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  • EY - Forging ahead - 2014 European exits study - EY - Global
    EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Private Equity Forging ahead A study of 2014 European exits Forging ahead How do private equity investors create value Share Our series of studies of European private equity backed PE backed businesses conducted over the last 10 years has demonstrated PE s capacity for value creation in absolute terms and in performance relative to public company benchmarks About this study The 2014 study provides insights into the performance and methods of PE based on analysis of the largest European businesses that PE has owned and exited over the past 10 years Our database now comprises 694 exits including 86 in 2014 For more information on our methodology see the complete study Our findings have shown that the PE business model works across Europe by geography and industry sector and from midmarket to large investments through careful selection of investments alignment of incentives and a sharp focus on key value drivers 2014 marked a year of significant positive change for PE in Europe It was a record year for exits by entry enterprise value EV as stock markets across Europe welcomed IPOs of PE backed businesses and corporate buyers particularly from North America found attractive opportunities in PE portfolios New PE investments in European businesses increased to the highest level since the 2008 downturn with many mid market European PE firms returning to deal making Key findings Best year ever for exits Value of businesses sold was a record high in 2014 well above historical peak of 2006 29 IPOs a record number with activity across European stock markets strong performance post IPO Relative to the size of portfolio the scale of activity in 2014 was the second best year with 16 of portfolio value realized Pick up in new investments 2014 also marked a pick up in new investments with a 46 increase in number vs 2013 Acquisitions of businesses from corporate sellers almost doubled in 2014 vs 2013 to a post downturn high European PE firms led 67 of new investments US headquartered PE firms 29 and ROW 4 vs 59 36 and 5 respectively in 2013 More dry powder more competition Dry powder grew in 2014 to a post downturn record Total of 79 PE firms led new investments in 2014 up from 53 in 2013 More funds raised than deployed and an increasing number of active PE firms are leading to greater competition for new investments Can PE

    Original URL path: http://www.ey.com/GL/en/Industries/Private-Equity/EY-forging-ahead-2014-european-exits-study (2016-02-10)
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  • EY - Private Equity Public Exits Q3 2015 - EY - Global
    and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Private Equity Private Equity Public Exits Q3 2015 Private Equity Public Exits Q3 2015 Share Private Equity Public Exits Q3 2015 null Ribbon 20 20Facebook blank link Middle Content title Facebook Private Equity Public Exits Q3 2015 source ey com null Ribbon 20 20LinkedIn blank link Middle Content title Linkedin Private Equity Public Exits Q3 2015 null Ribbon 20 20StumbleUpon blank link Middle Content title Stumbleupon Private Equity Public Exits Q3 2015 via EYNews null Ribbon 20 20Twitter blank link Middle Content title Twitter Rough winds have shaken global equity markets in recent months as concerns stemming from slowing growth in China led to increased volatility and risk aversion across the globe The markets have responded with a marked decline in the number and combined value of new IPOs As a result private equity PE sponsors have adopted a wait and see approach to exits However increased M A activity is reducing the need to sell via the public route and exits via M A remain strong PE sponsors will be watching closely for signs that confidence has stabilized and the window has reopened Jeff Bunder Global Private Equity Leader EY Third quarter sees decline in PE IPO activity The third quarter saw a marked decline in the number of new PE backed deals that came to market Thus far in 2015 PE firms have raised US 38 5b in total proceeds a 60 drop from last year the 120 PE backed companies to go public represent a decline of 26 from the same period last year The regional perspective So far 2015 has seen declines across all regions In the Americas the decline in activity has been the most pronounced proceeds have declined 80 versus the same period a year ago The renewed moratorium on mainland IPOs in China saw the value decline 50 from the same period a year ago in the Asia Pacific region EMEA remains a pocket of relative strength even though IPO activity was down 30 it was still the second most active year for IPOs on record There were a handful of withdrawals but most PE sponsors are pursuing a wait and see approach While an overall reduction in the number of portfolio companies for sale is a likely reason behind some

    Original URL path: http://www.ey.com/GL/en/Industries/Private-Equity/EY-private-equity-public-exits-q3-2015 (2016-02-10)
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  • EY - Private equity briefing: Southeast Asia – September 2015 - EY - Singapore
    and Controversy Transaction Tax Transfer Pricing and Operating Model Effectiveness VAT GST and Other Sales Taxes Strategic Growth Markets Transactions About Transaction Advisory Services Lead Advisory Restructuring Divestiture Advisory Services Operational Transaction Services Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services China Overseas Investment Network Climate Change and Sustainability Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Experienced Advisory Assurance Tax Transactions Industries Support Services The EY difference Your development Life at EY Joining EY Alumni Home Industries Private Equity Private equity briefing Southeast Asia September 2015 Private equity briefing Southeast Asia September 2015 A roundup of private equity deals and capital activities in the quarter as well as trends that are shaping investment decisions today Share The number of private equity PE deals executed across Southeast Asia peaked in 2Q15 the highest since the global financial crisis This reflects the continued increase in appetite that PE is demonstrating across the region A total of 42 PE transactions were completed in the quarter This is an increase of almost 50 compared to the same period in 2014 when 29 deals were completed The level of equity was also up with a total of US 740m invested compared to US 475m in 2Q14 The increased activity is reflective of the overall M A market currently with the number of deals and deal value displaying similar trends Technology continues to be at the forefront of all M A activities with deal values in the sector now beginning to increase Financial services is another active sector with the majority of transactions taking place in investment companies and banking sub sector indicating that Southeast Asian markets remain attractive to the growth strategies of most

