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May 2014 Private Equity Digest
May 20, 2014 download PDF
Attached is the latest edition of the Paul, Weiss "Private Equity Digest." In this issue, we highlight a recent speech by Andrew Bowden, the Director of the SEC's Office of Compliance Inspections and Examinations, in which he discusses areas of concern and deficiency revealed during presence exams of registered private equity fund advisers.
In other news, April 2014 was active for sponsor-related M&A, logging in the highest monthly dollar volume and number of deals in the U.S. and globally for at least the last 12 months. Other areas, however, saw more mixed results. As compared to March figures, there were more U.S. sponsor-backed exits by number, but those exits resulted in a lower total dollar volume. IPO exits had a particularly strong showing last month, with 11 sponsor-backed IPOs, the largest number since October 2013. These IPO exits together totaled $6.31 billion, which is the highest dollar amount for at least the last 12 months. U.S. private equity fundraising increased significantly over March as measured by the $23.7 billion raised, but saw a small decline in the number of funds closed (from 28 in March to 25 in April).