Evca Yearbook 2011

Table of Contents
CREATING LASTING VALUE
Print
EVCA Yearbook 2011 I 1
Europe
Key Private Equity and Venture Capital metrics:
The fundraising challenge
20bn of funds raised (2009: 18bn; 2008: 80bn)

2bn invested by pension funds and funds-of-funds,
well below their historical contributions
41bn invested into 4,816 European businesses
(2009: 23bn in 4,696 businesses)
15bn(1) divested (2009: 12bn)
1,696 active private equity and venture capital firms
managing 523bn of capital from Europe
Despite increased distributions and an overall better

macroeconomic and financial environment, 2010 saw no
sustained fundraising recovery. Uncertainty remained on the
extent of the economic recovery in Europe, and LPs were still
assessing their strategies and beliefs on private equity and its
potential. As a result, fundraising levels increased just 13% to
20bn, still far below the 2006 peak of 112bn.
Pension funds and funds-of-funds commitments hovers
around 2bn
The big picture
Commitments from pension funds and funds-of-funds, which

decreased drastically in 2009 largely due to the denominator
effect, stabilised in 2010 above 2bn. Pension funds
accounted for 12% of all funds committed, while funds-of
funds provided 11% of the total. Banks, which accounted for
19% of total funds raised in 2009, reduced significantly their
commitments in 2010, accounting for 9% of the total only.
On the contrary, the share of family offices in the total funds
raised increased significantly, from 6% in 2009 to 9% in 2010,
but was mainly driven by the launch of one large captive
private equity programme. Government agencies share of
contributions remained relatively stable at 9%.
Private equity and venture capital investment into European

countries was equivalent to 0.3% of European GDP - up from
0.2% in 2009, driven by the sharp increase in Europe-wide
private equity investment.
Number of players
There are 1,696 active private equity firms with offices in Europe,
of which 709 are venture firms, 505 are buyout firms and 74
are growth firms. The remaining firms are generalist firms.
An additional, 47 private equity firms with offices elsewhere
in the world made investments into European companies.
(1) At cost, excluding write-offs
Investments - (market statistics) as % of GDP

l 2010
l 2009
1.2%
1.0%
0.8%
0.6%
0.4%
0.2%
Greece
Ex-Yugoslavia &
Slovakia
Baltic countries
Hungary
Ukraine
Romania
Italy
Portugal
Czech Republic
Denmark
Germany
Poland
Luxembourg
Bulgaria
Austria
Belgium
Spain
Europe
Switzerland
Finland
Netherlands
France
Ireland
Norway
United Kingdom
Sweden
0.0%
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Europe
Print
Funds raised - Evolution of European private equity funds raised - Industry statistics
120
100
80
60
112.3
40
79.9
71.8
20
79.9
40.0
27.5
27,5
27.0
17.5
20.0
2009
2010
0
2001
2002
2003
2004
2005
Funds raised - by type of investor 2010
Academic institutions
0.1%
2006
2007
2008
Funds raised - by type of investor 2009
Banks
8.8%
0.2%
Banks
19.0%
Unknown
8.3%
Unknown
17.0%
Capital markets
7.3%
Sovereign wealth funds

1.6%

5.8%
Corporate investors
3.2%
Private individuals
3.5%
Endowments and
foundations
1.0%
Pension funds
13.7%
Family offices
9.4%
Other asset managers

3.3%
Fund of funds
10.5%
Insurance companies
9.5%
Pension funds
12.1%
5.1%
Insurance companies
5.1%
Government agencies
9.3%
General partners raising funds in 2010 still relied mainly

on domestic investors, which provided close to 50% of
commitments (as in 2009). European non-domestic limited
partners share remained relatively stable, at around 24%,
while the amount of funds committed by non-European
investors remained very low compared to historical levels,
accounting for 12% of the total.
More, smaller funds
Less than a tenth of active GPs had a final fund closing in
2010, 26% more than in 2009 (84), but well below the 2007
(179) and 2008 levels (152). The average fund size remained
stable at 172m.
Private individuals
4.4%
Government agencies
10.2%
Capital markets
2.6%
Corporate investors
6.0%
Endowments and
foundations
2.7%
Family offices
6.0%
Fund of funds
12.5%
Venture capital
Venture capital managers raised 48 funds with an average
size of 47m (2009: 54m)
Buyout & growth
Buyout & growth managers raised 42 funds, twice as many
as the year before, but with a smaller average size of 359m
(2009: 410m). Three 1bn-plus funds reached final closings
in 2010, similar to 2009 (two), but still well below the 2007
(12 1bn-plus funds) and 2008 (15) levels.
Table of Contents
Europe
Print
Funds raised - Amount and number of funds raised at final closings

l Funds <1bn (Amount)
l Funds 1bn+ (Amount)
Funds <1bn (Number)
Funds 1bn+ (Number)
80
180
70
160
140
60
120
billion
38.6
100
45.9
40
80
30
number of funds
50
60
20
40
5.7
28.2
5.5
22.2
10
20
12.4
8.9
0
0
2007
2009
2009
Investments
2010
Buyouts(2)
The return of debt availability as indicated by the decreasing
average equity ratio in 2010 (from 53.1% in 2009 to 50.6% in
2010(1)), drove investment up to 31bn, 110% above the 2009
level. A total of 16 mega buyouts (above 300m in equity)
were recorded, backed up by 32 large buyouts (between
150m and 300m in equity), while only three mega and
11 large deals had taken place in 2009. Mid-market deals were
also on the rise, with 235 deals closed up from 123 in 2009.
Private equity supported more than 4,800 European

companies in 2010
European private equity firms had an estimated 111bn in dry
powder at the end of 2009 In addition, the return of debt
availability helped the buyout market to recover from the
2009 trough.
European private equity and venture capital firms invested
43bn into 5,033 European companies, up from 24bn in
2009. Close to 230 non-EU companies received financing
from European private equity and venture capital firms.
(2) Buyouts here includes buyout, rescue/turnaround and replacement capital

(3) S&P LCD
Investments - Evolution of European private equity investments - Industry statistics

l Amount (equity value)
Number of companies
80
12,000
70
10,000
60
billion
6,000
40
71.2
30
72.2
4,000
54.3
47.1
20
36.9
35.0
24.3
10
42.6
27.6
29.1
2002
2003
2,000
24.0
0
2000
2001
2004
2005
2006
2007
2008
2009
2010
number of companies
8,000
50
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Europe
Print
Slightly less than 1,000 later-stage venture companies

received financing, while 1,610 start-up companies were
financed. Close to 360 seed deals took place, worth 111m.
Growth capital
Growth capital investment increased by 42% to 6bn.
Nearly 1,000 growth companies were financed, 28% more
than in the previous year (770).
About 57% of the companies financed were new investments

for the private equity firms, up from 50% in 2009. Most had
already received private equity backing (56% of the total).
Venture capital
Venture investment fell 7%, to 3.5bn, the lowest level since
1996(4). A total of 2,885 venture companies were financed.
Both start-up and later-stage investment dropped by 7%,
to about 1.7bn each.
(4) In 1996 European PE firms had invested 3.1bn in venture, of which at least 82%
was invested into European companies.
Investments - Investments by country of portfolio company (Indexation of amount invested, Q1 2007 = 100)
Venture
Growth
Buyout
Total investment
250
200
150
100
50
0
Q1
Q2
Q3
Q4
2007
Q1
Q2
Q3
Q4
Q1
Q2
2008
Q3
Q4
Q1
Q2
2009
Q3
Q4
2010
Note: buyout here includes buyout, rescue/turnaround and replacement capital
Investments - Initial vs follow-on investments

l Initial for the company
l Follow-on for the company
l Initial for the private equity firm
100%
100%
80%
80%
45%
48%
56%
57%
60%
60%
60%
57%
53%
50%
40%
40%
55%
52%
20%
43%
44%
2009
2010
0%
20%
0%
2007
2009
Note: Percentages are calculated on the number of companies for which the breakdown was known
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Europe
Print
Life sciences & healthcare topped the investment ranking

Investment in consumer goods & retail soared in 2010,
to 8.1bn, about 2.8 times more than in 2009 (2.9bn)
and above the 2008 level (6.8bn). More than 480 consumer
goods & retail companies were invested. It accounted for
one-fifth of total investment in Europe.
Life sciences investment was the next largest sector by value,

with 5.7bn invested up from 3.4bn in 2009. In terms of
companies financed, life sciences came on a par with
computer & consumer electronics, accounting for 17% of
investments. About 80% of the companies financed in these
two sectors received venture financing, while 81% of the value
was invested in the buyout & growth segment.
Investments - Venture investment by sector in Europe (% of total amount)

l 2010
l 2009
Agriculture
Business and industrial products
Business and industrial services
Chemicals and materials
Communications
Computer and consumer electronics
Construction
Consumer goods and retail
Consumer services: other
Energy and environment
Financial services
Life sciences
Real estate
Transportation
Unknown
0%
5%
10%
15%
20%
25%
30%
35%
25%
30%
35%
Investments - Buyout & growth investment by sector in Europe (% of total amount)

l 2010
l 2009
Agriculture
Communications
Construction
Financial services
Life sciences
Real estate
Transportation
Unknown
0%
5%
10%
15%
20%
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Europe
Private equity supported nearly 4,000 SMEs

As in previous years, more than 80% of the companies that
attracted private equity capital in 2010 were SMEs. More than
3,900 SMEs were backed by private equity houses, attracting
one-fifth of the total private equity investment in 2010.
Of these SMEs, 70% were financed by venture capital,
while 30% attracted buyout & growth financing.
Investments - 2010 Venture investments by number

of employees
500-999
0.3%
Print
SME investment in the venture sector accounted for more

than 90% of investment in the sector, similar to 2009,
whereas the proportion of SME investment in the buyout
segment was below one-fifth, down from a quarter in 2009.
More than 60% of the buyout investment went into
companies with more than 1,000 employees.
Investments - 2010 Buyout & growth investments

by number of employees
1,000-4,999
0.6%
5,000+
3.0%
0-19
11.4%
250-499
1.3%
200-249
0.4%
5,000+
0.0%
1,000-4,999
13.2%
100-199
5.8%
20-99
33.0%
500-999
8.6%
0-19
58.6%
20-99
29.5%
250-499
12.5%
200-249
6.2%
In 2010, private equity firms based outside Europe invested

1.2bn in 54 companies in Europe, up from 500m invested
in 47 companies in 2009. About 48% of this amount came
from Canadian investors, while 46% came from US investors.
The amount that European private equity houses invested
abroad increased sharply as well, to 2.5bn in 229 companies,
from 1.3bn in 218 companies in 2009. More than half of
the amount invested outside Europe in 2010 went to
168 US companies.
About 80% of the amount invested in non-European countries
(and one-fifth of the companies financed) were accounted
for by UK private equity firms (2bn across 52 companies)
more than twice the amount invested by UK players in
non-European companies in 2009. French firms (102m in
15 companies) and German firms (67m in 46 companies) also
made a significant number of investments into non-European
companies albeit with significantly smaller amounts of capital.
Investments - Geographical flows of investments

in 2010
l Domestic investments by local PE firms
l Intra-European investments
l foreign PE firms investing in portfolio companies in Europe
l local PE firms investing into portfolio companies outside Europe
45,000
1,183
40,000
2,487
35,000
9,060
9,060
31,004
31,004
30,000
million
International capital flows
100-199
15.6%
25,000
20,000
15,000
10,000
5,000
0
Industry statistics
Market statistics
(location of private equity firm)
(location of portfolio company)
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Europe
Print
Divestments
The exit market reopened
After two years of sharp slowdown due to the asset repricing
triggered by the financial and economic crisis, divestments
recovered significantly in 2010. The stock markets rebounded
further in 2010, and IPOs increased four-fold in Europe (from
46 in 2009 to 200 in 2010). Trade buyers remained less active
than in 2007 and 2008, but private equity firms which had a
lot of dry powder to put to work, recognised the value of the
assets in their peers portfolio and boosted the exit market by
closing a large number of secondary operations.
In the course of the year, a total of 19bn was realised
at cost from 2,086 companies across Europe.
Divestments came back above the 2008 level of 14bn
divested at cost from 2,001 companies. Write-offs excluded,
divestment at cost doubled to 15bn.
Trade sales was the second most lucrative exit method

(4.3bn). The number of trade sales was relatively equally
spread between venture (172 companies) and buyout & growth
(192 companies). IPOs increased significantly, from 5 in 2009
to 20 in 2010, benefiting from the better environment in
public markets.
Despite the overall improved economic environment, the level
of write-offs in 2010 remained similar to 2009, with 4.1bn
written off at cost. The number of written-off companies in
2010 stood at 398, representing 1.5% of the European
portfolio of 26,000 companies. The majority of write-offs
(67%) were venture divestments.
Similar to 2010, more than a fifth (4.1bn) of the total amount
divested at cost came from 302 consumer goods & retail
businesses. About half of the value divested at cost from
the sector came from secondary deals (2.1bn). In terms of
number of companies exited, business & industrial products
topped the ranking with 395 companies (19% of the total).
In addition, EU based firms exited 81 non-EU companies

in 2010, with a total amount divested at cost of 1.1bn.
Secondaries topped the charts, registering 6.3bn divested
at cost (nearly a third of all divestment at cost) spread across
12% of the 2,086 companies divested. Secondaries intensified
during the second part of 2010 especially during the final
quarter, which accounted for almost half of the amount divested
at cost and one-third of the companies exited via this route.
In the buyout & growth space, consumer goods & retail took
the lions share of amount divested at cost (24%) and number
of exited companies (22%). In the venture space, life sciences
came first by amount at cost with 29% of the total (583m),
followed by computer & consumer electronics with 25%
(507m). In terms of companies exited, business & industrial
products topped the venture ranking with 18% of the total,
right before life sciences and computer & consumer
electronics with 17% each.
Divestments - Evolution of private equity divestments - Industry statistics (amount divested at cost)
l Divestments at cost
Number of companies
35
6,000
30
5,000
25
4,000
billion
3,000
33.1
15
29.8
27.1
2,000
10
19.8
19.6
12.5
9.1
14.2
13.6
1,000
11.8
10.7
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
number of companies
20
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Europe
Print
Divestments - Divestments by exit method - Amount at cost - Market statistics

l Other
l Trade sale
l Sale to another private equity house
l Public offering
30
25
billion
20
15
10
2007
2009
2009
2010
Divestments - Divestment by sector (excluding write-offs) - % of amount

l Buyout & growth
l Venture
Agriculture
Communications
Construction
Financial services
Life sciences
Real estate
Transportation
Unknown
0%
5%
10%
15%
20%
25%
30%
35%
Table of Contents
Europe
Divestment flows
In 2010, divestments made outside Europe by European
private equity firms took place mainly in the US, which saw
759m divested at cost from 63 companies, Asia with 102m
divested at cost from six companies, and Israel with 101m
from five companies.
Print
Investments - Geographical flows of divestments

in 2010
l Domestic divestment
l Foreign divestment
25,000
Divestments at cost by non-European players from European

companies totalled 322m.
20,000
1,076
322
million
15,000
10,000
18,951
18,951
Divestment by location
Divestment by location
of private equity firm
of portfolio company
5,000
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Europe
Print
Funds raised - Total funds raised 2009/2010
Amounts in million
United Kingdom
France
Germany
Netherlands
Sweden
Spain
Belgium
Switzerland
Italy
Norway
Denmark
Finland
Austria
Portugal
Hungary
Poland
Luxembourg
Romania
Ireland
Baltic countries
Ukraine
Czech Republic
Other CEE*
Bulgaria
Greece
European total
* Other CEE consists of Ex-Yugoslavia & Slovakia
2009
2010
Amount
Amount
Change %
5,635
2,216
1,071
1,046
827
691
355
907
2,311
17
289
315
286
1,001
35
135
213
0
124
0
0
48
43
0
200
17,765
7,699
4,216
1,316
1,243
791
777
732
638
547
411
284
280
268
142
119
115
108
94
92
86
35
12
9
0
0
20,014
36.6
90.3
22.9
18.8
-4.3
12.5
106.2
-29.6
-76.3
2,263.2
-1.9
-11.1
-6.3
-85.9
239.0
-14.9
-49.2
n.a.
-25.8
n.a.
n.a.
-74.8
-78.9
0.0
-100.0
12.7
Table of Contents
Europe
Print
Funds raised - New funds raised 2010

New funds raised
by country of origin
Amounts in million
Austria
Baltic countries
Belgium
Bulgaria
Czech Republic
Denmark
Finland
France
Germany
Greece
Hungary
Ireland
Italy
Luxembourg
Netherlands
Norway
Other CEE*
Poland
Portugal
Romania
Spain
Sweden
Switzerland
Ukraine
United Kingdom
Unknown European
European total
Australasia
Canada
USA
Other rest of the world
Total rest of the world
Unknown
Total
New funds raised

by country of management
Amount
Amount
172
23
551
0
9
294
364
2,737
1,355
60
10
117
509
0
409
253
0
8
88
0
617
428
1,407
0
3,154
1,476
14,039
577
65
1,700
16
2,357
3,602
19,999
0.9
0.1
2.8
0.0
0.0
1.5
1.8
13.7
6.8
0.3
0.0
0.6
2.5
0.0
2.0
1.3
0.0
0.0
0.4
0.0
3.1
2.1
7.0
0.0
15.8
7.4
70.2
2.9
0.3
8.5
0.1
11.8
18.0
100.0
268
86
732
0
12
284
280
4,216
1,313
0
119
92
547
108
1,242
411
9
115
142
94
777
790
638
35
7,689
0
19,999
1.3
0.4
3.7
0.0
0.1
1.4
1.4
21.1
6.6
0.0
0.6
0.5
2.7
0.5
6.2
2.1
0.0
0.6
0.7
0.5
3.9
4.0
3.2
0.2
38.4
0.0
100.0
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Europe
Print
Funds raised - Industry statistics - Incremental closings during year

2009
Amounts in thousands
2010
Amount
Amount
15,290,650
2,343,080
17,633,730
131,300
17,765,030
86.1
13.2
99.3
0.7
100.0
17,718,030
2,280,650
19,998,680
15,240
20,013,920
88.5
11.4
99.9
0.1
100.0
1,464,900
481,860
1,538,980
3,485,740
1,028,310
10,297,270
496,680
2,457,030
17,765,030
8.2
2.7
8.7
19.6
5.8
58.0
2.8
13.8
100.0
1,042,590
480,800
1,808,060
3,331,450
2,564,360
11,516,650
947,140
1,654,320
20,013,920
5.2
2.4
9.0
16.6
12.8
57.5
4.7
8.3
100.0
30,670
3,347,420
454,520
1,052,980
483,200
1,052,670
2,195,590
1,801,140
1,680,830
583,950
0.2
19.0
2.6
6.0
2.7
6.0
12.5
10.2
9.5
3.3
21,200
1,753,130
1,454,960
640,800
208,700
1,880,560
2,105,390
1,859,650
1,022,570
1,013,870
0.1
8.8
7.3
3.2
1.0
9.4
10.5
9.3
5.1
5.1
2,424,430
769,510
290,120
1,466,700
17,633,730
13.7
4.4
1.6
8.3
100.0
2,419,680
1,054,180
1,161,950
3,402,040
19,998,680
12.1
5.3
5.8
17.0
100.0
13,300,490
9,501,180
3,799,310
2,454,670
1,878,570
17,633,730
75.4
53.9
21.5
13.9
10.7
100.0
14,039,420
9,260,840
4,778,580
2,357,430
3,601,830
19,998,680
70.2
46.3
23.9
11.8
18.0
100.0
Fund ownership type

Independent funds raised
Amount raised by captives
New funds raised
Realised capital gains
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Endowments and foundations
Family offices
Funds-of-funds
Government agencies
Insurance companies
(including private equity houses other than funds-of-funds)
Pension funds
Private individuals
Unknown
New funds raised
Geographic sources of funds
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
70.2
46.3
23.9
11.8
18.0
82.0
12.1
5.3
5.8
17.0
100.0
2,419,680
1,054,180
1,161,950
3,402,040
19,998,680
14,039,420
9,260,840
4,778,580
2,357,430
3,601,830
19,998,680
0.1
8.8
7.3
3.2
1.0
9.4
10.5
9.3
5.1
5.1
5.2
2.4
9.0
16.6
12.8
57.5
4.7
8.3
100.0
88.5
11.4
99.9
0.1
100.0
21,200
1,753,130
1,454,960
640,800
208,700
1,880,560
2,105,390
1,859,650
1,022,570
1,013,870
1,042,590
480,800
1,808,060
3,331,450
2,564,360
11,516,650
947,140
1,654,320
20,013,920
17,718,030
2,280,650
19,998,680
15,240
20,013,920
Europe
Amount
164,300
102,300
62,000
24,000
80,000
268,300
0
11,100
0
80,000
268,300
0
61,880
0
0
0
0
0
101,430
1,890
12,000
17,600
9,000
0
26,600
0
36,000
190,000
15,830
268,430
192,800
75,500
268,300
130
268,430
Austria
Amount
84,930
23,120
61,810
0
690
85,620
4,450
7,090
0
690
85,620
0
2,600
880
2,300
0
900
0
61,810
0
4,900
7,200
8,420
20,000
35,620
20,000
0
0
30,000
85,620
85,620
0
85,620
0
85,620
Baltics
Amount
524,120
461,370
62,750
207,830
0
731,950
195,160
19,340
0
0
731,950
2,700
17,750
0
1,500
6,500
38,500
45,500
15,000
25,000
365,000
42,000
0
0
42,000
0
689,950
0
0
731,950
731,950
0
731,950
0
731,950
Belgium
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bulgaria
Amount
11,100
8,700
2,400
900
0
12,000
0
6,150
0
0
12,000
0
0
0
5,850
0
0
0
0
0
0
12,000
0
0
12,000
0
0
0
0
12,000
12,000
0
12,000
0
12,000
Czech Rep.
Amount
283,370
253,500
29,870
40
180
283,590
164,890
320
0
180
283,590
0
9,400
0
3,220
0
33,300
25,940
30,220
9,400
6,720
71,180
0
134,000
205,180
0
78,410
0
0
283,590
283,590
0
283,590
0
283,590
Denmark
Amount
265,770
222,070
43,700
13,900
0
279,670
93,000
280
0
0
279,670
18,000
3,260
0
45,210
0
20,820
51,000
18,100
25,000
5,000
50,000
0
0
50,000
58,500
91,600
60,000
19,570
279,670
267,850
11,820
279,670
0
279,670
Finland
Amount
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Investor type
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Fund stage focus

New funds raised
Total funds raised
Fund ownership type
All Private Equity
Europe
Table of Contents
Print
1,155,200
991,650
163,550
4,250
153,250
1,312,700
17,420
277,700
0
13,450
1,312,700
350,640
315,060
766,430
561,620
4,216,490
3,189,370
2,497,530
691,840
390,030
637,090
4,216,490
0
546,680
0
175,000
23,330
44,750
125,180
26,510
50,430
12,250
281,000
106,410
183,490
570,900
200,000
244,100
301,000
0
1,316,000
1,137,700
175,000
1,312,700
3,300
1,316,000
Germany
Amount
0
301,360
147,650
301,680
83,810
213,650
479,390
457,960
229,490
7,750
168,030
217,910
451,220
837,160
288,170
1,936,600
152,000
1,002,560
4,216,490
4,111,490
105,000
4,216,490
0
4,216,490
France
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Amount
98,600
9,690
88,910
0
20,450
119,050
0
0
0
20,450
119,050
0
4,140
0
0
0
0
0
94,460
0
0
73,020
0
46,030
119,050
0
0
0
0
119,050
119,050
0
119,050
0
119,050
Hungary
Amount
92,000
56,410
35,590
0
0
92,000
14,000
16,250
0
0
92,000
0
15,000
0
0
0
0
0
46,750
0
0
17,000
0
75,000
92,000
0
0
0
0
92,000
92,000
0
92,000
0
92,000
Ireland
Amount
347,000
347,000
0
0
200,000
547,000
65,700
1,500
0
210,300
547,000
0
62,500
0
0
27,000
0
55,000
0
0
125,000
0
0
0
0
0
340,000
0
207,000
547,000
547,000
0
547,000
0
547,000
Italy
Amount
94,760
0
94,760
13,290
0
108,050
3,160
29,940
0
0
108,050
0
0
0
0
0
59,950
0
0
0
15,000
0
0
0
0
108,050
0
0
0
108,050
108,050
0
108,050
0
108,050
Luxembourg
Amount
811,690
402,540
409,150
430,500
0
1,242,190
336,100
128,720
133,400
0
1,242,190
0
40,350
0
6,240
0
185,370
254,780
82,230
75,000
0
25,220
0
80,000
105,220
59,450
911,500
0
167,020
1,243,190
1,075,120
167,070
1,242,190
1,000
1,243,190
Netherlands
Amount
371,160
162,860
208,300
35,970
3,590
410,720
85,640
3,000
0
3,570
410,720
0
23,480
0
0
26,790
32,910
78,220
65,880
12,450
78,780
95,570
0
0
95,570
0
315,150
0
0
410,720
410,720
0
410,720
0
410,720
Norway
Amount
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Investor type
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Fund stage focus

New funds raised
Total funds raised
Fund ownership type
All Private Equity
Europe
Table of Contents
Print
92,000
0
92,000
2,000
0
94,000
0
5,000
0
0
94,000
0
7,000
0
0
0
0
0
57,000
0
25,000
0
0
0
0
94,000
0
0
0
94,000
94,000
0
94,000
0
94,000
Romania
Amount
629,020
609,940
19,080
620
147,200
776,840
0
15,850
0
132,200
776,840
500
91,660
0
1,010
0
165,720
500
355,800
7,000
6,600
71,340
0
343,100
414,440
85,500
149,000
0
127,900
776,840
393,610
383,230
776,840
0
776,840
Spain
Amount
692,670
391,370
301,300
95,280
2,240
790,190
35,400
4,090
0
2,740
790,190
0
0
305,870
46,450
0
0
345,700
49,940
0
0
9,040
19,530
2,950
31,520
162,000
583,370
0
14,460
791,350
772,650
17,540
790,190
1,160
791,350
Sweden
Amount
512,620
97,230
415,390
122,400
3,220
638,240
343,340
48,530
0
72,490
638,240
0
51,310
0
4,310
0
10,690
0
1,510
106,060
0
0
27,210
4,360
31,570
0
460,610
146,060
0
638,240
633,930
4,310
638,240
0
638,240
Switzerland
Amount
35,490
0
35,490
0
0
35,490
0
790
5,520
0
35,490
0
0
0
0
0
1,580
0
11,830
0
15,770
0
0
0
0
35,490
0
0
0
35,490
35,490
0
35,490
0
35,490
Ukraine
Amount
4,325,090
2,528,080
1,797,010
1,016,420
2,347,820
7,689,330
704,280
151,970
256,600
2,298,250
7,689,330
0
466,580
1,000,560
43,200
26,270
1,072,420
594,180
263,070
477,850
334,100
85,730
92,320
411,410
589,460
1,453,200
5,498,260
98,080
59,980
7,698,980
6,348,150
1,341,180
7,689,330
9,650
7,698,980
UK
Amount
9,000
0
9,000
0
0
9,000
0
0
0
0
9,000
0
0
0
0
0
0
0
9,000
0
0
9,000
0
0
9,000
0
0
0
0
9,000
9,000
0
9,000
0
9,000
Other CEE*
Amount
Table of Contents
137,500
87,820
49,680
0
4,000
141,500
6,500
11,500
0
4,000
141,500
0
0
0
2,100
114,760
112,660
7,660
105,000
0
2,100
114,760
0
48,180
0
1,000
15,000
0
0
52,320
3,000
0
0
0
56,500
56,500
0
75,000
0
10,000
141,500
141,500
0
141,500
0
141,500
Portugal
Amount
0
0
0
3,830
0
0
50,000
58,830
0
0
7,660
0
0
7,660
0
107,100
0
0
114,760
114,760
0
114,760
0
114,760
Poland
Amount
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Investor type
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Fund stage focus

New funds raised
Total funds raised
Fund ownership type
All Private Equity
Europe
Print
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Investor type

New funds raised
Total funds raised
Fund ownership type
60.8
37.8
23.0
39.2
0
100.0
27.1
8.9
4.1
100.0
29,232,350
9,567,909
4,367,921
107,858,136
65,549,086
40,752,813
24,796,272
42,309,050
0
107,858,136
3.6
14.4
1.2
3.7
18.2
8.7
10.1
-
76.8
19.2
96.0
4.0
100.0
3,853,566
15,532,522
1,346,378
4,007,207
19,583,816
9,429,451
10,937,016
-
86,295,086
21,563,050
107,858,136
4,479,133
112,337,269
Amount
2006
33,175,470
20,331,220
12,844,250
16,927,870
28,635,080
78,738,420
12,922,570
3,651,300
2,445,500
27,379,510
78,738,420
258,770
8,716,450
798,610
1,427,850
1,330,380
1,648,770
8,133,800
1,290,060
4,923,550
3,811,300
76,218,470
2,519,950
78,738,420
1,133,270
79,871,690
Amount
42.1
25.8
16.3
21.5
36.4
100.0
16.4
4.6
3.1
34.8
100.0
0.3
11.1
1.0
1.8
1.7
2.1
10.3
1.6
6.3
4.8
95.4
3.2
98.6
1.4
100.0
2007
36,107,130
20,118,550
15,988,580
28,677,860
14,993,130
79,778,120
22,929,050
3,838,500
2,288,810
11,429,630
79,778,120
161,240
6,500,210
1,111,480
1,857,960
3,452,500
3,769,430
11,236,890
1,901,730
5,394,450
3,906,240
76,754,540
3,023,580
79,778,120
121,290
79,899,410
Amount
Funds raised - Industry statistics - Incremental closings in the year - 5-year trend
45.3
25.2
20.0
35.9
18.8
100.0
28.7
4.8
2.9
14.3
100.0
0.2
8.1
1.4
2.3
4.3
4.7
14.1
2.4
6.8
4.9
96.1
3.8
99.8
0.2
100.0
2008
13,300,490
9,501,180
3,799,310
2,454,670
1,878,570
17,633,730
2,424,430
769,510
290,120
1,466,700
17,633,730
30,670
3,347,420
454,520
1,052,980
483,200
1,052,670
2,195,590
1,801,140
1,680,830
583,950
15,290,650
2,343,080
17,633,730
131,300
17,765,030
Amount
75.4
53.9
21.5
13.9
10.7
100.0
13.7
4.4
1.6
8.3
100.0
0.2
19.0
2.6
6.0
2.7
6.0
12.5
10.2
9.5
3.3
86.1
13.2
99.3
0.7
100.0
2009
14,039,420
9,260,840
4,778,580
2,357,430
3,601,830
19,998,680
2,419,680
1,054,180
1,161,950
3,402,040
19,998,680
21,200
1,753,130
1,454,960
640,800
208,700
1,880,560
2,105,390
1,859,650
1,022,570
1,013,870
17,718,030
2,280,650
19,998,680
15,240
20,013,920
Amount
70.2
46.3
23.9
11.8
18.0
100.0
12.1
5.3
5.8
17.0
100.0
0.1
8.8
7.3
3.2
1.0
9.4
10.5
9.3
5.1
5.1
88.5
11.4
99.9
0.1
100.0
2010
162,171,596
99,964,603
62,206,992
92,726,880
49,108,610
304,007,086
69,928,080
18,881,399
6,186,380
48,045,801
304,007,086
4,325,446
35,849,732
5,165,948
8,986,797
5,474,780
8,351,430
43,255,486
16,282,031
23,958,416
9,315,360
272,276,776
31,730,310
304,007,086
5,880,233
309,887,319
Amount
53.3
32.9
20.5
30.5
16.2
100.0
23.0
6.2
2.0
15.8
100.0
1.4
11.8
1.7
3.0
1.8
2.7
14.2
5.4
7.9
3.1
87.9
10.2
98.1
1.9
100.0
5-year total
Europe
Table of Contents
Print
Table of Contents
Europe
Print
Funds raised - Industry statistics - Final closings in the year by independent funds Cumulative amount raised since inception
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
1,112,320
426,640
726,470
2,265,430
551,320
9,356,100
1,170,200
1,104,480
14,447,530
17
6
19
42
6
17
4
15
84
65,431
71,107
38,235
53,939
91,887
550,359
292,550
73,632
171,994
553,490
320,360
1,364,860
2,238,710
1,450,190
12,917,350
703,740
875,800
18,185,790
20
6
22
48
5
34
3
16
106
27,675
53,393
62,039
46,640
290,038
379,922
234,580
54,738
171,564
18,400
608,250
98,300
252,690
575,000
872,810
272,570
11,749,510
14,447,530
1
2
1
4
1
8
6
61
84
18,400
304,125
98,300
63,173
575,000
109,101
45,428
192,615
171,994
0
0
111,500
482,340
500,000
376,530
469,320
16,246,100
18,185,790
0
0
1
4
1
5
6
89
106
0
0
111,500
120,585
500,000
75,306
78,220
182,540
171,564
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Agriculture, chemicals & materials
Business and industrial products & services
Consumer products, services & retail
Energy & environment
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
18,400
8,250
0
10,190
0
872,810
272,570
1,083,210
2,265,430
1
1
0
2
0
8
6
24
42
0
0
98,300
0
575,000
0
0
10,404,320
11,077,620
0
0
1
0
1
0
0
25
27
0
0
0
5,200
0
320,340
469,320
1,443,850
2,238,710
0
0
0
2
0
4
6
36
48
0
0
111,500
477,140
500,000
56,190
0
13,926,450
15,071,280
0
0
1
2
1
1
0
37
42
Fund sector focus by segment

Financial services
ICT
Life sciences
Generalist
Total funds raised
* Buyout includes Growth, Mezzanine and Buyout funds

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund stage focus
All Private Equity
0
0
111,500
482,340
500,000
376,530
469,320
16,246,100
18,185,790
553,490
320,360
1,364,860
2,238,710
1,450,190
12,917,350
703,740
875,800
18,185,790
Europe
Amount
0.0
0.0
0.6
2.7
2.7
2.1
2.6
89.3
100.0
3.0
1.8
7.5
12.3
8.0
71.0
3.9
4.8
100.0
0
0
0
2,100
0
0
9,000
0
11,100
2,100
9,000
0
11,100
0
0
0
0
11,100
Austria
Amount
0
0
0
0
0
0
0
28,420
28,420
0
8,420
0
8,420
20,000
0
0
0
28,420
Baltics
Amount
0
0
111,500
0
0
0
0
1,029,000
1,140,500
0
0
0
0
0
1,140,500
0
0
1,140,500
Belgium
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bulgaria
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Czech Rep.
Amount
Funds raised - Industry statistics - Final closings in the year by independent funds - Cumulative amount raised since inception
0
0
0
0
0
134,000
0
438,580
572,580
71,170
0
134,000
205,170
0
367,410
0
0
572,580
Denmark
Amount
0
0
0
0
0
0
0
294,600
294,600
0
0
0
0
0
294,600
0
0
294,600
Finland
Amount
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund stage focus
All Private Equity
0
0
0
0
0
35,000
139,000
2,341,870
2,515,870
70,070
166,710
430,620
667,400
20,000
835,670
127,000
865,800
2,515,870
France
Amount
0
0
0
0
0
0
0
362,490
362,490
0
46,900
160,590
207,490
0
155,000
0
0
362,490
Germany
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Amount
0
0
0
0
0
0
0
109,650
109,650
63,620
0
46,030
109,650
0
0
0
0
109,650
Hungary
Amount
0
0
0
0
0
0
0
17,000
17,000
17,000
0
0
17,000
0
0
0
0
17,000
Ireland
Amount
0
0
0
0
500,000
0
0
0
500,000
0
0
0
0
0
500,000
0
0
500,000
Italy
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Luxembourg
Amount
0
0
0
0
0
0
233,500
1,038,000
1,271,500
97,700
0
135,800
233,500
0
1,038,000
0
0
1,271,500
Netherlands
Amount
0
0
0
315,140
0
0
0
0
315,140
0
0
0
0
0
315,140
0
0
315,140
Norway
Amount
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund stage focus
All Private Equity
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Poland
Amount
0
0
0
0
0
0
0
85,000
85,000
0
0
75,000
75,000
0
0
0
10,000
85,000
Portugal
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Romania
Amount
0
0
0
3,100
0
0
0
245,000
248,100
0
0
18,100
18,100
0
230,000
0
0
248,100
Spain
Amount
0
0
0
162,000
0
0
0
356,030
518,030
18,570
0
0
18,570
162,000
337,460
0
0
518,030
Sweden
Amount
0
0
0
0
0
0
0
1,212,340
1,212,340
0
1,510
0
1,510
0
657,170
553,660
0
1,212,340
Switzerland
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Ukraine
Amount
0
0
0
0
0
207,530
87,820
8,669,720
8,965,070
194,860
87,820
364,720
647,400
1,248,190
7,046,400
23,080
0
8,965,070
UK
Amount
0
0
0
0
0
0
0
18,400
18,400
18,400
0
0
18,400
0
0
0
0
18,400
Other CEE*
Amount
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Buyout & Growth Deals

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Venture Deals
0
0
111,500
477,140
500,000
56,190
0
13,926,450
15,071,280
0
0
0
5,200
0
320,340
469,320
1,443,850
2,238,710
Europe
Amount
0.0
0.0
0.7
3.2
3.3
0.4
0.0
92.4
100.0
0.0
0.0
0.0
0.2
0.0
14.3
21.0
64.5
100.0
0
0
0
0
0
0
0
0
0
0
0
0
2,100
0
0
9,000
0
11,100
Austria
Amount
0
0
0
0
0
0
0
20,000
20,000
0
0
0
0
0
0
0
8,420
8,420
Baltics
Amount
0
0
111,500
0
0
0
0
1,029,000
1,140,500
0
0
0
0
0
0
0
0
0
Belgium
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bulgaria
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Czech Rep.
Amount
0
0
0
0
0
0
0
367,410
367,410
0
0
0
0
0
134,000
0
71,170
205,170
Denmark
Amount
0
0
0
0
0
0
0
294,600
294,600
0
0
0
0
0
0
0
0
0
Finland
Amount
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Venture Deals
0
0
0
0
0
0
0
982,670
982,670
0
0
0
0
0
35,000
139,000
493,400
667,400
France
Amount
0
0
0
0
0
0
0
155,000
155,000
0
0
0
0
0
0
0
207,490
207,490
Germany
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
109,650
109,650
Hungary
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
17,000
17,000
Ireland
Amount
0
0
0
0
500,000
0
0
0
500,000
0
0
0
0
0
0
0
0
0
Italy
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Luxembourg
Amount
0
0
0
0
0
0
0
1,038,000
1,038,000
0
0
0
0
0
0
233,500
0
233,500
Netherlands
Amount
0
0
0
315,140
0
0
0
0
315,140
0
0
0
0
0
0
0
0
0
Norway
Amount
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Venture Deals
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Poland
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
75,000
75,000
Portugal
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Romania
Amount
0
0
0
0
0
0
0
230,000
230,000
0
0
0
3,100
0
0
0
15,000
18,100
Spain
Amount
0
0
0
162,000
0
0
0
337,460
499,460
0
0
0
0
0
0
0
18,570
18,570
Sweden
Amount
0
0
0
0
0
0
0
1,210,830
1,210,830
0
0
0
0
0
0
0
1,510
1,510
Switzerland
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Ukraine
Amount
0
0
0
0
0
56,190
0
8,261,480
8,317,670
0
0
0
0
0
151,340
87,820
408,240
647,400
UK
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,400
18,400
Other CEE*
Amount
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund stage focus
Number of funds
All Private Equity
0
0
1
4
1
5
6
89
106
20
6
22
48
5
34
3
16
106
Europe
Number
0.0
0.0
0.9
3.8
0.9
4.7
5.7
84.0
100.0
18.9
5.7
20.8
45.3
4.7
32.1
2.8
15.1
100.0
0
0
0
1
0
0
1
0
2
1
1
0
2
0
0
0
0
2
Austria
Number
0
0
0
0
0
0
0
2
2
0
1
0
1
1
0
0
0
2
Baltics
Number
0
0
1
0
0
0
0
2
3
0
0
0
0
0
3
0
0
3
Belgium
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bulgaria
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Czech Rep.
Number
0
0
0
0
0
1
0
2
3
1
0
1
2
0
1
0
0
3
Denmark
Number
0
0
0
0
0
0
0
1
1
0
0
0
0
0
1
0
0
1
Finland
Number
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund stage focus
Number of funds
All Private Equity
0
0
0
0
0
1
1
32
34
4
1
6
11
1
6
1
15
34
France
Number
0
0
0
0
0
0
0
5
5
0
1
3
4
0
1
0
0
5
Germany
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Number
0
0
0
0
0
0
0
5
5
3
0
2
5
0
0
0
0
5
Hungary
Number
0
0
0
0
0
0
0
1
1
1
0
0
1
0
0
0
0
1
Ireland
Number
0
0
0
0
1
0
0
0
1
0
0
0
0
0
1
0
0
1
Italy
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Luxembourg
Number
0
0
0
0
0
0
3
3
6
2
0
1
3
0
3
0
0
6
Netherlands
Number
0
0
0
1
0
0
0
0
1
0
0
0
0
0
1
0
0
1
Norway
Number
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund stage focus
Number of funds
All Private Equity
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Poland
Number
0
0
0
0
0
0
0
2
2
0
0
1
1
0
0
0
1
2
Portugal
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Romania
Number
0
0
0
1
0
0
0
3
4
0
0
2
2
0
2
0
0
4
Spain
Number
0
0
0
1
0
0
0
4
5
2
0
0
2
1
2
0
0
5
Sweden
Number
0
0
0
0
0
0
0
3
3
0
1
0
1
0
1
1
0
3
Switzerland
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Ukraine
Number
0
0
0
0
0
3
1
23
27
5
1
6
12
2
12
1
0
27
UK
Number
0
0
0
0
0
0
0
1
1
1
0
0
1
0
0
0
0
1
Other CEE*
Number
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Number of funds
Venture Deals
0
0
1
2
1
1
0
37
42
0
0
0
2
0
4
6
36
48
Europe
Number
0.0
0.0
2.4
4.8
2.4
2.4
0.0
88.1
100.0
0.0
0.0
0.0
4.2
0.0
8.3
12.5
75.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
1
0
2
Austria
Number
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
1
1
Baltics
Number
0
0
1
0
0
0
0
2
3
0
0
0
0
0
0
0
0
0
Belgium
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bulgaria
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Czech Rep.
Number
0
0
0
0
0
0
0
1
1
0
0
0
0
0
1
0
1
2
Denmark
Number
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
Finland
Number
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Number of funds
Venture Deals
0
0
0
0
0
0
0
8
8
0
0
0
0
0
1
1
9
11
France
Number
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
4
4
Germany
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5
5
Hungary
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
Ireland
Number
0
0
0
0
1
0
0
0
1
0
0
0
0
0
0
0
0
0
Italy
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Luxembourg
Number
0
0
0
0
0
0
0
3
3
0
0
0
0
0
0
3
0
3
Netherlands
Number
0
0
0
1
0
0
0
0
1
0
0
0
0
0
0
0
0
0
Norway
Number
Europe
Table of Contents
Print

