1 September, 2011

EVCA Quarterly Activity Indicator: Q4 2007-Q3 2011

Produced for EVCA by PEREP_AnalyticsTM

1|

EVCA Quarterly Activity Indicator: Q4 2007-Q2 2011 | Creating lasting value

Executive summary
Fundraising stabilised in the third quarter of 2011, but remained largely above the 2009-2010 quarterly levels. Investment value went up by 13% from the previous quarter. Buyout investment (including replacement capital and rescue/turnaround) increased by 22% from Q1 2011, to 9.7bn. Venture capital investment decreased by 11%, to 661m. Divestment at cost (excluding write-offs) went up by 53% from Q2 2011. Trade sales more than doubled from the Q2 2011 level. Sales to other PE firms went up by 72%.

2|

EVCA Quarterly Activity Indicator: Q4 2007-Q2 2011 | Creating lasting value

Trends in European private equity activity flows

Index Q1 2007=100
120 Funds raised Investments 100 Divestments at cost

80

60

40

20

0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

2007
Source: EVCA/PEREP_Analytics

2008

2009

2010

2011

3|

EVCA Quarterly Activity Indicator: Q4 2007-Q2 2011 | Creating lasting value

Evolution of European private equity investment activity by amount

250

Index Q1 2007=100

Early-stage Later-stage Growth Buyout, rescue/turnaround and replacement capital Total investment

200

150

100

50

0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

2007
Source: EVCA/PEREP_Analytics

2008

2009

2010

2011

4|

EVCA Quarterly Activity Indicator: Q4 2007-Q2 2011 | Creating lasting value

Evolution of European private equity investment activity by number of companies

450 400 350
Growth

Index Q1 2007=100

Early-stage Later-stage

300
Buyout, rescue/turnaround and replacement capital

250 200 150 100 50 0 Q1

Total investment

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

2007

2008

2009

2010

2011

Source: EVCA/PEREP_Analytics

5|

EVCA Quarterly Activity Indicator: Q4 2007-Q2 2011 | Creating lasting value

European private equity divestments exit route trends (amount at cost divested)
180 160 140 120 100 80 60 40 20 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

Index Q1 2007 = 100

Trade sale Sale to PE firms Write-offs Other Total divestment

2007
Source: EVCA/PEREP_Analytics

2008

2009

2010

2011

6|

EVCA Quarterly Activity Indicator: Q4 2007-Q2 2011 | Creating lasting value

EVCA European Private Equity and Venture Capital Association Bastion Tower Place du Champs de Mars 5 B 1050 Brussels Belgium www.evca.eu Tel: +32 2 715 00 20