    Original URL path: http://www.ey.com/SG/en/Industries/Private-Equity/EY-private-equity-briefing-southeast-asia-september-2015 (2016-02-10)
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  • EY - Private equity roundup for India 2015 - EY - Global
    and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Private Equity Private equity roundup for India 2015 Private equity roundup for India 2015 Share Though the aggregate deal value declined by 29 in 1Q15 compared to the previous quarter the number of deals increased by 45 Deal volumes were driven by early stage investments Growth deals increased by almost 50 compared to the previous quarter possibly reflecting improving investor and corporate confidence The Government presented its first full Union Budget with some positives for the PE VC industry but it could have done more Key economic indicators India adopted a new methodology for calculating the GDP growth rate resulting in larger growth rates for FY13 and FY14 The advance estimate for FY15 growth has been pegged at 7 5 According to the new series GDP grew at 7 4 in 4Q14 overtaking China as the fastest growing economy India is now pegged to grow at a faster pace than China over the next two years However any meaningful analysis of past trends economic cycles and potential output remains challenging Over time these issues are likely to get addressed Funds There was an increase in the new fund closures during the quarter 1Q15 exhibited the highest fund raise in the last seven quarters The activity was dominated by sector agnostic funds There were also 12 new fundraising plans reported in this quarter with a decline in value of 30 from the previous quarter Out of these 12 funds half were VC funds Four are focused on investing in technology startups reflecting increasing interest in early stage technology investments Transactions and exits There was a decline in the aggregate deal value compared to the previous quarter but a significant increase in the deal volumes Early stage VC investments grew 53 from the previous quarter This is an indicator of the improving investor and corporate confidence in India The quarter reported a increase in PE exits compared 4Q14 Open market exits lead in terms of volume and value Strategic exits almost tripled during the quarter as firms looked to expand by acquiring smaller firms There were no PE backed IPOs in the quarter Buybacks also declined during the quarter Tax and regulatory updates In the full print edition you can find the the key fiscal amendments from Budget 2015 Finance Bill 2015 Income computation and Disclosure Standards ICDS New legislation for Ordinary

    Original URL path: http://www.ey.com/GL/en/Industries/Private-Equity/EY-private-equity-roundup-india-2015 (2016-02-10)
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  • EY - Private equity roundup for Africa 2015 - EY - Global
    Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Private Equity Private equity roundup for Africa 2015 Private equity roundup for Africa 2015 Share Rapid expansion across the emerging markets is perhaps the most important development for the PE industry Interest in Africa has never been higher and it continues to see strong interest from investors Fundraising trended higher in 2014 and the value of transactions nearly doubled during the year PE s impact in the region is only beginning to be felt The next decade promises to be an exciting time for PE in the region Economic overview Since the end of the Cold War and apartheid Africa has embarked on a series of long term reforms and reduced armed conflicts resulting in increased stability which has opened the door to economic growth and development The increase in Africa s quality of life is leading to a shift in focus for foreign direct investment FDI from extractive to consumer facing industries Also the share of FDI projects in Africa with other African countries as their source is increasing markedly making intra African investment the second largest source of FDI Africa s perceived attractiveness has risen dramatically over the last several years according to our latest Africa Attractiveness Survey Africa is currently the world s fourth most attractive destination for investment while just five years ago Africa ranked near the bottom of the list at number eight Fundraising Fundraising for the region remained strong in 2014 increasing 24 to US 4 1b This rise came amid a shifted back to developed markets which showed that investors continue to believe in Africa s potential Africa should remain high on the radar screens as the PE industry there continues to grow and mature compared to other emerging markets which are reaching saturation Transactions The aggregate deal value of completed African transactions in 2014 rose nearly 90 to US 8 1b spread across a range of deal types As currency appreciation and rapid wage increases occur in other countries Africa is well positioned to step in for the manufacturing needs of other countries and see a wave of industrial migration go its way Investor interest continues to expand well beyond the borders of South Africa PE firms are looking at and increasingly investing in Nigeria Kenya and many other countries in the region Exits The availability of effective exit routes

