IPEM Cannes 2024 – The Daily Spin – January, 25th
The shifting role of LPs was the overarching theme for the morning session of Day 2, at the 10th edition of IPEM in Cannes. After a full day of yoga,…
Buyout groups find themselves at a crossroads. Even though M&A deal volume is strong, deal value is falling. Purchase price multiples have fallen 20% from their 2021 peak. And as GPs consider where to put their record amount of dry powder to work, high interest rates mean that a greater frequency of smaller deals are being completed: causing a divergence between deal value and deal count. Year-to-date, the dollar value of M&A activity is down a third. Shopping around for cheaper transactions is likely to be a temporary fashion trend, as buyout partners come under increasing pressure from LPs to put more of their dry power to work. For now though, it seems bargains rather than trophy assets are the preferred option.
The shifting role of LPs was the overarching theme for the morning session of Day 2, at the 10th edition of IPEM in Cannes. After a full day of yoga,…
We hear you but we’re not quite ready. That seems to be the message coming from Norway’s government, who have decided to not yet allow the country’s Oil Fund –…
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