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus

Financial services
ICT
Life sciences
Generalist
Total funds raised
Fund sector focus
Number of funds
Venture Deals
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Poland
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
Portugal
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Romania
Number
0
0
0
0
0
0
0
2
2
0
0
0
1
0
0
0
1
2
Spain
Number
0
0
0
1
0
0
0
2
3
0
0
0
0
0
0
0
2
2
Sweden
Number
0
0
0
0
0
0
0
2
2
0
0
0
0
0
0
0
1
1
Switzerland
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Ukraine
Number
0
0
0
0
0
1
0
14
15
0
0
0
0
0
2
1
9
12
UK
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
Other CEE*
Number
Europe
Table of Contents
Print
Table of Contents
Europe
Print
Investments - Investments 2009/2010 - Industry statistics (by country of private equity firm)
Amounts in million /
Number of companies
United Kingdom
France
Germany
Sweden
Spain
Switzerland
Netherlands
Italy
Norway
Poland
Belgium
Denmark
Finland
Portugal
Austria
Ukraine
Luxembourg
Romania
Ireland
Hungary
Czech Republic
Baltic countries
Greece
Bulgaria
Other CEE*
European total
2009
2010
Amount
Amount
9,052
3,445
2,412
1,261
913
719
764
1,415
623
480
1,048
493
388
299
138
12
78
83
59
191
61
7
41
6
31
24,020
19,039
5,849
4,669
3,094
2,470
1,510
1,300
1,034
970
504
503
436
410
200
127
94
84
80
48
45
38
27
10
5
3
42,551
2009
2010
Change %
Number
Number
Change %
110.3
69.8
93.6
145.3
170.4
110.1
70.1
-26.9
55.8
5.0
-52.0
-11.6
5.5
-33.2
-7.5
669.1
7.7
-3.1
-18.6
-76.4
-38.0
310.3
-75.7
-27.2
-89.1
77.1
825
799
1,277
379
163
177
307
119
163
29
242
120
235
94
90
4
32
18
71
10
10
17
6
3
7
4,899
804
869
1,403
425
159
155
310
129
167
52
141
137
227
69
86
8
27
11
58
17
9
26
1
6
2
5,033
-2.5
8.8
9.9
12.1
-2.5
-12.4
1.0
8.4
2.5
79.3
-41.7
14.2
-3.4
-26.6
-4.4
100.0
-15.6
-38.9
-18.3
70.0
-10.0
52.9
-83.3
100.0
-71.4
2.7
Table of Contents
Europe
Print
Investments - Investments 2010 - Industry versus market statistics

Industry statistics
Country of private equity firm
Amounts in million
United Kingdom
France
Germany
Sweden
Spain
Switzerland
Netherlands
Italy
Norway
Poland
Belgium
Denmark
Finland
Portugal
Austria
Ukraine
Luxembourg
Romania
Ireland
Hungary
Czech Republic
Baltic countries
Greece
Bulgaria
Other CEE*
European total
Australasia
Canada
USA
Rest of the world
Rest of the world total
Total
Market statistics
Country of portfolio company
Amount
Amount
19,039
5,849
4,669
3,094
2,470
1,510
1,300
1,034
970
504
503
436
410
200
127
94
84
80
48
45
38
27
10
5
3
42,551
20
556
547
60
1,183
43,735
43.5
13.4
10.7
7.1
5.6
3.5
3.0
2.4
2.2
1.2
1.2
1.0
0.9
0.5
0.3
0.2
0.2
0.2
0.1
0.1
0.1
0.1
0.0
0.0
0.0
97.3
0.0
1.3
1.3
0.1
2.7
100.0
12,707
6,510
4,646
2,684
2,926
1,309
1,968
1,576
1,932
657
938
386
587
189
699
96
93
119
770
65
193
32
34
82
36
41,232
635
13
1,332
523
2,503
43,735
29.1
14.9
10.6
6.1
6.7
3.0
4.5
3.6
4.4
1.5
2.1
0.9
1.3
0.4
1.6
0.2
0.2
0.3
1.8
0.1
0.4
0.1
0.1
0.2
0.1
94.3
1.5
0.0
3.0
1.2
5.7
100.0
Table of Contents
Europe
Print
Investments - Investments from private equity firms outside Europe into European portfolio companies in 2010 Market statistics (by country of portfolio company)
2010
2010
Amounts in thousands /
Number of companies
Amount
Number
Baltics
Ex-Yugoslavia & Slovakia
France
Germany
Ireland
Italy
Netherlands
NON-Europe
Norway
Other Europe
Romania
Spain
Sweden
Switzerland
United Kingdom
European total
143
5,816
69,981
11,228
201,159
20,625
23,162
4,696
11,776
10,860
9,174
41,763
9,351
12,422
751,262
1,183,417
0.0
0.5
5.9
0.9
17.0
1.7
2.0
0.4
1.0
0.9
0.8
3.5
0.8
1.0
63.5
100.0
1
1
3
1
1
0
1
2
1
1
1
1
2
1
7
24
4.2
4.2
12.5
4.2
4.2
0.0
4.2
8.3
4.2
4.2
4.2
4.2
8.3
4.2
29.2
100.0
Table of Contents
Europe
Print
Investments - Industry statistics (by country of private equity firm)

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
147,849
2,056,650
1,920,573
4,125,071
4,501,736
688,234
1,854,462
12,850,599
24,020,102
0.6
8.6
8.0
17.2
18.7
2.9
7.7
53.5
100.0
389
1,814
1,190
3,279
784
148
177
621
4,899
7.6
35.4
23.2
66.2
15.3
2.9
3.5
12.1
100.0
121,607
1,862,213
1,769,986
3,753,806
6,231,592
490,711
1,896,888
30,178,274
42,551,271
0.3
4.4
4.2
8.8
14.6
1.2
4.5
70.9
100.0
365
1,713
1,046
3,066
1,012
127
139
754
5,033
7.1
33.2
20.3
60.6
19.6
2.5
2.7
14.6
100.0
206,800
2,447,253
1,964,176
653,065
3,124,738
1,900,259
424,739
2,928,962
1,795,668
1,814,996
2,178,908
3,584,220
75,043
648,013
273,260
24,020,102
2,722,605
0.9
10.2
8.2
2.7
13.0
7.9
1.8
12.2
7.5
7.6
9.1
14.9
0.3
2.7
1.1
100.0
11.3
40
614
416
127
627
832
73
386
216
340
87
873
18
82
168
4,899
1,277
0.8
12.5
8.5
2.6
12.8
17.0
1.5
7.9
4.4
6.9
1.8
17.8
0.4
1.7
3.4
100.0
26.1
213,538
3,615,569
3,923,611
1,269,099
4,686,686
3,665,547
525,994
8,671,760
3,827,769
1,504,445
2,421,233
5,891,597
197,859
2,106,169
30,394
42,551,271
3,372,004
0.5
8.5
9.2
3.0
11.0
8.6
1.2
20.4
9.0
3.5
5.7
13.8
0.5
4.9
0.1
100.0
8.0
45
576
473
147
621
837
104
490
254
349
99
885
18
109
26
5,033
1,245
0.9
11.4
9.4
2.9
12.3
16.6
2.1
9.7
5.0
6.9
2.0
17.6
0.4
2.2
0.5
100.0
24.7
15,140,956
8,879,146
24,020,102
63.0
37.0
100.0
3,333
1,869
4,899
64.1
35.9
100.0
27,890,626
14,660,645
42,551,271
65.5
34.5
100.0
3,473
1,811
5,033
65.7
34.3
100.0
12,002,875
11,407,581
50.0
47.5
2,003
2,727
39.0
53.1
19,078,662
23,008,992
44.8
54.1
2,247
2,940
43.0
56.3
609,646
24,020,102
15,342,674
2.5
100.0
63.9
410
4,899
2,388
8.0
100.0
48.7
463,617
42,551,271
34,892,795
1.1
100.0
82.0
37
5,033
2,807
0.7
100.0
55.8
22,745,947
16,574,490
6,171,457
1,274,155
24,020,102
94.7
69.0
25.7
5.3
100.0
4,681
4,182
499
218
4,899
95.6
85.4
10.2
4.4
100.0
40,064,070
31,004,019
9,060,051
2,487,201
42,551,271
94.2
72.9
21.3
5.8
100.0
4,804
4,343
461
229
5,033
95.5
86.3
9.2
4.5
100.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Business & industrial products
Business & industrial services
Chemicals & materials
Communications
Computer & consumer electronics
Construction
Consumer goods & retail
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
Initial vs follow-on
Initial for the company
Follow-on investment
for the company
Unknown
Total investment
Initial for the private equity firm
Geographic distribution
Within Europe
Domestic
Non-domestic
Outside Europe
Total investment
Table of Contents
Europe
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
2,436,763
6,165,257
2,497,154
1,751,426
12,850,599
19.0
48.0
19.4
13.6
100.0
500
126
11
4
621
78.0
19.7
1.7
0.6
100.0
2,980,582
11,671,959
8,190,578
7,335,155
30,178,274
9.9
38.7
27.1
24.3
100.0
520
238
35
16
754
64.3
29.4
4.3
2.0
100.0
Amount
Number of
companies
Amount
Number of
companies
22,042,240
1,786,389
191,473
24,020,102
91.8
7.4
0.8
100.0
4,308
575
268
4,899
83.6
11.2
5.2
100.0
40,538,532
1,781,736
231,003
42,551,271
95.3
4.2
0.5
100.0
4,489
594
224
5,033
84.6
11.2
4.2
100.0
Buyout investment size

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
84.4
15.6
100.0
-
71,164,505
-
73.4
26.6
100.0
0.1
16.2
15.3
2.9
13.8
8.9
2.2
15.4
2.3
3.3
10.7
2.9
6.0
100.0
18.5
0.3
8.0
16.0
24.3
5.0
70.7
100.0
60,034,182
11,130,323
52,227,976
18,936,529
71,164,505
78,525
11,494,242
10,920,336
2,055,674
9,848,836
6,297,012
1,554,292
10,958,633
1,655,576
2,376,655
7,638,459
2,047,618
4,238,647
71,164,505
13,142,551
197,704
5,666,756
11,389,936
17,254,396
3,573,674
50,336,435
71,164,505
Amount
2006
5.4
100.0
71.5
62.5
32.1
60.8
39.2
100.0
0.6
14.1
11.0
3.9
14.7
5.1
4.2
13.1
10.7
2.6
4.3
9.7
0.3
5.1
0.5
100.0
8.1
0.3
3.3
5.1
8.6
8.3
0.2
2.6
80.3
100.0
3,853,788
54,342,157
37,626,998
28,791,319
21,697,049
29,959,384
24,382,772
54,342,157
167,433
8,494,735
4,771,102
2,467,630
5,813,328
3,964,776
2,353,802
7,429,700
3,108,867
5,318,438
2,851,186
5,934,564
68,555
1,308,993
289,049
54,342,157
5,021,913
301,975
2,629,495
3,918,265
6,849,735
7,706,135
323,623
1,415,181
38,047,482
54,342,157
Amount
7.1
100.0
69.2
53.0
39.9
55.1
44.9
100.0
0.3
15.6
8.8
4.5
10.7
7.3
4.3
13.7
5.7
9.8
5.2
10.9
0.1
2.4
0.5
100.0
9.2
0.6
4.8
7.2
12.6
14.2
0.6
2.6
70.0
100.0
2008
609,646
24,020,102
15,342,674
12,002,875
11,407,581
15,140,956
8,879,146
24,020,102
206,800
2,447,253
1,964,176
653,065
3,124,738
1,900,259
424,739
2,928,962
1,795,668
1,814,996
2,178,908
3,584,220
75,043
648,013
273,260
24,020,102
2,722,605
147,849
2,056,650
1,920,573
4,125,071
4,501,736
688,234
1,854,462
12,850,599
24,020,102
Amount
2.5
100.0
63.9
50.0
47.5
63.0
37.0
100.0
0.9
10.2
8.2
2.7
13.0
7.9
1.8
12.2
7.5
7.6
9.1
14.9
0.3
2.7
1.1
100.0
11.3
0.6
8.6
8.0
17.2
18.7
2.9
7.7
53.5
100.0
2009
463,617
42,551,271
34,892,795
19,078,662
23,008,992
27,890,626
14,660,645
42,551,271
213,538
3,615,569
3,923,611
1,269,099
4,686,686
3,665,547
525,994
8,671,760
3,827,769
1,504,445
2,421,233
5,891,597
197,859
2,106,169
30,394
42,551,271
3,372,004
121,607
1,862,213
1,769,986
3,753,806
6,231,592
490,711
1,896,888
30,178,274
42,551,271
Amount
1.1
100.0
82.0
44.8
54.1
65.5
34.5
100.0
0.5
8.5
9.2
3.0
11.0
8.6
1.2
20.4
9.0
3.5
5.7
13.8
0.5
4.9
0.1
100.0
7.9
0.3
4.4
4.2
8.8
14.6
1.2
4.5
70.9
100.0
2010
8,848,013
264,330,788
139,557,835
165,049,825
90,432,950
169,122,262
95,208,526
264,330,788
1,131,195
36,260,464
29,544,711
9,265,134
34,082,489
19,487,146
7,900,904
39,425,851
16,493,432
12,140,764
12,959,975
30,072,719
593,251
9,809,914
5,162,838
264,330,788
30,084,208
966,046
14,585,408
22,660,050
38,211,504
24,406,791
1,643,578
10,632,447
189,436,468
264,330,788
Amount
3.3
100.0
52.8
62.4
34.2
64.0
36.0
100.0
0.4
13.7
11.2
3.5
12.9
7.4
3.0
14.9
6.2
4.6
4.9
11.4
0.2
3.7
2.0
100.0
11.4
0.4
5.5
8.6
14.5
9.2
0.6
4.0
71.7
100.0
5-year total
Table of Contents
3,920,962
72,252,753
51,695,368
45,142,788
23,189,004
43,903,319
28,349,433
72,252,753
464,899
10,208,665
7,965,485
2,819,666
10,608,902
3,659,552
3,042,077
9,436,796
7,761,128
1,847,309
3,131,993
7,023,879
251,794
3,699,120
331,487
72,252,753
5,825,135
196,912
2,370,294
3,661,289
6,228,495
5,967,328
141,010
1,892,243
58,023,678
72,252,753
Amount
2007

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
All Private Equity
Investments - Europe - Industry statistics (by country of private equity firm) - 5-year trend
Europe
Print
Independent
Captive
Public sector
Total investment
Investor type
All Private Equity
Small
Mid-market
Large
Mega
Total buyout
Buyout Deals
Within Europe
Domestic
Non-domestic
Outside Europe
Total investment
All Private Equity
58,293,861
12,521,426
349,218
71,164,505
4,785,382
18,584,754
7,500,497
19,465,802
50,336,435
67,742,921
47,723,882
20,019,039
3,421,584
71,164,505
Amount
81.9
17.6
0.5
100.0
9.5
36.9
14.9
38.7
100.0
95.2
67.1
28.1
4.8
100.0
2006
65,644,401
6,422,011
186,341
72,252,753
5,716,173
23,093,230
12,593,533
16,620,742
58,023,678
67,409,500
46,764,409
20,645,092
4,843,253
72,252,753
Amount
90.9
8.9
0.3
100.0
9.9
39.8
21.7
28.6
100.0
93.3
64.7
28.6
6.7
100.0
2007
50,102,498
4,119,936
119,722
54,342,157
4,305,542
17,149,363
6,664,210
9,928,367
38,047,482
51,390,041
38,508,150
12,881,891
2,952,116
54,342,157
Amount
92.2
7.6
0.2
100.0
11.3
45.1
17.5
26.1
100.0
94.6
70.9
23.7
5.4
100.0
2008
Investments - Europe - Industry statistics (by country of private equity firm) - 5-year trend
22,042,240
1,786,389
191,473
24,020,102
2,436,763
6,165,257
2,497,154
1,751,426
12,850,599
22,745,947
16,574,490
6,171,457
1,274,155
24,020,102
Amount
91.8
7.4
0.8
100.0
19.0
48.0
19.4
13.6
100.0
94.7
69.0
25.7
5.3
100.0
2009
40,538,532
1,781,736
231,003
42,551,271
2,980,582
11,671,959
8,190,578
7,335,155
30,178,274
40,064,070
31,004,019
9,060,051
2,487,201
42,551,271
Amount
95.3
4.2
0.5
100.0
9.9
38.7
27.1
24.3
100.0
94.2
72.9
21.3
5.8
100.0
2010
236,621,532
26,631,498
1,077,758
264,330,788
20,224,441
76,664,562
37,445,973
55,101,492
189,436,468
249,352,479
180,574,949
68,777,530
14,978,309
264,330,788
Amount
89.5
10.1
0.4
100.0
10.7
40.5
19.8
29.1
100.0
94.3
68.3
26.0
5.7
100.0
5-year total
Europe
Table of Contents
Print
44.8
54.1
1.1
100.0
82.0
463,617
42,551,271
34,892,795
65.5
34.5
100.0
0.5
8.5
9.2
3.0
11.0
8.6
1.2
20.4
9.0
3.5
5.7
13.8
0.5
4.9
0.1
100.0
7.9
0.3
4.4
4.2
8.8
14.6
1.2
4.5
70.9
100.0
19,078,662
23,008,992
27,890,626
14,660,645
42,551,271
213,538
3,615,569
3,923,611
1,269,099
4,686,686
3,665,547
525,994
8,671,760
3,827,769
1,504,445
2,421,233
5,891,597
197,859
2,106,169
30,394
42,551,271
3,372,004
121,607
1,862,213
1,769,986
3,753,806
6,231,592
490,711
1,896,888
30,178,274
42,551,271
Europe
Amount
0
127,236
98,976
67,691
59,545
65,967
61,270
127,236
0
39,884
10,775
1,132
24,250
18,202
0
1,885
4,000
5,100
0
15,689
0
6,320
0
127,236
22,454
5,869
5,506
17,524
28,899
27,974
7,496
5,325
57,543
127,236
Austria
Amount
3,171
27,417
20,482
11,015
13,232
24,929
2,488
27,417
0
516
0
0
4,319
1,897
4,600
9,468
0
1,000
0
529
0
5,088
0
27,417
5,450
0
3,852
889
4,741
4,571
0
3,200
14,906
27,417
Baltics
Amount
0
503,161
350,170
272,470
230,692
291,637
211,525
503,161
11,000
49,964
17,333
7,573
11,975
32,773
5,187
85,358
7,200
32,046
99,000
124,553
7,600
11,600
0
503,161
119,124
5,927
69,275
22,636
97,838
162,701
13,457
14,029
215,136
503,161
Belgium
Amount
0
4,558
2,000
2,000
2,558
4,558
0
4,558
0
0
0
0
2,253
1,075
0
1,230
0
0
0
0
0
0
0
4,558
3,328
0
3,328
0
3,328
1,230
0
0
0
4,558
Bulgaria
Amount
0
38,045
36,440
30,910
7,135
31,940
6,105
38,045
0
0
0
5,530
10,832
0
6,105
0
4,000
11,578
0
0
0
0
0
38,045
11,578
0
11,578
0
11,578
8,362
0
0
18,105
38,045
Czech Rep.
Amount
1,024
435,630
223,336
126,111
308,494
292,552
143,078
435,630
0
37,063
17,554
3,055
89,140
34,623
6,702
29,855
201
17,762
0
194,495
0
5,181
0
435,630
182,428
13,926
74,087
50,681
138,694
166,133
15,765
8,077
106,962
435,630
Denmark
Amount
0
409,562
290,547
241,567
167,995
231,452
178,110
409,562
37,174
59,475
47,867
7,845
25,335
31,764
16,491
15,453
11,690
48,393
960
47,941
150
59,024
0
409,562
45,313
5,350
54,416
36,521
96,287
86,861
23,064
9,063
194,287
409,562
Finland
Amount

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
All Private Equity
Investments - Investments 2010 - Industry statistics (by country of private equity firm)
Europe
Table of Contents
Print
Independent
Captive
Public sector
Total investment
Investor type
All Private Equity
Small
Mid-market
Large
Mega
Total buyout
Buyout Deals
Within Europe
Domestic
Non-domestic
Outside Europe
Total investment
All Private Equity
40,538,532
1,781,736
231,003
42,551,271
2,980,582
11,671,959
8,190,578
7,335,155
30,178,274
40,064,070
31,004,019
9,060,051
2,487,201
42,551,271
Europe
Amount
95.3
4.2
0.5
100.0
9.9
38.7
27.1
24.3
100.0
94.2
72.9
21.3
5.8
100.0
104,182
17,185
5,869
127,236
25,400
32,143
0
0
57,543
127,236
81,656
45,581
0
127,236
Austria
Amount
24,153
2,263
1,002
27,417
14,906
0
0
0
14,906
26,728
16,956
9,773
689
27,417
Baltics
Amount
490,897
12,264
0
503,161
61,539
153,597
0
0
215,136
488,010
234,596
253,414
15,151
503,161
Belgium
Amount
4,558
0
0
4,558
0
0
0
0
0
4,558
2,558
2,000
0
4,558
Bulgaria
Amount
38,045
0
0
38,045
18,105
0
0
0
18,105
38,045
36,513
1,532
0
38,045
Czech Rep.
Amount
382,291
40,199
13,141
435,630
36,099
70,863
0
0
106,962
388,250
241,672
146,578
47,379
435,630
Denmark
Amount
348,709
8,376
52,477
409,562
99,647
94,640
0
0
194,287
401,107
335,920
65,187
8,455
409,562
Finland
Amount
Europe
Table of Contents
Print
2,594,121
2,065,270
9,427
4,668,817
3,892,129
2,312
5,849,404
4,518,318
3,469,648
1,199,169
4,668,817
925
1,555,649
201,220
47,110
598,495
568,561
4,857
769,619
289,885
167,002
8,127
385,662
4,900
64,872
1,935
4,668,817
544,637
42,824
377,010
293,261
713,095
527,613
183,076
55,862
3,189,172
4,668,817
Germany
Amount
1,992,527
3,854,564
2,094,711
3,754,693
5,849,404
70,057
427,127
407,734
100,150
390,489
380,115
161,893
1,615,296
481,463
148,602
25,272
1,389,142
35,459
204,754
11,850
5,849,404
657,097
14,972
353,273
454,258
822,503
944,843
47,176
186,061
3,848,821
5,849,404
France
Amount
0
10,000
0
0
10,000
0
10,000
10,000
0
0
0
0
0
0
0
0
10,000
0
0
0
0
0
0
10,000
0
0
0
0
0
10,000
0
0
0
10,000
Greece
Amount
0
45,204
24,262
24,262
20,941
35,980
9,224
45,204
0
191
608
3,399
18,030
2,018
0
177
0
0
13,055
4,236
0
3,489
0
45,204
20,805
853
5,761
11,286
17,900
10,105
0
0
17,199
45,204
Hungary
Amount
0
48,055
30,865
27,345
20,711
4,241
43,814
48,055
0
150
120
175
10,052
8,596
0
0
544
770
0
12,625
0
15,024
0
48,055
29,915
1,250
20,912
5,090
27,252
1,854
3,925
0
15,024
48,055
Ireland
Amount
0
1,033,772
775,243
437,671
596,101
634,764
399,008
1,033,772
1,200
66,813
36,198
68,860
35,602
66,917
84,876
400,976
77,044
14,789
15,385
95,044
0
57,693
12,375
1,033,772
80,482
700
39,375
9,029
49,104
267,888
35,486
52,441
628,854
1,033,772
Italy
Amount
0
84,145
55,671
37,998
46,147
27,117
57,028
84,145
0
14,300
0
0
19,126
6,797
0
18,845
1,358
7,500
10,500
5,719
0
0
0
84,145
35,199
0
35,589
1,000
36,589
13,211
0
0
34,345
84,145
Luxembourg
Amount
8,571
1,300,427
1,081,934
940,138
351,717
1,010,852
289,575
1,300,427
22,657
100,265
199,230
171,497
74,790
67,158
32,859
303,906
26,846
16,471
108,452
158,058
350
15,355
2,534
1,300,427
95,692
1,025
105,463
55,635
162,123
203,029
33,801
193,002
708,473
1,300,427
Netherlands
Amount
40,388
970,265
456,008
284,695
645,182
707,004
263,261
970,265
5,964
81,891
40,373
1,442
139,567
85,947
233
79,640
9,813
160,869
3,583
303,273
0
57,357
313
970,265
117,754
3,281
96,611
65,935
165,827
114,170
11,850
5,542
672,877
970,265
Norway
Amount

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
All Private Equity
Europe
Table of Contents
Print
Independent
Captive
Public sector
Total investment
Investor type
All Private Equity
Small
Mid-market
Large
Mega
Total buyout
Buyout Deals
Within Europe
Domestic
Non-domestic
Outside Europe
Total investment
All Private Equity
5,290,607
546,402
12,395
5,849,404
999,923
1,696,421
724,804
427,673
3,848,821
5,747,336
5,287,686
459,650
102,068
5,849,404
France
Amount
4,532,063
128,656
8,099
4,668,817
211,325
1,493,198
440,260
1,044,388
3,189,172
4,601,728
3,685,439
916,289
67,089
4,668,817
Germany
Amount
10,000
0
0
10,000
0
0
0
0
0
10,000
10,000
0
0
10,000
Greece
Amount
45,204
0
0
45,204
17,199
0
0
0
17,199
45,204
41,996
3,208
0
45,204
Hungary
Amount
47,210
80
766
48,055
0
15,024
0
0
15,024
46,173
19,341
26,832
1,882
48,055
Ireland
Amount
1,033,397
375
0
1,033,772
111,679
353,798
163,377
0
628,854
1,032,172
1,020,738
11,434
1,600
1,033,772
Italy
Amount
84,145
0
0
84,145
34,345
0
0
0
34,345
71,252
10,500
60,752
12,893
84,145
Luxembourg
Amount
1,000,821
286,606
13,000
1,300,427
116,887
591,586
0
0
708,473
1,247,143
1,076,991
170,152
53,284
1,300,427
Netherlands
Amount
914,101
15,219
40,944
970,265
62,776
347,650
262,450
0
672,877
966,008
857,395
108,612
4,257
970,265
Norway
Amount
Europe
Table of Contents
Print
260
199,909
187,064
0
504,480
448,648
0
80,338
66,860
14,860
65,478
68,733
11,605
80,338
0
0
0
693
12,000
0
3,140
10,933
0
7,800
5,772
40,000
0
0
0
80,338
0
0
0
0
0
28,338
0
12,000
40,000
80,338
Romania
Amount
0
2,470,141
2,109,394
1,712,118
758,023
1,206,035
1,264,106
2,470,141
26,212
167,843
63,654
4,907
387,047
27,819
43,800
174,777
283,010
22,088
7,400
181,266
105,143
975,177
0
2,470,141
51,868
976
46,299
58,535
105,811
428,138
643
59,163
1,876,387
2,470,141
Spain
Amount
398,111
3,094,089
1,902,553
1,421,752
1,274,226
2,260,560
833,529
3,094,089
7,705
69,417
133,794
177,765
239,979
268,477
120,130
726,212
190,048
438,947
31,277
669,816
0
20,290
233
3,094,089
152,298
10,376
124,033
90,384
224,792
503,352
1,120
69,791
2,295,034
3,094,089
Sweden
Amount
0
1,509,769
1,329,873
985,555
524,214
1,167,147
342,622
1,509,769
0
121,725
5,860
1,155
890,979
32,906
645
126,584
0
21,767
0
308,147
0
0
0
1,509,769
422,922
7,198
118,746
79,790
205,734
69,963
469
37,400
1,196,203
1,509,769
Switzerland
Amount
0
94,286
68,247
66,280
28,006
76,846
17,440
94,286
28,230
0
0
0
34,269
0
0
26,418
0
0
5,369
0
0
0
0
94,286
0
0
0
0
0
91,170
0
0
3,116
94,286
Ukraine
Amount
352
19,039,206
16,920,419
7,167,121
11,871,733
13,721,613
5,317,592
19,039,206
1,588
755,530
2,677,353
592,241
1,587,443
2,011,977
33,444
4,103,735
2,397,189
366,375
2,015,331
1,913,996
43,184
538,666
1,154
19,039,206
756,802
7,045
263,634
492,250
762,929
2,426,636
107,277
1,161,788
14,580,576
19,039,206
UK
Amount
0
3,355
3,355
3,355
0
3,355
0
3,355
0
3,055
0
0
0
300
0
0
0
0
0
0
0
0
0
3,355
300
0
300
0
300
0
0
0
3,055
3,355
Other CEE*
Amount
Table of Contents
174,838
24,811
90,599
109,311
199,909
506
21,427
281
74,570
3,640
5,028
0
18,183
20,130
15,586
0
2,393
0
38,165
0
199,909
16,241
35
51,872
12,146
64,054
5,707
1,534
8,000
120,614
199,909
Portugal
Amount
442,262
62,219
368,386
136,095
504,480
320
43,286
63,659
0
77,074
12,597
1,034
153,211
13,349
0
71,749
39,014
1,073
28,114
0
504,480
318
0
1,293
13,137
14,430
127,742
4,573
16,145
341,590
504,480
Poland
Amount

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
All Private Equity
Europe
Print
Independent
Captive
Public sector
Total investment
Investor type
All Private Equity
Small
Mid-market
Large
Mega
Total buyout
Buyout Deals
Within Europe
Domestic
Non-domestic
Outside Europe
Total investment
All Private Equity
504,075
405
0
504,480
88,094
253,496
0
0
341,590
470,581
415,807
54,775
33,899
504,480
Poland
Amount
199,045
864
0
199,909
45,980
74,634
0
0
120,614
189,684
188,712
972
10,226
199,909
Portugal
Amount
77,198
3,140
0
80,338
0
40,000
0
0
40,000
75,678
75,678
0
4,660
80,338
Romania
Amount
2,294,600
150,408
25,133
2,470,141
101,239
348,529
793,619
633,000
1,876,387
2,452,290
2,445,575
6,715
17,851
2,470,141
Spain
Amount
2,969,178
66,733
58,178
3,094,089
199,186
1,010,409
718,784
366,655
2,295,034
3,050,559
2,176,541
874,018
43,530
3,094,089
Sweden
Amount
1,461,795
47,974
0
1,509,769
8,870
212,637
474,988
499,707
1,196,203
1,448,441
922,230
526,211
61,328
1,509,769
Switzerland
Amount
94,286
0
0
94,286
3,116
0
0
0
3,116
94,286
94,286
0
0
94,286
Ukraine
Amount
18,584,619
454,587
0
19,039,206
721,216
4,883,331
4,612,296
4,363,732
14,580,576
17,038,246
11,721,878
5,316,369
2,000,959
19,039,206
UK
Amount
3,355
0
0
3,355
3,055
0
0
0
3,055
3,355
3,355
0
0
3,355
Other CEE*
Amount
Europe
Table of Contents
Print
43.0
56.3
0.7
100.0
55.8
37
5,033
2,807
65.7
34.3
100.0
0.9
11.4
9.4
2.9
12.3
16.6
2.1
9.7
5.0
6.9
2.0
17.6
0.4
2.2
0.5
100.0
24.7
7.1
33.2
20.3
60.6
19.6
2.5
2.7
14.6
100.0
2,247
2,940
3,473
1,811
5,033
45
576
473
147
621
837
104
490
254
349
99
885
18
109
26
5,033
1,245
365
1,713
1,046
3,066
1,012
127
139
754
5,033
Europe
Number
0
86
41
33
56
71
20
86
0
22
9
5
8
11
0
3
2
3
0
21
0
2
0
86
15
34
6
15
55
14
4
2
12
86
Austria
Number
2
26
13
12
13
15
11
26
0
2
0
0
7
9
2
1
0
1
0
3
0
1
0
26
14
0
16
3
19
3
0
1
3
26
Baltics
Number
0
141
58
41
101
87
58
141
1
13
4
10
13
37
2
17
2
15
2
22
2
1
0
141
50
5
51
21
76
37
7
6
19
141
Belgium
Number
0
6
1
1
5
6
0
6
0
0
0
0
3
1
0
2
0
0
0
0
0
0
0
6
4
0
4
0
4
2
0
0
0
6
Bulgaria
Number
0
9
7
6
3
7
2
9
0
0
0
1
4
0
2
0
1
1
0
0
0
0
0
9
1
0
1
0
1
3
0
0
5
9
Czech Rep.
Number
4
137
45
32
110
94
56
137
0
5
4
3
11
22
2
11
1
14
0
63
0
1
0
137
83
20
59
36
111
13
5
1
7
137
Denmark
Number
0
227
84
69
164
141
104
227
6
46
15
2
20
54
7
11
8
19
2
31
1
5
0
227
89
20
117
19
155
33
12
3
28
227
Finland
Number

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
Number of companies
All Private Equity
Europe
Table of Contents
Print
Independent
Captive
Public sector
Total investment
Investor type
All Private Equity
Small
Mid-market
Large
Mega
Total buyout
Buyout Deals
Within Europe
Domestic
Non-domestic
Outside Europe
Total investment
Number of companies
All Private Equity
4,489
594
224
5,033
520
238
35
16
754
4,804
4,343
461
229
5,033
Europe
Number
84.6
11.2
4.2
100.0
64.3
29.4
4.3
2.0
100.0
95.5
86.3
9.2
4.5
100.0
45
10
34
86
11
2
0
0
12
86
75
11
0
86
Austria
Number
14
10
2
26
3
0
0
0
3
23
20
3
3
26
Baltics
Number
138
3
0
141
14
5
0
0
19
133
89
44
8
141
Belgium
Number
6
0
0
6
0
0
0
0
0
6
5
1
0
6
Bulgaria
Number
9
0
0
9
5
0
0
0
5
9
8
1
0
9
Czech Rep.
Number
99
20
26
137
6
1
0
0
7
115
85
30
22
137
Denmark
Number
206
9
23
227
25
4
0
0
28
223
208
15
4
227
Finland
Number
Europe
Table of Contents
Print
772
698
9
1,403
861
3
869
534
1,131
351
1,403
3
232
215
44
140
209
23
119
53
76
26
231
3
24
5
1,403
254
197
455
378
1,013
253
33
12
99
1,403
Germany
Number
388
502
496
412
869
11
79
83
14
128
134
36
118
58
44
9
125
5
21
4
869
195
17
206
235
448
216
11
22
187
869
France
Number
0
1
0
0
1
0
1
1
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
1
0
0
0
0
0
1
0
0
0
1
Greece
Number
0
17
13
13
4
17
1
17
0
1
1
1
3
2
0
1
0
0
2
4
0
2
0
17
5
1
7
3
11
4
0
0
2
17
Hungary
Number
0
58
25
22
39
9
52
58
0
1
1
1
9
23
0
0
2
3
0
17
0
1
0
58
47
4
40
9
53
2
3
0
1
58
Ireland
Number
0
129
71
54
76
88
43
129
1
8
11
6
11
5
8
27
14
7
1
15
0
7
8
129
28
1
36
8
45
42
12
6
26
129
Italy
Number
0
27
11
7
21
13
15
27
0
1
0
0
7
6
0
4
1
1
1
6
0
0
0
27
19
0
21
1
22
2
0
0
3
27
Luxembourg
Number
6
310
150
119
192
215
100
310
5
21
23
16
24
54
5
29
19
13
5
87
1
6
2
310
88
2
130
52
184
57
10
30
34
310
Netherlands
Number
5
167
62
44
128
85
102
167
5
13
6
4
18
32
1
2
2
49
4
26
0
4
1
167
81
13
92
33
132
9
7
6
14
167
Norway
Number

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
Number of companies
All Private Equity
Europe
Table of Contents
Print
Independent
Captive
Public sector
Total investment
Investor type
All Private Equity
Small
Mid-market
Large
Mega
Total buyout
Buyout Deals
Within Europe
Domestic
Non-domestic
Outside Europe
Total investment
Number of companies
All Private Equity
796
153
3
869
169
32
3
1
187
851
753
98
18
869
France
Number
1,283
133
20
1,403
61
38
2
2
99
1,353
1,286
67
50
1,403
Germany
Number
1
0
0
1
0
0
0
0
0
1
1
0
0
1
Greece
Number
17
0
0
17
2
0
0
0
2
17
16
1
0
17
Hungary
Number
55
1
5
58
0
1
0
0
1
56
45
11
2
58
Ireland
Number
129
1
0
129
15
11
1
0
26
128
123
5
1
129
Italy
Number
27
0
0
27
3
0
0
0
3
20
1
19
7
27
Luxembourg
Number
216
62
39
310
22
13
0
0
34
294
249
45
16
310
Netherlands
Number
148
18
19
167
6
9
1
0
14
163
150
13
4
167
Norway
Number
Europe
Table of Contents
Print
1
69
34
0
52
35
0
11
6
4
9
8
3
11
0
0
0
1
1
0
1
4
0
2
1
1
0
0
0
11
0
0
0
0
0
9
0
1
1
11
Romania
Number
0
159
111
92
71
109
50
159
4
23
9
4
31
16
2
16
13
6
1
26
2
6
0
159
29
8
43
35
86
42
2
6
24
159
Spain
Number
5
425
178
149
283
279
163
425
3
40
15
12
46
83
6
27
14
40
7
122
0
5
5
425
111
10
255
57
312
54
2
5
53
425
Sweden
Number
0
155
83
52
103
58
102
155
0
13
3
4
27
30
1
8
0
15
0
54
0
0
0
155
80
21
71
40
131
8
4
3
9
155
Switzerland
Number
0
8
6
5
4
5
3
8
1
0
0
0
1
0
0
3
0
0
3
0
0
0
0
8
0
0
0
0
0
7
0
0
1
8
Ukraine
Number
2
804
442
297
523
469
350
804
1
50
72
22
128
164
7
70
55
53
30
128
3
20
1
804
216
16
201
169
382
192
12
31
202
804
UK
Number
0
2
2
2
0
2
0
2
0
1
0
0
0
1
0
0
0
0
0
0
0
0
0
2
1
0
1
0
1
0
0
0
1
2
Other CEE*
Number
Table of Contents
32
41
36
35
69
3
8
2
5
3
9
0
14
5
7
0
9
0
4
0
69
10
1
37
6
44
7
2
1
17
69
Portugal
Number
33
20
41
11
52
1
5
2
0
8
3
1
11
5
0
7
6
1
2
0
52
2
0
6
5
11
20
2
3
18
52
Poland
Number

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
Number of companies
All Private Equity
Europe
Print
Independent
Captive
Public sector
Total investment
Investor type
All Private Equity
Small
Mid-market
Large
Mega
Total buyout
Buyout Deals
Within Europe
Domestic
Non-domestic
Outside Europe
Total investment
Number of companies
All Private Equity
50
2
0
52
11
7
0
0
18
50
40
10
2
52
Poland
Number
66
3
0
69
15
3
0
0
17
68
67
1
1
69
Portugal
Number
10
1
0
11
0
1
0
0
1
10
10
0
1
11
Romania
Number
137
16
12
159
13
9
3
1
24
152
146
6
7
159
Spain
Number
364
42
41
425
31
19
4
1
53
411
366
45
14
425
Sweden
Number
120
46
0
155
4
4
2
1
9
124
68
56
31
155
Switzerland
Number
8
0
0
8
1
0
0
0
1
8
8
0
0
8
Ukraine
Number
755
72
0
804
106
82
20
10
202
752
613
139
52
804
UK
Number
2
0
0
2
1
0
0
0
1
2
2
0
0
2
Other CEE*
Number
Europe
Table of Contents
Print
Table of Contents
Europe
Print
Investments - Europe - Market statistics (by country of portfolio company)