    Original URL path: http://www.ey.com/GL/en/Industries/Private-Equity/EY-private-equity-roundup-for-africa-2015 (2016-02-10)
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  • EY - Private equity roundup for China 2015 - EY - Global
    Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Private Equity Private equity roundup for China 2015 Private equity roundup for China 2015 Share 2014 was a challenging year for private equity in China A shift from export to a consumption driven model has led to lower growth rates But new opportunities are just around the corner Economic overview After more than 30 years of growth driven by an investment centric model China shifts from its manufacturing heavy roots toward a more balanced economy driven by domestic consumption This is key to China s future growth and stability but has led to reduced growth However the long term growth rate is still expected to exceed that of the developed markets for the foreseeable future This more sustainable growth China s increasingly open capital markets population of 1 3b and rising middle class continue to make it an attractive destination for PE Fundraising Fundraising activity increased in China over the course of 2014 with US 30 4b raised by funds focused on the country This represents an increase of 15 7 over 2013 The success of Asia focused vehicles in attracting capital shows that investors are interested in well established teams with a significant local presence and strong track record A proven ability to return capital in a challenging exit environment will be key to their success Acquisitions and exits Investment activity increased versus last year despite the challenging macro environment PE firms announced investments valued at US 14 2b in 2014 a 31 increase over 2013 One of Beijing s key reforms in M A in 2014 was to relax regulatory oversight of cross border M A activity designed to encourage overseas investment by strategic and financial investors alike After the IPO moratorium was repealed exit activity picked up and prompted a new wave of PE backed deals Observers expect an increased focus by PE firms on liquidating positions in companies acquired over the last five years Regulatory update The China Securities Regulatory Commission CSRC is the industry s primary regulator One of its first priorities was to bring China s regulatory framework more in line with other jurisdictions Another important development was the relaxation of rules governing M A A comprehensive well designed regulatory framework is perhaps drawing nearer The most significant regulatory development is Beijing s focus on streamlining state owned enterprises SOEs Many

    Original URL path: http://www.ey.com/GL/en/Industries/Private-Equity/ey-private-equity-roundup-china (2016-02-10)
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  • EY - Private equity roundup for Latin America 2015 - EY - Global
    Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Private Equity Private equity roundup for Latin America 2015 Private equity roundup for Latin America 2015 Share 2014 was a challenging year for Latin American economies Decreasing foreign demand falling commodities prices and a reversal of asset flows back to developed markets all contributed to an economic slowdown that ultimately slackened private equity activity Although total deal value increased modestly to US 4 3b the number of PE transactions fell 18 to 76 Activity remains below 2012 levels when 101 deals totaling US 4 5b took place However there is little indication that investors are withdrawing from the region Indeed many seem to be increasing their commitments Fundraising increased 73 over 2013 to US 9 0b and nearly 60 firms in the region are actively fundraising Economic overview Although Latin America s overall growth slowed individual countries varied significantly For instance the region s two largest economies Mexico and Brazil are trending in opposite directions Mexico continues to benefit from the ongoing US recovery and the IMF expects its economy to grow at a healthy 3 5 in 2015 Brazil faces a more challenging environment with growth of only 1 4 expected this year see chart Actual and projected GDP growth in Latin America 2013 15 For the entire region inflation continues to be a concern Latin America has a significantly higher rate of inflation than many other developing markets including Asia which could ultimately threaten growth Fundraising As noted above the region experienced a strong fundraising year However the total remains well below the peak of US 17 8b raised in 2011 see chart Latin America fundraising 2010 14 in US b The case for continued fundraising growth in 2015 is strong Many of the funds that closed during the region s peak fundraising years are actively seeking exits for their investments providing fresh capital for reinvestment Transactions and exits The three largest deals of 2014 occurred in the first quarter and activity tapered off as the year progressed In the largest transaction valued at US 750m Partners Group acquired Mexico based Fermaca from Ospraie Management The transaction reflects increased interest in the oil and gas space and many other large deals in 2014 involved energy investments Consumer products and retail also remained attractive to PE investors 2014 saw only 19 exit announcements including one IPO The quiet environment stands in sharp contrast to many developed markets which saw record levels of exit activity Regulatory update Although many issues must still be addressed including security problems and high levels of perceived corruption Latin America is making strides toward the structural

    Original URL path: http://www.ey.com/GL/en/Industries/Private-Equity/ey-pe-roundup-for-latin-america-2015 (2016-02-10)
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  • About our Private Equity services - EY - Global
    Investigation Dispute Services Tax About Our Global Tax Services Country Tax Advisory Cross Border Tax Advisory Global Trade Global Compliance and Reporting Human Capital Private Client Services Law Tax Accounting Tax Performance Advisory Tax Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Private Equity About our Private Equity services Private Equity Overview About our Private Equity services Advisory Assurance Tax Transactions Contacts Events Library Press Share About our Private Equity services Who we are Value creation extends beyond the private equity acquisition date to the entire life cycle of ownership of the portfolio company and fund advice EY s Global Private Equity Center offers a tailored approach to the unique needs of private equity funds transaction processes investment stewardship and portfolio companies performance Our global reach Private equity firms continue to expand into new geographies setting up new offices to take advantage of key opportunities in growth markets Increasingly portfolio companies are looking to capitalize on the economic strength of the emerging markets We have an extensive global footprint with PE expertise a network which is a competitive advantage in serving expanding PE firms Mitigate

    Original URL path: http://www.ey.com/GL/en/Industries/Private-Equity/Private-Equity_About-our-Private-Equity-services (2016-02-10)
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