of
Deals
Percentage of Deal Volume (count) by Industry
B2C Capital Invested Increased 3.8x from
2009
Percentage of Deal Volume (capital) by Industry
Add-ons % Climbs for the 6th Straight
Year
Add-on Deals as Percentage of Buyout Deals
Deals Under $1B Require More Equity
Percentage of Equity Used in Buyouts
Private Equity
Exits
4Q 10 Exits Up 3.8x from low in 1Q
09
Quarterly PE Exits by Corporate Acquisition, IPO and
Secondary Sale

Percentage of capital invested by industry

2010 3rd Best Year for Exits on Record
Annual PE Exits by Corporate Acquisition, IPO and
Secondary Sale

Percentage of capital invested by industry

Exits Shift Back Toward Secondary and
IPO
Percentage of PE Exits by Type

Percentage of capital invested by industry

Median Exit Value Jumps in 2010
Median Exit Size ($M)

Percentage of capital invested by industry

PE Firms Holding onto Companies Longer
Average Time from Buyout to Exit

Percentage of capital invested by industry

 Portfolio Company Overhang Keeps Building
with 4,000 PE Investments Now 5-Years or Older
Number of Private Equity-Owned Companies

Percentage of capital invested by industry

Private Equity
Fundraising
 PE Funds Struggle to Close in 2010
Number of Funds Closed and Total Capital Raised by Year
2H 2010, Worse 6 Months Since 2003
Number of Funds Closed and Total Capital Raised by
Quarter
 Time Spent Fundraising 2010 Vintage
Almost Doubles from 2007 Vintage
Average Time Spent Fundraising by Close Year
Middle Market Funds Raise Majority of
Capital
Percentage of US PE Funds (Count) by Size
$1B - $5B Funds Dominate Capital
Raised
Percentage of Capital Raised by Size – US Funds
PE Investors Siting on $490B of Dry
Powder Capital Overhang of US PE Investors by
Vintage Year
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