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
139,383
1,862,169
1,795,672
3,797,224
4,488,503
687,412
2,005,892
12,266,870
23,245,901
0.6
8.0
7.7
16.3
19.3
3.0
8.6
52.8
100.0
381
1,704
1,121
3,100
770
147
175
612
4,696
7.8
34.7
22.8
65.3
15.7
3.0
3.6
12.5
100.0
111,308
1,730,420
1,671,937
3,513,664
6,366,528
490,711
1,734,743
29,126,285
41,231,931
0.3
4.2
4.1
8.5
15.4
1.2
4.2
70.6
100.0
359
1,610
973
2,885
984
127
132
751
4,816
7.3
32.6
19.7
59.6
19.9
2.6
2.7
15.2
100.0
94,136
2,512,850
1,984,489
619,822
2,707,497
2,007,877
424,739
2,919,360
1,825,503
1,632,802
2,119,067
3,412,117
75,043
637,473
273,126
23,245,901
2,627,462
0.4
10.8
8.5
2.7
11.6
8.6
1.8
12.6
7.9
7.0
9.1
14.7
0.3
2.7
1.2
100.0
11.3
35
610
414
119
600
797
73
383
215
310
81
795
18
80
166
4,696
1,192
0.7
13.0
8.8
2.5
12.8
17.0
1.6
8.2
4.6
6.6
1.7
16.9
0.4
1.7
3.5
100.0
25.4
205,327
4,098,468
3,426,614
995,703
4,479,305
3,764,322
525,994
8,060,766
3,871,631
1,459,838
2,292,399
5,705,616
197,859
2,117,695
30,394
41,231,931
3,212,468
0.5
9.9
8.3
2.4
10.9
9.1
1.3
19.5
9.4
3.5
5.6
13.8
0.5
5.1
0.1
100.0
7.8
43
566
470
137
587
796
104
484
251
326
90
810
18
108
26
4,816
1,148
0.9
11.8
9.8
2.8
12.2
16.5
2.2
10.0
5.2
6.8
1.9
16.8
0.4
2.2
0.5
100.0
23.8
14,696,678
8,549,223
23,245,901
63.2
36.8
100.0
3,229
1,752
4,696
64.8
35.2
100.0
26,267,248
14,964,684
41,231,931
63.7
36.3
100.0
3,365
1,693
4,816
66.5
33.5
100.0
11,495,568
11,152,405
49.5
48.0
1,955
2,574
39.7
52.2
19,402,185
21,368,632
47.1
51.8
2,201
2,765
44.0
55.3
597,928
23,245,901
14,715,031
2.6
100.0
63.3
398
4,696
2,328
8.1
100.0
49.6
461,114
41,231,931
33,879,423
1.1
100.0
82.2
34
4,816
2,739
0.7
100.0
56.9
2,461,016
5,891,867
2,497,154
1,416,833
12,266,870
20.1
48.0
20.4
11.6
100.0
495
123
11
3
612
78.3
19.5
1.7
0.5
100.0
2,990,517
11,243,204
7,345,301
7,547,263
29,126,285
10.3
38.6
25.2
25.9
100.0
521
235
32
16
751
64.8
29.2
4.0
2.0
100.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Buyout Deals
Small
Mid-market
Large
Mega
Total buyout
47.1
51.8
1.1
100.0
82.2
461,114
41,231,931
33,879,423
63.7
36.3
100.0
0.5
9.9
8.3
2.4
10.9
9.1
1.3
19.5
9.4
3.5
5.6
13.8
0.5
5.1
0.1
100.0
7.8
0.3
4.2
4.1
8.5
15.4
1.2
4.2
70.6
100.0
19,402,185
21,368,632
26,267,248
14,964,684
41,231,931
205,327
4,098,468
3,426,614
995,703
4,479,305
3,764,322
525,994
8,060,766
3,871,631
1,459,838
2,292,399
5,705,616
197,859
2,117,695
30,394
41,231,931
3,212,468
111,308
1,730,420
1,671,937
3,513,664
6,366,528
490,711
1,734,743
29,126,285
41,231,931
Europe
Amount
0
698,500
662,996
631,661
66,840
660,830
37,670
698,500
0
622,895
2,503
1,132
7,806
19,153
0
821
4,000
5,100
0
33,391
0
1,700
0
698,500
25,583
5,869
11,761
23,800
41,430
26,910
7,496
6,870
615,795
698,500
Austria
Amount
3,171
32,346
24,086
24,086
5,089
29,259
3,087
32,346
5,924
516
0
0
3,986
8,533
4,600
0
1,500
1,670
0
529
0
5,088
0
32,346
5,459
786
3,685
732
5,203
17,005
1,500
3,200
5,438
32,346
Baltics
Amount
0
938,363
731,193
281,482
656,881
347,316
591,047
938,363
0
41,389
31,028
75,019
153,000
27,968
5,187
462,887
7,200
39,521
50,000
24,872
7,600
12,691
0
938,363
105,085
4,833
59,860
14,939
79,632
178,584
10,881
42,754
626,512
938,363
Belgium
Amount
0
82,238
75,000
75,000
7,238
82,238
0
82,238
320
0
0
0
4,613
1,075
0
1,230
0
0
0
75,000
0
0
0
82,238
1,328
0
1,328
0
1,328
80,910
0
0
0
82,238
Bulgaria
Amount
0
193,211
181,629
171,099
22,112
175,636
17,575
193,211
0
312
3,195
5,530
19,210
79,435
6,105
3,846
4,000
71,578
0
0
0
0
0
193,211
13,139
0
13,139
9,910
23,048
145,017
0
0
25,146
193,211
Czech Rep.
Amount
139
385,657
209,415
189,080
196,438
332,715
52,942
385,657
0
40,984
16,523
2,868
140,690
26,847
63,990
31,842
201
7,095
0
49,437
0
5,181
0
385,657
80,632
10,250
29,742
29,433
69,426
119,291
15,765
65,365
115,812
385,657
Denmark
Amount
0
586,538
275,694
249,474
337,064
437,975
148,563
586,538
14,700
63,475
55,181
300
175,341
35,184
24,352
28,655
11,690
18,982
960
98,544
150
59,024
0
586,538
41,347
5,350
61,453
31,535
98,338
229,237
20,064
18,988
219,911
586,538
Finland
Amount

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
All Private Equity
Investments - Investments 2010 - Market statistics (by country of portfolio company)
Europe
Table of Contents
Print
2,342,673
2,291,545
11,427
4,645,646
3,863,926
2,812
6,509,768
5,471,340
3,282,431
1,363,214
4,645,646
925
1,112,299
190,559
36,476
870,862
424,275
4,857
1,057,752
302,624
166,079
2,919
403,826
4,900
65,358
1,935
4,645,646
510,054
43,829
374,236
290,678
708,742
847,583
179,533
76,680
2,833,107
4,645,646
Germany
Amount
2,131,082
4,375,874
2,859,568
3,650,199
6,509,768
81,057
450,883
419,965
42,194
279,466
440,750
145,515
2,205,648
453,478
127,635
25,292
1,586,518
35,459
204,057
11,850
6,509,768
742,651
14,002
290,422
436,374
740,798
863,177
49,452
61,506
4,794,835
6,509,768
France
Amount
0
34,130
10,030
0
34,130
24,130
10,000
34,130
0
0
0
0
0
0
0
0
34,130
0
0
0
0
0
0
34,130
0
0
0
0
0
20,030
0
14,100
0
34,130
Greece
Amount
0
65,046
47,312
47,312
17,733
55,822
9,224
65,046
0
191
608
3,399
14,822
2,018
0
177
0
0
36,105
4,236
0
3,489
0
65,046
17,597
853
5,761
11,286
17,900
6,897
0
0
40,249
65,046
Hungary
Amount
0
769,596
726,418
560,341
209,255
232,654
536,942
769,596
0
150
120
175
29,446
80,864
0
3,871
544
770
507,349
146,309
0
0
0
769,596
35,773
1,250
25,134
17,206
43,590
507,349
625
17,371
200,662
769,596
Ireland
Amount
0
1,575,634
1,287,488
549,930
1,025,704
656,501
919,133
1,575,634
1,200
109,249
36,198
75,155
64,703
469,588
94,493
430,064
77,044
24,192
15,385
108,295
0
57,693
12,375
1,575,634
117,895
700
47,828
17,389
65,917
300,556
35,486
52,441
1,121,235
1,575,634
Italy
Amount
0
92,532
88,281
61,581
30,951
77,450
15,082
92,532
0
0
23,700
0
6,081
0
645
1,118
0
0
60,250
738
0
0
0
92,532
2,081
0
2,081
645
2,726
6,606
0
0
83,200
92,532
Luxembourg
Amount
3,570
1,968,361
1,504,007
958,481
1,006,311
1,547,841
420,521
1,968,361
22,657
204,669
131,629
228,068
75,467
233,596
32,859
367,139
332,384
94,785
117,997
103,324
350
20,905
2,534
1,968,361
351,840
1,609
99,143
47,463
148,215
143,840
43,645
282,110
1,350,552
1,968,361
Netherlands
Amount
40,388
1,931,589
1,276,279
570,890
1,320,311
1,056,063
875,526
1,931,589
5,964
89,559
40,373
1,483
140,548
763,695
233
238,034
9,813
196,070
167
376,204
0
69,133
313
1,931,589
111,716
3,281
84,764
84,511
172,555
131,147
11,850
5,542
1,610,496
1,931,589
Norway
Amount

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
All Private Equity
Europe
Table of Contents
Print
260
188,712
175,866
0
656,754
614,585
0
119,138
84,940
32,940
86,198
112,193
6,945
119,138
9,320
0
3,012
693
13,904
0
3,140
6,273
0
16,974
12,637
40,000
3,185
10,000
0
119,138
0
0
1,904
10,050
11,954
45,184
0
12,000
50,000
119,138
Romania
Amount
0
2,926,064
2,479,665
1,781,316
1,144,748
1,467,238
1,458,826
2,926,064
26,819
167,910
63,504
4,907
573,539
40,425
43,800
215,277
278,843
22,088
7,400
182,232
105,143
1,194,177
0
2,926,064
94,802
976
50,631
65,120
116,728
481,707
643
229,167
2,097,819
2,926,064
Spain
Amount
398,111
2,684,301
1,805,126
912,105
1,374,085
1,653,066
1,031,235
2,684,301
7,705
59,819
123,927
187,056
82,099
183,026
61,741
336,734
274,917
410,763
22,925
913,065
0
20,290
233
2,684,301
199,657
4,603
127,427
101,951
233,980
343,362
1,120
2,303
2,103,536
2,684,301
Sweden
Amount
0
1,309,086
1,127,928
950,313
358,772
991,238
317,848
1,309,086
0
79,561
77,095
323
797,356
17,708
0
166,404
15,246
7,406
0
147,987
0
0
0
1,309,086
170,148
5,008
109,535
46,198
160,741
196,649
6,193
5,091
940,411
1,309,086
Switzerland
Amount
0
95,827
68,247
66,280
29,547
78,387
17,440
95,827
28,230
0
0
0
34,269
0
0
26,418
0
0
6,910
0
0
0
0
95,827
0
0
0
0
0
92,711
0
0
3,116
95,827
Ukraine
Amount
1,235
12,707,187
11,056,600
6,018,291
6,687,661
9,470,547
3,236,640
12,707,187
0
988,124
2,146,566
244,155
914,872
898,767
33,444
2,177,336
1,952,398
243,771
1,374,268
1,369,702
40,000
322,630
1,154
12,707,187
575,840
8,075
277,121
428,395
713,591
1,449,408
101,852
809,296
9,633,040
12,707,187
UK
Amount
0
35,708
31,371
19,171
16,537
19,892
15,816
35,708
0
3,055
0
12,200
4,337
300
0
5,816
0
0
10,000
0
0
0
0
35,708
3,508
0
300
1,129
1,429
13,208
0
5,816
15,255
35,708
Other CEE*
Amount
Table of Contents
173,866
14,585
90,599
98,113
188,712
506
20,455
281
74,570
3,640
5,028
0
18,183
20,130
5,360
0
2,393
0
38,165
0
188,712
6,015
35
51,872
1,921
53,828
5,707
1,534
8,000
119,642
188,712
Portugal
Amount
603,731
53,023
525,659
131,095
656,754
0
42,975
60,647
0
69,246
6,087
1,034
275,241
91,490
0
41,834
39,014
1,073
28,114
0
656,754
318
0
1,293
1,272
2,565
114,454
3,073
16,145
520,517
656,754
Poland
Amount

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
All Private Equity
Europe
Print
Small
Mid-market
Large
Mega
Total buyout
96,416
274,101
150,000
0
520,517
45,008
74,634
0
0
119,642
Portugal
Amount
Poland
Amount
231,330
1,711,518
440,260
450,000
2,833,107
Germany
Amount
10.3
38.6
25.2
25.9
100.0
1,012,450
1,838,063
916,649
1,027,673
4,794,835
France
Amount
2,990,517
11,243,204
7,345,301
7,547,263
29,126,285
Europe
Amount
Small
Mid-market
Large
Mega
Total buyout
Small
Mid-market
Large
Mega
Total buyout
Buyout Deals
10,000
40,000
0
0
50,000
Romania
Amount
0
0
0
0
0
Greece
Amount
4,807
16,600
0
594,388
615,795
Austria
Amount
108,671
363,529
992,619
633,000
2,097,819
Spain
Amount
17,199
23,050
0
0
40,249
Hungary
Amount
5,438
0
0
0
5,438
Baltics
Amount
171,900
986,835
578,146
366,655
2,103,536
Sweden
Amount
0
200,662
0
0
200,662
Ireland
Amount
43,994
182,518
400,000
0
626,512
Belgium
Amount
18,201
139,360
283,143
499,707
940,411
Switzerland
Amount
129,191
663,447
328,598
0
1,121,235
Italy
Amount
0
0
0
0
0
Bulgaria
Amount
3,116
0
0
0
3,116
Ukraine
Amount
10,500
72,700
0
0
83,200
Luxembourg
Amount
25,146
0
0
0
25,146
Czech Rep.
Amount
637,872
3,086,610
2,800,649
3,107,910
9,633,040
UK
Amount
151,583
893,431
0
305,538
1,350,552
Netherlands
Amount
44,949
70,863
0
0
115,812
Denmark
Amount
15,255
0
0
0
15,255
Other CEE*
Amount
87,396
505,470
455,238
562,392
1,610,496
Norway
Amount
120,096
99,815
0
0
219,911
Finland
Amount
Europe
Table of Contents
Print
44.0
55.3
0.7
100.0
56.9
34
4,816
2,739
66.5
33.5
100.0
0.9
11.8
9.8
2.8
12.2
16.5
2.2
10.0
5.2
6.8
1.9
16.8
0.4
2.2
0.5
100.0
23.8
7.3
32.6
19.7
59.6
19.9
2.6
2.7
15.2
100.0
2,201
2,765
3,365
1,693
4,816
43
566
470
137
587
796
104
484
251
326
90
810
18
108
26
4,816
1,148
359
1,610
973
2,885
984
127
132
751
4,816
Europe
Number
0
89
38
32
61
75
18
89
0
24
7
5
6
11
0
2
2
3
0
28
0
1
0
89
18
34
10
19
62
13
4
2
9
89
Austria
Number
2
26
15
15
9
17
9
26
2
2
0
0
5
8
2
0
1
2
0
3
0
1
0
26
12
1
13
2
16
6
1
1
2
26
Baltics
Number
0
105
48
36
70
68
41
105
0
11
4
9
16
22
2
15
2
10
1
9
2
2
0
105
36
4
37
7
48
33
6
7
16
105
Belgium
Number
0
8
1
1
7
8
0
8
1
0
0
0
3
1
0
2
0
0
0
1
0
0
0
8
3
0
3
0
3
5
0
0
0
8
Bulgaria
Number
0
15
10
8
7
11
4
15
0
1
1
1
4
2
2
1
1
2
0
0
0
0
0
15
2
0
2
1
3
5
0
0
7
15
Czech Rep.
Number
2
97
35
26
74
80
27
97
0
6
2
2
12
16
3
12
1
9
0
33
0
1
0
97
51
15
36
21
67
13
5
2
10
97
Denmark
Number
0
224
80
70
160
145
97
224
2
46
16
1
18
52
8
12
8
14
2
39
1
5
0
224
82
20
117
17
153
31
11
3
29
224
Finland
Number

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
Number of companies
All Private Equity
Europe
Table of Contents
Print
768
638
10
1,342
862
4
777
510
1,107
319
1,342
3
233
217
40
142
189
23
126
52
71
14
201
3
23
5
1,342
218
197
416
349
947
247
36
16
102
1,342
Germany
Number
380
417
465
348
777
12
74
81
10
104
114
34
115
58
40
10
96
5
20
4
777
137
16
163
204
372
205
11
19
184
777
France
Number
0
2
1
0
2
2
1
2
0
0
0
0
0
0
0
0
2
0
0
0
0
0
0
2
0
0
0
0
0
1
0
1
0
2
Greece
Number
0
17
14
14
3
17
1
17
0
1
1
1
2
2
0
1
0
0
3
4
0
2
0
17
4
1
7
3
11
3
0
0
3
17
Hungary
Number
0
60
27
19
42
21
44
60
0
1
1
1
12
26
0
1
2
3
1
12
0
0
0
60
40
4
38
11
52
1
2
2
3
60
Ireland
Number
0
137
75
60
78
96
44
137
1
10
11
7
11
6
8
28
14
8
1
17
0
7
8
137
26
1
34
12
47
43
12
6
31
137
Italy
Number
0
9
4
2
7
5
5
9
0
0
1
0
2
0
1
1
0
0
3
1
0
0
0
9
1
0
1
1
2
5
0
0
2
9
Luxembourg
Number
2
281
141
111
176
216
72
281
5
22
22
14
26
55
5
29
20
13
6
54
1
7
2
281
75
3
105
44
152
54
10
28
44
281
Netherlands
Number
5
163
70
48
120
87
95
163
5
13
6
5
17
30
1
5
2
47
3
24
0
4
1
163
72
13
83
31
121
10
7
6
20
163
Norway
Number

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
Number of companies
All Private Equity
Europe
Table of Contents
Print
1
67
32
0
44
33
0
17
9
7
13
15
2
17
1
0
1
1
2
0
1
3
0
3
2
1
1
1
0
17
0
0
1
2
3
11
0
1
2
17
Romania
Number
0
160
109
89
75
111
53
160
4
23
8
4
30
20
2
15
12
6
1
26
2
7
0
160
30
8
42
35
84
40
2
10
27
160
Spain
Number
5
390
168
132
268
258
151
390
3
38
14
12
47
81
4
20
14
37
5
105
0
5
5
390
109
9
241
54
293
46
2
3
48
390
Sweden
Number
0
100
57
40
62
57
50
100
0
12
4
2
12
20
0
7
1
4
0
38
0
0
0
100
52
18
40
15
72
13
5
2
8
100
Switzerland
Number
0
9
6
5
5
6
3
9
1
0
0
0
1
0
0
3
0
0
4
0
0
0
0
9
0
0
0
0
0
8
0
0
1
9
Ukraine
Number
3
670
389
272
414
423
264
670
0
37
70
16
103
129
7
60
50
48
28
103
2
16
1
670
167
14
177
136
323
167
10
18
167
670
UK
Number
0
7
5
4
3
5
2
7
0
1
0
1
2
1
0
1
0
0
1
0
0
0
0
7
2
0
1
1
2
2
0
1
2
7
Other CEE*
Number
Table of Contents
31
40
36
33
67
3
7
2
5
3
9
0
14
5
6
0
9
0
4
0
67
9
1
37
5
43
7
2
1
16
67
Portugal
Number
31
14
34
10
44
0
4
1
0
7
2
1
11
4
0
5
6
1
2
0
44
2
0
6
3
9
15
1
3
18
44
Poland
Number

for the company
Unknown
Total investment
No syndication
Syndication
Total investment
Syndication
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Stage focus
Number of companies
All Private Equity
Europe
Print
Small
Mid-market
Large
Mega
Total buyout
Number of companies
Small
Mid-market
Large
Mega
Total buyout
Number of companies
Small
Mid-market
Large
Mega
Total buyout
Number of companies
Buyout Deals
14
3
0
0
16
Portugal
Number
Poland
Number
12
6
1
0
18
62
42
2
1
102
Germany
Number
64.8
29.2
4.0
2.0
100.0
165
33
4
2
184
France
Number
521
235
32
16
751
Europe
Number
1
1
0
0
2
Romania
Number
0
0
0
0
0
Greece
Number
8
1
0
1
9
Austria
Number
16
10
4
1
27
Spain
Number
2
1
0
0
3
Hungary
Number
2
0
0
0
2
Baltics
Number
30
17
2
1
48
Sweden
Number
0
3
0
0
3
Ireland
Number
13
3
1
0
16
Belgium
Number
3
4
1
1
8
Switzerland
Number
17
14
2
0
31
Italy
Number
0
0
0
0
0
Bulgaria
Number
1
0
0
0
1
Ukraine
Number
1
2
0
0
2
Luxembourg
Number
7
0
0
0
7
Czech Rep.
Number
93
63
13
7
167
UK
Number
29
15
0
1
44
Netherlands
Number
9
1
0
0
10
Denmark
Number
2
0
0
0
2
Other CEE*
Number
8
12
2
1
20
Norway
Number
26
4
0
0
29
Finland
Number
Europe
Table of Contents
Print
Table of Contents
Europe
Print
Investments - Europe - Market statistics (by country of portfolio company)

Venture Deals
2009
2010
Amount
Number of
companies
Amount
Number of
companies
19,794
275,709
105,328
72,922
658,454
698,224
13,257
200,050
118,324
453,731
34,720
1,066,608
6,589
22,793
50,723
3,797,224
1,688,600
0.5
7.3
2.8
1.9
17.3
18.4
0.3
5.3
3.1
11.9
0.9
28.1
0.2
0.6
1.3
100.0
44.5
20
313
228
79
458
659
28
157
88
238
26
673
9
32
92
3,100
1,065
0.6
10.1
7.4
2.5
14.8
21.3
0.9
5.1
2.8
7.7
0.8
21.7
0.3
1.0
3.0
100.0
34.4
14,975
256,142
124,370
88,671
528,278
711,789
23,467
142,911
94,687
377,385
40,354
1,055,664
12,024
39,855
3,093
3,513,664
1,658,581
0.4
7.3
3.5
2.5
15.0
20.3
0.7
4.1
2.7
10.7
1.1
30.0
0.3
1.1
0.1
100.0
47.2
18
290
245
85
420
614
24
145
97
224
23
651
8
29
12
2,885
1,008
0.6
10.1
8.5
2.9
14.6
21.3
0.8
5.0
3.4
7.8
0.8
22.6
0.3
1.0
0.4
100.0
34.9
74,342
2,237,142
1,879,161
546,900
2,049,043
1,309,654
411,483
2,719,311
1,707,178
1,179,070
2,084,348
2,345,510
68,454
614,680
222,403
19,448,677
938,862
0.4
11.5
9.7
2.8
10.5
6.7
2.1
14.0
8.8
6.1
10.7
12.1
0.4
3.2
1.1
100.0
4.8
17
303
189
41
154
148
45
227
130
75
55
137
10
48
75
1,654
151
1.0
18.3
11.4
2.5
9.3
8.9
2.7
13.7
7.9
4.5
3.3
8.3
0.6
2.9
4.5
100.0
9.1
190,352
3,842,326
3,302,244
907,032
3,951,027
3,052,533
502,527
7,917,855
3,776,944
1,082,454
2,252,045
4,649,952
185,836
2,077,840
27,301
37,718,267
1,553,887
0.5
10.2
8.8
2.4
10.5
8.1
1.3
21.0
10.0
2.9
6.0
12.3
0.5
5.5
0.1
100.0
4.1
25
276
227
53
171
189
80
340
156
102
68
162
10
81
14
1,954
146
1.3
14.1
11.6
2.7
8.8
9.7
4.1
17.4
8.0
5.2
3.5
8.3
0.5
4.1
0.7
100.0
7.5
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
190,352
3,842,326
3,302,244
907,032
3,951,027
3,052,533
502,527
7,917,855
3,776,944
1,082,454
2,252,045
4,649,952
185,836
2,077,840
27,301
37,718,267
1,553,887
14,975
256,142
124,370
88,671
528,278
711,789
23,467
142,911
94,687
377,385
40,354
1,055,664
12,024
39,855
3,093
3,513,664
1,658,581
Europe
Amount
0.5
10.2
8.8
2.4
10.5
8.1
1.3
21.0
10.0
2.9
6.0
12.3
0.5
5.5
0.1
100.0
4.1
0.4
7.3
3.5
2.5
15.0
20.3
0.7
4.1
2.7
10.7
1.1
30.0
0.3
1.1
0.1
100.0
47.2
0
615,645
1,863
299
6,331
12,016
0
821
4,000
3,300
0
11,096
0
1,700
0
657,071
9,777
0
7,250
640
833
1,475
7,137
0
0
0
1,800
0
22,295
0
0
0
41,430
15,807
Austria
Amount
5,924
350
0
0
3,170
6,510
4,600
0
1,500
0
0
1
0
5,088
0
27,143
1,401
0
166
0
0
816
2,023
0
0
0
1,670
0
528
0
0
0
5,203
4,059
Baltics
Amount
0
34,319
24,028
70,683
148,527
10,700
2,400
460,532
7,000
26,573
50,000
3,678
7,600
12,691
0
858,731
56,331
0
7,070
7,000
4,336
4,473
17,268
2,787
2,355
200
12,948
0
21,194
0
0
0
79,632
48,754
Belgium
Amount
320
0
0
0
4,360
0
0
1,230
0
0
0
75,000
0
0
0
80,910
0
0
0
0
0
253
1,075
0
0
0
0
0
0
0
0
0
1,328
1,328
Bulgaria
Amount
0
312
3,195
5,530
9,300
77,875
6,105
3,846
4,000
60,000
0
0
0
0
0
170,163
0
0
0
0
0
9,910
1,560
0
0
0
11,578
0
0
0
0
0
23,048
13,139
Czech Rep.
Amount
0
40,169
16,523
0
133,865
15,077
63,990
30,795
0
2,556
0
8,077
0
5,181
0
316,231
28,909
0
815
0
2,868
6,826
11,770
0
1,046
201
4,539
0
41,360
0
0
0
69,426
51,723
Denmark
Amount
13,750
44,874
53,474
0
162,914
7,033
22,172
27,604
11,260
8,295
960
76,841
0
59,024
0
488,200
896
950
18,601
1,708
300
12,427
28,151
2,180
1,051
430
10,687
0
21,703
150
0
0
98,338
40,451
Finland
Amount
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Buyout & growth deals
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Venture Deals
Europe
Table of Contents
Print
78,190
406,365
396,929
40,694
150,338
289,036
136,966
2,153,760
416,887
77,976
20,220
1,360,065
30,020
200,274
11,250
5,768,970
493,066
2,867
44,518
23,035
1,500
129,128
151,714
8,549
51,888
36,591
49,659
5,072
226,454
5,439
3,783
600
740,798
249,584
France
Amount
0
1,032,712
124,496
24,809
763,659
310,680
2,931
1,022,123
293,411
127,326
2,088
177,838
2,000
52,631
200
3,936,903
232,870
925
79,587
66,063
11,667
107,203
113,595
1,926
35,629
9,213
38,753
831
225,988
2,900
12,728
1,735
708,742
277,184
Germany
Amount
0
0
0
0
0
0
0
0
34,130
0
0
0
0
0
0
34,130
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Amount
0
191
0
3,399
14,144
0
0
0
0
0
26,105
0
0
3,307
0
47,145
14,144
0
0
608
0
678
2,018
0
177
0
0
10,000
4,236
0
182
0
17,900
3,453
Hungary
Amount
0
0
0
0
13,500
65,771
0
3,871
0
0
507,349
135,516
0
0
0
726,006
625
0
150
120
175
15,946
15,093
0
0
544
770
0
10,793
0
0
0
43,590
35,148
Ireland
Amount
0
105,049
30,598
74,655
60,968
467,897
92,733
424,064
74,245
13,700
15,385
83,715
0
54,333
12,375
1,509,718
84,555
1,200
4,200
5,600
500
3,735
1,691
1,760
6,000
2,799
10,492
0
24,580
0
3,360
0
65,917
33,340
Italy
Amount
0
0
23,700
0
4,000
0
0
1,118
0
0
60,250
738
0
0
0
89,806
0
0
0
0
0
2,081
0
645
0
0
0
0
0
0
0
0
2,726
2,081
Luxembourg
Amount
22,352
202,049
128,557
226,597
73,167
182,685
32,859
361,515
329,499
78,900
116,850
42,367
0
20,741
2,009
1,820,146
244,768
305
2,620
3,072
1,471
2,300
50,911
0
5,624
2,885
15,885
1,147
60,957
350
164
525
148,215
107,073
Netherlands
Amount
0
74,969
34,664
0
129,117
724,998
233
238,034
7,904
131,076
42
365,970
0
51,713
313
1,759,034
27,954
5,964
14,590
5,709
1,483
11,431
38,696
0
0
1,909
64,993
125
10,234
0
17,420
0
172,555
83,762
Norway
Amount
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Venture Deals
Europe
Table of Contents
Print
0
42,975
60,647
0
68,318
6,013
1,034
275,241
90,788
0
41,741
38,245
1,073
28,114
0
654,189
0
0
0
0
0
927
74
0
0
702
0
93
769
0
0
0
2,565
318
Poland
Amount
260
19,367
191
36,023
0
2,810
0
17,812
20,100
0
0
155
0
38,165
0
134,883
0
246
1,088
91
38,547
3,640
2,218
0
371
30
5,360
0
2,238
0
0
0
53,828
6,015
Portugal
Amount
9,320
0
3,012
693
12,000
0
3,140
6,273
0
16,974
5,772
40,000
0
10,000
0
107,184
0
0
0
0
0
1,904
0
0
0
0
0
6,865
0
3,185
0
0
11,954
0
Romania
Amount
24,819
153,221
62,604
3,424
545,616
14,703
43,800
207,927
273,178
17,459
7,400
157,066
105,143
1,192,977
0
2,809,336
53,052
2,000
14,689
900
1,483
27,923
25,722
0
7,350
5,665
4,629
0
25,166
0
1,200
0
116,728
41,750
Spain
Amount
7,187
48,571
122,810
180,545
53,497
94,946
61,741
333,858
274,130
381,626
19,306
852,664
0
19,441
0
2,450,321
73,134
518
11,249
1,117
6,511
28,602
88,080
0
2,876
786
29,137
3,619
60,401
0
849
233
233,980
126,523
Sweden
Amount
0
79,354
77,095
0
791,242
65
0
161,614
15,246
3,751
0
19,978
0
0
0
1,148,344
41,589
0
207
0
323
6,114
17,643
0
4,790
0
3,656
0
128,009
0
0
0
160,741
128,559
Switzerland
Amount
28,230
0
0
0
34,269
0
0
26,418
0
0
6,910
0
0
0
0
95,827
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Ukraine
Amount
0
938,781
2,137,860
227,481
765,515
763,718
27,823
2,153,583
1,919,667
132,943
1,361,667
1,200,942
40,000
322,462
1,154
11,993,596
187,607
0
49,343
8,707
16,674
149,357
135,049
5,620
23,753
32,731
110,828
12,601
168,760
0
168
0
713,591
388,232
UK
Amount
0
3,055
0
12,200
3,208
0
0
5,816
0
0
10,000
0
0
0
0
34,279
3,208
0
0
0
0
1,129
300
0
0
0
0
0
0
0
0
0
1,429
300
Other CEE*
Amount
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Venture Deals
Europe
Table of Contents
Print
25
276
227
53
171
189
80
340
156
102
68
162
10
81
14
1,954
146
18
290
245
85
420
614
24
145
97
224
23
651
8
29
12
2,885
1,008
Europe
Number
1.3
14.1
11.6
2.7
8.8
9.7
4.1
17.4
8.0
5.2
3.5
8.3
0.5
4.1
0.7
100.0
7.5
0.6
10.1
8.5
2.9
14.6
21.3
0.8
5.0
3.4
7.8
0.8
22.6
0.3
1.0
0.4
100.0
34.9
0
5
2
1
4
6
0
2
2
2
0
3
0
1
0
28
7
0
19
5
4
3
5
0
0
0
1
0
25
0
0
0
62
11
Austria
Number
2
1
0
0
1
1
2
0
1
0
0
1
0
1
0
10
2
0
1
0
0
4
7
0
0
0
2
0
2
0
0
0
16
10
Baltics
Number
0
6
3
4
8
14
1
9
1
5
1
2
2
2
0
58
13
0
5
1
5
8
8
1
6
1
5
0
8
0
0
0
48
24
Belgium
Number
1
0
0
0
1
0
0
2
0
0
0
1
0
0
0
5
0
0
0
0
0
2
1
0
0
0
0
0
0
0
0
0
3
3
Bulgaria
Number
0
1
1
1
3
1
2
1
1
1
0
0
0
0
0
12
0
0
0
0
0
1
1
0
0
0
1
0
0
0
0
0
3
2
Czech Rep.
Number
0
4
2
0
7
2
3
9
0
1
0
1
0
1
0
30
6
0
2
0
2
5
14
0
3
1
8
0
32
0
0
0
67
45
Denmark
Number
1
21
6
0
3
3
7
8
6
3
2
6
0
5
0
71
2
1
25
10
1
15
49
1
4
2
11
0
33
1
0
0
153
80
Finland
Number
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Number of companies
Venture Deals
Europe
Table of Contents
Print
10
41
64
7
36
37
29
80
37
17
5
28
2
17
2
412
30
2
33
18
3
68
80
5
35
22
23
5
70
3
3
2
372
109
France
Number
0
110
45
11
25
31
11
68
19
29
12
26
1
9
1
398
23
3
123
172
29
118
159
12
58
33
42
2
175
2
15
4
947
196
Germany
Number
0
0
0
0
0
0
0
0
2
0
0
0
0
0
0
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Number
0
1
0
1
1
0
0
0
0
0
2
0
0
1
0
6
1
0
0
1
0
1
2
0
1
0
0
1
4
0
1
0
11
3
Hungary
Number
0
0
0
0
1
3
0
1
0
0
1
2
0
0
0
8
2
0
1
1
1
11
23
0
0
2
3
0
10
0
0
0
52
38
Ireland
Number
0
7
7
6
5
5
6
25
11
2
1
2
0
5
8
90
4
1
3
4
1
6
1
2
3
3
6
0
15
0
2
0
47
22
Italy
Number
0
0
1
0
1
0
0
1
0
0
3
1
0
0
0
7
0
0
0
0
0
1
0
1
0
0
0
0
0
0
0
0
2
1
Luxembourg
Number
3
15
14
8
10
17
5
23
15
3
3
9
0
6
1
132
10
2
7
8
6
16
38
0
7
6
10
3
45
1
2
1
152
65
Netherlands
Number
0
5
3
0
3
6
1
5
1
10
2
3
0
3
1
43
4
5
8
3
5
14
24
0
0
1
37
2
21
0
1
0
121
68
Norway
Number
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Number of companies
Venture Deals
Europe
Table of Contents
Print
0
4
1
0
3
1
1
11
3
0
4
4
1
2
0
35
0
0
0
0
0
4
1
0
0
1
0
1
2
0
0
0
9
2
Poland
Number
1
4
1
2
0
1
0
9
3
0
0
1
0
4
0
26
0
2
3
2
4
3
8
0
5
2
6
0
8
0
0
0
43
9
Portugal
Number
1
0
1
1
1
0
1
3
0
3
1
1
0
1
0
14
0
0
0
0
0
1
0
0
0
0
0
1
0
1
0
0
3
0
Romania
Number
3
11
6
3
8
3
2
10
9
3
1
11
2
6
0
78
3
1
12
2
1
23
18
0
5
3
3
0
15
0
1
0
84
27
Spain
Number
2
11
6
2
9
9
4
14
10
6
2
20
0
2
0
97
8
1
27
8
10
38
72
0
6
4
31
3
85
0
3
5
293
101
Sweden
Number
0
10
4
0
3
1
0
5
1
1
0
3
0
0
0
28
3
0
2
0
2
9
19
0
2
0
3
0
35
0
0
0
72
49
Switzerland
Number
1
0
0
0
1
0
0
3
0
0
4
0
0
0
0
9
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Ukraine
Number
0
18
60
5
36
48
5
50
34
16
23
37
2
15
1
350
27
0
19
10
11
68
83
2
10
16
32
5
66
0
1
0
323
142
UK
Number
0
1
0
1
1
0
0
1
0
0
1
0
0
0
0
5
1
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
2
1
Other CEE*
Number
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Sector focus
Number of companies
Venture Deals
Europe
Table of Contents
Print
0 - 19
20 - 99
100 - 199
200 - 249
250 - 499
500 - 999
1,000 - 4,999
5,000 +
Total
Investment by number of employees
All private equity
1,504,907
4,224,323
2,182,292
724,450
2,136,043
3,034,346
7,669,020
2,544,721
24,020,102
Amount
6.3
17.6
9.1
3.0
8.9
12.6
31.9
10.6
100.0
1,945
1,641
442
128
268
169
238
68
4,899
39.7
33.5
9.0
2.6
5.5
3.5
4.8
1.4
100.0
774
2,574
4,935
5,678
7,959
17,914
32,280
37,316
4,903
1,454,447
3,812,420
2,392,180
1,756,471
4,067,257
4,327,918
17,625,189
7,115,389
42,551,271
3.4
9.0
5.6
4.1
9.6
10.2
41.4
16.7
100.0
1,849
1,619
527
148
311
202
313
65
5,033
Number of
companies
Amount
Number of
companies
Average size
of investment
2010
2009
Investments - Industry statistics (by country of private equity firm) - Investment by number of employees
36.7
32.2
10.5
2.9
6.2
4.0
6.2
1.3
100.0
787
2,354
4,537
11,871
13,098
21,409
56,381
110,135
8,454
Average size
of investment
Europe
Table of Contents
Print
176,308
2,384,259
1,711,819
514,739
1,919,978
2,939,261
7,286,547
2,515,767
19,448,677
1,174,160
1,797,873
394,547
144,973
111,222
115,968
58,481
0
3,797,224
1,168,928
3,980,018
2,104,659
654,985
2,082,293
3,142,136
7,597,115
2,515,767
23,245,901
Amount
0.9
12.3
8.8
2.6
9.9
15.1
37.5
12.9
100.0
30.9
47.3
10.4
3.8
2.9
3.1
1.5
0.0
100.0
5.0
17.1
9.1
2.8
9.0
13.5
32.7
10.8
100.0
Amount
192
546
238
81
208
125
196
68
1,654
1,789
1,040
164
30
33
28
16
0
3,100
1,867
1,548
422
120
267
168
236
68
4,696
11.6
33.0
14.4
4.9
12.6
7.6
11.9
4.1
100.0
57.7
33.5
5.3
1.0
1.1
0.9
0.5
0.0
100.0
39.8
33.0
9.0
2.6
5.7
3.6
5.0
1.4
100.0
917
4,366
7,180
6,374
9,246
23,519
37,154
37,121
11,759
656
1,729
2,407
4,763
3,393
4,127
3,568
0
1,225
626
2,571
4,988
5,447
7,807
18,666
32,176
37,121
4,950
554,258
2,705,146
1,919,181
1,658,242
3,815,385
3,755,998
16,407,431
6,902,626
37,718,267
1,168,737
1,587,987
502,340
25,257
195,199
22,410
11,734
0
3,513,664
1,395,596
3,914,205
2,337,561
1,732,013
4,081,611
3,898,600
16,969,720
6,902,626
41,231,931
1.5
7.2
5.1
4.4
10.1
10.0
43.5
18.3
100.0
33.3
45.2
14.3
0.7
5.6
0.6
0.3
0.0
100.0
3.4
9.5
5.7
4.2
9.9
9.5
41.2
16.7
100.0
223
576
305
121
245
168
258
59
1,954
1,691
953
167
12
37
9
16
0
2,885
1,779
1,511
497
148
311
201
309
59
4,816
Number of
companies
Average size
of investment
Number of
companies
%
2010
2009
11.4
29.5
15.6
6.2
12.5
8.6
13.2
3.0
100.0
58.6
33.0
5.8
0.4
1.3
0.3
0.6
0.0
100.0
36.9
31.4
10.3
3.1
6.5
4.2
6.4
1.2
100.0
2,486
4,698
6,287
13,746
15,577
22,336
63,662
117,938
19,303
691
1,666
3,016
2,183
5,273
2,422
725
0
1,218
785
2,590
4,699
11,670
13,105
19,428
54,854
117,938
8,561
Average size
of investment
0 - 19
20 - 99
100 - 199
200 - 249
250 - 499
500 - 999
1,000 - 4,999
5,000 +
Total
0 - 19
20 - 99
100 - 199
200 - 249
250 - 499
500 - 999
1,000 - 4,999
5,000 +
Total
Venture deals
0 - 19
20 - 99
100 - 199
200 - 249
250 - 499
500 - 999
1,000 - 4,999
5,000 +
Total
All private equity
Investments - Market statistics (by country of portfolio company) - Investment by number of employees
Europe
Table of Contents
Print
Table of Contents
Europe
Print
Divestments - Divestments 2009/2010 - Industry statistics (by country of private equity firm)
Amounts in million
Number of companies divested
United Kingdom
France
Germany
Sweden
Netherlands
Italy
Spain
Belgium
Finland
Denmark
Switzerland
Norway
Luxembourg
Poland
Austria
Czech Republic
Ireland
Romania
Portugal
Hungary
Baltic countries
Ukraine
Bulgaria
Greece
Other CEE*
European total
2009
2010
Amount
at cost
Amount
at cost
4,971
1,506
1,310
622
513
1,234
473
305
132
222
152
43
19
38
60
26
31
0
93
4
1
9
1
10
6
11,778
10,180
3,663
2,168
800
652
561
489
244
219
198
142
128
64
61
52
35
34
34
31
12
7
6
2
0
0
19,783
2009
2010
Change %
Number
Number
Change %
104.8
143.2
65.5
28.7
27.1
-54.5
3.5
-20.0
66.5
-10.6
-6.8
199.9
233.3
62.2
-12.7
37.6
12.4
n.a.
-66.5
239.1
462.7
-39.8
114.3
-100.0
-100.0
68.0
304
249
716
84
133
30
39
69
86
24
32
25
8
13
29
3
12
0
47
6
2
3
1
2
2
1,881
355
320
844
79
135
31
42
49
111
34
28
40
8
16
34
5
12
6
44
8
5
2
1
0
0
2,162
16.8
28.5
17.9
-6.0
1.5
3.3
7.7
-29.0
29.1
41.7
-12.5
60.0
0.0
23.1
17.2
66.7
0.0
n.a.
-6.4
33.3
150.0
-33.3
0.0
-100.0
-100.0
14.9
Table of Contents
Europe
Print
Divestments - Divestments 2010 - Industry versus market statistics

Country of private equity firm
Amounts in million
United Kingdom
France
Germany
Sweden
Netherlands
Italy
Spain
Belgium
Finland
Denmark
Switzerland
Norway
Luxembourg
Poland
Austria
Czech Republic
Ireland
Romania
Portugal
Hungary
Baltic countries
Ukraine
Bulgaria
Greece
Other CEE*
European total
Australasia
Canada
Israel
USA
Rest of the world
Total rest of the world
Total
Country of portfolio company
Amount at cost
Amount at cost
10,180
3,663
2,168
800
652
561
489
244
219
198
142
128
64
61
52
35
34
34
31
12
7
6
2
0
0
19,783
0
0
0
302
20
322
20,105
50.6
18.2
10.8
4.0
3.2
2.8
2.4
1.2
1.1
1.0
0.7
0.6
0.3
0.3
0.3
0.2
0.2
0.2
0.2
0.1
0.0
0.0
0.0
0.0
0.0
98.4
0.0
0.0
0.0
1.5
0.1
1.6
100.0
6,311
3,560
3,185
669
807
778
949
564
375
447
328
248
109
79
53
74
319
23
24
8
8
88
5
3
14
19,029
102
99
101
759
15
1,076
20,105
31.4
17.7
15.8
3.3
4.0
3.9
4.7
2.8
1.9
2.2
1.6
1.2
0.5
0.4
0.3
0.4
1.6
0.1
0.1
0.0
0.0
0.4
0.0
0.0
0.1
94.6
0.5
0.5
0.5
3.8
0.1
5.4
100.0
Table of Contents
Europe
Print
Divestments - Divestments 2009/2010 - Industry statistics (by country of private equity firm)
All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Divestment by trade sale
Divestment by public offering
Divestment on flotation (IPO)
Sale of quoted equity
Divestment by write-off
Repayment of silent partnerships
Repayment of principal loans
Sale to another private equity house
Sale to financial institution
Sale to management
Divestment by other means
Total divestment
3,343,520
1,398,716
100,510
1,298,205
4,139,307
90,124
384,081
1,016,584
469,260
622,386
314,189
11,778,167
4,261
1,514,082
1,056,341
146,729
1,568,227
990,209
273,050
2,389,362
886,605
626,799
559,798
1,042,993
15,032
571,380
133,298
11,778,167
28.4
11.9
35.1
0.8
3.3
8.6
4.0
5.3
2.7
100.0
378
133
8
125
438
355
150
153
39
209
118
1,881
0.0
12.9
9.0
1.2
13.3
8.4
2.3
20.3
7.5
5.3
4.8
8.9
0.1
4.9
1.1
100.0
9
353
159
59
191
290
55
204
91
73
29
252
10
43
63
1,881
19.2
6.7
22.2
18.0
7.6
7.8
2.0
10.6
6.0
100.0
4,737,787
2,201,068
1,098,806
1,102,261
3,897,694
111,705
666,563
6,432,808
454,593
829,080
451,765
19,783,061
0.5
18.8
8.5
3.1
10.2
15.4
2.9
10.8
4.8
3.9
1.5
13.4
0.5
2.3
3.3
100.0
57,878
2,182,148
1,222,439
385,086
2,344,747
1,732,293
315,831
4,150,761
3,170,369
392,741
482,547
2,621,313
61,154
634,232
29,522
19,783,061
23.9
11.1
19.7
0.6
3.4
32.5
2.3
4.2
2.3
100.0
386
166
22
144
405
462
173
271
39
249
85
2,162
17.3
7.4
18.1
20.7
7.7
12.1
1.7
11.1
3.8
100.0
0.3
11.0
6.2
1.9
11.9
8.8
1.6
21.0
16.0
2.0
2.4
13.3
0.3
3.2
0.1
100.0
20
398
194
82
198
289
56
304
115
69
48
285
10
55
39
2,162
0.9
18.4
9.0
3.8
9.2
13.4
2.6
14.1
5.3
3.2
2.2
13.2
0.5
2.5
1.8
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment

Sale to management
Total divestment
Exit route

Sale to management
Total divestment
Exit route
All Private Equity
743,025
466,831
236,551
230,280
273,363
2,433
78,899
1,767,562
16,159
152,187
162,240
3,662,699
France
Amount
4,737,787
2,201,068
1,098,806
1,102,261
3,897,694
111,705
666,563
6,432,808
454,593
829,080
451,765
19,783,061
Europe
Amount
644,115
284,659
202,396
82,262
409,017
93,247
136,616
386,918
26,345
134,885
52,484
2,168,286
Germany
Amount
19.7
0.6
3.4
32.5
2.3
4.2
2.3
100.0
23.9
11.1
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Amount
16,647
727
727
0
15,839
2,125
500
5,840
0
10,425
0
52,103
Austria
Amount
9,887
0
0
0
0
0
115
0
0
2,133
0
12,135
Hungary
Amount
1,500
0
0
0
5,387
0
0
0
0
0
0
6,887
Baltics
Amount
Divestments - Divestments 2010 - Industry statistics (by country of private equity firm)
22,669
3,788
0
3,788
6,800
0
0
0
0
1,125
0
34,382
Ireland
Amount
93,144
118,655
0
118,655
6,677
0
8,323
5,678
921
10,837
0
244,235
Belgium
Amount
105,699
11,929
4,100
7,829
259,469
0
19,000
86,050
3,077
44,270
31,766
561,259
Italy
Amount
1,500
0
0
0
0
0
0
0
0
0
0
1,500
Bulgaria
Amount
47,192
0
0
0
1,763
0
500
13,800
0
0
1,000
64,255
Luxembourg
Amount
27,786
0
0
0
0
0
0
4,586
0
0
2,923
35,295
Czech Rep.
Amount
136,923
11,131
0
11,131
27,105
0
75,043
201,308
0
114,921
85,163
651,594
Netherlands
Amount
97,670
33,487
32,393
1,094
0
0
4,110
47,208
0
4,335
11,657
198,468
Denmark
Amount
45,882
25,537
0
25,537
9,830
0
610
38,506
1,000
6,067
983
128,415
Norway
Amount
54,729
1,732
0
1,732
33,903
0
14,553
80,595
274
21,961
11,195
218,941
Finland
Amount
Europe
Table of Contents
Print

Sale to management
Total divestment
Exit route
All Private Equity
16,710
950
0
950
36,353
0
0
4,954
0
1,513
720
61,200
Poland
Amount
4,145
0
0
0
3,472
0
3,263
4,200
5
13,445
2,707
31,236
Portugal
Amount
12,026
0
0
0
0
0
0
21,165
0
345
0
33,536
Romania
Amount
251,663
2,276
0
2,276
52,834
5,700
567
104,064
0
64,813
7,478
489,395
Spain
Amount
144,873
115,608
58,825
56,783
176,883
8,200
27,588
121,912
104,516
77,055
23,395
800,028
Sweden
Amount
50,319
62,070
35,061
27,009
0
0
259
4,582
16,491
0
8,187
141,908
Switzerland
Amount
0
0
0
0
4,089
0
1,468
0
0
0
0
5,556
Ukraine
Amount
2,209,684
1,061,688
528,753
532,934
2,574,911
0
295,151
3,533,880
285,805
168,763
49,866
10,179,748
UK
Amount
0
0
0
0
0
0
0
0
0
0
0
0
Other CEE*
Amount
Europe
Table of Contents
Print

Sale to management
Total divestment
Exit route
Number of companies

Sale to management
Total divestment
Exit route
Number of companies
All Private Equity
81
58
5
53
22
2
10
83
7
50
27
320
France
Number
386
166
22
144
405
462
173
271
39
249
85
2,162
Europe
Number
64
21
2
19
220
457
16
20
10
45
8
844
Germany
Number
18.1
20.7
7.7
12.1
1.7
11.1
3.8
100.0
17.3
7.4
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Number
11
1
1
0
12
1
1
3
0
5
0
34
Austria
Number
1
0
0
0
0
0
2
0
0
7
0
8
Hungary
Number
1
0
0
0
4
0
0
0
0
0
0
5
Baltics
Number
7
1
0
1
2
0
0
0
0
2
0
12
Ireland
Number
10
11
0
11
7
0
9
2
4
6
0
49
Belgium
Number
10
2
1
1
2
0
1
10
1
3
2
31
Italy
Number
1
0
0
0
0
0
0
0
0
0
0
1
Bulgaria
Number
3
0
0
0
1
0
1
2
0
0
1
8
Luxembourg
Number
3
0
0
0
0
0
0
1
0
0
1
5
Czech Rep.
Number
25
2
0
2
24
0
47
12
0
19
10
135
Netherlands
Number
12
3
1
2
0
0
1
14
0
1
3
34
Denmark
Number
12
5
0
5
8
0
5
3
1
6
1
40
Norway
Number
19
2
0
2
25
0
24
18
1
24
3
111
Finland
Number
Europe
Table of Contents
Print

Sale to management
Total divestment
Exit route
Number of companies
All Private Equity
5
2
0
2
1
0
0
3
0
4
1
16
Poland
Number
2
0
0
0
4
0
18
1
1
19
1
44
Portugal
Number
2
0
0
0
0
0
0
3
0
1
0
6
Romania
Number
17
2
0
2
5
1
2
6
0
6
5
42
Spain
Number
21
14
3
11
6
1
3
14
7
5
9
79
Sweden
Number
12
6
2
4
0
0
2
4
1
0
3
28
Switzerland
Number
0
0
0
0
1
0
1
0
0
0
0
2
Ukraine
Number
91
45
7
38
64
0
31
77
6
46
10
355
UK
Number
0
0
0
0
0
0
0
0
0
0
0
0
Other CEE*
Number
Europe
Table of Contents
Print

Total divestment in year
All Private Equity
7,517,913
5,348,114
1,255,760
18,984,944
33,106,730
Amount
%
22.7
16.2
3.8
57.3
100.0
2006
7,011,935
2,630,561
781,854
16,674,114
27,098,465
Amount
%
25.9
9.7
2.9
61.5
100.0
2007
5,476,546
691,003
873,352
7,188,062.7
14,228,964
Amount
%
38.5
4.9
6.1
50.5
100.0
2008
3,343,520
1,398,716
4,139,307
2,896,624
11,778,167
Amount
Divestments - Divestments - Industry statistics (by country of private equity firm) - 5-year trend
%
28.4
11.9
35.1
24.6
100.0
2009
4,737,787
2,201,068
3,897,694
8,946,513
19,783,061
Amount
%
23.9
11.1
19.7
45.2
100.0
2010
28,087,701
12,269,461
10,947,967
54,690,258
105,995,386
Amount
26.5
11.6
10.3
51.6
100.0
5-year total
Europe
Table of Contents
Print
Table of Contents
Europe
Print
Divestments - Divestments 2009/2010 - Market statistics (by country of portfolio company)

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
3,419,251
1,243,069
11,686
1,231,383
4,070,126
90,006
384,081
1,041,765
480,564
616,386
281,681
11,626,930
4,261
1,495,635
1,045,071
143,707
1,685,042
920,988
273,050
2,389,415
892,156
568,511
559,798
929,585
15,032
571,380
133,298
11,626,930
29.4
10.7
35.0
0.8
3.3
9.0
4.1
5.3
2.4
100.0
366
109
5
104
429
354
149
150
40
207
111
1,825
0.0
12.9
9.0
1.2
14.5
7.9
2.3
20.6
7.7
4.9
4.8
8.0
0.1
4.9
1.1
100.0
9
349
156
56
184
278
55
204
91
69
29
229
10
43
63
1,825
19.1
5.7
22.4
18.5
7.8
7.8
2.1
10.8
5.8
100.0
4,253,987
1,985,461
998,639
986,821
4,084,283
111,514
601,576
6,268,975
451,562
832,796
438,466
19,028,618
0.5
19.1
8.5
3.1
10.1
15.2
3.0
11.2
5.0
3.8
1.6
12.5
0.5
2.4
3.5
100.0
57,878
2,351,833
1,194,907
378,974
2,215,924
1,487,254
315,831
4,153,215
3,061,403
399,087
478,264
2,214,112
61,154
634,027
24,755
19,028,618
22.4
10.4
21.5
0.6
3.2
32.9
2.4
4.4
2.3
100.0
360
154
20
134
398
460
168
257
36
244
81
2,086
16.7
7.1
18.4
21.3
7.8
11.9
1.7
11.3
3.8
100.0
0.3
12.4
6.3
2.0
11.6
7.8
1.7
21.8
16.1
2.1
2.5
11.6
0.3
3.3
0.1
100.0
20
395
192
81
180
273
56
302
113
69
44
259
10
54
38
2,086
1.0
18.9
9.2
3.9
8.6
13.1
2.7
14.5
5.4
3.3
2.1
12.4
0.5
2.6
1.8
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
All Private Equity
57,878
2,351,833
1,194,907
378,974
2,215,924
1,487,254
315,831
4,153,215
3,061,403
399,087
478,264
2,214,112
61,154
634,027
24,755
19,028,618
4,253,987
1,985,461
998,639
986,821
4,084,283
111,514
601,576
6,268,975
451,562
832,796
438,466
19,028,618
Europe
Amount
0.3
12.4
6.3
2.0
11.6
7.8
1.7
21.8
16.1
2.1
2.5
11.6
0.3
3.3
0.1
100.0
21.5
0.6
3.2
32.9
2.4
4.4
2.3
100.0
22.4
10.4
0
15,370
1,663
6,863
10,292
0
600
3,996
1,263
6,284
0
6,615
0
0
0
52,944
15,595
727
727
0
16,339
2,125
1,100
2,902
0
14,156
0
52,944
Austria
Amount
0
2,600
1,517
0
1,800
0
0
1,500
0
0
0
987
0
0
0
8,404
1,500
0
0
0
6,904
0
0
0
0
0
0
8,404
Baltics
Amount
Divestments - Divestments 2010 - Market statistics (by country of portfolio company)
0
837
81,911
121
2,070
1,208
2,808
217,836
564
1,260
1,600
91,169
1,800
160,646
0
563,830
62,488
136,850
0
136,850
6,677
0
15,336
191,652
458
70,886
79,483
563,830
Belgium
Amount
0
0
0
0
3,890
0
0
0
1,500
0
0
0
0
0
0
5,390
1,500
0
0
0
0
0
0
3,890
0
0
0
5,390
Bulgaria
Amount
0
35,182
0
0
17,973
0
2,000
0
0
19,000
0
0
0
0
0
74,155
56,182
0
0
0
0
0
0
12,708
0
2,342
2,923
74,155
Czech Rep.
Amount
0
30,292
6,682
0
257,598
4,606
0
92,533
0
28,500
0
22,427
0
4,335
0
446,973
69,736
306,318
89,005
217,313
0
0
31,110
23,817
0
4,335
11,657
446,973
Denmark
Amount
0
36,910
8,743
29,593
169,557
44,032
25,870
3,166
3,395
3,180
0
44,542
0
5,876
481
375,345
59,406
7,130
0
7,130
197,538
0
6,373
59,067
12,675
21,961
11,195
375,345
Finland
Amount
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
All Private Equity
36,991
299,253
256,611
25,792
85,538
248,188
31,456
1,437,386
201,127
41,037
67,334
782,164
5,233
32,015
9,712
3,559,838
872,443
380,396
179,939
200,457
223,967
2,433
92,787
1,755,973
14,036
135,154
82,649
3,559,838
France
Amount
827
646,240
41,937
163,632
915,882
80,479
56,976
804,256
203,984
71,218
2,839
102,305
51,545
28,824
13,808
3,184,751
706,423
534,014
397,631
136,384
632,703
92,421
159,107
846,139
26,164
135,310
52,469
3,184,751
Germany
Amount
0
0
0
0
3,000
0
0
0
0
0
0
0
0
0
0
3,000
0
0
0
0
0
0
0
0
0
3,000
0
3,000
Greece
Amount
0
203
0
0
1,352
1,563
110
36
0
0
4,554
0
0
317
0
8,136
0
0
0
0
1,334
0
115
0
0
6,687
0
8,136
Hungary
Amount
0
0
0
0
239,133
53,182
0
0
100
0
0
26,243
0
0
0
318,658
30,079
4,053
0
4,053
247,904
0
0
32,236
0
4,387
0
318,658
Ireland
Amount
0
261,713
15,883
22,237
109,734
139,006
19,570
39,644
10,521
0
78,552
29,514
0
51,163
0
777,537
109,494
18,705
4,100
14,605
300,185
0
19,000
196,489
3,077
44,270
86,318
777,537
Italy
Amount
0
157
0
0
4,153
63,356
0
29,875
1,000
0
10,672
0
0
0
0
109,213
4,153
24,670
24,670
0
29,875
0
0
10,672
157
38,686
1,000
109,213
Luxembourg
Amount
3,284
313,825
50,995
46,239
136,089
50,099
13,077
71,057
24,655
28,152
46,593
20,673
0
2,333
150
807,220
380,873
19
0
19
24,505
0
44,155
290,255
2,124
56,942
8,348
807,220
Netherlands
Amount
10,549
7,009
4,032
231
1,338
146,849
0
0
837
8,311
13,132
53,479
2,545
0
0
248,312
32,534
18,113
0
18,113
7,421
0
610
181,583
1,000
6,067
983
248,312
Norway
Amount
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
All Private Equity
0
906
2
0
8,169
411
0
47,558
1,672
0
20,070
0
0
0
0
78,788
7,314
1,493
0
1,493
36,353
0
0
13,277
181
20,171
0
78,788
Poland
Amount
100
832
148
0
381
2,636
0
4,216
69
6,606
0
154
0
9,200
0
24,342
3,320
0
0
0
14
0
3,263
4,200
5
8,852
4,689
24,342
Portugal
Amount
0
345
0
0
0
0
0
0
1,550
6,200
0
14,965
0
0
0
23,060
1,000
0
0
0
0
0
0
21,165
0
895
0
23,060
Romania
Amount
3,458
85,986
17,520
30,615
39,014
180,723
117,775
107,440
162,345
3,994
0
21,645
0
178,630
0
949,144
246,091
142,526
139,933
2,593
177,434
5,700
28,254
272,284
0
69,394
7,461
949,144
Spain
Amount
0
116,205
45,392
17
1,118
26,084
15,820
160,222
70,124
881
10,194
222,698
0
0
0
668,756
135,037
127,245
58,825
68,420
14,557
8,200
8,180
186,006
89,084
77,054
23,395
668,756
Sweden
Amount
0
66,071
10,000
0
2,948
40,657
0
97,331
18,247
26,024
1,581
64,904
0
0
0
327,763
107,804
86,254
32,500
53,754
53,672
635
259
37,481
16,491
1,100
24,069
327,763
Switzerland
Amount
0
0
0
0
0
0
0
1,468
0
48,000
38,129
0
0
0
0
87,597
48,000
0
0
0
38,129
0
1,468
0
0
0
0
87,597
Ukraine
Amount
2,669
431,896
651,870
39,634
204,898
404,176
29,768
1,033,697
2,358,452
100,439
183,013
709,626
31
160,689
604
6,311,462
1,303,017
196,949
71,310
125,639
2,068,772
0
190,461
2,113,179
286,111
111,146
41,827
6,311,462
UK
Amount
0
0
0
14,000
0
0
0
0
0
0
0
0
0
0
0
14,000
0
0
0
0
0
0
0
14,000
0
0
0
14,000
Other CEE*
Amount
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Number of companies
All Private Equity
20
395
192
81
180
273
56
302
113
69
44
259
10
54
38
2,086
360
154
20
134
398
460
168
257
36
244
81
2,086
Europe
Number
1.0
18.9
9.2
3.9
8.6
13.1
2.7
14.5
5.4
3.3
2.1
12.4
0.5
2.6
1.8
100.0
18.4
21.3
7.8
11.9
1.7
11.3
3.8
100.0
16.7
7.1
0
7
3
3
7
0
1
2
3
1
0
7
0
0
0
34
10
1
1
0
13
1
2
2
0
5
0
34
Austria
Number
0
1
1
0
2
0
0
1
0
0
0
1
0
0
0
6
1
0
0
0
5
0
0
0
0
0
0
6
Baltics
Number
0
1
5
1
1
3
2
15
1
1
1
12
1
3
0
47
8
9
0
9
7
0
10
2
2
7
2
47
Belgium
Number
0
0
0
0
1
0
0
0
1
0
0
0
0
0
0
2
1
0
0
0
0
0
0
1
0
0
0
2
Bulgaria
Number
0
3
0
0
4
0
1
0
0
1
0
0
0
0
0
9
5
0
0
0
0
0
0
3
0
1
1
9
Czech Rep.
Number
0
3
2
0
4
5
0
3
0
2
0
13
0
1
0
33
8
5
2
3
0
0
2
14
0
1
3
33
Denmark
Number
0
23
9
3
8
22
7
3
8
3
0
17
0
1
1
105
18
2
0
2
25
0
23
14
1
24
3
105
Finland
Number
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Number of companies
All Private Equity
3
34
32
4
25
62
7
48
11
7
4
44
3
7
5
296
80
53
4
49
17
2
11
77
6
47
23
296
France
Number
6
236
86
47
50
66
21
134
33
23
6
69
4
20
29
830
61
16
3
13
218
454
17
23
8
44
7
830
Germany
Number
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
1
0
1
Greece
Number
0
2
0
0
2
1
1
1
0
0
1
0
0
1
0
9
0
0
0
0
1
0
2
0
0
8
0
9
Hungary
Number
0
0
0
0
3
10
0
0
1
0
0
4
0
0
0
18
5
2
0
2
6
0
0
2
0
3
0
18
Ireland
Number
0
7
1
2
3
3
2
6
1
0
2
4
0
5
0
36
11
4
1
3
3
0
1
11
1
3
3
36
Italy
Number
0
1
0
0
1
2
0
1
1
0
2
0
0
0
0
8
1
1
1
0
1
0
0
2
1
1
1
8
Luxembourg
Number
2
26
8
9
20
22
4
15
5
3
3
14
0
2
1
134
25
1
0
1
23
0
46
15
1
19
8
134
Netherlands
Number
6
7
2
1
2
7
0
0
1
3
1
7
1
0
0
38
10
4
0
4
7
0
5
5
1
6
1
38
Norway
Number
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Number of companies
All Private Equity
0
1
1
0
6
1
0
4
2
0
4
0
0
0
0
19
4
3
0
3
1
0
0
4
2
5
0
19
Poland
Number
1
5
6
0
3
6
0
9
3
6
0
1
0
2
0
42
1
0
0
0
3
0
18
1
1
17
3
42
Portugal
Number
0
1
0
0
0
0
0
0
2
2
0
1
0
0
0
6
1
0
0
0
0
0
0
3
0
2
0
6
Romania
Number
1
4
1
2
7
5
3
9
3
2
0
6
0
5
0
48
16
4
1
3
8
1
3
8
0
7
4
48
Spain
Number
0
7
5
1
2
10
1
15
4
4
2
26
0
0
0
77
20
14
3
11
6
1
1
20
4
4
9
77
Sweden
Number
0
4
1
0
3
3
0
6
1
2
2
6
0
0
0
28
8
6
1
5
2
1
2
4
1
1
4
28
Switzerland
Number
0
0
0
0
0
0
0
1
0
1
1
0
0
0
0
3
1
0
0
0
1
0
1
0
0
0
0
3
Ukraine
Number
1
22
29
7
25
45
6
29
32
8
15
27
1
7
2
256
65
29
3
26
51
0
24
45
7
38
9
256
UK
Number
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
1
0
0
0
1
Other CEE*
Number
Europe
Table of Contents
Print
Table of Contents
Europe
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
690,474
324,451
8,419
316,032
484,942
49,059
40,519
309,239
83,416
99,826
150,803
2,232,730
3,890
81,403
83,521
31,007
382,826
581,773
4,854
85,674
30,729
277,417
56,362
523,327
9,007
39,743
41,195
2,232,730
30.9
14.5
21.7
2.2
1.8
13.9
3.7
4.5
6.8
100.0
204
70
4
66
306
283
79
74
18
100
59
1,135
0.2
3.6
3.7
1.4
17.1
26.1
0.2
3.8
1.4
12.4
2.5
23.4
0.4
1.8
1.8
100.0
6
186
82
39
137
220
29
93
46
44
14
184
6
18
31
1,135
17.1
5.9
25.6
23.7
6.6
6.2
1.5
8.4
4.9
100.0
829,214
275,690
10,257
265,433
286,712
52,716
21,526
324,514
42,588
132,369
45,312
2,010,640
0.5
16.4
7.2
3.4
12.1
19.4
2.6
8.2
4.1
3.9
1.2
16.2
0.5
1.6
2.7
100.0
11,456
177,669
43,473
30,423
312,859
507,027
4,696
46,543
63,037
142,851
44,398
583,152
906
33,442
8,708
2,010,640
41.2
13.7
14.3
2.6
1.1
16.1
2.1
6.6
2.3
100.0
172
96
5
91
267
307
68
80
18
93
42
1,105
15.0
8.4
23.4
26.9
5.9
7.0
1.6
8.1
3.7
100.0
0.6
8.8
2.2
1.5
15.6
25.2
0.2
2.3
3.1
7.1
2.2
29.0
0.0
1.7
0.4
100.0
10
203
90
43
126
190
17
87
45
48
8
191
3
20
24
1,105
0.9
18.4
8.1
3.9
11.4
17.2
1.5
7.9
4.1
4.3
0.7
17.3
0.3
1.8
2.2
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Europe
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
2,728,777
917,203
3,267
913,936
3,585,184
40,947
343,562
732,525
397,148
516,560
130,878
9,392,785
371
1,412,817
961,550
112,700
1,302,215
339,216
268,196
2,303,741
861,427
291,095
503,436
406,258
6,025
531,636
92,103
9,392,785
29.1
9.8
38.2
0.4
3.7
7.8
4.2
5.5
1.4
100.0
166
43
1
42
124
92
70
77
22
110
52
731
0.0
15.0
10.2
1.2
13.9
3.6
2.9
24.5
9.2
3.1
5.4
4.3
0.1
5.7
1.0
100.0
3
171
78
19
50
63
29
115
47
29
15
50
4
26
32
731
22.0
5.7
16.4
12.2
9.3
10.2
2.9
14.6
6.9
100.0
3,424,773
1,709,771
988,382
721,388
3,797,570
58,798
580,050
5,944,460
408,975
700,427
393,155
17,017,979
0.4
23.4
10.7
2.6
6.8
8.6
4.0
15.7
6.4
4.0
2.1
6.8
0.5
3.6
4.4
100.0
46,422
2,174,164
1,151,434
348,551
1,903,065
980,227
311,135
4,106,672
2,998,366
256,236
433,866
1,630,960
60,248
600,585
16,047
17,017,979
20.1
10.0
22.3
0.3
3.4
34.9
2.4
4.1
2.3
100.0
192
63
15
48
131
163
100
180
18
151
39
1,005
18.5
6.1
12.6
15.7
9.6
17.4
1.7
14.6
3.8
100.0
0.3
12.8
6.8
2.0
11.2
5.8
1.8
24.1
17.6
1.5
2.5
9.6
0.4
3.5
0.1
100.0
10
195
103
39
58
88
39
218
69
22
36
71
7
35
15
1,005
1.0
19.4
10.2
3.9
5.8
8.8
3.9
21.7
6.9
2.2
3.6
7.1
0.7
3.5
1.5
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Venture Deals
11,456
177,669
43,473
30,423
312,859
507,027
4,696
46,543
63,037
142,851
44,398
583,152
906
33,442
8,708
2,010,640
829,214
275,690
10,257
265,433
286,712
52,716
21,526
324,514
42,588
132,369
45,312
2,010,640
Europe
Amount
0.6
8.8
2.2
1.5
15.6
25.2
0.2
2.3
3.1
7.1
2.2
29.0
0.0
1.7
0.4
100.0
14.3
2.6
1.1
16.1
2.1
6.6
2.3
100.0
41.2
13.7
0
2,117
1,663
1,090
7,839
0
0
1,143
1,163
0
0
6,615
0
0
0
21,629
9,724
727
727
0
6,686
0
500
2,902
0
1,090
0
21,629
Austria
Amount
0
0
1,517
0
300
0
0
0
0
0
0
987
0
0
0
2,804
0
0
0
0
2,804
0
0
0
0
0
0
2,804
Baltics
Amount
0
0
0
0
2,070
1,208
708
53
0
0
0
35,891
0
0
0
39,930
2,479
32,292
0
32,292
1,871
0
0
0
458
2,778
53
39,930
Belgium
Amount
0
0
0
0
3,890
0
0
0
0
0
0
0
0
0
0
3,890
0
0
0
0
0
0
0
3,890
0
0
0
3,890
Bulgaria
Amount
0
0
0
0
2,727
0
0
0
0
19,000
0
0
0
0
0
21,727
19,000
0
0
0
0
0
0
385
0
2,342
0
21,727
Czech Rep.
Amount
0
0
0
0
2,014
4,606
0
0
0
1,500
0
22,427
0
0
0
30,547
15,265
1,094
0
1,094
0
0
0
14,188
0
0
0
30,547
Denmark
Amount
0
7,881
4,457
160
1,474
34,393
0
0
287
3,180
0
44,467
0
0
481
96,780
29,957
5,931
0
5,931
17,861
0
1,357
11,051
12,675
17,274
675
96,780
Finland
Amount
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Venture Deals
120
15,647
8,346
10,919
34,813
159,211
2,366
4,275
2,612
10,599
192
83,028
500
547
3,215
336,389
177,545
53,398
2,895
50,503
14,527
350
238
43,978
10,670
20,437
15,246
336,389
France
Amount
787
57,130
13,126
15,287
50,638
39,874
1,358
26,181
7,413
22,184
1,656
94,709
406
5,778
4,804
341,331
101,667
37,532
0
37,532
104,067
52,366
2,120
26,051
9,862
7,055
612
341,331
Germany
Amount
0
0
0
0
3,000
0
0
0
0
0
0
0
0
0
0
3,000
0
0
0
0
0
0
0
0
0
3,000
0
3,000
Greece
Amount
0
42
0
0
1,352
0
0
0
0
0
4,554
0
0
317
0
6,265
0
0
0
0
1,334
0
42
0
0
4,889
0
6,265
Hungary
Amount
0
0
0
0
635
46,093
0
0
0
0
0
5,688
0
0
0
52,416
20,350
4,053
0
4,053
2,217
0
0
21,410
0
4,387
0
52,416
Ireland
Amount
0
0
0
0
0
0
0
4,100
0
0
0
14,605
0
0
0
18,705
0
18,705
4,100
14,605
0
0
0
0
0
0
0
18,705
Italy
Amount
0
0
0
0
4,153
0
0
0
0
0
0
0
0
0
0
4,153
4,153
0
0
0
0
0
0
0
0
0
0
4,153
Luxembourg
Amount
0
1,019
210
1,076
82,428
34,803
139
3,588
150
460
0
18,469
0
0
150
142,492
49,398
0
0
0
11,878
0
6,052
69,000
0
2,130
4,034
142,492
Netherlands
Amount
10,549
6,609
4,032
231
1,338
3,643
0
0
837
3,511
0
16,367
0
0
0
47,117
19,001
10,768
0
10,768
7,421
0
610
1,394
1,000
5,939
983
47,117
Norway
Amount
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Venture Deals
0
906
2
0
7,490
411
0
0
550
0
20,008
0
0
0
0
29,368
7
1,493
0
1,493
0
0
0
7,548
150
20,171
0
29,368
Poland
Amount
0
569
98
0
381
671
0
1,042
69
3,367
0
154
0
0
0
6,350
3,320
0
0
0
14
0
1,850
0
5
1,145
17
6,350
Portugal
Amount
0
345
0
0
0
0
0
0
550
6,200
0
0
0
0
0
7,095
0
0
0
0
0
0
0
6,200
0
895
0
7,095
Romania
Amount
0
81,932
0
1,100
25,524
7,473
0
0
2,200
1,994
0
1,070
0
26,800
0
148,093
106,191
0
0
0
31,769
0
1,038
7,625
0
150
1,320
148,093
Spain
Amount
0
2,153
2,650
17
1,118
18,031
0
4,278
0
531
0
85,702
0
0
0
114,480
20,263
42,267
0
42,267
9,075
0
0
15,664
7,768
195
19,248
114,480
Sweden
Amount
0
832
0
0
2,948
40,657
0
0
0
26,024
0
58,061
0
0
0
128,523
54,185
48,331
0
48,331
13,572
0
21
9,502
0
0
2,912
128,523
Switzerland
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Ukraine
Amount
0
487
7,373
543
76,727
115,952
125
1,884
47,207
44,300
17,987
94,911
0
0
58
407,555
196,709
19,100
2,536
16,565
61,615
0
7,698
83,728
0
38,492
212
407,555
UK
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Other CEE*
Amount
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
46,422
2,174,164
1,151,434
348,551
1,903,065
980,227
311,135
4,106,672
2,998,366
256,236
433,866
1,630,960
60,248
600,585
16,047
17,017,979
3,424,773
1,709,771
988,382
721,388
3,797,570
58,798
580,050
5,944,460
408,975
700,427
393,155
17,017,979
Europe
Amount
0.3
12.8
6.8
2.0
11.2
5.8
1.8
24.1
17.6
1.5
2.5
9.6
0.4
3.5
0.1
100.0
22.3
0.3
3.4
34.9
2.4
4.1
2.3
100.0
20.1
10.0
0
13,253
0
5,773
2,453
0
600
2,853
100
6,284
0
0
0
0
0
31,315
5,871
0
0
0
9,653
2,125
600
0
0
13,066
0
31,315
Austria
Amount
0
2,600
0
0
1,500
0
0
1,500
0
0
0
0
0
0
0
5,600
1,500
0
0
0
4,100
0
0
0
0
0
0
5,600
Baltics
Amount
0
837
81,911
121
0
0
2,100
217,783
564
1,260
1,600
55,278
1,800
160,646
0
523,900
60,009
104,558
0
104,558
4,806
0
15,336
191,652
0
68,108
79,431
523,900
Belgium
Amount
0
0
0
0
0
0
0
0
1,500
0
0
0
0
0
0
1,500
1,500
0
0
0
0
0
0
0
0
0
0
1,500
Bulgaria
Amount
0
35,182
0
0
15,245
0
2,000
0
0
0
0
0
0
0
0
52,427
37,182
0
0
0
0
0
0
12,322
0
0
2,923
52,427
Czech Rep.
Amount
0
30,292
6,682
0
255,584
0
0
92,533
0
27,000
0
0
0
4,335
0
416,426
54,471
305,224
89,005
216,219
0
0
31,110
9,629
0
4,335
11,657
416,426
Denmark
Amount
0
29,029
4,286
29,433
168,083
9,639
25,870
3,166
3,108
0
0
75
0
5,876
0
278,565
29,449
1,199
0
1,199
179,677
0
5,016
48,017
0
4,687
10,520
278,565
Finland
Amount
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
36,871
283,606
248,266
14,873
50,725
88,976
29,090
1,433,111
198,515
30,438
67,142
699,136
4,733
31,468
6,497
3,223,448
694,898
326,999
177,044
149,954
209,440
2,083
92,549
1,711,996
3,365
114,717
67,403
3,223,448
France
Amount
40
589,110
28,811
148,345
865,244
40,605
55,618
778,075
196,571
49,034
1,183
7,596
51,139
23,046
9,004
2,843,419
604,756
496,482
397,631
98,852
528,636
40,055
156,987
820,089
16,302
128,255
51,857
2,843,419
Germany
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Amount
0
162
0
0
0
1,563
110
36
0
0
0
0
0
0
0
1,871
0
0
0
0
0
0
73
0
0
1,798
0
1,871
Hungary
Amount
0
0
0
0
238,498
7,089
0
0
100
0
0
20,555
0
0
0
266,242
9,729
0
0
0
245,687
0
0
10,826
0
0
0
266,242
Ireland
Amount
0
261,713
15,883
22,237
109,734
139,006
19,570
35,544
10,521
0
78,552
14,909
0
51,163
0
758,832
109,494
0
0
0
300,185
0
19,000
196,489
3,077
44,270
86,318
758,832
Italy
Amount
0
157
0
0
0
63,356
0
29,875
1,000
0
10,672
0
0
0
0
105,060
0
24,670
24,670
0
29,875
0
0
10,672
157
38,686
1,000
105,060
Luxembourg
Amount
3,284
312,806
50,785
45,163
53,661
15,296
12,938
67,469
24,505
27,692
46,593
2,204
0
2,333
0
664,728
331,475
19
0
19
12,627
0
38,103
221,255
2,124
54,812
4,314
664,728
Netherlands
Amount
0
400
0
0
0
143,205
0
0
0
4,800
13,132
37,112
2,545
0
0
201,195
13,532
7,345
0
7,345
0
0
0
180,189
0
128
0
201,195
Norway
Amount
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
0
0
0
0
679
0
0
47,558
1,122
0
62
0
0
0
0
49,420
7,307
0
0
0
36,353
0
0
5,729
31
0
0
49,420
Poland
Amount
100
263
50
0
0
1,965
0
3,174
0
3,240
0
0
0
9,200
0
17,992
0
0
0
0
0
0
1,413
4,200
0
7,707
4,672
17,992
Portugal
Amount
0
0
0
0
0
0
0
0
1,000
0
0
14,965
0
0
0
15,965
1,000
0
0
0
0
0
0
14,965
0
0
0
15,965
Romania
Amount
3,458
4,054
17,520
29,515
13,490
173,250
117,775
107,440
160,145
2,000
0
20,575
0
151,830
0
801,050
139,900
142,526
139,933
2,593
145,665
5,700
27,216
264,659
0
69,244
6,141
801,050
Spain
Amount
0
114,052
42,742
0
0
8,053
15,820
155,944
70,124
350
10,194
136,996
0
0
0
554,276
114,774
84,978
58,825
26,153
5,481
8,200
8,180
170,342
81,316
76,860
4,146
554,276
Sweden
Amount
0
65,239
10,000
0
0
0
0
97,331
18,247
0
1,581
6,843
0
0
0
199,241
53,619
37,923
32,500
5,423
40,100
635
238
27,979
16,491
1,100
21,157
199,241
Switzerland
Amount
0
0
0
0
0
0
0
1,468
0
48,000
38,129
0
0
0
0
87,597
48,000
0
0
0
38,129
0
1,468
0
0
0
0
87,597
Ukraine
Amount
2,669
431,410
644,498
39,091
128,170
288,224
29,643
1,031,812
2,311,245
56,139
165,025
614,716
31
160,689
547
5,903,908
1,106,309
177,848
68,775
109,074
2,007,156
0
182,763
2,029,451
286,111
72,654
41,615
5,903,908
UK
Amount
0
0
0
14,000
0
0
0
0
0
0
0
0
0
0
0
14,000
0
0
0
0
0
0
0
14,000
0
0
0
14,000
Other CEE*
Amount
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Number of companies
Venture Deals
10
203
90
43
126
190
17
87
45
48
8
191
3
20
24
1,105
172
96
5
91
267
307
68
80
18
93
42
1,105
Europe
Number
0.9
18.4
8.1
3.9
11.4
17.2
1.5
7.9
4.1
4.3
0.7
17.3
0.3
1.8
2.2
100.0
23.4
26.9
5.9
7.0
1.6
8.1
3.7
100.0
15.0
8.4
0
3
3
1
6
0
0
1
2
0
0
7
0
0
0
23
7
1
1
0
11
0
1
2
0
1
0
23
Austria
Number
0
0
1
0
1
0
0
0
0
0
0
1
0
0
0
3
0
0
0
0
3
0
0
0
0
0
0
3
Baltics
Number
0
0
0
0
1
3
1
1
0
0
0
6
0
0
0
12
1
3
0
3
3
0
0
0
2
2
1
12
Belgium
Number
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
1
0
0
0
1
Bulgaria
Number
0
0
0
0
2
0
0
0
0
1
0
0
0
0
0
3
1
0
0
0
0
0
0
1
0
1
0
3
Czech Rep.
Number
0
0
0
0
1
5
0
0
0
1
0
13
0
0
0
20
5
2
0
2
0
0
0
13
0
0
0
20
Denmark
Number
0
6
4
1
4
15
0
0
2
3
0
15
0
0
1
51
12
1
0
1
18
0
3
3
1
15
1
51
Finland
Number
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Number of companies
Venture Deals
1
6
15
2
21
47
1
5
2
3
1
24
1
3
2
134
40
42
2
40
5
1
3
25
4
10
17
134
France
Number
3
161
49
28
38
48
12
68
23
19
2
57
2
15
19
544
37
10
0
10
168
306
6
6
5
17
3
544
Germany
Number
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
1
0
1
Greece
Number
0
1
0
0
2
0
0
0
0
0
1
0
0
1
0
5
0
0
0
0
1
0
1
0
0
3
0
5
Hungary
Number
0
0
0
0
1
8
0
0
0
0
0
2
0
0
0
11
4
2
0
2
1
0
0
1
0
3
0
11
Ireland
Number
0
0
0
0
0
0
0
1
0
0
0
3
0
0
0
4
0
4
1
3
0
0
0
0
0
0
0
4
Italy
Number
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
1
Luxembourg
Number
0
9
2
5
12
15
2
1
1
2
0
11
0
0
1
61
7
0
0
0
15
0
30
1
0
3
6
61
Netherlands
Number
6
6
2
1
2
3
0
0
1
2
0
6
0
0
0
29
8
2
0
2
7
0
5
2
1
4
1
29
Norway
Number
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Number of companies
Venture Deals
0
1
1
0
6
1
0
0
1
0
2
0
0
0
0
12
1
3
0
3
0
0
0
2
1
5
0
12
Poland
Number
0
3
5
0
3
5
0
6
3
5
0
1
0
0
0
31
1
0
0
0
3
0
11
0
1
15
1
31
Portugal
Number
0
1
0
0
0
0
0
0
1
2
0
0
0
0
0
4
0
0
0
0
0
0
0
2
0
2
0
4
Romania
Number
0
2
0
1
6
3
0
0
1
1
0
5
0
1
0
20
9
0
0
0
4
0
1
3
0
1
2
20
Spain
Number
0
1
1
1
2
8
0
3
0
3
0
20
0
0
0
39
10
8
0
8
5
0
0
7
3
2
6
39
Sweden
Number
0
1
0
0
3
3
0
0
0
2
0
3
0
0
0
12
4
4
0
4
1
0
1
2
0
0
1
12
Switzerland
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Ukraine
Number
0
2
7
3
12
26
1
1
8
4
2
17
0
0
1
84
24
14
1
13
22
0
6
9
0
8
3
84
UK
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Other CEE*
Number
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Number of companies
10
195
103
39
58
88
39
218
69
22
36
71
7
35
15
1,005
192
63
15
48
131
163
100
180
18
151
39
1,005
Europe
Number
1.0
19.4
10.2
3.9
5.8
8.8
3.9
21.7
6.9
2.2
3.6
7.1
0.7
3.5
1.5
100.0
12.6
15.7
9.6
17.4
1.7
14.6
3.8
100.0
18.5
6.1
0
4
0
2
1
0
1
1
1
1
0
0
0
0
0
11
3
0
0
0
2
1
1
0
0
4
0
11
Austria
Number
0
1
0
0
1
0
0
1
0
0
0
0
0
0
0
3
1
0
0
0
2
0
0
0
0
0
0
3
Baltics
Number
0
1
5
1
0
0
1
14
1
1
1
7
1
3
0
36
7
7
0
7
4
0
10
2
0
5
1
36
Belgium
Number
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
1
Bulgaria
Number
0
3
0
0
3
0
1
0
0
0
0
0
0
0
0
7
4
0
0
0
0
0
0
2
0
0
1
7
Czech Rep.
Number
0
3
2
0
3
0
0
3
0
1
0
0
0
1
0
13
3
3
2
1
0
0
2
1
0
1
3
13
Denmark
Number
0
17
5
2
4
7
7
3
6
0
0
2
0
1
0
54
6
1
0
1
7
0
20
11
0
9
2
54
Finland
Number
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Number of companies
2
29
17
2
5
18
6
44
9
4
3
20
2
5
3
169
43
14
2
12
12
1
8
53
2
37
6
169
France
Number
3
76
38
20
12
20
9
68
11
5
4
14
2
5
11
298
24
7
3
4
50
158
11
18
3
27
4
298
Germany
Number
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Greece
Number
0
2
0
0
0
1
1
1
0
0
0
0
0
0
0
5
0
0
0
0
0
0
1
0
0
5
0
5
Hungary
Number
0
0
0
0
2
2
0
0
1
0
0
2
0
0
0
7
1
0
0
0
5
0
0
1
0
0
0
7
Ireland
Number
0
7
1
2
3
3
2
5
1
0
2
1
0
5
0
32
11
0
0
0
3
0
1
11
1
3
3
32
Italy
Number
0
1
0
0
0
2
0
1
1
0
2
0
0
0
0
7
0
1
1
0
1
0
0
2
1
1
1
7
Luxembourg
Number
2
17
6
4
8
7
2
14
4
1
3
3
0
2
0
73
18
1
0
1
8
0
16
14
1
16
2
73
Netherlands
Number
0
1
0
0
0
4
0
0
0
1
1
1
1
0
0
9
2
2
0
2
0
0
0
3
0
2
0
9
Norway
Number
Europe
Table of Contents
Print
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Sector focus

Sale to management
Total divestment
Exit route
Number of companies
0
0
0
0
1
0
0
4
1
0
2
0
0
0
0
8
3
0
0
0
1
0
0
3
1
0
0
8
Poland
Number
1
2
1
0
0
1
0
3
0
1
0
0
0
2
0
11
0
0
0
0
0
0
7
1
0
2
2
11
Portugal
Number
0
0
0
0
0
0
0
0
1
0
0
1
0
0
0
2
1
0
0
0
0
0
0
1
0
0
0
2
Romania
Number
1
2
1
1
2
2
3
9
2
1
0
1
0
4
0
29
8
4
1
3
4
1
2
5
0
6
2
29
Spain
Number
0
6
4
0
0
2
1
12
4
1
2
6
0
0
0
38
10
6
3
3
1
1
1
13
1
2
3
38
Sweden
Number
0
3
1
0
0
0
0
6
1
0
2
3
0
0
0
16
4
2
1
1
1
1
1
2
1
1
3
16
Switzerland
Number
0
0
0
0
0
0
0
1
0
1
1
0
0
0
0
3
1
0
0
0
1
0
1
0
0
0
0
3
Ukraine
Number
1
20
22
4
13
19
5
28
24
4
13
10
1
7
1
172
41
15
2
13
29
0
18
36
7
30
6
172
UK
Number
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
1
0
0
0
1
Other CEE*
Number
Europe
Table of Contents
Print
Table of Contents
Europe
Print

Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Q2 2010
Q3 2010
Q4 2010
715,530
19,170
795,210
1,529,910
78,150
2,518,320
51,690
1,199,440
5,377,510
187,970
161,750
425,430
775,150
390,260
1,827,470
294,890
491,780
3,779,550
144,140
97,590
180,980
422,710
347,310
3,602,370
10,100
348,180
4,730,670
417,260
203,350
137,360
757,970
212,590
2,349,110
140,000
417,630
3,877,300
459,800
119,260
578,820
1,157,880
1,481,190
4,844,690
228,080
435,430
8,147,270
164,050
33,900
293,400
491,350
168,040
2,603,710
553,060
334,320
4,150,480
149,490
189,710
588,240
927,440
692,340
2,335,390
105,000
517,800
4,577,970
269,250
137,930
347,600
754,780
222,790
1,732,860
61,000
366,770
3,138,200
Fund ownership type

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Investments - Market statistics (by country of portfolio company)

Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Q2 2010
Q3 2010
Q4 2010
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
30,042
443,141
443,423
916,607
1,258,061
77,306
464,297
2,396,986
5,113,257
34,044
497,090
413,837
944,971
806,241
209,835
216,275
2,238,955
4,416,277
30,084
405,153
434,456
869,694
1,064,150
153,240
626,793
2,435,869
5,149,746
45,213
516,785
503,955
1,065,952
1,360,052
247,031
698,527
5,195,060
8,566,622
24,954
376,873
331,402
733,229
1,521,318
203,471
394,793
5,354,829
8,207,640
26,888
424,643
535,425
986,956
1,750,503
171,822
499,289
6,350,934
9,759,503
22,774
385,056
420,759
828,589
1,862,213
43,071
694,846
7,246,138
10,674,856
36,692
543,848
384,350
964,890
1,232,495
72,347
145,816
10,174,384
12,589,932
Number of companies
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Q2 2010
Q3 2010
Q4 2010
127
479
292
885
209
32
45
150
1,312
123
480
310
900
214
36
47
170
1,358
127
506
302
926
208
41
42
164
1,366
139
596
382
1,095
238
52
49
167
1,591
123
482
262
861
245
37
46
158
1,342
106
530
298
924
263
34
32
199
1,447
106
483
308
893
318
27
34
209
1,476
126
547
316
981
275
38
33
232
1,555
Stage focus
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Table of Contents
Europe
Print
Divestments - Market statistics (by country of portfolio company)

Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Q2 2010
Q3 2010
Q4 2010

Sale to management
Total divestment
622,159
47,073
0
47,073
1,073,185
14,952
56,002
132,204
81,771
155,034
41,486
2,223,867
324,767
391,176
4,218
386,958
583,151
11,570
31,366
151,145
77,394
192,503
67,654
1,830,726
765,798
271,360
1,043
270,317
1,105,403
37,227
206,306
366,232
176,258
109,941
106,047
3,144,572
1,706,528
533,459
6,425
527,034
1,308,387
26,258
90,407
392,183
145,141
158,908
66,493
4,427,765
1,463,067
658,861
559,803
99,058
931,153
13,708
96,554
1,066,521
147,041
162,118
189,968
4,728,991
923,020
348,761
226,561
122,200
2,207,760
17,741
168,581
922,192
28,445
198,994
140,409
4,955,902
1,114,759
358,913
154,416
204,497
445,085
28,147
190,215
1,579,457
132,356
213,176
72,634
4,134,743
753,141
618,925
57,859
561,066
500,284
51,918
146,226
2,700,804
143,720
258,508
35,455
5,208,982
Number of companies
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Q2 2010
Q3 2010
Q4 2010
86
15
0
15
97
96
51
28
8
45
22
437
79
33
1
32
88
94
37
23
8
60
28
441
84
54
3
51
112
113
34
43
7
46
33
517
125
45
2
43
136
144
44
60
18
67
31
657
90
47
5
42
124
153
41
44
6
50
31
579
98
49
7
42
88
112
47
44
4
65
23
522
93
44
6
38
100
146
45
86
17
67
17
608
86
49
4
45
100
159
56
89
9
68
13
624
Exit route
Exit route
Sale to management
Total divestment
Table of Contents
Austria
Print

2009
2010
Amount
Amount
274,250
11,800
286,050
280
286,330
95.8
4.1
99.9
0.1
100.0
192,800
75,500
268,300
130
268,430
71.8
28.1
100.0
0.0
100.0
51,800
8,250
0
60,050
80,000
280
146,000
0
286,330
18.1
2.9
0.0
21.0
27.9
0.1
51.0
0.0
100.0
17,600
9,000
0
26,600
0
36,000
190,000
15,830
268,430
6.6
3.4
0.0
9.9
0.0
13.4
70.8
5.9
100.0
0
0
0
0
0
0
6,000
210,450
0
0
0.0
0.0
0.0
0.0
0.0
0.0
2.1
73.6
0.0
0.0
0
61,880
0
0
0
0
0
101,430
1,890
12,000
0.0
23.1
0.0
0.0
0.0
0.0
0.0
37.8
0.7
4.5
0
6,000
0
63,600
286,050
0.0
2.1
0.0
22.2
100.0
0
11,100
0
80,000
268,300
0.0
4.1
0.0
29.8
100.0
222,450
146,050
76,400
0
63,600
286,050
77.8
51.1
26.7
0.0
22.2
100.0
164,300
102,300
62,000
24,000
80,000
268,300
61.2
38.1
23.1
8.9
29.8
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Austria
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
40,000
8,250
0
48,250
0
0
0
0
48,250
1
1
0
2
0
0
0
0
2
40,000
8,250
0
24,125
0
0
0
0
24,125
2,100
9,000
0
11,100
0
0
0
0
11,100
1
1
0
2
0
0
0
0
2
2,100
9,000
0
5,550
0
0
0
0
5,550
0
8,250
0
0
0
0
0
40,000
48,250
0
1
0
0
0
0
0
1
2
0
8,250
0
0
0
0
0
40,000
24,125
0
0
0
2,100
0
0
9,000
0
11,100
0
0
0
1
0
0
1
0
2
0
0
0
2,100
0
0
9,000
0
5,550
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
8,250
0
0
0
0
0
40,000
48,250
0
1
0
0
0
0
0
1
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,100
0
0
9,000
0
11,100
0
0
0
1
0
0
1
0
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Austria
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
5,877
12,393
11,779
30,049
45,437
5,096
15,440
41,531
137,553
4.3
9.0
8.6
21.8
33.0
3.7
11.2
30.2
100.0
31
18
9
56
16
3
4
13
90
33.0
19.1
9.6
61.7
17.0
3.2
4.3
13.8
100.0
5,869
5,506
17,524
28,899
27,974
7,496
5,325
57,543
127,236
4.6
4.3
13.8
22.7
22.0
5.9
4.2
45.2
100.0
34
6
15
55
14
4
2
12
86
39.1
6.9
17.2
63.2
16.1
4.6
2.3
13.8
100.0
0
27,779
590
18,013
5,193
18,917
3,000
12,761
3,590
9,525
8,640
10,393
4,000
0
15,152
137,553
14,689
0.0
20.2
0.4
13.1
3.8
13.8
2.2
9.3
2.6
6.9
6.3
7.6
2.9
0.0
11.0
100.0
10.7
0
26
4
7
7
8
1
4
2
4
1
15
1
0
10
90
13
0.0
28.9
4.4
7.8
7.8
8.9
1.1
4.4
2.2
4.4
1.1
16.7
1.1
0.0
11.1
100.0
14.4
0
39,884
10,775
1,132
24,250
18,202
0
1,885
4,000
5,100
0
15,689
0
6,320
0
127,236
22,454
0.0
31.3
8.5
0.9
19.1
14.3
0.0
1.5
3.1
4.0
0.0
12.3
0.0
5.0
0.0
100.0
17.6
0
22
9
5
8
11
0
3
2
3
0
21
0
2
0
86
15
0.0
25.6
10.5
5.8
9.3
12.8
0.0
3.5
2.3
3.5
0.0
24.4
0.0
2.3
0.0
100.0
17.4
123,509
14,044
137,553
89.8
10.2
100.0
82
9
90
90.1
9.9
100.0
65,967
61,270
127,236
51.8
48.2
100.0
71
20
86
78.0
22.0
100.0
70,519
66,824
51.3
48.6
36
52
40.0
57.8
67,691
59,545
53.2
46.8
33
56
37.1
62.9
209
137,553
87,449
0.2
100.0
63.6
2
90
42
2.2
100.0
46.7
0
127,236
98,976
0.0
100.0
77.8
0
86
41
0.0
100.0
47.7
85,495
50,058
2,000
137,553
62.2
36.4
1.5
100.0
76
13
1
90
84.4
14.4
1.1
100.0
81,656
45,581
0
127,236
64.2
35.8
0.0
100.0
75
11
0
86
87.2
12.8
0.0
100.0
28,116
8,640
7,650
20.4
6.3
5.6
9
1
1
10.0
1.1
1.1
36,360
6,026
3,195
28.6
4.7
2.5
8
2
1
9.3
2.3
1.2
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Other European countries
Non-European countries
Total investment
Main non-domestic investments
2009
2010
Germany
Germany
Hungary
Switzerland
Czech Republic
Czech Republic
Table of Contents
Austria
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
26,531
15,000
0
0
41,531
63.9
36.1
0.0
0.0
100.0
12
1
0
0
13
92.3
7.7
0.0
0.0
100.0
25,400
32,143
0
0
57,543
44.1
55.9
0.0
0.0
100.0
11
2
0
0
12
84.6
15.4
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
89,854
39,772
7,927
137,553
65.3
28.9
5.8
100.0
39
19
33
90
42.9
20.9
36.3
100.0
104,182
17,185
5,869
127,236
81.9
13.5
4.6
100.0
45
10
34
86
50.6
11.2
38.2
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Austria
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
6,377
40,572
25,095
72,045
42,194
5,096
9,529
57,236
186,099
3.4
21.8
13.5
38.7
22.7
2.7
5.1
30.8
100.0
32
30
14
72
16
3
4
13
105
28.6
26.8
12.5
67.9
14.3
2.7
3.6
11.6
100.0
5,869
11,761
23,800
41,430
26,910
7,496
6,870
615,795
698,500
0.8
1.7
3.4
5.9
3.9
1.1
1.0
88.2
100.0
34
10
19
62
13
4
2
9
89
37.4
11.0
20.9
69.2
14.3
4.4
2.2
9.9
100.0
0
38,354
6,034
18,013
14,406
25,236
3,000
22,250
3,590
11,375
0
42,847
0
0
994
186,099
52,933
0.0
20.6
3.2
9.7
7.7
13.6
1.6
12.0
1.9
6.1
0.0
23.0
0.0
0.0
0.5
100.0
28.4
0
32
6
7
7
12
1
5
2
5
0
26
0
0
2
105
25
0.0
30.5
5.7
6.7
6.7
11.4
1.0
4.8
1.9
4.8
0.0
24.8
0.0
0.0
1.9
100.0
23.8
0
622,895
2,503
1,132
7,806
19,153
0
821
4,000
5,100
0
33,391
0
1,700
0
698,500
25,583
0.0
89.2
0.4
0.2
1.1
2.7
0.0
0.1
0.6
0.7
0.0
4.8
0.0
0.2
0.0
100.0
3.7
0
24
7
5
6
11
0
2
2
3
0
28
0
1
0
89
18
0.0
27.0
7.9
5.6
6.7
12.4
0.0
2.2
2.2
3.4
0.0
31.5
0.0
1.1
0.0
100.0
20.2
135,244
50,855
186,099
72.7
27.3
100.0
88
22
105
80.0
20.0
100.0
660,830
37,670
698,500
94.6
5.4
100.0
75
18
89
80.6
19.4
100.0
61,541
124,349
33.1
66.8
36
68
34.0
64.2
631,661
66,840
90.4
9.6
32
61
34.4
65.6
209
186,099
94,322
0.1
100.0
50.7
2
105
45
1.9
100.0
42.9
0
698,500
662,996
0.0
100.0
94.9
0
89
38
0.0
100.0
42.7
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Austria
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
57,236
0
0
0
57,236
100.0
0.0
0.0
0.0
100.0
13
0
0
0
13
100.0
0.0
0.0
0.0
100.0
4,807
16,600
0
594,388
615,795
0.8
2.7
0.0
96.5
100.0
8
1
0
1
9
80.0
10.0
0.0
10.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
8,658
590
1,100
2,583
8,551
3,000
3,690
0
1,025
0
42,847
0
0
0
72,045
40,410
0.0
12.0
0.8
1.5
3.6
11.9
4.2
5.1
0.0
1.4
0.0
59.5
0.0
0.0
0.0
100.0
56.1
0
23
4
4
4
6
1
2
0
2
0
26
0
0
0
72
17
0.0
31.9
5.6
5.6
5.6
8.3
1.4
2.8
0.0
2.8
0.0
36.1
0.0
0.0
0.0
100.0
23.6
0
7,250
640
833
1,475
7,137
0
0
0
1,800
0
22,295
0
0
0
41,430
15,807
0.0
17.5
1.5
2.0
3.6
17.2
0.0
0.0
0.0
4.3
0.0
53.8
0.0
0.0
0.0
100.0
38.2
0
19
5
4
3
5
0
0
0
1
0
25
0
0
0
62
11
0.0
30.6
8.1
6.5
4.8
8.1
0.0
0.0
0.0
1.6
0.0
40.3
0.0
0.0
0.0
100.0
17.7
0
29,696
5,444
16,913
11,823
16,685
0
18,560
3,590
10,350
0
0
0
0
994
114,055
12,523
0.0
26.0
4.8
14.8
10.4
14.6
0.0
16.3
3.1
9.1
0.0
0.0
0.0
0.0
0.9
100.0
11.0
0
10
2
3
3
6
0
3
2
3
0
0
0
0
2
34
9
0.0
29.4
5.9
8.8
8.8
17.6
0.0
8.8
5.9
8.8
0.0
0.0
0.0
0.0
5.9
100.0
26.5
0
615,645
1,863
299
6,331
12,016
0
821
4,000
3,300
0
11,096
0
1,700
0
657,071
9,777
0.0
93.7
0.3
0.0
1.0
1.8
0.0
0.1
0.6
0.5
0.0
1.7
0.0
0.3
0.0
100.0
1.5
0
5
2
1
4
6
0
2
2
2
0
3
0
1
0
28
7
0.0
17.9
7.1
3.6
14.3
21.4
0.0
7.1
7.1
7.1
0.0
10.7
0.0
3.6
0.0
100.0
25.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Austria
Print
Divestments - Industry statistics (by country of private equity firm)

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
17,690
2,511
2,511
0
25,488
0
0
1,950
11,860
153
0
59,652
29.7
4.2
42.7
0.0
0.0
3.3
19.9
0.3
0.0
100.0
11
1
1
0
13
0
0
1
2
1
0
29
37.9
3.4
44.8
0.0
0.0
3.4
6.9
3.4
0.0
100.0
16,647
727
727
0
15,839
2,125
500
5,840
0
10,425
0
52,103
32.0
1.4
30.4
4.1
1.0
11.2
0.0
20.0
0.0
100.0
11
1
1
0
12
1
1
3
0
5
0
34
32.4
2.9
35.3
2.9
2.9
8.8
0.0
14.7
0.0
100.0
Macro-economic indicators
Number of private equity firms headquartered in country

of which
venture capital firms
buyout firms
generalist firms
Capital under management ( million)
of which
buyout firms
generalist firms
Private equity investment as % of GDP
investments under market statistics
investments under industry statistics
GDP ( billion)*
Private consumption ( billion)*
Public consumption ( billion)*
Consumer prices (2010=100)*
Producer prices (2010=100)*
Interest rates (3-month - EURIBOR - offered rate)*
Interest rates (10-year - harmonised government bond yield)*
Retail sales (2005=100)*
Unemployment rate*
M&A
Value ( million)
Number of completed deals
IPOs
Value ( million)
Number of listings
2009
2010
44
17
15
12
3,260
566
1,378
1,317
0.07%
0.05%
274
149
55
98.3
97.3
0.7%
3.9%
103.8
7.2%
0.25%
0.04%
284
153
55
100.0
100.0
1.0%
3.2%
106.0
6.9%
2,903
134
4,009
133
0
0
5
1
Source: Thomson Reuters

* DATASTREAM
Note: Number and amount of M&A deals are split per country based on the location of the target
Number and amount of IPOs are split per country based on the location of the issuer
Number of private equity firms in existence: firms with at least one office in Europe, and that manage at least one direct investment programme/fund
Table of Contents
Austria
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
49,114
0
0
0
40,003
0
0
15,813
0
153
173
105,255
0
27,261
38,226
0
3,538
5,802
0
19,727
153
2,658
0
2,491
0
0
5,400
105,255
46.7
0.0
38.0
0.0
0.0
15.0
0.0
0.1
0.2
100.0
9
0
0
0
15
0
0
4
0
1
1
30
0.0
25.9
36.3
0.0
3.4
5.5
0.0
18.7
0.1
2.5
0.0
2.4
0.0
0.0
5.1
100.0
0
8
1
0
2
6
0
3
1
1
0
5
0
0
3
30
30.0
0.0
50.0
0.0
0.0
13.3
0.0
3.3
3.3
100.0
15,595
727
727
0
16,339
2,125
1,100
2,902
0
14,156
0
52,944
0.0
26.7
3.3
0.0
6.7
20.0
0.0
10.0
3.3
3.3
0.0
16.7
0.0
0.0
10.0
100.0
0
15,370
1,663
6,863
10,292
0
600
3,996
1,263
6,284
0
6,615
0
0
0
52,944
29.5
1.4
30.9
4.0
2.1
5.5
0.0
26.7
0.0
100.0
10
1
1
0
13
1
2
2
0
5
0
34
29.4
2.9
38.2
2.9
5.9
5.9
0.0
14.7
0.0
100.0
0.0
29.0
3.1
13.0
19.4
0.0
1.1
7.5
2.4
11.9
0.0
12.5
0.0
0.0
0.0
100.0
0
7
3
3
7
0
1
2
3
1
0
7
0
0
0
34
0.0
20.6
8.8
8.8
20.6
0.0
2.9
5.9
8.8
2.9
0.0
20.6
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Austria
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
2,988
0
0
0
14,756
0
0
0
0
0
173
17,917
0
10,536
0
0
1,038
3,852
0
0
0
0
0
2,491
0
0
0
17,917
16.7
0.0
82.4
0.0
0.0
0.0
0.0
0.0
1.0
100.0
4
0
0
0
11
0
0
0
0
0
1
16
0.0
58.8
0.0
0.0
5.8
21.5
0.0
0.0
0.0
0.0
0.0
13.9
0.0
0.0
0.0
100.0
0
5
0
0
1
5
0
0
0
0
0
5
0
0
0
16
25.0
0.0
68.8
0.0
0.0
0.0
0.0
0.0
6.3
100.0
9,724
727
727
0
6,686
0
500
2,902
0
1,090
0
21,629
0.0
31.3
0.0
0.0
6.3
31.3
0.0
0.0
0.0
0.0
0.0
31.3
0.0
0.0
0.0
100.0
0
2,117
1,663
1,090
7,839
0
0
1,143
1,163
0
0
6,615
0
0
0
21,629
45.0
3.4
30.9
0.0
2.3
13.4
0.0
5.0
0.0
100.0
7
1
1
0
11
0
1
2
0
1
0
23
30.4
4.3
47.8
0.0
4.3
8.7
0.0
4.3
0.0
100.0
0.0
9.8
7.7
5.0
36.2
0.0
0.0
5.3
5.4
0.0
0.0
30.6
0.0
0.0
0.0
100.0
0
3
3
1
6
0
0
1
2
0
0
7
0
0
0
23
0.0
13.0
13.0
4.3
26.1
0.0
0.0
4.3
8.7
0.0
0.0
30.4
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Austria
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
46,126
0
0
0
25,247
0
0
15,813
0
153
0
87,339
0
16,725
38,226
0
2,500
1,950
0
19,727
153
2,658
0
0
0
0
5,400
87,339
52.8
0.0
28.9
0.0
0.0
18.1
0.0
0.2
0.0
100.0
5
0
0
0
4
0
0
4
0
1
0
14
0.0
19.1
43.8
0.0
2.9
2.2
0.0
22.6
0.2
3.0
0.0
0.0
0.0
0.0
6.2
100.0
0
3
1
0
1
1
0
3
1
1
0
0
0
0
3
14
35.7
0.0
28.6
0.0
0.0
28.6
0.0
7.1
0.0
100.0
5,871
0
0
0
9,653
2,125
600
0
0
13,066
0
31,315
0.0
21.4
7.1
0.0
7.1
7.1
0.0
21.4
7.1
7.1
0.0
0.0
0.0
0.0
21.4
100.0
0
13,253
0
5,773
2,453
0
600
2,853
100
6,284
0
0
0
0
0
31,315
18.7
0.0
30.8
6.8
1.9
0.0
0.0
41.7
0.0
100.0
3
0
0
0
2
1
1
0
0
4
0
11
27.3
0.0
18.2
9.1
9.1
0.0
0.0
36.4
0.0
100.0
0.0
42.3
0.0
18.4
7.8
0.0
1.9
9.1
0.3
20.1
0.0
0.0
0.0
0.0
0.0
100.0
0
4
0
2
1
0
1
1
1
1
0
0
0
0
0
11
0.0
36.4
0.0
18.2
9.1
0.0
9.1
9.1
9.1
9.1
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Geographic flows of private equity

Investments by local private equity players
(-) Foreign investments by local private equity players
(+) Local investments by foreign private equity players
Total investment in country
Divestments by local private equity players

(-) Foreign divestments by local private equity players
(+) Local divestments by foreign private equity players
Total divestment in country
2009
2010
Amount
Amount
137,553
(52,058)
100,604
186,099
127,236
(45,581)
616,845
698,500
Amount
Amount
59,652
(21,173)
66,776
105,255
52,103
(6,542)
7,384
52,944
Table of Contents
Baltics
Print

2009
2010
Amount
Amount
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
85,620
0
85,620
0
85,620
100.0
0.0
100.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
7,200
8,420
20,000
35,620
20,000
0
0
30,000
85,620
8.4
9.8
23.4
41.6
23.4
0.0
0.0
35.0
100.0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
2,600
880
2,300
0
900
0
61,810
0
4,900
0.0
3.0
1.0
2.7
0.0
1.1
0.0
72.2
0.0
5.7
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
4,450
7,090
0
690
85,620
5.2
8.3
0.0
0.8
100.0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
84,930
23,120
61,810
0
690
85,620
99.2
27.0
72.2
0.0
0.8
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Baltics
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
8,420
0
8,420
20,000
0
0
0
28,420
0
1
0
1
1
0
0
0
2
0
8,420
0
8,420
20,000
0
0
0
14,210
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
28,420
28,420
0
0
0
0
0
0
0
2
2
0
0
0
0
0
0
0
14,210
14,210
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
8,420
8,420
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
20,000
20,000
0
0
0
0
0
0
0
1
1

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Baltics
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
451
3,970
0
4,421
1,961
300
0
0
6,682
6.7
59.4
0.0
66.2
29.3
4.5
0.0
0.0
100.0
2
11
0
12
4
1
0
0
17
11.1
61.1
0.0
72.2
22.2
5.6
0.0
0.0
100.0
0
3,852
889
4,741
4,571
0
3,200
14,906
27,417
0.0
14.0
3.2
17.3
16.7
0.0
11.7
54.4
100.0
0
16
3
19
3
0
1
3
26
0.0
61.5
11.5
73.1
11.5
0.0
3.8
11.5
100.0
0
614
0
0
967
1,692
0
300
145
964
0
1,800
0
0
200
6,682
2,311
0.0
9.2
0.0
0.0
14.5
25.3
0.0
4.5
2.2
14.4
0.0
26.9
0.0
0.0
3.0
100.0
34.6
0
2
0
0
4
4
0
1
1
2
0
2
0
0
1
17
6
0.0
11.8
0.0
0.0
23.5
23.5
0.0
5.9
5.9
11.8
0.0
11.8
0.0
0.0
5.9
100.0
35.3
0
516
0
0
4,319
1,897
4,600
9,468
0
1,000
0
529
0
5,088
0
27,417
5,450
0.0
1.9
0.0
0.0
15.8
6.9
16.8
34.5
0.0
3.6
0.0
1.9
0.0
18.6
0.0
100.0
19.9
0
2
0
0
7
9
2
1
0
1
0
3
0
1
0
26
14
0.0
7.7
0.0
0.0
26.9
34.6
7.7
3.8
0.0
3.8
0.0
11.5
0.0
3.8
0.0
100.0
53.8
2,793
3,888
6,682
41.8
58.2
100.0
8
9
17
47.1
52.9
100.0
24,929
2,488
27,417
90.9
9.1
100.0
15
11
26
57.7
42.3
100.0
2,793
3,246
41.8
48.6
6
7
35.3
41.2
11,015
13,232
40.2
48.3
12
13
44.4
48.1
642
6,682
3,583
9.6
100.0
53.6
4
17
8
23.5
100.0
47.1
3,171
27,417
20,482
11.6
100.0
74.7
2
26
13
7.4
100.0
50.0
5,149
982
550
6,682
77.1
14.7
8.2
100.0
14
2
1
17
82.4
11.8
5.9
100.0
16,956
9,773
689
27,417
61.8
35.6
2.5
100.0
20
3
3
26
76.9
11.5
11.5
100.0
982
550
0
14.7
8.2
0.0
2
1
0
11.8
5.9
0.0
9,468
531
200
34.5
1.9
0.7
1
2
1
3.8
7.7
3.8
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
United Kingdom
Poland
US
US
Finland
Table of Contents
Baltics
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
14,906
0
0
0
14,906
100.0
0.0
0.0
0.0
100.0
3
0
0
0
3
100.0
0.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
4,548
532
1,601
6,682
68.1
8.0
24.0
100.0
12
3
4
17
63.2
15.8
21.1
100.0
24,153
2,263
1,002
27,417
88.1
8.3
3.7
100.0
14
10
2
26
53.8
38.5
7.7
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Baltics
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
451
2,437
0
2,888
2,999
300
0
500
6,687
6.7
36.4
0.0
43.2
44.8
4.5
0.0
7.5
100.0
2
8
0
9
5
1
0
1
16
11.8
47.1
0.0
58.8
29.4
5.9
0.0
5.9
100.0
786
3,685
732
5,203
17,005
1,500
3,200
5,438
32,346
2.4
11.4
2.3
16.1
52.6
4.6
9.9
16.8
100.0
1
13
2
16
6
1
1
2
26
3.8
50.0
7.7
61.5
23.1
3.8
3.8
7.7
100.0
0
614
0
0
2,504
160
0
300
145
964
0
1,800
0
0
200
6,687
1,761
0.0
9.2
0.0
0.0
37.5
2.4
0.0
4.5
2.2
14.4
0.0
26.9
0.0
0.0
3.0
100.0
26.3
0
2
0
0
6
1
0
1
1
2
0
2
0
0
1
16
5
0.0
12.5
0.0
0.0
37.5
6.3
0.0
6.3
6.3
12.5
0.0
12.5
0.0
0.0
6.3
100.0
31.3
5,924
516
0
0
3,986
8,533
4,600
0
1,500
1,670
0
529
0
5,088
0
32,346
5,459
18.3
1.6
0.0
0.0
12.3
26.4
14.2
0.0
4.6
5.2
0.0
1.6
0.0
15.7
0.0
100.0
16.9
2
2
0
0
5
8
2
0
1
2
0
3
0
1
0
26
12
7.7
7.7
0.0
0.0
19.2
30.8
7.7
0.0
3.8
7.7
0.0
11.5
0.0
3.8
0.0
100.0
46.2
3,093
3,594
6,687
46.3
53.7
100.0
8
8
16
50.0
50.0
100.0
29,259
3,087
32,346
90.5
9.5
100.0
17
9
26
65.4
34.6
100.0
2,011
4,034
30.1
60.3
5
7
31.3
43.8
24,086
5,089
74.5
15.7
15
9
57.7
34.6
642
6,687
2,251
9.6
100.0
33.7
4
16
6
25.0
100.0
37.5
3,171
32,346
24,086
9.8
100.0
74.5
2
26
15
7.7
100.0
57.7
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Baltics
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
500
0
0
0
500
100.0
0.0
0.0
0.0
100.0
1
0
0
0
1
100.0
0.0
0.0
0.0
100.0
5,438
0
0
0
5,438
100.0
0.0
0.0
0.0
100.0
2
0
0
0
2
100.0
0.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
501
0
0
883
160
0
0
145
200
0
800
0
0
200
2,888
1,761
0.0
17.3
0.0
0.0
30.6
5.5
0.0
0.0
5.0
6.9
0.0
27.7
0.0
0.0
6.9
100.0
61.0
0
1
0
0
3
1
0
0
1
1
0
1
0
0
1
9
5
0.0
11.1
0.0
0.0
33.3
11.1
0.0
0.0
11.1
11.1
0.0
11.1
0.0
0.0
11.1
100.0
55.6
0
166
0
0
816
2,023
0
0
0
1,670
0
528
0
0
0
5,203
4,059
0.0
3.2
0.0
0.0
15.7
38.9
0.0
0.0
0.0
32.1
0.0
10.1
0.0
0.0
0.0
100.0
78.0
0
1
0
0
4
7
0
0
0
2
0
2
0
0
0
16
10
0.0
6.3
0.0
0.0
25.0
43.8
0.0
0.0
0.0
12.5
0.0
12.5
0.0
0.0
0.0
100.0
62.5
0
113
0
0
1,622
0
0
300
0
764
0
1,000
0
0
0
3,799
0
0.0
3.0
0.0
0.0
42.7
0.0
0.0
7.9
0.0
20.1
0.0
26.3
0.0
0.0
0.0
100.0
0.0
0
1
0
0
3
0
0
1
0
1
0
1
0
0
0
7
0
0.0
14.3
0.0
0.0
42.9
0.0
0.0
14.3
0.0
14.3
0.0
14.3
0.0
0.0
0.0
100.0
0.0
5,924
350
0
0
3,170
6,510
4,600
0
1,500
0
0
1
0
5,088
0
27,143
1,401
21.8
1.3
0.0
0.0
11.7
24.0
16.9
0.0
5.5
0.0
0.0
0.0
0.0
18.7
0.0
100.0
5.2
2
1
0
0
1
1
2
0
1
0
0
1
0
1
0
10
2
20.0
10.0
0.0
0.0
10.0
10.0
20.0
0.0
10.0
0.0
0.0
10.0
0.0
10.0
0.0
100.0
20.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Baltics
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
500
0
0
0
0
0
0
0
0
0
724
1,224
40.8
0.0
1
0
0
0
0
0
0
0
0
0
1
2
0.0
0.0
0.0
0.0
0.0
0.0
59.2
100.0
50.0
0.0
1,500
0
0
0
5,387
0
0
0
0
0
0
6,887
0.0
0.0
0.0
0.0
0.0
0.0
50.0
100.0
21.8
0.0
1
0
0
0
4
0
0
0
0
0
0
5
78.2
0.0
0.0
0.0
0.0
0.0
0.0
100.0
20.0
0.0
80.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
2009

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Private consumption*
Public consumption*
Consumer prices (index see legend)*
Producer prices (index see legend)*
Interest rates (3-month)**
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2010
2009
2010
Estonia
Latvia
Lithuania
Estonia
Latvia
Lithuania
Total
Baltics
Total
Baltics
14
7
4
3
733
124
431
178
14
7
0
(a) 169.9
(d) 174.8
2.6%
8.0%
113.0
10.2%
19
11
0
(b) 170.8
(c) 136.7
5.4%
12.4%
93.4
16.0%
27
18
0
(c) 127.1
(c) 117.8
n.a.
14.0%
115.0
9.6%
15
n.a.
0
(a) 175.0
(d) 180.6
1.0%
6.0%
110.0
12.3%
18
11
n.a.
(b) 169.0
(c) 140.9
0.6%
10.3%
91.5
14.3%
27
18
0
(c) 128.8
(c) 130.0
n.a.
5.6%
112.6
14.5%
0.01%
0.01%
59
-
0.05%
0.05%
60
-
60
27
88
15
238
31
381
28
68
29
419
37
385
73
868
94
0
0
0
0
0
0
0
0
0
0
28
1
0
0
28
1

* DATASTREAM
(a) 1997=100
(b) 2000=100
(c) 2005=100
(d) 1995=100
Table of Contents
Baltics
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
500
0
0
0
0
0
0
0
0
0
724
1,224
0
0
0
0
0
0
0
500
724
0
0
0
0
0
0
1,224
40.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
59.2
100.0
1
0
0
0
0
0
0
0
0
0
1
2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
40.8
59.2
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
2
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
50.0
100.0
1,500
0
0
0
6,904
0
0
0
0
0
0
8,404
0.0
0.0
0.0
0.0
0.0
0.0
0.0
50.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
2,600
1,517
0
1,800
0
0
1,500
0
0
0
987
0
0
0
8,404
17.8
0.0
82.2
0.0
0.0
0.0
0.0
0.0
0.0
100.0
1
0
0
0
5
0
0
0
0
0
0
6
16.7
0.0
83.3
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
30.9
18.0
0.0
21.4
0.0
0.0
17.8
0.0
0.0
0.0
11.7
0.0
0.0
0.0
100.0
0
1
1
0
2
0
0
1
0
0
0
1
0
0
0
6
0.0
16.7
16.7
0.0
33.3
0.0
0.0
16.7
0.0
0.0
0.0
16.7
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Baltics
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
0
0
0
0
724
724
0
0
0
0
0
0
0
0
724
0
0
0
0
0
0
724
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
0
0
0
0
0
0
1
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
2,804
0
0
0
0
0
0
2,804
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
1,517
0
300
0
0
0
0
0
0
987
0
0
0
2,804
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
3
0
0
0
0
0
0
3
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
54.1
0.0
10.7
0.0
0.0
0.0
0.0
0.0
0.0
35.2
0.0
0.0
0.0
100.0
0
0
1
0
1
0
0
0
0
0
0
1
0
0
0
3
0.0
0.0
33.3
0.0
33.3
0.0
0.0
0.0
0.0
0.0
0.0
33.3
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Baltics
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
500
0
0
0
0
0
0
0
0
0
0
500
100.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
1
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
500
0
0
0
0
0
0
0
500
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
1,500
0
0
0
4,100
0
0
0
0
0
0
5,600
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
2,600
0
0
1,500
0
0
1,500
0
0
0
0
0
0
0
5,600
26.8
0.0
73.2
0.0
0.0
0.0
0.0
0.0
0.0
100.0
1
0
0
0
2
0
0
0
0
0
0
3
33.3
0.0
66.7
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
46.4
0.0
0.0
26.8
0.0
0.0
26.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
1
0
0
1
0
0
1
0
0
0
0
0
0
0
3
0.0
33.3
0.0
0.0
33.3
0.0
0.0
33.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
6,682
(1,532)
1,538
6,687
27,417
(10,461)
15,390
32,346
Amount
Amount
1,224
(0)
0
1,224
6,887
(0)
1,517
8,404
Table of Contents
Belgium
Print

2009
2010
Amount
Amount
310,050
0
310,050
45,000
355,050
87.3
0.0
87.3
12.7
100.0
731,950
0
731,950
0
731,950
100.0
0.0
100.0
0.0
100.0
50,050
0
23,000
73,050
60,000
222,000
0
0
355,050
14.1
0.0
6.5
20.6
16.9
62.5
0.0
0.0
100.0
42,000
0
0
42,000
0
689,950
0
0
731,950
5.7
0.0
0.0
5.7
0.0
94.3
0.0
0.0
100.0
0
35,000
30,000
15,000
15,000
25,200
41,000
30,000
25,000
20,000
0.0
11.3
9.7
4.8
4.8
8.1
13.2
9.7
8.1
6.5
2,700
17,750
0
1,500
6,500
38,500
45,500
15,000
25,000
365,000
0.4
2.4
0.0
0.2
0.9
5.3
6.2
2.0
3.4
49.9
35,000
22,300
0
16,550
310,050
11.3
7.2
0.0
5.3
100.0
195,160
19,340
0
0
731,950
26.7
2.6
0.0
0.0
100.0
255,030
201,870
53,160
38,470
16,550
310,050
82.3
65.1
17.1
12.4
5.3
100.0
524,120
461,370
62,750
207,830
0
731,950
71.6
63.0
8.6
28.4
0.0
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Belgium
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
16,000
0
0
16,000
0
0
0
0
16,000
1
0
0
1
0
0
0
0
1
16,000
0
0
16,000
0
0
0
0
16,000
0
0
0
0
0
1,140,500
0
0
1,140,500
0
0
0
0
0
3
0
0
3
0
0
0
0
0
380,167
0
0
380,167
0
0
0
0
0
0
0
16,000
16,000
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
16,000
16,000
0
0
111,500
0
0
0
0
1,029,000
1,140,500
0
0
1
0
0
0
0
2
3
0
0
111,500
0
0
0
0
514,500
380,167
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
16,000
16,000
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
111,500
0
0
0
0
1,029,000
1,140,500
0
0
1
0
0
0
0
2
3

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Belgium
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
9,167
118,532
64,034
191,734
240,596
22,071
112,217
481,506
1,048,124
0.9
11.3
6.1
18.3
23.0
2.1
10.7
45.9
100.0
6
96
58
157
52
11
8
19
242
2.4
38.4
23.2
64.0
20.8
4.4
3.2
7.6
100.0
5,927
69,275
22,636
97,838
162,701
13,457
14,029
215,136
503,161
1.2
13.8
4.5
19.4
32.3
2.7
2.8
42.8
100.0
5
51
21
76
37
7
6
19
141
3.4
34.9
14.4
52.7
25.3
4.8
4.1
13.0
100.0
355
76,671
25,149
6,287
26,085
86,639
186
98,546
394,833
127,796
95,000
69,458
6,720
3,239
31,159
1,048,124
127,885
0.0
7.3
2.4
0.6
2.5
8.3
0.0
9.4
37.7
12.2
9.1
6.6
0.6
0.3
3.0
100.0
12.2
2
33
10
7
19
32
1
24
3
18
1
35
4
3
50
242
56
0.8
13.6
4.1
2.9
7.9
13.2
0.4
9.9
1.2
7.4
0.4
14.5
1.7
1.2
20.7
100.0
23.1
11,000
49,964
17,333
7,573
11,975
32,773
5,187
85,358
7,200
32,046
99,000
124,553
7,600
11,600
0
503,161
119,124
2.2
9.9
3.4
1.5
2.4
6.5
1.0
17.0
1.4
6.4
19.7
24.8
1.5
2.3
0.0
100.0
23.7
1
13
4
10
13
37
2
17
2
15
2
22
2
1
0
141
50
0.7
9.2
2.8
7.1
9.2
26.2
1.4
12.1
1.4
10.6
1.4
15.6
1.4
0.7
0.0
100.0
35.5
844,770
203,354
1,048,124
80.6
19.4
100.0
158
93
242
62.9
37.1
100.0
291,637
211,525
503,161
58.0
42.0
100.0
87
58
141
60.0
40.0
100.0
340,979
640,189
32.5
61.1
93
137
37.5
55.2
272,470
230,692
54.2
45.8
41
101
28.9
71.1
66,955
1,048,124
396,942
6.4
100.0
37.9
18
242
111
7.3
100.0
45.9
0
503,161
350,170
0.0
100.0
69.6
0
141
58
0.0
100.0
41.1
937,590
104,360
6,175
1,048,124
89.5
10.0
0.6
100.0
188
49
5
242
77.7
20.2
2.1
100.0
234,596
253,414
15,151
503,161
46.6
50.4
3.0
100.0
89
44
8
141
63.1
31.2
5.7
100.0
37,934
26,427
16,663
3.6
2.5
1.6
4
19
8
1.7
7.9
3.3
91,986
50,118
32,307
18.3
10.0
6.4
8
2
1
5.7
1.4
0.7
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Switzerland
France
Netherlands
Luxembourg
France
Italy
Table of Contents
Belgium
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
31,700
179,807
270,000
0
481,506
6.6
37.3
56.1
0.0
100.0
16
3
1
0
19
80.0
15.0
5.0
0.0
100.0
61,539
153,597
0
0
215,136
28.6
71.4
0.0
0.0
100.0
14
5
0
0
19
73.7
26.3
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
1,005,857
9,897
32,369
1,048,124
96.0
0.9
3.1
100.0
186
8
50
242
76.2
3.3
20.5
100.0
490,897
12,264
0
503,161
97.6
2.4
0.0
100.0
138
3
0
141
97.9
2.1
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Belgium
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
6,039
85,298
60,814
152,151
292,247
47,351
118,679
546,897
1,157,324
0.5
7.4
5.3
13.1
25.3
4.1
10.3
47.3
100.0
5
69
51
122
52
11
7
16
202
2.4
32.7
24.2
59.2
24.6
5.2
3.3
7.6
100.0
4,833
59,860
14,939
79,632
178,584
10,881
42,754
626,512
938,363
0.5
6.4
1.6
8.5
19.0
1.2
4.6
66.8
100.0
4
37
7
48
33
6
7
16
105
3.6
33.6
6.4
43.6
30.0
5.5
6.4
14.5
100.0
355
146,862
55,514
7,453
22,325
92,767
1,186
92,368
406,833
113,218
95,000
75,725
6,720
9,838
31,159
1,157,324
124,808
0.0
12.7
4.8
0.6
1.9
8.0
0.1
8.0
35.2
9.8
8.2
6.5
0.6
0.9
2.7
100.0
10.8
2
28
10
6
17
23
2
20
4
9
1
24
4
2
50
202
42
1.0
13.9
5.0
3.0
8.4
11.4
1.0
9.9
2.0
4.5
0.5
11.9
2.0
1.0
24.8
100.0
20.8
0
41,389
31,028
75,019
153,000
27,968
5,187
462,887
7,200
39,521
50,000
24,872
7,600
12,691
0
938,363
105,085
0.0
4.4
3.3
8.0
16.3
3.0
0.6
49.3
0.8
4.2
5.3
2.7
0.8
1.4
0.0
100.0
11.2
0
11
4
9
16
22
2
15
2
10
1
9
2
2
0
105
36
0.0
10.5
3.8
8.6
15.2
21.0
1.9
14.3
1.9
9.5
1.0
8.6
1.9
1.9
0.0
100.0
34.3
943,325
213,999
1,157,324
81.5
18.5
100.0
145
70
202
67.4
32.6
100.0
347,316
591,047
938,363
37.0
63.0
100.0
68
41
105
62.4
37.6
100.0
416,503
681,814
36.0
58.9
86
108
41.3
51.9
281,482
656,881
30.0
70.0
36
70
34.0
66.0
59,008
1,157,324
492,502
5.1
100.0
42.6
14
202
103
6.7
100.0
51.0
0
938,363
731,193
0.0
100.0
77.9
0
105
48
0.0
100.0
45.7
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Belgium
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
37,967
238,930
270,000
0
546,897
6.9
43.7
49.4
0.0
100.0
13
3
1
0
16
76.5
17.6
5.9
0.0
100.0
43,994
182,518
400,000
0
626,512
7.0
29.1
63.8
0.0
100.0
13
3
1
0
16
76.5
17.6
5.9
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
355
14,316
303
3,600
2,088
20,576
0
4,375
0
28,068
0
43,590
3,720
0
31,159
152,151
56,746
0.2
9.4
0.2
2.4
1.4
13.5
0.0
2.9
0.0
18.4
0.0
28.6
2.4
0.0
20.5
100.0
37.3
2
8
2
2
7
15
0
5
0
5
0
23
3
0
50
122
29
1.6
6.6
1.6
1.6
5.7
12.3
0.0
4.1
0.0
4.1
0.0
18.9
2.5
0.0
41.0
100.0
23.8
0
7,070
7,000
4,336
4,473
17,268
2,787
2,355
200
12,948
0
21,194
0
0
0
79,632
48,754
0.0
8.9
8.8
5.4
5.6
21.7
3.5
3.0
0.3
16.3
0.0
26.6
0.0
0.0
0.0
100.0
61.2
0
5
1
5
8
8
1
6
1
5
0
8
0
0
0
48
24
0.0
10.4
2.1
10.4
16.7
16.7
2.1
12.5
2.1
10.4
0.0
16.7
0.0
0.0
0.0
100.0
50.0
0
132,546
55,211
3,853
20,237
72,191
1,186
87,993
406,833
85,150
95,000
32,135
3,000
9,838
0
1,005,173
68,062
0.0
13.2
5.5
0.4
2.0
7.2
0.1
8.8
40.5
8.5
9.5
3.2
0.3
1.0
0.0
100.0
6.8
0
20
8
4
10
8
2
16
4
4
1
3
2
2
0
84
15
0.0
23.8
9.5
4.8
11.9
9.5
2.4
19.0
4.8
4.8
1.2
3.6
2.4
2.4
0.0
100.0
17.9
0
34,319
24,028
70,683
148,527
10,700
2,400
460,532
7,000
26,573
50,000
3,678
7,600
12,691
0
858,731
56,331
0.0
4.0
2.8
8.2
17.3
1.2
0.3
53.6
0.8
3.1
5.8
0.4
0.9
1.5
0.0
100.0
6.6
0
6
3
4
8
14
1
9
1
5
1
2
2
2
0
58
13
0.0
10.3
5.2
6.9
13.8
24.1
1.7
15.5
1.7
8.6
1.7
3.4
3.4
3.4
0.0
100.0
22.4

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Belgium
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
182,084
37,383
0
37,383
1,843
0
17,144
41,436
17,685
4,863
2,799
305,238
59.7
12.2
0.6
0.0
5.6
13.6
5.8
1.6
0.9
100.0
24
11
0
11
3
0
10
13
2
5
1
69
34.8
15.9
4.3
0.0
14.5
18.8
2.9
7.2
1.4
100.0
93,144
118,655
0
118,655
6,677
0
8,323
5,678
921
10,837
0
244,235
38.1
48.6
2.7
0.0
3.4
2.3
0.4
4.4
0.0
100.0
10
11
0
11
7
0
9
2
4
6
0
49
20.4
22.4
14.3
0.0
18.4
4.1
8.2
12.2
0.0
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate**
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
48
25
12
11
8,294
1,420
3,249
3,625
0.34%
0.31%
339
178
84
111.3
110.9
0.7%
3.9%
156.5
7.9%
0.27%
0.14%
352
185
86
113.7
118.7
1.0%
3.2%
160.0
8.3%
22,901
187
10,432
202
104
4
17
3

* DATASTREAM
** Eurostat
Table of Contents
Belgium
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
76,337
33,420
0
33,420
36,307
0
15,680
43,621
13,267
225
7,023
225,881
0
44,745
700
8,752
10,263
48,223
0
3,403
4,800
706
0
46,804
3,500
35,491
18,495
225,881
33.8
14.8
16.1
0.0
6.9
19.3
5.9
0.1
3.1
100.0
19
7
0
7
5
0
9
13
1
3
2
58
0.0
19.8
0.3
3.9
4.5
21.3
0.0
1.5
2.1
0.3
0.0
20.7
1.5
15.7
8.2
100.0
0
13
2
5
4
11
0
2
1
2
0
10
1
2
5
58
32.2
11.9
8.5
0.0
15.3
22.0
1.7
5.1
3.4
100.0
62,488
136,850
0
136,850
6,677
0
15,336
191,652
458
70,886
79,483
563,830
0.0
22.4
3.4
8.6
6.9
19.0
0.0
3.4
1.7
3.4
0.0
17.2
1.7
3.4
8.6
100.0
0
837
81,911
121
2,070
1,208
2,808
217,836
564
1,260
1,600
91,169
1,800
160,646
0
563,830
11.1
24.3
1.2
0.0
2.7
34.0
0.1
12.6
14.1
100.0
8
9
0
9
7
0
10
2
2
7
2
47
17.0
19.1
14.9
0.0
21.3
4.3
4.3
14.9
4.3
100.0
0.0
0.1
14.5
0.0
0.4
0.2
0.5
38.6
0.1
0.2
0.3
16.2
0.3
28.5
0.0
100.0
0
1
5
1
1
3
2
15
1
1
1
12
1
3
0
47
0.0
2.1
10.6
2.1
2.1
6.4
4.3
31.9
2.1
2.1
2.1
25.5
2.1
6.4
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Belgium
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
29,401
28,901
0
28,901
4,617
0
6,371
12,888
0
119
4,224
86,521
0
13,392
250
0
469
18,789
0
250
0
0
0
30,876
0
4,000
18,495
86,521
34.0
33.4
5.3
0.0
7.4
14.9
0.0
0.1
4.9
100.0
10
4
0
4
3
0
4
5
0
1
1
27
0.0
15.5
0.3
0.0
0.5
21.7
0.0
0.3
0.0
0.0
0.0
35.7
0.0
4.6
21.4
100.0
0
7
1
0
2
3
0
1
0
0
0
7
0
1
5
27
35.7
14.3
10.7
0.0
14.3
17.9
0.0
3.6
3.6
100.0
2,479
32,292
0
32,292
1,871
0
0
0
458
2,778
53
39,930
0.0
25.9
3.7
0.0
7.4
11.1
0.0
3.7
0.0
0.0
0.0
25.9
0.0
3.7
18.5
100.0
0
0
0
0
2,070
1,208
708
53
0
0
0
35,891
0
0
0
39,930
6.2
80.9
4.7
0.0
0.0
0.0
1.1
7.0
0.1
100.0
1
3
0
3
3
0
0
0
2
2
1
12
8.3
25.0
25.0
0.0
0.0
0.0
16.7
16.7
8.3
100.0
0.0
0.0
0.0
0.0
5.2
3.0
1.8
0.1
0.0
0.0
0.0
89.9
0.0
0.0
0.0
100.0
0
0
0
0
1
3
1
1
0
0
0
6
0
0
0
12
0.0
0.0
0.0
0.0
8.3
25.0
8.3
8.3
0.0
0.0
0.0
50.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Belgium
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
46,936
4,520
0
4,520
31,691
0
9,308
30,733
13,267
106
2,799
139,360
0
31,353
450
8,752
9,794
29,434
0
3,153
4,800
706
0
15,927
3,500
31,491
0
139,360
33.7
3.2
22.7
0.0
6.7
22.1
9.5
0.1
2.0
100.0
9
3
0
3
2
0
5
8
1
2
1
31
0.0
22.5
0.3
6.3
7.0
21.1
0.0
2.3
3.4
0.5
0.0
11.4
2.5
22.6
0.0
100.0
0
6
1
5
2
8
0
1
1
2
0
3
1
1
0
31
29.0
9.7
6.5
0.0
16.1
25.8
3.2
6.5
3.2
100.0
60,009
104,558
0
104,558
4,806
0
15,336
191,652
0
68,108
79,431
523,900
0.0
19.4
3.2
16.1
6.5
25.8
0.0
3.2
3.2
6.5
0.0
9.7
3.2
3.2
0.0
100.0
0
837
81,911
121
0
0
2,100
217,783
564
1,260
1,600
55,278
1,800
160,646
0
523,900
11.5
20.0
0.9
0.0
2.9
36.6
0.0
13.0
15.2
100.0
7
7
0
7
4
0
10
2
0
5
1
36
19.4
19.4
11.1
0.0
27.8
5.6
0.0
13.9
2.8
100.0
0.0
0.2
15.6
0.0
0.0
0.0
0.4
41.6
0.1
0.2
0.3
10.6
0.3
30.7
0.0
100.0
0
1
5
1
0
0
1
14
1
1
1
7
1
3
0
36
0.0
2.8
13.9
2.8
0.0
0.0
2.8
38.9
2.8
2.8
2.8
19.4
2.8
8.3
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
1,048,124
(110,534)
219,734
1,157,324
503,161
(268,565)
703,766
938,363
Amount
Amount
305,238
(155,681)
76,324
225,881
244,235
(74,318)
393,913
563,830
Table of Contents
Bulgaria
Print

2009
2010
Amount
Amount
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Bulgaria
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Bulgaria
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
4,100
2,160
6,260
0
0
0
0
6,260
0.0
65.5
34.5
100.0
0.0
0.0
0.0
0.0
100.0
0
2
1
3
0
0
0
0
3
0.0
66.7
33.3
100.0
0.0
0.0
0.0
0.0
100.0
0
3,328
0
3,328
1,230
0
0
0
4,558
0.0
73.0
0.0
73.0
27.0
0.0
0.0
0.0
100.0
0
4
0
4
2
0
0
0
6
0.0
66.7
0.0
66.7
33.3
0.0
0.0
0.0
100.0
0
0
0
0
2,500
3,760
0
0
0
0
0
0
0
0
0
6,260
6,260
0.0
0.0
0.0
0.0
39.9
60.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
1
2
0
0
0
0
0
0
0
0
0
3
3
0.0
0.0
0.0
0.0
33.3
66.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
2,253
1,075
0
1,230
0
0
0
0
0
0
0
4,558
3,328
0.0
0.0
0.0
0.0
49.4
23.6
0.0
27.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
73.0
0
0
0
0
3
1
0
2
0
0
0
0
0
0
0
6
4
0.0
0.0
0.0
0.0
50.0
16.7
0.0
33.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
66.7
6,260
0
6,260
100.0
0.0
100.0
3
0
3
100.0
0.0
100.0
4,558
0
4,558
100.0
0.0
100.0
6
0
6
100.0
0.0
100.0
2,500
3,760
39.9
60.1
1
2
33.3
66.7
2,000
2,558
43.9
56.1
1
5
16.7
83.3
0
6,260
2,500
0.0
100.0
39.9
0
3
1
0.0
100.0
33.3
0
4,558
2,000
0.0
100.0
43.9
0
6
1
0.0
100.0
16.7
1,600
2,500
2,160
6,260
25.6
39.9
34.5
100.0
1
1
1
3
33.3
33.3
33.3
100.0
2,558
2,000
0
4,558
56.1
43.9
0.0
100.0
5
1
0
6
83.3
16.7
0.0
100.0
2,500
2,160
0
39.9
34.5
0.0
1
1
0
33.3
33.3
0.0
2,000
0
0
43.9
0.0
0.0
1
0
0
16.7
0.0
0.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
United Kingdom
United Kingdom
US
-
Table of Contents
Bulgaria
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
Amount
Number of
companies
Amount
Number of
companies
6,260
0
0
6,260
100.0
0.0
0.0
100.0
3
0
0
3
100.0
0.0
0.0
100.0
4,558
0
0
4,558
100.0
0.0
0.0
100.0
6
0
0
6
100.0
0.0
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Bulgaria
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
1,600
2,437
4,037
582
0
0
180,546
185,165
0.0
0.9
1.3
2.2
0.3
0.0
0.0
97.5
100.0
0
1
2
3
2
0
0
4
9
0.0
11.1
22.2
33.3
22.2
0.0
0.0
44.4
100.0
0
1,328
0
1,328
80,910
0
0
0
82,238
0.0
1.6
0.0
1.6
98.4
0.0
0.0
0.0
100.0
0
3
0
3
5
0
0
0
8
0.0
37.5
0.0
37.5
62.5
0.0
0.0
0.0
100.0
82
0
0
0
151,983
1,600
0
31,500
0
0
0
0
0
0
0
185,165
5,146
0.0
0.0
0.0
0.0
82.1
0.9
0.0
17.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
2.8
1
0
0
0
4
1
0
3
0
0
0
0
0
0
0
9
2
11.1
0.0
0.0
0.0
44.4
11.1
0.0
33.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
22.2
320
0
0
0
4,613
1,075
0
1,230
0
0
0
75,000
0
0
0
82,238
1,328
0.4
0.0
0.0
0.0
5.6
1.3
0.0
1.5
0.0
0.0
0.0
91.2
0.0
0.0
0.0
100.0
1.6
1
0
0
0
3
1
0
2
0
0
0
1
0
0
0
8
3
12.5
0.0
0.0
0.0
37.5
12.5
0.0
25.0
0.0
0.0
0.0
12.5
0.0
0.0
0.0
100.0
37.5
185,083
82
185,165
100.0
0.0
100.0
8
1
9
88.9
11.1
100.0
82,238
0
82,238
100.0
0.0
100.0
8
0
8
100.0
0.0
100.0
4,821
180,344
2.6
97.4
2
7
22.2
77.8
75,000
7,238
91.2
8.8
1
7
12.5
87.5
0
185,165
179,321
0.0
100.0
96.8
0
9
4
0.0
100.0
44.4
0
82,238
75,000
0.0
100.0
91.2
0
8
1
0.0
100.0
12.5
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Bulgaria
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
6,046
174,500
0
0
180,546
3.3
96.7
0.0
0.0
100.0
2
2
0
0
4
50.0
50.0
0.0
0.0
100.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
Amount
Number of
companies
Amount
Number of
companies
0
0
0
0
2,437
1,600
0
0
0
0
0
0
0
0
0
4,037
1,600
0.0
0.0
0.0
0.0
60.4
39.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
39.6
0
0
0
0
2
1
0
0
0
0
0
0
0
0
0
3
1
0.0
0.0
0.0
0.0
66.7
33.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
33.3
0
0
0
0
253
1,075
0
0
0
0
0
0
0
0
0
1,328
1,328
0.0
0.0
0.0
0.0
19.1
80.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
2
1
0
0
0
0
0
0
0
0
0
3
3
0.0
0.0
0.0
0.0
66.7
33.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
82
0
0
0
149,546
0
0
31,500
0
0
0
0
0
0
0
181,128
3,546
0.0
0.0
0.0
0.0
82.6
0.0
0.0
17.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
2.0
1
0
0
0
2
0
0
3
0
0
0
0
0
0
0
6
1
16.7
0.0
0.0
0.0
33.3
0.0
0.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
16.7
320
0
0
0
4,360
0
0
1,230
0
0
0
75,000
0
0
0
80,910
0
0.4
0.0
0.0
0.0
5.4
0.0
0.0
1.5
0.0
0.0
0.0
92.7
0.0
0.0
0.0
100.0
0.0
1
0
0
0
1
0
0
2
0
0
0
1
0
0
0
5
0
20.0
0.0
0.0
0.0
20.0
0.0
0.0
40.0
0.0
0.0
0.0
20.0
0.0
0.0
0.0
100.0
0.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Bulgaria
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
0
0
0
0
700
700
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
0
0
0
0
0
0
1
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
1,500
0
0
0
0
0
0
0
0
0
0
1,500
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
1
0
0
0
0
0
0
0
0
0
0
1
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Interest rates (3-month - Interbank middle rate)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
2
2
0
0
47
47
0
0
0.53%
0.02%
35
25
3
5,998.1
127.2
3.7%
n.a.
n.a.
7.6%
0.23%
0.01%
36
25
3
6,144.4
136.4
3.0%
n.a.
n.a.
9.5%
2,364
50
601
31
8
2
5
1

* DATASTREAM
Table of Contents
Bulgaria
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
2,605
0
2,400
0
0
0
700
5,705
0
0
0
0
5,005
0
0
700
0
0
0
0
0
0
0
5,705
0.0
0.0
45.7
0.0
42.1
0.0
0.0
0.0
12.3
100.0
0
0
0
0
1
0
1
0
0
0
1
3
0.0
0.0
0.0
0.0
87.7
0.0
0.0
12.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
2
0
0
1
0
0
0
0
0
0
0
3
0.0
0.0
33.3
0.0
33.3
0.0
0.0
0.0
33.3
100.0
1,500
0
0
0
0
0
0
3,890
0
0
0
5,390
0.0
0.0
0.0
0.0
66.7
0.0
0.0
33.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
3,890
0
0
0
1,500
0
0
0
0
0
0
5,390
27.8
0.0
0.0
0.0
0.0
72.2
0.0
0.0
0.0
100.0
1
0
0
0
0
0
0
1
0
0
0
2
50.0
0.0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
72.2
0.0
0.0
0.0
27.8
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
0
1
0
0
0
0
0
0
2
0.0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Bulgaria
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
2,605
0
0
0
0
0
0
2,605
0
0
0
0
2,605
0
0
0
0
0
0
0
0
0
0
2,605
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
3,890
0
0
0
3,890
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
3,890
0
0
0
0
0
0
0
0
0
0
3,890
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
1
0
0
0
1
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Bulgaria
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
2,400
0
0
0
700
3,100
0
0
0
0
2,400
0
0
700
0
0
0
0
0
0
0
3,100
0.0
0.0
0.0
0.0
77.4
0.0
0.0
0.0
22.6
100.0
0
0
0
0
0
0
1
0
0
0
1
2
0.0
0.0
0.0
0.0
77.4
0.0
0.0
22.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
1
0
0
0
0
0
0
0
2
0.0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
50.0
100.0
1,500
0
0
0
0
0
0
0
0
0
0
1,500
0.0
0.0
0.0
0.0
50.0
0.0
0.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
1,500
0
0
0
0
0
0
1,500
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
1
0
0
0
0
0
0
0
0
0
0
1
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
6,260
(4,660)
183,565
185,165
4,558
(2,000)
79,680
82,238
Amount
Amount
700
(0)
5,005
5,705
1,500
(0)
3,890
5,390
Table of Contents
Czech Republic
Print

2009
2010
Amount
Amount
46,300
1,400
47,700
0
47,700
97.1
2.9
100.0
0.0
100.0
12,000
0
12,000
0
12,000
100.0
0.0
100.0
0.0
100.0
0
0
0
0
6,300
40,000
0
1,400
47,700
0.0
0.0
0.0
0.0
13.2
83.9
0.0
2.9
100.0
12,000
0
0
12,000
0
0
0
0
12,000
100.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
100.0
0
19,900
0
0
0
0
10,700
12,000
0
1,400
0.0
41.7
0.0
0.0
0.0
0.0
22.4
25.2
0.0
2.9
0
0
0
5,850
0
0
0
0
0
0
0.0
0.0
0.0
48.8
0.0
0.0
0.0
0.0
0.0
0.0
3,700
0
0
0
47,700
7.8
0.0
0.0
0.0
100.0
0
6,150
0
0
12,000
0.0
51.3
0.0
0.0
100.0
41,400
10,700
30,700
0
6,300
47,700
86.8
22.4
64.4
0.0
13.2
100.0
11,100
8,700
2,400
900
0
12,000
92.5
72.5
20.0
7.5
0.0
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Czech Republic
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
98,300
0
0
0
98,300
0
0
0
0
1
0
0
0
1
0
0
0
0
98,300
0
0
0
98,300
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
98,300
0
0
0
0
0
98,300
0
0
1
0
0
0
0
0
1
0
0
98,300
0
0
0
0
0
98,300
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
98,300
0
0
0
0
0
98,300
0
0
1
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Czech Republic
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
0
1,446
1,446
6,959
400
0
52,590
61,395
0.0
0.0
2.4
2.4
11.3
0.7
0.0
85.7
100.0
0
0
2
2
3
1
0
6
10
0.0
0.0
16.7
16.7
25.0
8.3
0.0
50.0
100.0
0
11,578
0
11,578
8,362
0
0
18,105
38,045
0.0
30.4
0.0
30.4
22.0
0.0
0.0
47.6
100.0
0
1
0
1
3
0
0
5
9
0.0
11.1
0.0
11.1
33.3
0.0
0.0
55.6
100.0
0
0
7,055
0
18,126
0
0
28,500
0
0
0
7,714
0
0
0
61,395
1,400
0.0
0.0
11.5
0.0
29.5
0.0
0.0
46.4
0.0
0.0
0.0
12.6
0.0
0.0
0.0
100.0
2.3
0
0
2
0
6
0
0
1
0
0
0
1
0
0
0
10
1
0.0
0.0
20.0
0.0
60.0
0.0
0.0
10.0
0.0
0.0
0.0
10.0
0.0
0.0
0.0
100.0
10.0
0
0
0
5,530
10,832
0
6,105
0
4,000
11,578
0
0
0
0
0
38,045
11,578
0.0
0.0
0.0
14.5
28.5
0.0
16.0
0.0
10.5
30.4
0.0
0.0
0.0
0.0
0.0
100.0
30.4
0
0
0
1
4
0
2
0
1
1
0
0
0
0
0
9
1
0.0
0.0
0.0
11.1
44.4
0.0
22.2
0.0
11.1
11.1
0.0
0.0
0.0
0.0
0.0
100.0
11.1
51,153
10,242
61,395
83.3
16.7
100.0
8
4
10
66.7
33.3
100.0
31,940
6,105
38,045
84.0
16.0
100.0
7
2
9
77.8
22.2
100.0
13,764
47,631
22.4
77.6
3
8
27.3
72.7
30,910
7,135
81.2
18.8
6
3
66.7
33.3
0
61,395
42,264
0.0
100.0
68.8
0
10
4
0.0
100.0
40.0
0
38,045
36,440
0.0
100.0
95.8
0
9
7
0.0
100.0
77.8
31,620
29,775
0
61,395
51.5
48.5
0.0
100.0
8
2
0
10
80.0
20.0
0.0
100.0
36,513
1,532
0
38,045
96.0
4.0
0.0
100.0
8
1
0
9
88.9
11.1
0.0
100.0
29,775
0
0
48.5
0.0
0.0
2
0
0
20.0
0.0
0.0
1,532
0
0
4.0
0.0
0.0
1
0
0
11.1
0.0
0.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Bulgaria
Poland
-
Table of Contents
Czech Republic
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
24,090
28,500
0
0
52,590
45.8
54.2
0.0
0.0
100.0
5
1
0
0
6
83.3
16.7
0.0
0.0
100.0
18,105
0
0
0
18,105
100.0
0.0
0.0
0.0
100.0
5
0
0
0
5
100.0
0.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
59,995
1,400
0
61,395
97.7
2.3
0.0
100.0
9
1
0
10
90.0
10.0
0.0
100.0
38,045
0
0
38,045
100.0
0.0
0.0
100.0
9
0
0
9
100.0
0.0
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Czech Republic
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
0
29,987
29,987
192,027
400
139,965
1,023,397
1,385,776
0.0
0.0
2.2
2.2
13.9
0.0
10.1
73.9
100.0
0
0
5
5
8
1
1
10
22
0.0
0.0
20.0
20.0
32.0
4.0
4.0
40.0
100.0
0
13,139
9,910
23,048
145,017
0
0
25,146
193,211
0.0
6.8
5.1
11.9
75.1
0.0
0.0
13.0
100.0
0
2
1
3
5
0
0
7
15
0.0
13.3
6.7
20.0
33.3
0.0
0.0
46.7
100.0
0
215
7,055
0
62,825
140,538
0
720,000
0
230,255
217,175
7,714
0
0
0
1,385,776
15,571
0.0
0.0
0.5
0.0
4.5
10.1
0.0
52.0
0.0
16.6
15.7
0.6
0.0
0.0
0.0
100.0
1.1
0
2
2
0
9
2
0
1
0
3
2
1
0
0
0
22
3
0.0
9.1
9.1
0.0
40.9
9.1
0.0
4.5
0.0
13.6
9.1
4.5
0.0
0.0
0.0
100.0
13.6
0
312
3,195
5,530
19,210
79,435
6,105
3,846
4,000
71,578
0
0
0
0
0
193,211
13,139
0.0
0.2
1.7
2.9
9.9
41.1
3.2
2.0
2.1
37.0
0.0
0.0
0.0
0.0
0.0
100.0
6.8
0
1
1
1
4
2
2
1
1
2
0
0
0
0
0
15
2
0.0
6.7
6.7
6.7
26.7
13.3
13.3
6.7
6.7
13.3
0.0
0.0
0.0
0.0
0.0
100.0
13.3
1,211,356
174,420
1,385,776
87.4
12.6
100.0
19
6
22
76.0
24.0
100.0
175,636
17,575
193,211
90.9
9.1
100.0
11
4
15
73.3
26.7
100.0
1,204,640
181,136
86.9
13.1
10
13
43.5
56.5
171,099
22,112
88.6
11.4
8
7
53.3
46.7
0
1,385,776
1,204,640
0.0
100.0
86.9
0
22
10
0.0
100.0
45.5
0
193,211
181,629
0.0
100.0
94.0
0
15
10
0.0
100.0
66.7
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Czech Republic
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
27,222
276,175
285,000
435,000
1,023,397
2.7
27.0
27.8
42.5
100.0
6
3
1
1
10
54.5
27.3
9.1
9.1
100.0
25,146
0
0
0
25,146
100.0
0.0
0.0
0.0
100.0
7
0
0
0
7
100.0
0.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
0
0
0
29,414
573
0
0
0
0
0
0
0
0
0
29,987
573
0.0
0.0
0.0
0.0
98.1
1.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
1.9
0
0
0
0
4
1
0
0
0
0
0
0
0
0
0
5
1
0.0
0.0
0.0
0.0
80.0
20.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
20.0
0
0
0
0
9,910
1,560
0
0
0
11,578
0
0
0
0
0
23,048
13,139
0.0
0.0
0.0
0.0
43.0
6.8
0.0
0.0
0.0
50.2
0.0
0.0
0.0
0.0
0.0
100.0
57.0
0
0
0
0
1
1
0
0
0
1
0
0
0
0
0
3
2
0.0
0.0
0.0
0.0
33.3
33.3
0.0
0.0
0.0
33.3
0.0
0.0
0.0
0.0
0.0
100.0
66.7
0
215
7,055
0
33,410
139,965
0
720,000
0
230,255
217,175
7,714
0
0
0
1,355,789
14,998
0.0
0.0
0.5
0.0
2.5
10.3
0.0
53.1
0.0
17.0
16.0
0.6
0.0
0.0
0.0
100.0
1.1
0
2
2
0
6
1
0
1
0
3
2
1
0
0
0
18
2
0.0
11.1
11.1
0.0
33.3
5.6
0.0
5.6
0.0
16.7
11.1
5.6
0.0
0.0
0.0
100.0
11.1
0
312
3,195
5,530
9,300
77,875
6,105
3,846
4,000
60,000
0
0
0
0
0
170,163
0
0.0
0.2
1.9
3.2
5.5
45.8
3.6
2.3
2.4
35.3
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0
1
1
1
3
1
2
1
1
1
0
0
0
0
0
12
0
0.0
8.3
8.3
8.3
25.0
8.3
16.7
8.3
8.3
8.3
0.0
0.0
0.0
0.0
0.0
100.0
0.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Czech Republic
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
4,046
0
0
0
0
0
0
6,598
15,000
0
0
25,644
15.8
0.0
0.0
0.0
0.0
25.7
58.5
0.0
0.0
100.0
1
0
0
0
0
0
0
1
1
0
0
3
33.3
0.0
0.0
0.0
0.0
33.3
33.3
0.0
0.0
100.0
27,786
0
0
0
0
0
0
4,586
0
0
2,923
35,295
78.7
0.0
0.0
0.0
0.0
13.0
0.0
0.0
8.3
100.0
3
0
0
0
0
0
0
1
0
0
1
5
60.0
0.0
0.0
0.0
0.0
20.0
0.0
0.0
20.0
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
6
1
2
3
535
12
217
306
1.01%
0.04%
137
71
31
175.7
107.0
1.4%
4.8%
113.5
9.2%
0.13%
0.03%
145
73
31
178.2
108.3
1.0%
3.9%
112.8
9.6%
3,071
74
1,566
149
0
0
0
0

* DATASTREAM
Table of Contents
Czech Republic
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
4,046
0
0
0
1,059
0
2,215
13,955
30,330
0
0
51,605
0
750
0
4,046
0
15,014
0
31,795
0
0
0
0
0
0
0
51,605
7.8
0.0
2.1
0.0
4.3
27.0
58.8
0.0
0.0
100.0
1
0
0
0
1
0
2
1
1
0
0
6
0.0
1.5
0.0
7.8
0.0
29.1
0.0
61.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
1
0
1
0
2
0
2
0
0
0
0
0
0
0
6
16.7
0.0
16.7
0.0
33.3
16.7
16.7
0.0
0.0
100.0
56,182
0
0
0
0
0
0
12,708
0
2,342
2,923
74,155
0.0
16.7
0.0
16.7
0.0
33.3
0.0
33.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
35,182
0
0
17,973
0
2,000
0
0
19,000
0
0
0
0
0
74,155
75.8
0.0
0.0
0.0
0.0
17.1
0.0
3.2
3.9
100.0
5
0
0
0
0
0
0
3
0
1
1
9
50.0
0.0
0.0
0.0
0.0
30.0
0.0
10.0
10.0
100.0
0.0
47.4
0.0
0.0
24.2
0.0
2.7
0.0
0.0
25.6
0.0
0.0
0.0
0.0
0.0
100.0
0
3
0
0
4
0
1
0
0
1
0
0
0
0
0
9
0.0
33.3
0.0
0.0
44.4
0.0
11.1
0.0
0.0
11.1
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Czech Republic
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
1,059
0
0
0
0
0
0
1,059
0
0
0
0
0
1,059
0
0
0
0
0
0
0
0
0
1,059
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
1
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
19,000
0
0
0
0
0
0
385
0
2,342
0
21,727
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
2,727
0
0
0
0
19,000
0
0
0
0
0
21,727
87.4
0.0
0.0
0.0
0.0
1.8
0.0
10.8
0.0
100.0
1
0
0
0
0
0
0
1
0
1
0
3
33.3
0.0
0.0
0.0
0.0
33.3
0.0
33.3
0.0
100.0
0.0
0.0
0.0
0.0
12.6
0.0
0.0
0.0
0.0
87.4
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
2
0
0
0
0
1
0
0
0
0
0
3
0.0
0.0
0.0
0.0
66.7
0.0
0.0
0.0
0.0
33.3
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Czech Republic
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
4,046
0
0
0
0
0
2,215
13,955
30,330
0
0
50,546
0
750
0
4,046
0
13,955
0
31,795
0
0
0
0
0
0
0
50,546
8.0
0.0
0.0
0.0
4.4
27.6
60.0
0.0
0.0
100.0
1
0
0
0
0
0
2
1
1
0
0
5
0.0
1.5
0.0
8.0
0.0
27.6
0.0
62.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
1
0
1
0
1
0
2
0
0
0
0
0
0
0
5
20.0
0.0
0.0
0.0
40.0
20.0
20.0
0.0
0.0
100.0
37,182
0
0
0
0
0
0
12,322
0
0
2,923
52,427
0.0
20.0
0.0
20.0
0.0
20.0
0.0
40.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
35,182
0
0
15,245
0
2,000
0
0
0
0
0
0
0
0
52,427
70.9
0.0
0.0
0.0
0.0
23.5
0.0
0.0
5.6
100.0
4
0
0
0
0
0
0
2
0
0
1
7
57.1
0.0
0.0
0.0
0.0
28.6
0.0
0.0
14.3
100.0
0.0
67.1
0.0
0.0
29.1
0.0
3.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
3
0
0
3
0
1
0
0
0
0
0
0
0
0
7
0.0
42.9
0.0
0.0
42.9
0.0
14.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
61,395
(29,775)
1,354,156
1,385,776
38,045
(1,532)
156,698
193,211
Amount
Amount
25,644
(0)
25,961
51,605
35,295
(0)
38,860
74,155
Table of Contents
Denmark
Print

2009
2010
Amount
Amount
289,000
0
289,000
0
289,000
100.0
0.0
100.0
0.0
100.0
283,590
0
283,590
0
283,590
100.0
0.0
100.0
0.0
100.0
0
0
0
0
0
289,000
0
0
289,000
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
100.0
71,180
0
134,000
205,180
0
78,410
0
0
283,590
25.1
0.0
47.3
72.4
0.0
27.6
0.0
0.0
100.0
0
34,900
0
0
0
42,690
96,760
0
34,900
0
0.0
12.1
0.0
0.0
0.0
14.8
33.5
0.0
12.1
0.0
0
9,400
0
3,220
0
33,300
25,940
30,220
9,400
6,720
0.0
3.3
0.0
1.1
0.0
11.7
9.1
10.7
3.3
2.4
40,020
39,730
0
0
289,000
13.8
13.7
0.0
0.0
100.0
164,890
320
0
180
283,590
58.1
0.1
0.0
0.1
100.0
280,950
178,550
102,400
0
8,050
289,000
97.2
61.8
35.4
0.0
2.8
100.0
283,370
253,500
29,870
40
180
283,590
99.9
89.4
10.5
0.0
0.1
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Denmark
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
71,170
0
134,000
205,170
0
367,410
0
0
572,580
1
0
1
2
0
1
0
0
3
71,170
0
134,000
102,585
0
367,410
0
0
190,860
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
134,000
0
438,580
572,580
0
0
0
0
0
1
0
2
3
0
0
0
0
0
134,000
0
219,290
190,860
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
134,000
0
71,170
205,170
0
0
0
0
0
1
0
1
2
0
0
0
0
0
0
0
367,410
367,410
0
0
0
0
0
0
0
1
1

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Denmark
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
7,315
77,623
31,965
116,903
94,596
2,524
0
278,584
492,607
1.5
15.8
6.5
23.7
19.2
0.5
0.0
56.6
100.0
10
66
20
94
11
3
0
13
120
8.1
53.7
16.3
78.0
8.9
2.4
0.0
10.6
100.0
13,926
74,087
50,681
138,694
166,133
15,765
8,077
106,962
435,630
3.2
17.0
11.6
31.8
38.1
3.6
1.9
24.6
100.0
20
59
36
111
13
5
1
7
137
14.2
41.8
25.5
81.6
9.2
3.5
0.7
5.0
100.0
9,069
20,192
17,687
16,182
16,268
170,871
0
13,998
0
41,806
0
156,024
1,209
1
29,301
492,607
82,082
1.8
4.1
3.6
3.3
3.3
34.7
0.0
2.8
0.0
8.5
0.0
31.7
0.2
0.0
5.9
100.0
16.7
1
9
2
5
4
21
0
6
0
16
0
52
1
1
2
120
57
0.8
7.5
1.7
4.2
3.3
17.5
0.0
5.0
0.0
13.3
0.0
43.3
0.8
0.8
1.7
100.0
47.5
0
37,063
17,554
3,055
89,140
34,623
6,702
29,855
201
17,762
0
194,495
0
5,181
0
435,630
182,428
0.0
8.5
4.0
0.7
20.5
7.9
1.5
6.9
0.0
4.1
0.0
44.6
0.0
1.2
0.0
100.0
41.9
0
5
4
3
11
22
2
11
1
14
0
63
0
1
0
137
83
0.0
3.6
2.9
2.2
8.0
16.1
1.5
8.0
0.7
10.2
0.0
46.0
0.0
0.7
0.0
100.0
60.6
290,747
201,861
492,607
59.0
41.0
100.0
72
57
120
55.8
44.2
100.0
292,552
143,078
435,630
67.2
32.8
100.0
94
56
137
62.7
37.3
100.0
217,169
260,419
44.1
52.9
33
79
25.4
60.8
126,111
308,494
28.9
70.8
32
110
21.9
75.3
15,019
492,607
227,215
3.0
100.0
46.1
18
120
38
13.8
100.0
31.7
1,024
435,630
223,336
0.2
100.0
51.3
4
137
45
2.7
100.0
32.8
428,993
28,443
35,171
492,607
87.1
5.8
7.1
100.0
78
22
20
120
65.0
18.3
16.7
100.0
241,672
146,578
47,379
435,630
55.5
33.6
10.9
100.0
85
30
22
137
62.0
21.9
16.1
100.0
35,171
9,139
7,114
7.1
1.9
1.4
20
3
6
16.7
2.5
5.0
65,936
60,473
47,379
15.1
13.9
10.9
11
7
22
8.0
5.1
16.1
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
US
United Kingdom
Switzerland
Sweden
United Kingdom
US
Table of Contents
Denmark
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
80,584
198,000
0
0
278,584
28.9
71.1
0.0
0.0
100.0
11
2
0
0
13
84.6
15.4
0.0
0.0
100.0
36,099
70,863
0
0
106,962
33.7
66.3
0.0
0.0
100.0
6
1
0
0
7
85.7
14.3
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
465,593
13,163
13,852
492,607
94.5
2.7
2.8
100.0
93
7
21
120
76.9
5.8
17.4
100.0
382,291
40,199
13,141
435,630
87.8
9.2
3.0
100.0
99
20
26
137
68.3
13.8
17.9
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Denmark
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
6,778
61,780
19,476
88,033
106,601
4,014
349
277,152
476,149
1.4
13.0
4.1
18.5
22.4
0.8
0.1
58.2
100.0
9
46
11
64
15
3
1
13
94
9.2
46.9
11.2
67.3
15.3
3.1
1.0
13.3
100.0
10,250
29,742
29,433
69,426
119,291
15,765
65,365
115,812
385,657
2.7
7.7
7.6
18.0
30.9
4.1
16.9
30.0
100.0
15
36
21
67
13
5
2
10
97
14.7
35.3
20.6
70.6
12.7
4.9
2.0
9.8
100.0
9,069
27,220
17,687
15,856
27,145
163,503
0
13,998
0
42,521
0
127,341
1,209
1
30,599
476,149
74,341
1.9
5.7
3.7
3.3
5.7
34.3
0.0
2.9
0.0
8.9
0.0
26.7
0.3
0.0
6.4
100.0
15.6
1
10
2
4
7
14
0
6
0
11
0
34
1
1
3
94
40
1.1
10.6
2.1
4.3
7.4
14.9
0.0
6.4
0.0
11.7
0.0
36.2
1.1
1.1
3.2
100.0
42.6
0
40,984
16,523
2,868
140,690
26,847
63,990
31,842
201
7,095
0
49,437
0
5,181
0
385,657
80,632
0.0
10.6
4.3
0.7
36.5
7.0
16.6
8.3
0.1
1.8
0.0
12.8
0.0
1.3
0.0
100.0
20.9
0
6
2
2
12
16
3
12
1
9
0
33
0
1
0
97
51
0.0
6.2
2.1
2.1
12.4
16.5
3.1
12.4
1.0
9.3
0.0
34.0
0.0
1.0
0.0
100.0
52.6
297,252
178,896
476,149
62.4
37.6
100.0
69
32
94
68.3
31.7
100.0
332,715
52,942
385,657
86.3
13.7
100.0
80
27
97
74.8
25.2
100.0
213,206
253,064
44.8
53.1
24
70
22.9
66.7
189,080
196,438
49.0
50.9
26
74
25.5
72.5
9,878
476,149
220,400
2.1
100.0
46.3
11
94
28
10.5
100.0
29.8
139
385,657
209,415
0.0
100.0
54.3
2
97
35
2.0
100.0
36.1
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Denmark
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
79,152
198,000
0
0
277,152
28.6
71.4
0.0
0.0
100.0
11
2
0
0
13
84.6
15.4
0.0
0.0
100.0
44,949
70,863
0
0
115,812
38.8
61.2
0.0
0.0
100.0
9
1
0
0
10
90.0
10.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
4,606
0
2,693
6,704
11,557
0
1,985
0
12,017
0
47,261
1,209
0
0
88,033
56,977
0.0
5.2
0.0
3.1
7.6
13.1
0.0
2.3
0.0
13.7
0.0
53.7
1.4
0.0
0.0
100.0
64.7
0
4
0
2
3
11
0
4
0
7
0
32
1
0
0
64
37
0.0
6.3
0.0
3.1
4.7
17.2
0.0
6.3
0.0
10.9
0.0
50.0
1.6
0.0
0.0
100.0
57.8
0
815
0
2,868
6,826
11,770
0
1,046
201
4,539
0
41,360
0
0
0
69,426
51,723
0.0
1.2
0.0
4.1
9.8
17.0
0.0
1.5
0.3
6.5
0.0
59.6
0.0
0.0
0.0
100.0
74.5
0
2
0
2
5
14
0
3
1
8
0
32
0
0
0
67
45
0.0
3.0
0.0
3.0
7.5
20.9
0.0
4.5
1.5
11.9
0.0
47.8
0.0
0.0
0.0
100.0
67.2
9,069
22,614
17,687
13,163
20,440
151,947
0
12,012
0
30,504
0
80,080
0
1
30,599
388,116
17,363
2.3
5.8
4.6
3.4
5.3
39.1
0.0
3.1
0.0
7.9
0.0
20.6
0.0
0.0
7.9
100.0
4.5
1
6
2
2
4
4
0
2
0
4
0
2
0
1
3
31
3
3.2
19.4
6.5
6.5
12.9
12.9
0.0
6.5
0.0
12.9
0.0
6.5
0.0
3.2
9.7
100.0
9.7
0
40,169
16,523
0
133,865
15,077
63,990
30,795
0
2,556
0
8,077
0
5,181
0
316,231
28,909
0.0
12.7
5.2
0.0
42.3
4.8
20.2
9.7
0.0
0.8
0.0
2.6
0.0
1.6
0.0
100.0
9.1
0
4
2
0
7
2
3
9
0
1
0
1
0
1
0
30
6
0.0
13.3
6.7
0.0
23.3
6.7
10.0
30.0
0.0
3.3
0.0
3.3
0.0
3.3
0.0
100.0
20.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Denmark
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
52,761
0
0
0
54,508
0
0
269
93,097
0
21,366
222,001
23.8
0.0
24.6
0.0
0.0
0.1
41.9
0.0
9.6
100.0
9
0
0
0
7
0
0
1
3
0
4
24
37.5
0.0
29.2
0.0
0.0
4.2
12.5
0.0
16.7
100.0
97,670
33,487
32,393
1,094
0
0
4,110
47,208
0
4,335
11,657
198,468
49.2
16.9
0.0
0.0
2.1
23.8
0.0
2.2
5.9
100.0
12
3
1
2
0
0
1
14
0
1
3
34
35.3
8.8
0.0
0.0
2.9
41.2
0.0
2.9
8.8
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
35
19
11
5
6,970
2,367
2,763
1,839
0.21%
0.22%
222
109
67
119.7
109.6
1.5%
3.6%
102.3
3.5%
0.16%
0.19%
234
115
69
122.4
113.6
1.2%
2.9%
102.5
4.2%
3,317
279
2,979
286
38
1
2,316
3

* DATASTREAM
Table of Contents
Denmark
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
52,707
2,636
0
2,636
58,752
0
150,413
269
93,097
0
21,405
379,279
0
42,563
26,039
0
30,630
11,256
0
26,507
67,334
153,072
0
21,877
0
0
0
379,279
13.9
0.7
15.5
0.0
39.7
0.1
24.5
0.0
5.6
100.0
9
2
0
2
8
0
2
1
3
0
5
30
0.0
11.2
6.9
0.0
8.1
3.0
0.0
7.0
17.8
40.4
0.0
5.8
0.0
0.0
0.0
100.0
0
4
1
0
5
6
0
2
2
2
0
8
0
0
0
30
30.0
6.7
26.7
0.0
6.7
3.3
10.0
0.0
16.7
100.0
69,736
306,318
89,005
217,313
0
0
31,110
23,817
0
4,335
11,657
446,973
0.0
13.3
3.3
0.0
16.7
20.0
0.0
6.7
6.7
6.7
0.0
26.7
0.0
0.0
0.0
100.0
0
30,292
6,682
0
257,598
4,606
0
92,533
0
28,500
0
22,427
0
4,335
0
446,973
15.6
68.5
0.0
0.0
7.0
5.3
0.0
1.0
2.6
100.0
8
5
2
3
0
0
2
14
0
1
3
33
24.2
15.2
0.0
0.0
6.1
42.4
0.0
3.0
9.1
100.0
0.0
6.8
1.5
0.0
57.6
1.0
0.0
20.7
0.0
6.4
0.0
5.0
0.0
1.0
0.0
100.0
0
3
2
0
4
5
0
3
0
2
0
13
0
1
0
33
0.0
9.1
6.1
0.0
12.1
15.2
0.0
9.1
0.0
6.1
0.0
39.4
0.0
3.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Denmark
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
8,419
2,636
0
2,636
13,977
0
413
269
5,536
0
21,405
52,656
0
1,343
0
0
17,199
11,256
0
0
980
0
0
21,877
0
0
0
52,656
16.0
5.0
26.5
0.0
0.8
0.5
10.5
0.0
40.7
100.0
5
2
0
2
5
0
1
1
1
0
5
20
0.0
2.6
0.0
0.0
32.7
21.4
0.0
0.0
1.9
0.0
0.0
41.5
0.0
0.0
0.0
100.0
0
1
0
0
4
6
0
0
1
0
0
8
0
0
0
20
25.0
10.0
25.0
0.0
5.0
5.0
5.0
0.0
25.0
100.0
15,265
1,094
0
1,094
0
0
0
14,188
0
0
0
30,547
0.0
5.0
0.0
0.0
20.0
30.0
0.0
0.0
5.0
0.0
0.0
40.0
0.0
0.0
0.0
100.0
0
0
0
0
2,014
4,606
0
0
0
1,500
0
22,427
0
0
0
30,547
50.0
3.6
0.0
0.0
0.0
46.4
0.0
0.0
0.0
100.0
5
2
0
2
0
0
0
13
0
0
0
20
25.0
10.0
0.0
0.0
0.0
65.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
6.6
15.1
0.0
0.0
0.0
4.9
0.0
73.4
0.0
0.0
0.0
100.0
0
0
0
0
1
5
0
0
0
1
0
13
0
0
0
20
0.0
0.0
0.0
0.0
5.0
25.0
0.0
0.0
0.0
5.0
0.0
65.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Denmark
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
44,287
0
0
0
44,775
0
150,000
0
87,561
0
0
326,623
0
41,220
26,039
0
13,431
0
0
26,507
66,354
153,072
0
0
0
0
0
326,623
13.6
0.0
13.7
0.0
45.9
0.0
26.8
0.0
0.0
100.0
4
0
0
0
3
0
1
0
2
0
0
10
0.0
12.6
8.0
0.0
4.1
0.0
0.0
8.1
20.3
46.9
0.0
0.0
0.0
0.0
0.0
100.0
0
3
1
0
1
0
0
2
1
2
0
0
0
0
0
10
40.0
0.0
30.0
0.0
10.0
0.0
20.0
0.0
0.0
100.0
54,471
305,224
89,005
216,219
0
0
31,110
9,629
0
4,335
11,657
416,426
0.0
30.0
10.0
0.0
10.0
0.0
0.0
20.0
10.0
20.0
0.0
0.0
0.0
0.0
0.0
100.0
0
30,292
6,682
0
255,584
0
0
92,533
0
27,000
0
0
0
4,335
0
416,426
13.1
73.3
0.0
0.0
7.5
2.3
0.0
1.0
2.8
100.0
3
3
2
1
0
0
2
1
0
1
3
13
23.1
23.1
0.0
0.0
15.4
7.7
0.0
7.7
23.1
100.0
0.0
7.3
1.6
0.0
61.4
0.0
0.0
22.2
0.0
6.5
0.0
0.0
0.0
1.0
0.0
100.0
0
3
2
0
3
0
0
3
0
1
0
0
0
1
0
13
0.0
23.1
15.4
0.0
23.1
0.0
0.0
23.1
0.0
7.7
0.0
0.0
0.0
7.7
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
492,607
(63,614)
47,156
476,149
435,630
(193,957)
143,985
385,657
Amount
Amount
222,001
(3,467)
160,745
379,279
198,468
(66,856)
315,361
446,973
Table of Contents
Ex-Yugoslavia and Slovakia

Print

2009
2010
Amount
Amount
42,700
0
42,700
0
42,700
100.0
0.0
100.0
0.0
100.0
9,000
0
9,000
0
9,000
100.0
0.0
100.0
0.0
100.0
3,200
26,000
13,500
42,700
0
0
0
0
42,700
7.5
60.9
31.6
100.0
0.0
0.0
0.0
0.0
100.0
9,000
0
0
9,000
0
0
0
0
9,000
100.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
100.0
0
0
0
3,200
0
0
3,000
26,000
0
0
0.0
0.0
0.0
7.5
0.0
0.0
7.0
60.9
0.0
0.0
0
0
0
0
0
0
0
9,000
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0
0
0
10,500
42,700
0.0
0.0
0.0
24.6
100.0
0
0
0
0
9,000
0.0
0.0
0.0
0.0
100.0
32,200
26,000
6,200
0
10,500
42,700
75.4
60.9
14.5
0.0
24.6
100.0
9,000
0
9,000
0
0
9,000
100.0
0.0
100.0
0.0
0.0
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents

Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,400
0
0
18,400
0
0
0
0
18,400
1
0
0
1
0
0
0
0
1
18,400
0
0
18,400
0
0
0
0
18,400
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,400
18,400
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
18,400
18,400
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,400
18,400
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents

Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
1,400
0
1,400
15,667
0
0
13,736
30,804
0.0
4.5
0.0
4.5
50.9
0.0
0.0
44.6
100.0
0
2
0
2
4
0
0
1
7
0.0
28.6
0.0
28.6
57.1
0.0
0.0
14.3
100.0
0
300
0
300
0
0
0
3,055
3,355
0.0
8.9
0.0
8.9
0.0
0.0
0.0
91.1
100.0
0
1
0
1
0
0
0
1
2
0.0
50.0
0.0
50.0
0.0
0.0
0.0
50.0
100.0
0
0
681
0
1,250
1,400
0
27,473
0
0
0
0
0
0
0
30,804
1,650
0.0
0.0
2.2
0.0
4.1
4.5
0.0
89.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
5.4
0
0
1
0
2
2
0
2
0
0
0
0
0
0
0
7
3
0.0
0.0
14.3
0.0
28.6
28.6
0.0
28.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
42.9
0
3,055
0
0
0
300
0
0
0
0
0
0
0
0
0
3,355
300
0.0
91.1
0.0
0.0
0.0
8.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
8.9
0
1
0
0
0
1
0
0
0
0
0
0
0
0
0
2
1
0.0
50.0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
50.0
30,804
0
30,804
100.0
0.0
100.0
7
0
7
100.0
0.0
100.0
3,355
0
3,355
100.0
0.0
100.0
2
0
2
100.0
0.0
100.0
30,054
750
97.6
2.4
5
2
71.4
28.6
3,355
0
100.0
0.0
2
0
100.0
0.0
0
30,804
30,054
0.0
100.0
97.6
0
7
5
0.0
100.0
71.4
0
3,355
3,355
0.0
100.0
100.0
0
2
2
0.0
100.0
100.0
30,054
0
750
30,804
97.6
0.0
2.4
100.0
5
0
2
7
71.4
0.0
28.6
100.0
3,355
0
0
3,355
100.0
0.0
0.0
100.0
2
0
0
2
100.0
0.0
0.0
100.0
500
250
0
1.6
0.8
0.0
1
1
0
14.3
14.3
0.0
0
0
0
0.0
0.0
0.0
0
0
0
0.0
0.0
0.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
US
Cyprus
-
Table of Contents

Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
13,736
0
0
0
13,736
100.0
0.0
0.0
0.0
100.0
1
0
0
0
1
100.0
0.0
0.0
0.0
100.0
3,055
0
0
0
3,055
100.0
0.0
0.0
0.0
100.0
1
0
0
0
1
100.0
0.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
30,804
0
0
30,804
100.0
0.0
0.0
100.0
7
0
0
7
100.0
0.0
0.0
100.0
3,355
0
0
3,355
100.0
0.0
0.0
100.0
2
0
0
2
100.0
0.0
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents

Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
900
2,515
3,415
21,684
0
0
104,578
129,678
0.0
0.7
1.9
2.6
16.7
0.0
0.0
80.6
100.0
0
1
2
3
4
0
0
3
10
0.0
10.0
20.0
30.0
40.0
0.0
0.0
30.0
100.0
0
300
1,129
1,429
13,208
0
5,816
15,255
35,708
0.0
0.8
3.2
4.0
37.0
0.0
16.3
42.7
100.0
0
1
1
2
2
0
1
2
7
0.0
14.3
14.3
28.6
28.6
0.0
14.3
28.6
100.0
0
0
681
0
86,236
900
14,388
27,473
0
0
0
0
0
0
0
129,678
77,354
0.0
0.0
0.5
0.0
66.5
0.7
11.1
21.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
59.7
0
0
1
0
5
1
1
2
0
0
0
0
0
0
0
10
2
0.0
0.0
10.0
0.0
50.0
10.0
10.0
20.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
20.0
0
3,055
0
12,200
4,337
300
0
5,816
0
0
10,000
0
0
0
0
35,708
3,508
0.0
8.6
0.0
34.2
12.1
0.8
0.0
16.3
0.0
0.0
28.0
0.0
0.0
0.0
0.0
100.0
9.8
0
1
0
1
2
1
0
1
0
0
1
0
0
0
0
7
2
0.0
14.3
0.0
14.3
28.6
14.3
0.0
14.3
0.0
0.0
14.3
0.0
0.0
0.0
0.0
100.0
28.6
38,836
90,842
129,678
29.9
70.1
100.0
8
2
10
80.0
20.0
100.0
19,892
15,816
35,708
55.7
44.3
100.0
5
2
7
71.4
28.6
100.0
52,866
76,812
40.8
59.2
9
2
81.8
18.2
19,171
16,537
53.7
46.3
4
3
57.1
42.9
0
129,678
52,866
0.0
100.0
40.8
0
10
9
0.0
100.0
90.0
0
35,708
31,371
0.0
100.0
87.9
0
7
5
0.0
100.0
71.4
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents

Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
28,124
76,454
0
0
104,578
26.9
73.1
0.0
0.0
100.0
2
1
0
0
3
66.7
33.3
0.0
0.0
100.0
15,255
0
0
0
15,255
100.0
0.0
0.0
0.0
100.0
2
0
0
0
2
100.0
0.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
0
0
0
2,515
900
0
0
0
0
0
0
0
0
0
3,415
900
0.0
0.0
0.0
0.0
73.6
26.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
26.4
0
0
0
0
2
1
0
0
0
0
0
0
0
0
0
3
1
0.0
0.0
0.0
0.0
66.7
33.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
33.3
0
0
0
0
1,129
300
0
0
0
0
0
0
0
0
0
1,429
300
0.0
0.0
0.0
0.0
79.0
21.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
21.0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
2
1
0.0
0.0
0.0
0.0
50.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
50.0
0
0
681
0
83,721
0
14,388
27,473
0
0
0
0
0
0
0
126,263
76,454
0.0
0.0
0.5
0.0
66.3
0.0
11.4
21.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
60.6
0
0
1
0
3
0
1
2
0
0
0
0
0
0
0
7
1
0.0
0.0
14.3
0.0
42.9
0.0
14.3
28.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
14.3
0
3,055
0
12,200
3,208
0
0
5,816
0
0
10,000
0
0
0
0
34,279
3,208
0.0
8.9
0.0
35.6
9.4
0.0
0.0
17.0
0.0
0.0
29.2
0.0
0.0
0.0
0.0
100.0
9.4
0
1
0
1
1
0
0
1
0
0
1
0
0
0
0
5
1
0.0
20.0
0.0
20.0
20.0
0.0
0.0
20.0
0.0
0.0
20.0
0.0
0.0
0.0
0.0
100.0
20.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents

Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
1,860
0
0
0
0
0
4,000
0
0
0
0
5,860
31.7
0.0
0.0
0.0
68.3
0.0
0.0
0.0
0.0
100.0
1
0
0
0
0
0
1
0
0
0
0
2
50.0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
46
26
10
(b) 115.3
n.a.
n.a.
n.a.
(b) 99.9
14.9%
12
14
0
0
12
n.a.
n.a.
(a) 100.0
n.a.
n.a.
n.a.
n.a.
41.5%
6
4
0
0
0
0
594
20
14
29
8
(b) 108.1
(d) 100.6
n.a.
n.a.
(b) 100.6
n.a.
Serbia
0
0
152
7
35
27
7
(b) 113.1
(b) 109.2
0.7%
4.4%
(b) 109.1
9.1%
Slovenia
0
0
199
10
63
38
13
(c) 148.9
(b) 108.3
0.7%
4.4%
n.a.
12.7%
Slovakia
0
0
14
n.a.
n.a.
(a) 100.3
n.a.
n.a.
n.a.
n.a.
42.9%
Bosnia &
Herzegovina
0
0
280
39
47
26
10
(b) 116.5
n.a.
n.a.
n.a.
(b) 98.7
17.6%
Croatia
0
0
19
10
13
n.a.
8
(b) 106.1
(d) 101.3
n.a.
n.a.
(b) 102.4
n.a.
Serbia
2010
0
0
248
3
36
28
7
(b) 115.2
(b) 111.5
1.0%
3.8%
(b) 108.8
10.7%
Slovenia
Croatia
Bosnia &
Herzegovina
2009
0
0
12
66
38
13
(c) 150.3
(c) 105.3
1.0%
3.9%
n.a.
12.5%
Slovakia
0
0
1018
49
0.12%
0.03%
110.1
-
Total
2009
0
0
547
56
0.03%
0.00%
109.0
-
12
6
4
2
878
151
704
46
Total
2010
EURIBOR offered rate

harmonised government bond yield
(a) 2009=100
(b) 2005=100
(c) December 2000=100
(d) previous year=100

* DATASTREAM

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Consumer prices*
Producer prices*
Interest rates (3-month)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings

Table of Contents
Print
Table of Contents

Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
2,012
0
0
0
597
0
4,000
0
8,416
500
0
15,525
0
0
0
0
4,000
0
0
11,373
0
152
0
0
0
0
0
15,525
13.0
0.0
3.8
0.0
25.8
0.0
54.2
3.2
0.0
100.0
2
0
0
0
1
0
1
0
1
1
0
6
0.0
0.0
0.0
0.0
25.8
0.0
0.0
73.3
0.0
1.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
4
0
1
0
0
0
0
0
6
33.3
0.0
16.7
0.0
16.7
0.0
16.7
16.7
0.0
100.0
0
0
0
0
0
0
0
14,000
0
0
0
14,000
0.0
0.0
0.0
0.0
16.7
0.0
0.0
66.7
0.0
16.7
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
14,000
0
0
0
0
0
0
0
0
0
0
0
14,000
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
1
0
0
0
1
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
1
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents

Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
152
0
0
0
597
0
4,000
0
0
500
0
5,249
0
0
0
0
4,000
0
0
1,097
0
152
0
0
0
0
0
5,249
2.9
0.0
11.4
0.0
76.2
0.0
0.0
9.5
0.0
100.0
1
0
0
0
1
0
1
0
0
1
0
4
0.0
0.0
0.0
0.0
76.2
0.0
0.0
20.9
0.0
2.9
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
2
0
1
0
0
0
0
0
4
25.0
0.0
0.0
0.0
25.0
0.0
25.0
0.0
0.0
25.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
25.0
0.0
0.0
50.0
0.0
25.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents

Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
1,860
0
0
0
0
0
0
0
8,416
0
0
10,276
0
0
0
0
0
0
0
10,276
0
0
0
0
0
0
0
10,276
18.1
0.0
0.0
0.0
0.0
0.0
81.9
0.0
0.0
100.0
1
0
0
0
0
0
0
0
1
0
0
2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
2
0
0
0
0
0
0
0
2
50.0
0.0
0.0
0.0
0.0
0.0
50.0
0.0
0.0
100.0
0
0
0
0
0
0
0
14,000
0
0
0
14,000
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
14,000
0
0
0
0
0
0
0
0
0
0
0
14,000
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
1
0
0
0
1
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
1
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
30,804
(750)
99,624
129,678
3,355
(0)
32,353
35,708
Amount
Amount
5,860
(0)
9,665
15,525
0
(0)
14,000
14,000
Table of Contents
Finland
Print

2009
2010
Amount
Amount
165,310
149,330
314,640
0
314,640
52.5
47.5
100.0
0.0
100.0
267,850
11,820
279,670
0
279,670
95.8
4.2
100.0
0.0
100.0
34,940
0
12,320
47,260
10,000
168,390
21,100
67,890
314,640
11.1
0.0
3.9
15.0
3.2
53.5
6.7
21.6
100.0
50,000
0
0
50,000
58,500
91,600
60,000
19,570
279,670
17.9
0.0
0.0
17.9
20.9
32.8
21.5
7.0
100.0
0
2,140
0
11,630
5,000
39,480
53,070
150,170
0
0
0.0
0.7
0.0
3.7
1.6
12.5
16.9
47.7
0.0
0.0
18,000
3,260
0
45,210
0
20,820
51,000
18,100
25,000
5,000
6.4
1.2
0.0
16.2
0.0
7.4
18.2
6.5
8.9
1.8
26,100
0
0
27,050
314,640
8.3
0.0
0.0
8.6
100.0
93,000
280
0
0
279,670
33.3
0.1
0.0
0.0
100.0
288,120
244,490
43,630
0
26,520
314,640
91.6
77.7
13.9
0.0
8.4
100.0
265,770
222,070
43,700
13,900
0
279,670
95.0
79.4
15.6
5.0
0.0
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Finland
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
53,320
53,320
0
0
423,200
0
476,520
0
0
1
1
0
0
2
0
3
0
0
53,320
53,320
0
0
211,600
0
158,840
0
0
0
0
0
294,600
0
0
294,600
0
0
0
0
0
1
0
0
1
0
0
0
0
0
294,600
0
0
294,600
0
0
0
0
0
0
0
476,520
476,520
0
0
0
0
0
0
0
3
3
0
0
0
0
0
0
0
158,840
158,840
0
0
0
0
0
0
0
294,600
294,600
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
294,600
294,600
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
53,320
53,320
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
423,200
423,200
0
0
0
0
0
0
0
2
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
294,600
294,600
0
0
0
0
0
0
0
1
1

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Finland
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
9,302
47,528
28,800
85,630
28,796
27,789
149,410
96,598
388,223
2.4
12.2
7.4
22.1
7.4
7.2
38.5
24.9
100.0
54
100
30
173
17
11
16
27
235
21.2
39.2
11.8
72.2
6.7
4.3
6.3
10.6
100.0
5,350
54,416
36,521
96,287
86,861
23,064
9,063
194,287
409,562
1.3
13.3
8.9
23.5
21.2
5.6
2.2
47.4
100.0
20
117
19
155
33
12
3
28
227
8.6
50.4
8.2
67.2
14.2
5.2
1.3
12.1
100.0
187
217,031
24,560
10,483
16,157
26,447
5,738
17,488
4,447
24,733
250
33,838
891
5,972
0
388,223
91,429
0.0
55.9
6.3
2.7
4.2
6.8
1.5
4.5
1.1
6.4
0.1
8.7
0.2
1.5
0.0
100.0
23.6
1
50
11
3
19
59
6
9
12
22
1
38
2
2
0
235
83
0.4
21.3
4.7
1.3
8.1
25.1
2.6
3.8
5.1
9.4
0.4
16.2
0.9
0.9
0.0
100.0
35.3
37,174
59,475
47,867
7,845
25,335
31,764
16,491
15,453
11,690
48,393
960
47,941
150
59,024
0
409,562
45,313
9.1
14.5
11.7
1.9
6.2
7.8
4.0
3.8
2.9
11.8
0.2
11.7
0.0
14.4
0.0
100.0
11.1
6
46
15
2
20
54
7
11
8
19
2
31
1
5
0
227
89
2.6
20.3
6.6
0.9
8.8
23.8
3.1
4.8
3.5
8.4
0.9
13.7
0.4
2.2
0.0
100.0
39.2
286,978
101,245
388,223
73.9
26.1
100.0
160
97
235
62.3
37.7
100.0
231,452
178,110
409,562
56.5
43.5
100.0
141
104
227
57.6
42.4
100.0
83,810
289,899
21.6
74.7
84
154
32.1
58.8
241,567
167,995
59.0
41.0
69
164
29.6
70.4
14,514
388,223
133,377
3.7
100.0
34.4
24
235
96
9.2
100.0
40.9
0
409,562
290,547
0.0
100.0
70.9
0
227
84
0.0
100.0
37.0
331,310
43,166
13,747
388,223
85.3
11.1
3.5
100.0
217
13
5
235
92.3
5.5
2.1
100.0
335,920
65,187
8,455
409,562
82.0
15.9
2.1
100.0
208
15
4
227
91.6
6.6
1.8
100.0
39,822
7,500
5,300
10.3
1.9
1.4
8
1
1
3.4
0.4
0.4
30,000
11,287
9,320
7.3
2.8
2.3
2
6
1
0.9
2.6
0.4
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Sweden
Netherlands
India
Sweden
Other Australasia Romania
Table of Contents
Finland
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
62,336
34,262
0
0
96,598
64.5
35.5
0.0
0.0
100.0
25
2
0
0
27
92.6
7.4
0.0
0.0
100.0
99,647
94,640
0
0
194,287
51.3
48.7
0.0
0.0
100.0
25
4
0
0
28
86.2
13.8
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
322,496
44,161
21,566
388,223
83.1
11.4
5.6
100.0
217
17
14
235
87.5
6.9
5.6
100.0
348,709
8,376
52,477
409,562
85.1
2.0
12.8
100.0
206
9
23
227
86.6
3.8
9.7
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Finland
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
9,134
52,019
30,787
91,940
49,503
28,150
238,610
270,158
678,361
1.3
7.7
4.5
13.6
7.3
4.1
35.2
39.8
100.0
53
96
29
168
21
12
15
24
233
21.2
38.4
11.6
71.2
8.4
4.8
6.0
9.6
100.0
5,350
61,453
31,535
98,338
229,237
20,064
18,988
219,911
586,538
0.9
10.5
5.4
16.8
39.1
3.4
3.2
37.5
100.0
20
117
17
153
31
11
3
29
224
8.8
51.3
7.5
67.5
13.6
4.8
1.3
12.7
100.0
187
291,957
14,715
9,387
24,435
31,545
9,738
17,754
4,447
23,341
250
244,317
316
5,972
0
678,361
77,797
0.0
43.0
2.2
1.4
3.6
4.7
1.4
2.6
0.7
3.4
0.0
36.0
0.0
0.9
0.0
100.0
11.5
1
49
11
3
18
54
7
10
12
21
1
43
1
2
0
233
80
0.4
21.0
4.7
1.3
7.7
23.2
3.0
4.3
5.2
9.0
0.4
18.5
0.4
0.9
0.0
100.0
34.3
14,700
63,475
55,181
300
175,341
35,184
24,352
28,655
11,690
18,982
960
98,544
150
59,024
0
586,538
41,347
2.5
10.8
9.4
0.1
29.9
6.0
4.2
4.9
2.0
3.2
0.2
16.8
0.0
10.1
0.0
100.0
7.0
2
46
16
1
18
52
8
12
8
14
2
39
1
5
0
224
82
0.9
20.5
7.1
0.4
8.0
23.2
3.6
5.4
3.6
6.3
0.9
17.4
0.4
2.2
0.0
100.0
36.6
604,533
73,828
678,361
89.1
10.9
100.0
164
89
233
64.8
35.2
100.0
437,975
148,563
586,538
74.7
25.3
100.0
145
97
224
59.9
40.1
100.0
261,668
402,179
38.6
59.3
82
154
31.5
59.2
249,474
337,064
42.5
57.5
70
160
30.4
69.6
14,514
678,361
291,973
2.1
100.0
43.0
24
233
93
9.2
100.0
39.9
0
586,538
275,694
0.0
100.0
47.0
0
224
80
0.0
100.0
35.7
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Finland
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
53,202
15,000
201,956
0
270,158
19.7
5.6
74.8
0.0
100.0
23
1
1
0
24
92.0
4.0
4.0
0.0
100.0
120,096
99,815
0
0
219,911
54.6
45.4
0.0
0.0
100.0
26
4
0
0
29
86.7
13.3
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
187
9,041
1,043
1,250
8,970
26,185
500
2,084
1,344
13,294
250
27,735
0
57
0
91,940
49,285
0.2
9.8
1.1
1.4
9.8
28.5
0.5
2.3
1.5
14.5
0.3
30.2
0.0
0.1
0.0
100.0
53.6
1
26
5
1
15
49
1
6
7
19
1
36
0
1
0
168
73
0.6
15.5
3.0
0.6
8.9
29.2
0.6
3.6
4.2
11.3
0.6
21.4
0.0
0.6
0.0
100.0
43.5
950
18,601
1,708
300
12,427
28,151
2,180
1,051
430
10,687
0
21,703
150
0
0
98,338
40,451
1.0
18.9
1.7
0.3
12.6
28.6
2.2
1.1
0.4
10.9
0.0
22.1
0.2
0.0
0.0
100.0
41.1
1
25
10
1
15
49
1
4
2
11
0
33
1
0
0
153
80
0.7
16.3
6.5
0.7
9.8
32.0
0.7
2.6
1.3
7.2
0.0
21.6
0.7
0.0
0.0
100.0
52.3
0
282,916
13,672
8,137
15,465
5,360
9,238
15,670
3,103
10,047
0
216,582
316
5,915
0
586,421
28,512
0.0
48.2
2.3
1.4
2.6
0.9
1.6
2.7
0.5
1.7
0.0
36.9
0.1
1.0
0.0
100.0
4.9
0
26
6
2
3
5
6
4
6
2
0
7
1
1
0
69
8
0.0
37.7
8.7
2.9
4.3
7.2
8.7
5.8
8.7
2.9
0.0
10.1
1.4
1.4
0.0
100.0
11.6
13,750
44,874
53,474
0
162,914
7,033
22,172
27,604
11,260
8,295
960
76,841
0
59,024
0
488,200
896
2.8
9.2
11.0
0.0
33.4
1.4
4.5
5.7
2.3
1.7
0.2
15.7
0.0
12.1
0.0
100.0
0.2
1
21
6
0
3
3
7
8
6
3
2
6
0
5
0
71
2
1.4
29.6
8.5
0.0
4.2
4.2
9.9
11.3
8.5
4.2
2.8
8.5
0.0
7.0
0.0
100.0
2.8

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Finland
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
92,898
2,030
0
2,030
14,237
0
2,401
5,764
0
13,087
1,100
131,517
70.6
1.5
10.8
0.0
1.8
4.4
0.0
10.0
0.8
100.0
18
1
0
1
23
0
15
1
0
29
3
86
20.0
1.1
25.6
0.0
16.7
1.1
0.0
32.2
3.3
100.0
54,729
1,732
0
1,732
33,903
0
14,553
80,595
274
21,961
11,195
218,941
25.0
0.8
15.5
0.0
6.6
36.8
0.1
10.0
5.1
100.0
19
2
0
2
25
0
24
18
1
24
3
111
16.4
1.7
21.6
0.0
20.7
15.5
0.9
20.7
2.6
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
44
19
12
13
6,208
1,658
1,642
2,908
0.40%
0.23%
171
94
43
108.3
1,756.0
0.7%
3.7%
108.4
8.2%
0.33%
0.23%
180
97
44
109.7
1,843.0
1.0%
3.0%
111.6
8.4%
1,711
166
1,464
172
0
0
0
0

* DATASTREAM
Table of Contents
Finland
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
202,563
2,030
0
2,030
31,038
0
2,989
5,764
0
13,404
10,687
268,474
335
13,198
4,535
736
144,614
18,234
1,163
463
2,121
3,595
0
79,180
0
250
50
268,474
75.4
0.8
11.6
0.0
1.1
2.1
0.0
5.0
4.0
100.0
17
1
0
1
25
0
15
1
0
31
7
92
0.1
4.9
1.7
0.3
53.9
6.8
0.4
0.2
0.8
1.3
0.0
29.5
0.0
0.1
0.0
100.0
1
22
7
1
7
17
5
4
4
4
0
18
0
1
1
92
17.5
1.0
25.8
0.0
15.5
1.0
0.0
32.0
7.2
100.0
59,406
7,130
0
7,130
197,538
0
6,373
59,067
12,675
21,961
11,195
375,345
1.1
23.9
7.6
1.1
7.6
18.5
5.4
4.3
4.3
4.3
0.0
19.6
0.0
1.1
1.1
100.0
0
36,910
8,743
29,593
169,557
44,032
25,870
3,166
3,395
3,180
0
44,542
0
5,876
481
375,345
15.8
1.9
52.6
0.0
1.7
15.7
3.4
5.9
3.0
100.0
18
2
0
2
25
0
23
14
1
24
3
105
16.4
1.8
22.7
0.0
20.9
12.7
0.9
21.8
2.7
100.0
0.0
9.8
2.3
7.9
45.2
11.7
6.9
0.8
0.9
0.8
0.0
11.9
0.0
1.6
0.1
100.0
0
23
9
3
8
22
7
3
8
3
0
17
0
1
1
105
0.0
21.9
8.6
2.9
7.6
21.0
6.7
2.9
7.6
2.9
0.0
16.2
0.0
1.0
1.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Finland
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
16,837
2,030
0
2,030
28,850
0
1,416
0
0
10,949
1,100
61,182
335
5,518
1,528
736
11,663
18,007
572
158
1,677
917
0
19,821
0
250
0
61,182
27.5
3.3
47.2
0.0
2.3
0.0
0.0
17.9
1.8
100.0
14
1
0
1
21
0
4
0
0
27
3
66
0.5
9.0
2.5
1.2
19.1
29.4
0.9
0.3
2.7
1.5
0.0
32.4
0.0
0.4
0.0
100.0
1
14
2
1
5
16
3
2
1
3
0
17
0
1
0
66
20.0
1.4
30.0
0.0
5.7
0.0
0.0
38.6
4.3
100.0
29,957
5,931
0
5,931
17,861
0
1,357
11,051
12,675
17,274
675
96,780
1.5
21.2
3.0
1.5
7.6
24.2
4.5
3.0
1.5
4.5
0.0
25.8
0.0
1.5
0.0
100.0
0
7,881
4,457
160
1,474
34,393
0
0
287
3,180
0
44,467
0
0
481
96,780
31.0
6.1
18.5
0.0
1.4
11.4
13.1
17.8
0.7
100.0
12
1
0
1
18
0
3
3
1
15
1
51
22.2
1.9
33.3
0.0
5.6
5.6
1.9
27.8
1.9
100.0
0.0
8.1
4.6
0.2
1.5
35.5
0.0
0.0
0.3
3.3
0.0
45.9
0.0
0.0
0.5
100.0
0
6
4
1
4
15
0
0
2
3
0
15
0
0
1
51
0.0
11.8
7.8
2.0
7.8
29.4
0.0
0.0
3.9
5.9
0.0
29.4
0.0
0.0
2.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Finland
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
185,726
0
0
0
2,188
0
1,573
5,764
0
2,454
9,587
207,292
0
7,680
3,007
0
132,951
227
591
305
444
2,678
0
59,359
0
0
50
207,292
89.6
0.0
1.1
0.0
0.8
2.8
0.0
1.2
4.6
100.0
3
0
0
0
4
0
11
1
0
7
4
29
0.0
3.7
1.5
0.0
64.1
0.1
0.3
0.1
0.2
1.3
0.0
28.6
0.0
0.0
0.0
100.0
0
8
5
0
2
1
3
2
4
1
0
2
0
0
1
29
10.0
0.0
13.3
0.0
36.7
3.3
0.0
23.3
13.3
100.0
29,449
1,199
0
1,199
179,677
0
5,016
48,017
0
4,687
10,520
278,565
0.0
27.6
17.2
0.0
6.9
3.4
10.3
6.9
13.8
3.4
0.0
6.9
0.0
0.0
3.4
100.0
0
29,029
4,286
29,433
168,083
9,639
25,870
3,166
3,108
0
0
75
0
5,876
0
278,565
10.6
0.4
64.5
0.0
1.8
17.2
0.0
1.7
3.8
100.0
6
1
0
1
7
0
20
11
0
9
2
54
10.7
1.8
12.5
0.0
35.7
19.6
0.0
16.1
3.6
100.0
0.0
10.4
1.5
10.6
60.3
3.5
9.3
1.1
1.1
0.0
0.0
0.0
0.0
2.1
0.0
100.0
0
17
5
2
4
7
7
3
6
0
0
2
0
1
0
54
0.0
31.5
9.3
3.7
7.4
13.0
13.0
5.6
11.1
0.0
0.0
3.7
0.0
1.9
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
388,223
(56,913)
347,051
678,361
409,562
(73,642)
250,618
586,538
Amount
Amount
131,517
(29,246)
166,204
268,474
218,941
(34,180)
190,584
375,345
Table of Contents
France
Print

2009
2010
Amount
Amount
2,162,350
15,000
2,177,350
38,920
2,216,270
97.6
0.7
98.2
1.8
100.0
4,111,490
105,000
4,216,490
0
4,216,490
97.5
2.5
100.0
0.0
100.0
236,880
126,880
83,910
447,670
433,800
317,370
117,030
900,400
2,216,270
10.7
5.7
3.8
20.2
19.6
14.3
5.3
40.6
100.0
168,030
217,910
451,220
837,160
288,170
1,936,600
152,000
1,002,560
4,216,490
4.0
5.2
10.7
19.9
6.8
45.9
3.6
23.8
100.0
0
207,880
30,000
427,140
0
185,530
285,140
87,100
194,990
12,700
0.0
9.5
1.4
19.6
0.0
8.5
13.1
4.0
9.0
0.6
0
301,360
147,650
301,680
83,810
213,650
479,390
457,960
229,490
7,750
0.0
7.1
3.5
7.2
2.0
5.1
11.4
10.9
5.4
0.2
77,600
289,250
200,000
180,020
2,177,350
3.6
13.3
9.2
8.3
100.0
350,640
315,060
766,430
561,620
4,216,490
8.3
7.5
18.2
13.3
100.0
1,987,330
1,689,950
297,380
10,000
180,020
2,177,350
91.3
77.6
13.7
0.5
8.3
100.0
3,189,370
2,497,530
691,840
390,030
637,090
4,216,490
75.6
59.2
16.4
9.3
15.1
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
France
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
260,000
203,280
34,930
498,210
268,000
15,000
747,000
801,980
2,330,190
1
2
4
7
2
1
2
12
24
260,000
101,640
8,733
71,173
134,000
15,000
373,500
66,832
97,091
70,070
166,710
430,620
667,400
20,000
835,670
127,000
865,800
2,515,870
4
1
6
11
1
6
1
15
34
17,518
166,710
71,770
60,673
20,000
139,278
127,000
57,720
73,996
18,400
600,000
0
340
0
0
0
1,711,450
2,330,190
1
1
0
1
0
0
0
21
24
18,400
600,000
0
340
0
0
0
81,498
97,091
0
0
0
0
0
35,000
139,000
2,341,870
2,515,870
0
0
0
0
0
1
1
32
34
0
0
0
0
0
35,000
139,000
73,183
73,996
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
18,400
0
0
340
0
0
0
479,470
498,210
1
0
0
1
0
0
0
5
7
0
0
0
0
0
0
0
1,030,000
1,030,000
0
0
0
0
0
0
0
5
5
0
0
0
0
0
35,000
139,000
493,400
667,400
0
0
0
0
0
1
1
9
11
0
0
0
0
0
0
0
982,670
982,670
0
0
0
0
0
0
0
8
8

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
France
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
14,019
353,060
557,276
924,355
903,700
57,365
182,053
1,377,430
3,444,903
0.4
10.2
16.2
26.8
26.2
1.7
5.3
40.0
100.0
11
241
269
501
127
11
44
151
799
1.3
28.2
31.5
61.0
14.9
1.3
5.2
17.7
100.0
14,972
353,273
454,258
822,503
944,843
47,176
186,061
3,848,821
5,849,404
0.3
6.0
7.8
14.1
16.2
0.8
3.2
65.8
100.0
17
206
235
448
216
11
22
187
869
1.9
23.0
26.3
51.2
24.2
1.2
2.5
20.9
100.0
45,000
614,048
295,289
229,451
385,345
275,980
139,577
416,418
235,079
100,804
115,879
454,301
7,695
105,026
25,012
3,444,903
400,889
1.3
17.8
8.6
6.7
11.2
8.0
4.1
12.1
6.8
2.9
3.4
13.2
0.2
3.0
0.7
100.0
11.6
9
85
59
14
137
132
14
90
42
46
10
129
4
13
15
799
208
1.1
10.6
7.4
1.8
17.1
16.5
1.8
11.3
5.3
5.8
1.3
16.1
0.5
1.6
1.9
100.0
26.0
70,057
427,127
407,734
100,150
390,489
380,115
161,893
1,615,296
481,463
148,602
25,272
1,389,142
35,459
204,754
11,850
5,849,404
657,097
1.2
7.3
7.0
1.7
6.7
6.5
2.8
27.6
8.2
2.5
0.4
23.7
0.6
3.5
0.2
100.0
11.2
11
79
83
14
128
134
36
118
58
44
9
125
5
21
4
869
195
1.3
9.1
9.6
1.6
14.7
15.4
4.1
13.6
6.7
5.1
1.0
14.4
0.6
2.4
0.5
100.0
22.4
1,702,055
1,742,848
3,444,903
49.4
50.6
100.0
444
395
799
52.9
47.1
100.0
2,094,711
3,754,693
5,849,404
35.8
64.2
100.0
496
412
869
54.6
45.4
100.0
1,309,366
1,962,478
38.0
57.0
323
433
38.5
51.7
1,992,527
3,854,564
34.1
65.9
388
502
43.4
56.2
173,059
3,444,903
2,127,795
5.0
100.0
61.8
82
799
448
9.8
100.0
56.1
2,312
5,849,404
4,518,318
0.0
100.0
77.2
3
869
534
0.3
100.0
61.4
2,852,544
500,306
92,053
3,444,903
82.8
14.5
2.7
100.0
686
90
23
799
85.9
11.3
2.9
100.0
5,287,686
459,650
102,068
5,849,404
90.4
7.9
1.7
100.0
753
98
18
869
86.7
11.3
2.1
100.0
162,000
106,845
57,051
4.7
3.1
1.7
1
18
8
0.1
2.3
1.0
103,030
96,209
89,536
1.8
1.6
1.5
14
14
8
1.6
1.6
0.9
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Sweden
Germany
Switzerland
US
Belgium
Netherlands
Table of Contents
France
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
789,320
588,110
0
0
1,377,430
57.3
42.7
0.0
0.0
100.0
144
13
0
0
151
91.7
8.3
0.0
0.0
100.0
999,923
1,696,421
724,804
427,673
3,848,821
26.0
44.1
18.8
11.1
100.0
169
32
3
1
187
82.4
15.6
1.5
0.5
100.0
Amount
Number of
companies
Amount
Number of
companies
3,065,727
378,751
425
3,444,903
89.0
11.0
0.0
100.0
720
147
1
799
82.9
16.9
0.1
100.0
5,290,607
546,402
12,395
5,849,404
90.4
9.3
0.2
100.0
796
153
3
869
83.6
16.1
0.3
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
France
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
16,219
289,897
534,737
840,853
705,403
141,816
151,572
1,301,440
3,141,084
0.5
9.2
17.0
26.8
22.5
4.5
4.8
41.4
100.0
11
200
237
426
121
12
44
148
716
1.4
25.9
30.7
58.0
15.7
1.6
5.7
19.1
100.0
14,002
290,422
436,374
740,798
863,177
49,452
61,506
4,794,835
6,509,768
0.2
4.5
6.7
11.4
13.3
0.8
0.9
73.7
100.0
16
163
204
372
205
11
19
184
777
2.0
20.3
25.4
47.8
25.6
1.4
2.4
22.9
100.0
45,000
528,309
360,943
59,738
370,496
260,052
139,577
381,570
254,265
102,772
115,879
382,937
7,695
105,826
26,024
3,141,084
314,489
1.4
16.8
11.5
1.9
11.8
8.3
4.4
12.1
8.1
3.3
3.7
12.2
0.2
3.4
0.8
100.0
10.0
9
82
55
11
118
120
14
86
44
45
10
87
4
14
17
716
154
1.3
11.5
7.7
1.5
16.5
16.8
2.0
12.0
6.1
6.3
1.4
12.2
0.6
2.0
2.4
100.0
21.5
81,057
450,883
419,965
42,194
279,466
440,750
145,515
2,205,648
453,478
127,635
25,292
1,586,518
35,459
204,057
11,850
6,509,768
742,651
1.2
6.9
6.5
0.6
4.3
6.8
2.2
33.9
7.0
2.0
0.4
24.4
0.5
3.1
0.2
100.0
11.4
12
74
81
10
104
114
34
115
58
40
10
96
5
20
4
777
137
1.5
9.5
10.4
1.3
13.4
14.7
4.4
14.8
7.5
5.1
1.3
12.4
0.6
2.6
0.5
100.0
17.6
1,408,078
1,733,005
3,141,084
44.8
55.2
100.0
425
333
716
56.1
43.9
100.0
2,859,568
3,650,199
6,509,768
43.9
56.1
100.0
465
348
777
57.2
42.8
100.0
1,219,848
1,748,177
38.8
55.7
314
358
41.6
47.5
2,131,082
4,375,874
32.7
67.2
380
417
47.4
52.1
173,059
3,141,084
2,073,071
5.5
100.0
66.0
82
716
420
10.9
100.0
58.7
2,812
6,509,768
5,471,340
0.0
100.0
84.0
4
777
510
0.5
100.0
65.6
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
France
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
785,473
515,967
0
0
1,301,440
60.4
39.6
0.0
0.0
100.0
143
11
0
0
148
92.9
7.1
0.0
0.0
100.0
1,012,450
1,838,063
916,649
1,027,673
4,794,835
21.1
38.3
19.1
21.4
100.0
165
33
4
2
184
80.9
16.2
2.0
1.0
100.0
Amount
Number of
companies
Amount
Number of
companies
5,600
64,712
24,968
6,755
176,952
175,841
1,900
94,727
62,983
71,272
3,313
143,543
875
4,833
2,579
840,853
248,011
0.7
7.7
3.0
0.8
21.0
20.9
0.2
11.3
7.5
8.5
0.4
17.1
0.1
0.6
0.3
100.0
29.5
3
33
19
6
89
100
4
37
17
39
5
64
2
4
4
426
137
0.7
7.7
4.5
1.4
20.9
23.5
0.9
8.7
4.0
9.2
1.2
15.0
0.5
0.9
0.9
100.0
32.2
2,867
44,518
23,035
1,500
129,128
151,714
8,549
51,888
36,591
49,659
5,072
226,454
5,439
3,783
600
740,798
249,584
0.4
6.0
3.1
0.2
17.4
20.5
1.2
7.0
4.9
6.7
0.7
30.6
0.7
0.5
0.1
100.0
33.7
2
33
18
3
68
80
5
35
22
23
5
70
3
3
2
372
109
0.5
8.9
4.8
0.8
18.3
21.5
1.3
9.4
5.9
6.2
1.3
18.8
0.8
0.8
0.5
100.0
29.3
39,400
463,598
335,975
52,983
193,544
84,211
137,677
286,843
191,282
31,500
112,566
239,393
6,820
100,994
23,445
2,300,231
66,477
1.7
20.2
14.6
2.3
8.4
3.7
6.0
12.5
8.3
1.4
4.9
10.4
0.3
4.4
1.0
100.0
2.9
6
51
36
5
35
21
10
49
28
7
5
30
2
10
14
309
21
1.9
16.5
11.7
1.6
11.3
6.8
3.2
15.9
9.1
2.3
1.6
9.7
0.6
3.2
4.5
100.0
6.8
78,190
406,365
396,929
40,694
150,338
289,036
136,966
2,153,760
416,887
77,976
20,220
1,360,065
30,020
200,274
11,250
5,768,970
493,066
1.4
7.0
6.9
0.7
2.6
5.0
2.4
37.3
7.2
1.4
0.4
23.6
0.5
3.5
0.2
100.0
8.5
10
41
64
7
36
37
29
80
37
17
5
28
2
17
2
412
30
2.4
10.0
15.5
1.7
8.7
9.0
7.0
19.4
9.0
4.1
1.2
6.8
0.5
4.1
0.5
100.0
7.3

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
France
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
428,092
202,291
4,289
198,002
445,578
0
20,052
190,903
48,203
102,438
68,537
1,506,093
28.4
13.4
29.6
0.0
1.3
12.7
3.2
6.8
4.6
100.0
80
32
2
30
29
0
17
47
9
34
23
249
29.5
11.8
10.7
0.0
6.3
17.3
3.3
12.5
8.5
100.0
743,025
466,831
236,551
230,280
273,363
2,433
78,899
1,767,562
16,159
152,187
162,240
3,662,699
20.3
12.7
7.5
0.1
2.2
48.3
0.4
4.2
4.4
100.0
81
58
5
53
22
2
10
83
7
50
27
320
23.8
17.1
6.5
0.6
2.9
24.4
2.1
14.7
7.9
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
248
67
82
99
81,801
8,698
36,984
36,119
0.16%
0.18%
1,907
1,113
164
119.3
105.5
0.7%
3.7%
108.1
9.1%
0.33%
0.30%
1,946
1,145
167
121.1
109.1
1.0%
3.1%
112.2
9.3%
27,116
1,085
36,300
1,291
928
12
587
24

* DATASTREAM
Table of Contents
France
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
999,536
193,756
4,289
189,466
433,635
0
19,639
191,873
94,893
106,513
77,717
2,117,560
1,896
144,649
344,632
15,582
110,951
184,005
58,595
899,603
114,195
2,774
8,938
181,773
0
29,978
19,988
2,117,560
47.2
9.1
20.5
0.0
0.9
9.1
4.5
5.0
3.7
100.0
80
27
2
25
28
0
16
46
10
34
26
241
0.1
6.8
16.3
0.7
5.2
8.7
2.8
42.5
5.4
0.1
0.4
8.6
0.0
1.4
0.9
100.0
1
18
13
6
33
49
7
36
17
3
6
30
0
6
16
241
30.0
10.1
10.5
0.0
6.0
17.2
3.7
12.7
9.7
100.0
872,443
380,396
179,939
200,457
223,967
2,433
92,787
1,755,973
14,036
135,154
82,649
3,559,838
0.4
7.5
5.4
2.5
13.7
20.3
2.9
14.9
7.1
1.2
2.5
12.4
0.0
2.5
6.6
100.0
36,991
299,253
256,611
25,792
85,538
248,188
31,456
1,437,386
201,127
41,037
67,334
782,164
5,233
32,015
9,712
3,559,838
24.5
10.7
6.3
0.1
2.6
49.3
0.4
3.8
2.3
100.0
80
53
4
49
17
2
11
77
6
47
23
296
25.3
16.8
5.4
0.6
3.5
24.4
1.9
14.9
7.3
100.0
1.0
8.4
7.2
0.7
2.4
7.0
0.9
40.4
5.6
1.2
1.9
22.0
0.1
0.9
0.3
100.0
3
34
32
4
25
62
7
48
11
7
4
44
3
7
5
296
1.0
11.5
10.8
1.4
8.4
20.9
2.4
16.2
3.7
2.4
1.4
14.9
1.0
2.4
1.7
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
France
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
234,493
40,372
4,289
36,083
36,352
0
4,867
49,718
43,203
17,445
43,320
469,769
1,896
4,681
18,336
3,577
103,966
130,709
585
50,648
9,546
2,774
4,816
127,386
0
1,886
8,964
469,769
49.9
8.6
7.7
0.0
1.0
10.6
9.2
3.7
9.2
100.0
51
22
2
20
23
0
13
21
8
13
17
149
0.4
1.0
3.9
0.8
22.1
27.8
0.1
10.8
2.0
0.6
1.0
27.1
0.0
0.4
1.9
100.0
1
6
4
3
29
44
1
12
8
3
4
26
0
1
7
149
30.4
13.1
13.7
0.0
7.7
12.5
4.8
7.7
10.1
100.0
177,545
53,398
2,895
50,503
14,527
350
238
43,978
10,670
20,437
15,246
336,389
0.7
4.0
2.7
2.0
19.5
29.5
0.7
8.1
5.4
2.0
2.7
17.4
0.0
0.7
4.7
100.0
120
15,647
8,346
10,919
34,813
159,211
2,366
4,275
2,612
10,599
192
83,028
500
547
3,215
336,389
52.8
15.9
4.3
0.1
0.1
13.1
3.2
6.1
4.5
100.0
40
42
2
40
5
1
3
25
4
10
17
134
27.2
28.6
3.4
0.7
2.0
17.0
2.7
6.8
11.6
100.0
0.0
4.7
2.5
3.2
10.3
47.3
0.7
1.3
0.8
3.2
0.1
24.7
0.1
0.2
1.0
100.0
1
6
15
2
21
47
1
5
2
3
1
24
1
3
2
134
0.7
4.5
11.2
1.5
15.7
35.1
0.7
3.7
1.5
2.2
0.7
17.9
0.7
2.2
1.5
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
France
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
765,043
153,384
0
153,384
397,283
0
14,772
142,155
51,690
89,067
34,396
1,647,791
0
139,968
326,296
12,005
6,985
53,295
58,011
848,955
104,649
0
4,122
54,388
0
28,093
11,024
1,647,791
46.4
9.3
24.1
0.0
0.9
8.6
3.1
5.4
2.1
100.0
30
5
0
5
5
0
3
25
2
21
9
95
0.0
8.5
19.8
0.7
0.4
3.2
3.5
51.5
6.4
0.0
0.3
3.3
0.0
1.7
0.7
100.0
0
14
9
3
5
5
6
24
9
0
2
4
0
5
9
95
30.0
5.0
5.0
0.0
3.0
25.0
2.0
21.0
9.0
100.0
694,898
326,999
177,044
149,954
209,440
2,083
92,549
1,711,996
3,365
114,717
67,403
3,223,448
0.0
14.7
9.5
3.2
5.3
5.3
6.3
25.3
9.5
0.0
2.1
4.2
0.0
5.3
9.5
100.0
36,871
283,606
248,266
14,873
50,725
88,976
29,090
1,433,111
198,515
30,438
67,142
699,136
4,733
31,468
6,497
3,223,448
21.6
10.1
6.5
0.1
2.9
53.1
0.1
3.6
2.1
100.0
43
14
2
12
12
1
8
53
2
37
6
169
24.4
8.0
6.8
0.6
4.5
30.1
1.1
21.0
3.4
100.0
1.1
8.8
7.7
0.5
1.6
2.8
0.9
44.5
6.2
0.9
2.1
21.7
0.1
1.0
0.2
100.0
2
29
17
2
5
18
6
44
9
4
3
20
2
5
3
169
1.2
17.2
10.1
1.2
3.0
10.7
3.6
26.0
5.3
2.4
1.8
11.8
1.2
3.0
1.8
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
3,444,903
(592,359)
288,540
3,141,084
5,849,404
(561,718)
1,222,082
6,509,768
Amount
Amount
1,506,093
(338,180)
949,647
2,117,560
3,662,699
(289,397)
186,535
3,559,838
Table of Contents
Germany
Print

2009
2010
Amount
Amount
675,390
390,000
1,065,390
5,400
1,070,790
63.1
36.4
99.5
0.5
100.0
1,137,700
175,000
1,312,700
3,300
1,316,000
86.5
13.3
99.7
0.3
100.0
71,620
128,000
94,170
293,790
0
777,000
0
0
1,070,790
6.7
12.0
8.8
27.4
0.0
72.6
0.0
0.0
100.0
281,000
106,410
183,490
570,900
200,000
244,100
301,000
0
1,316,000
21.4
8.1
13.9
43.4
15.2
18.5
22.9
0.0
100.0
0
370,200
1,000
35,700
19,500
88,940
166,270
114,200
102,050
39,500
0.0
34.7
0.1
3.4
1.8
8.3
15.6
10.7
9.6
3.7
0
546,680
0
175,000
23,330
44,750
125,180
26,510
50,430
12,250
0.0
41.6
0.0
13.3
1.8
3.4
9.5
2.0
3.8
0.9
50,000
75,160
0
2,870
1,065,390
4.7
7.1
0.0
0.3
100.0
17,420
277,700
0
13,450
1,312,700
1.3
21.2
0.0
1.0
100.0
1,010,480
650,630
359,850
52,040
2,870
1,065,390
94.8
61.1
33.8
4.9
0.3
100.0
1,155,200
991,650
163,550
4,250
153,250
1,312,700
88.0
75.5
12.5
0.3
11.7
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Germany
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
120,670
150,000
113,100
383,770
0
350,000
0
0
733,770
2
1
4
7
0
1
0
0
8
60,335
150,000
28,275
54,824
0
350,000
0
0
91,721
0
46,900
160,590
207,490
0
155,000
0
0
362,490
0
1
3
4
0
1
0
0
5
0
46,900
53,530
51,873
0
155,000
0
0
72,498
0
0
0
0
0
279,470
2,000
452,300
733,770
0
0
0
0
0
4
1
3
8
0
0
0
0
0
69,868
2,000
150,767
91,721
0
0
0
0
0
0
0
362,490
362,490
0
0
0
0
0
0
0
5
5
0
0
0
0
0
0
0
72,498
72,498
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
279,470
2,000
102,300
383,770
0
0
0
0
0
4
1
2
7
0
0
0
0
0
0
0
350,000
350,000
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
207,490
207,490
0
0
0
0
0
0
0
4
4
0
0
0
0
0
0
0
155,000
155,000
0
0
0
0
0
0
0
1
1

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Germany
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
63,237
378,780
244,379
686,396
208,057
46,983
80,106
1,390,302
2,411,844
2.6
15.7
10.1
28.5
8.6
1.9
3.3
57.6
100.0
159
457
385
987
151
45
19
84
1,277
12.2
35.2
29.6
77.0
11.6
3.5
1.5
6.5
100.0
42,824
377,010
293,261
713,095
527,613
183,076
55,862
3,189,172
4,668,817
0.9
8.1
6.3
15.3
11.3
3.9
1.2
68.3
100.0
197
455
378
1,013
253
33
12
99
1,403
13.8
31.9
26.5
72.2
17.7
2.3
0.8
6.9
100.0
18,964
496,429
194,107
135,652
158,851
254,245
8,493
141,896
118,696
98,221
213,467
551,740
200
8,475
12,409
2,411,844
295,414
0.8
20.6
8.0
5.6
6.6
10.5
0.4
5.9
4.9
4.1
8.9
22.9
0.0
0.4
0.5
100.0
12.2
6
210
194
39
143
212
19
95
46
54
12
195
1
22
29
1,277
255
0.5
16.4
15.2
3.1
11.2
16.6
1.5
7.4
3.6
4.2
0.9
15.3
0.1
1.7
2.3
100.0
20.0
925
1,555,649
201,220
47,110
598,495
568,561
4,857
769,619
289,885
167,002
8,127
385,662
4,900
64,872
1,935
4,668,817
544,637
0.0
33.3
4.3
1.0
12.8
12.2
0.1
16.5
6.2
3.6
0.2
8.3
0.1
1.4
0.0
100.0
11.7
3
232
215
44
140
209
23
119
53
76
26
231
3
24
5
1,403
254
0.2
16.5
15.3
3.1
10.0
14.9
1.6
8.5
3.8
5.4
1.9
16.5
0.2
1.7
0.4
100.0
18.1
1,825,642
586,203
2,411,844
75.7
24.3
100.0
988
379
1,277
72.3
27.7
100.0
3,469,648
1,199,169
4,668,817
74.3
25.7
100.0
1,131
351
1,403
76.3
23.7
100.0
1,407,120
861,883
58.3
35.7
604
578
44.6
42.7
2,594,121
2,065,270
55.6
44.2
772
698
52.2
47.2
142,841
2,411,844
1,654,122
5.9
100.0
68.6
173
1,277
664
12.8
100.0
52.0
9,427
4,668,817
3,892,129
0.2
100.0
83.4
9
1,403
861
0.6
100.0
61.4
2,067,793
299,613
44,439
2,411,844
85.7
12.4
1.8
100.0
1,142
96
39
1,277
89.4
7.5
3.1
100.0
3,685,439
916,289
67,089
4,668,817
78.9
19.6
1.4
100.0
1,286
67
50
1,403
91.7
4.8
3.6
100.0
60,917
58,287
58,105
2.5
2.4
2.4
12
21
24
0.9
1.6
1.9
603,190
167,075
59,033
12.9
3.6
1.3
8
7
33
0.6
0.5
2.4
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Switzerland
Austria
Austria
Netherlands
United Kingdom
US
Table of Contents
Germany
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
263,451
678,951
447,900
0
1,390,302
18.9
48.8
32.2
0.0
100.0
64
18
2
0
84
76.2
21.4
2.4
0.0
100.0
211,325
1,493,198
440,260
1,044,388
3,189,172
6.6
46.8
13.8
32.7
100.0
61
38
2
2
99
59.2
36.9
1.9
1.9
100.0
Amount
Number of
companies
Amount
Number of
companies
2,218,127
186,549
7,168
2,411,844
92.0
7.7
0.3
100.0
1,173
126
12
1,277
89.5
9.6
0.9
100.0
4,532,063
128,656
8,099
4,668,817
97.1
2.8
0.2
100.0
1,283
133
20
1,403
89.3
9.3
1.4
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Germany
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
56,670
355,610
233,102
645,381
321,983
98,735
96,013
1,623,491
2,785,605
2.0
12.8
8.4
23.2
11.6
3.5
3.4
58.3
100.0
155
407
354
904
156
46
20
87
1,206
12.7
33.2
28.9
74.8
12.7
3.8
1.6
7.1
100.0
43,829
374,236
290,678
708,742
847,583
179,533
76,680
2,833,107
4,645,646
0.9
8.1
6.3
15.3
18.2
3.9
1.7
61.0
100.0
197
416
349
947
247
36
16
102
1,342
14.5
30.5
25.6
70.6
18.1
2.6
1.2
7.5
100.0
40
598,844
196,016
132,968
220,839
385,865
8,493
190,079
108,384
129,680
213,429
559,421
4,200
14,425
22,923
2,785,605
280,540
0.0
21.5
7.0
4.8
7.9
13.9
0.3
6.8
3.9
4.7
7.7
20.1
0.2
0.5
0.8
100.0
10.1
2
205
193
36
129
197
19
99
44
51
11
159
2
22
37
1,206
204
0.2
17.0
16.0
3.0
10.7
16.3
1.6
8.2
3.6
4.2
0.9
13.2
0.2
1.8
3.1
100.0
16.9
925
1,112,299
190,559
36,476
870,862
424,275
4,857
1,057,752
302,624
166,079
2,919
403,826
4,900
65,358
1,935
4,645,646
510,054
0.0
23.9
4.1
0.8
18.7
9.1
0.1
22.8
6.5
3.6
0.1
8.7
0.1
1.4
0.0
100.0
11.0
3
233
217
40
142
189
23
126
52
71
14
201
3
23
5
1,342
218
0.2
17.4
16.2
3.0
10.6
14.1
1.7
9.4
3.9
5.3
1.0
15.0
0.2
1.7
0.4
100.0
16.2
1,960,303
825,302
2,785,605
70.4
29.6
100.0
973
328
1,206
74.8
25.2
100.0
3,282,431
1,363,214
4,645,646
70.7
29.3
100.0
1,107
319
1,342
77.6
22.4
100.0
1,659,853
1,003,901
59.6
36.0
598
515
46.6
40.2
2,342,673
2,291,545
50.4
49.3
768
638
54.2
45.1
121,850
2,785,605
1,955,260
4.4
100.0
70.2
169
1,206
655
13.2
100.0
54.3
11,427
4,645,646
3,863,926
0.2
100.0
83.2
10
1,342
862
0.7
100.0
64.2
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Germany
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
228,548
947,043
447,900
0
1,623,491
14.1
58.3
27.6
0.0
100.0
65
22
2
0
87
73.0
24.7
2.2
0.0
100.0
231,330
1,711,518
440,260
450,000
2,833,107
8.2
60.4
15.5
15.9
100.0
62
42
2
1
102
57.9
39.3
1.9
0.9
100.0
Amount
Number of
companies
Amount
Number of
companies
0
57,208
45,977
11,022
102,915
108,189
2,831
34,433
5,684
90,026
1,280
167,868
200
5,350
12,400
645,381
230,800
0.0
8.9
7.1
1.7
15.9
16.8
0.4
5.3
0.9
13.9
0.2
26.0
0.0
0.8
1.9
100.0
35.8
0
111
153
30
118
170
13
49
23
44
4
146
1
15
27
904
190
0.0
12.3
16.9
3.3
13.1
18.8
1.4
5.4
2.5
4.9
0.4
16.2
0.1
1.7
3.0
100.0
21.0
925
79,587
66,063
11,667
107,203
113,595
1,926
35,629
9,213
38,753
831
225,988
2,900
12,728
1,735
708,742
277,184
0.1
11.2
9.3
1.6
15.1
16.0
0.3
5.0
1.3
5.5
0.1
31.9
0.4
1.8
0.2
100.0
39.1
3
123
172
29
118
159
12
58
33
42
2
175
2
15
4
947
196
0.3
13.0
18.2
3.1
12.5
16.8
1.3
6.1
3.5
4.4
0.2
18.5
0.2
1.6
0.4
100.0
20.7
40
541,636
150,039
121,946
117,924
277,676
5,662
155,646
102,700
39,654
212,149
391,553
4,000
9,075
10,523
2,140,223
49,740
0.0
25.3
7.0
5.7
5.5
13.0
0.3
7.3
4.8
1.9
9.9
18.3
0.2
0.4
0.5
100.0
2.3
2
94
42
7
11
27
6
50
21
8
7
13
1
7
10
306
16
0.7
30.7
13.7
2.3
3.6
8.8
2.0
16.3
6.9
2.6
2.3
4.2
0.3
2.3
3.3
100.0
5.2
0
1,032,712
124,496
24,809
763,659
310,680
2,931
1,022,123
293,411
127,326
2,088
177,838
2,000
52,631
200
3,936,903
232,870
0.0
26.2
3.2
0.6
19.4
7.9
0.1
26.0
7.5
3.2
0.1
4.5
0.1
1.3
0.0
100.0
5.9
0
110
45
11
25
31
11
68
19
29
12
26
1
9
1
398
23
0.0
27.6
11.3
2.8
6.3
7.8
2.8
17.1
4.8
7.3
3.0
6.5
0.3
2.3
0.3
100.0
5.8

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Germany
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
479,590
43,466
0
43,466
260,903
82,846
18,847
178,978
48,946
170,211
26,437
1,310,222
36.6
3.3
19.9
6.3
1.4
13.7
3.7
13.0
2.0
100.0
58
13
0
13
219
351
18
24
6
32
14
716
7.9
1.8
29.8
47.8
2.4
3.3
0.8
4.4
1.9
100.0
644,115
284,659
202,396
82,262
409,017
93,247
136,616
386,918
26,345
134,885
52,484
2,168,286
29.7
13.1
18.9
4.3
6.3
17.8
1.2
6.2
2.4
100.0
64
21
2
19
220
457
16
20
10
45
8
844
7.4
2.4
25.6
53.1
1.9
2.3
1.2
5.2
0.9
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
234
124
68
42
29,603
10,832
14,058
4,714
0.12%
0.10%
2,397
1,411
472
107.0
107.9
0.7%
3.2%
97.9
8.1%
0.19%
0.19%
2,499
1,444
487
108.2
109.7
1.0%
2.7%
100.3
7.7%
53,115
1,082
36,025
1,136
68
3
2,533
17

* DATASTREAM
Table of Contents
Germany
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
642,712
29,726
0
29,726
897,541
82,728
22,346
117,691
52,390
235,812
18,502
2,099,449
597
778,546
26,789
38,553
401,105
106,485
25,552
137,960
3,737
43,897
444,571
58,833
2,028
18,493
12,301
2,099,449
30.6
1.4
42.8
3.9
1.1
5.6
2.5
11.2
0.9
100.0
57
10
0
10
217
350
18
16
7
37
12
703
0.0
37.1
1.3
1.8
19.1
5.1
1.2
6.6
0.2
2.1
21.2
2.8
0.1
0.9
0.6
100.0
4
225
70
30
51
70
29
89
27
22
6
42
3
17
18
703
7.9
1.4
30.0
48.3
2.5
2.2
1.0
5.1
1.7
100.0
706,423
534,014
397,631
136,384
632,703
92,421
159,107
846,139
26,164
135,310
52,469
3,184,751
0.6
32.0
10.0
4.3
7.3
10.0
4.1
12.7
3.8
3.1
0.9
6.0
0.4
2.4
2.6
100.0
827
646,240
41,937
163,632
915,882
80,479
56,976
804,256
203,984
71,218
2,839
102,305
51,545
28,824
13,808
3,184,751
22.2
16.8
19.9
2.9
5.0
26.6
0.8
4.2
1.6
100.0
61
16
3
13
218
454
17
23
8
44
7
830
7.2
1.9
25.7
53.5
2.0
2.7
0.9
5.2
0.8
100.0
0.0
20.3
1.3
5.1
28.8
2.5
1.8
25.3
6.4
2.2
0.1
3.2
1.6
0.9
0.4
100.0
6
236
86
47
50
66
21
134
33
23
6
69
4
20
29
830
0.7
28.4
10.4
5.7
6.0
8.0
2.5
16.1
4.0
2.8
0.7
8.3
0.5
2.4
3.5
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Germany
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
92,890
26,895
0
26,895
71,034
46,346
1,772
24,346
0
8,313
11,841
283,438
231
34,637
16,290
20,866
47,197
54,380
2,472
11,214
2,653
38,058
419
39,012
740
3,309
11,960
283,438
32.8
9.5
25.1
16.4
0.6
8.6
0.0
2.9
4.2
100.0
28
8
0
8
163
280
9
10
0
12
8
504
0.1
12.2
5.7
7.4
16.7
19.2
0.9
4.0
0.9
13.4
0.1
13.8
0.3
1.2
4.2
100.0
2
138
52
27
41
58
24
61
21
17
2
33
2
11
15
504
5.4
1.5
31.5
54.1
1.7
1.9
0.0
2.3
1.5
100.0
101,667
37,532
0
37,532
104,067
52,366
2,120
26,051
9,862
7,055
612
341,331
0.4
27.4
10.3
5.4
8.1
11.5
4.8
12.1
4.2
3.4
0.4
6.5
0.4
2.2
3.0
100.0
787
57,130
13,126
15,287
50,638
39,874
1,358
26,181
7,413
22,184
1,656
94,709
406
5,778
4,804
341,331
29.8
11.0
30.5
15.3
0.6
7.6
2.9
2.1
0.2
100.0
37
10
0
10
168
306
6
6
5
17
3
544
6.6
1.8
30.1
54.8
1.1
1.1
0.9
3.0
0.5
100.0
0.2
16.7
3.8
4.5
14.8
11.7
0.4
7.7
2.2
6.5
0.5
27.7
0.1
1.7
1.4
100.0
3
161
49
28
38
48
12
68
23
19
2
57
2
15
19
544
0.6
29.6
9.0
5.1
7.0
8.8
2.2
12.5
4.2
3.5
0.4
10.5
0.4
2.8
3.5
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Germany
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
549,822
2,831
0
2,831
826,506
36,382
20,574
93,345
52,390
227,499
6,662
1,816,010
366
743,909
10,500
17,688
353,908
52,105
23,079
126,746
1,084
5,839
444,152
19,821
1,288
15,184
341
1,816,010
30.3
0.2
45.5
2.0
1.1
5.1
2.9
12.5
0.4
100.0
29
3
0
3
55
91
9
6
7
25
4
224
0.0
41.0
0.6
1.0
19.5
2.9
1.3
7.0
0.1
0.3
24.5
1.1
0.1
0.8
0.0
100.0
2
93
21
5
11
13
7
32
7
7
4
11
1
7
3
224
12.7
1.3
24.0
39.7
3.9
2.6
3.1
10.9
1.7
100.0
604,756
496,482
397,631
98,852
528,636
40,055
156,987
820,089
16,302
128,255
51,857
2,843,419
0.9
41.5
9.4
2.2
4.9
5.8
3.1
14.3
3.1
3.1
1.8
4.9
0.4
3.1
1.3
100.0
40
589,110
28,811
148,345
865,244
40,605
55,618
778,075
196,571
49,034
1,183
7,596
51,139
23,046
9,004
2,843,419
21.3
17.5
18.6
1.4
5.5
28.8
0.6
4.5
1.8
100.0
24
7
3
4
50
158
11
18
3
27
4
298
7.9
2.3
16.6
52.3
3.6
6.0
1.0
8.9
1.3
100.0
0.0
20.7
1.0
5.2
30.4
1.4
2.0
27.4
6.9
1.7
0.0
0.3
1.8
0.8
0.3
100.0
3
76
38
20
12
20
9
68
11
5
4
14
2
5
11
298
1.0
25.5
12.8
6.7
4.0
6.7
3.0
22.8
3.7
1.7
1.3
4.7
0.7
1.7
3.7
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
2,411,844
(344,051)
717,811
2,785,605
4,668,817
(983,378)
960,206
4,645,646
Amount
Amount
1,310,222
(243,732)
1,032,958
2,099,449
2,168,286
(164,083)
1,180,547
3,184,751
Table of Contents
Greece
Print

2009
2010
Amount
Amount
200,000
0
200,000
0
200,000
100.0
0.0
100.0
0.0
100.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
200,000
200,000
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
200,000
0
0
0
0
0
0
0
0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
200,000
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
200,000
200,000
0
0
0
200,000
100.0
100.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Greece
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Greece
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
5,150
9,928
15,078
6,267
0
0
19,728
41,073
0.0
12.5
24.2
36.7
15.3
0.0
0.0
48.0
100.0
0
2
2
4
1
0
0
1
6
0.0
33.3
33.3
66.7
16.7
0.0
0.0
16.7
100.0
0
0
0
0
10,000
0
0
0
10,000
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
0
1
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0
0
1,500
0
14,695
19,728
0
0
0
150
0
5,000
0
0
0
41,073
0
0.0
0.0
3.7
0.0
35.8
48.0
0.0
0.0
0.0
0.4
0.0
12.2
0.0
0.0
0.0
100.0
0.0
0
0
1
0
2
1
0
0
0
1
0
1
0
0
0
6
0
0.0
0.0
16.7
0.0
33.3
16.7
0.0
0.0
0.0
16.7
0.0
16.7
0.0
0.0
0.0
100.0
0.0
0
0
0
0
0
0
0
0
10,000
0
0
0
0
0
0
10,000
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
1
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
32,645
8,428
41,073
79.5
20.5
100.0
5
1
6
83.3
16.7
100.0
0
10,000
10,000
0.0
100.0
100.0
0
1
1
0.0
100.0
100.0
12,917
28,156
31.4
68.6
4
2
66.7
33.3
0
10,000
0.0
100.0
0
1
0.0
100.0
0
41,073
21,345
0.0
100.0
52.0
0
6
5
0.0
100.0
83.3
0
10,000
0
0.0
100.0
0.0
0
1
0
0.0
100.0
0.0
15,078
25,995
0
41,073
36.7
63.3
0.0
100.0
4
2
0
6
66.7
33.3
0.0
100.0
10,000
0
0
10,000
100.0
0.0
0.0
100.0
1
0
0
1
100.0
0.0
0.0
100.0
19,728
6,267
0
48.0
15.3
0.0
1
1
0
16.7
16.7
0.0
0
0
0
0.0
0.0
0.0
0
0
0
0.0
0.0
0.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Romania
Bosnia-Herzegovina -
Table of Contents
Greece
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
0
19,728
0
0
19,728
0.0
100.0
0.0
0.0
100.0
0
1
0
0
1
0.0
100.0
0.0
0.0
100.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
Amount
Number of
companies
Amount
Number of
companies
41,073
0
0
41,073
100.0
0.0
0.0
100.0
6
0
0
6
100.0
0.0
0.0
100.0
10,000
0
0
10,000
100.0
0.0
0.0
100.0
1
0
0
1
100.0
0.0
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Greece
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
5,150
14,034
19,184
0
0
0
135,853
155,037
0.0
3.3
9.1
12.4
0.0
0.0
0.0
87.6
100.0
0
2
2
4
0
0
0
2
6
0.0
33.3
33.3
66.7
0.0
0.0
0.0
33.3
100.0
0
0
0
0
20,030
0
14,100
0
34,130
0.0
0.0
0.0
0.0
58.7
0.0
41.3
0.0
100.0
0
0
0
0
1
0
1
0
2
0.0
0.0
0.0
0.0
50.0
0.0
50.0
0.0
100.0
0
0
1,500
45,653
12,534
0
0
0
0
150
0
95,200
0
0
0
155,037
0
0.0
0.0
1.0
29.4
8.1
0.0
0.0
0.0
0.0
0.1
0.0
61.4
0.0
0.0
0.0
100.0
0.0
0
0
1
1
1
0
0
0
0
1
0
2
0
0
0
6
0
0.0
0.0
16.7
16.7
16.7
0.0
0.0
0.0
0.0
16.7
0.0
33.3
0.0
0.0
0.0
100.0
0.0
0
0
0
0
0
0
0
0
34,130
0
0
0
0
0
0
34,130
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0
0
0
0
0
0
0
0
2
0
0
0
0
0
0
2
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
144,037
11,000
155,037
92.9
7.1
100.0
6
1
6
85.7
14.3
100.0
24,130
10,000
34,130
70.7
29.3
100.0
2
1
2
66.7
33.3
100.0
142,503
12,534
91.9
8.1
5
1
83.3
16.7
0
34,130
0.0
100.0
0
2
0.0
100.0
0
155,037
150,931
0.0
100.0
97.4
0
6
6
0.0
100.0
100.0
0
34,130
10,030
0.0
100.0
29.4
0
2
1
0.0
100.0
50.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Greece
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
0
135,853
0
0
135,853
0.0
100.0
0.0
0.0
100.0
0
2
0
0
2
0.0
100.0
0.0
0.0
100.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
Amount
Number of
companies
Amount
Number of
companies
0
0
1,500
0
12,534
0
0
0
0
150
0
5,000
0
0
0
19,184
0
0.0
0.0
7.8
0.0
65.3
0.0
0.0
0.0
0.0
0.8
0.0
26.1
0.0
0.0
0.0
100.0
0.0
0
0
1
0
1
0
0
0
0
1
0
1
0
0
0
4
0
0.0
0.0
25.0
0.0
25.0
0.0
0.0
0.0
0.0
25.0
0.0
25.0
0.0
0.0
0.0
100.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
45,653
0
0
0
0
0
0
0
90,200
0
0
0
135,853
0
0.0
0.0
0.0
33.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
66.4
0.0
0.0
0.0
100.0
0.0
0
0
0
1
0
0
0
0
0
0
0
1
0
0
0
2
0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
100.0
0.0
0
0
0
0
0
0
0
0
34,130
0
0
0
0
0
0
34,130
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0
0
0
0
0
0
0
0
2
0
0
0
0
0
0
2
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Greece
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
0
6,916
0
0
3,000
9,916
0.0
0.0
0.0
0.0
0.0
69.7
0.0
0.0
30.3
100.0
0
0
0
0
0
0
0
1
0
0
1
2
0.0
0.0
0.0
0.0
0.0
50.0
0.0
0.0
50.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
6
3
2
1
684
96
539
49
0.07%
0.02%
235
174
45
100.0
114.1
0.7%
5.2%
112.3
9.4%
0.01%
0.00%
229
n.a.
n.a.
104.7
121.7
1.0%
9.1%
111.0
12.5%
3,004
89
1,523
52
18
3
311
4

* DATASTREAM
Table of Contents
Greece
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
0
0
0
0
3,000
3,000
0
0
0
0
0
0
0
0
3,000
0
0
0
0
0
0
3,000
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
0
0
0
0
0
0
1
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
0
0
0
0
0
3,000
0
3,000
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
3,000
0
0
0
0
0
0
0
0
0
0
3,000
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
100.0
0
0
0
0
0
0
0
0
0
1
0
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
100.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Greece
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
3,000
0
3,000
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
3,000
0
0
0
0
0
0
0
0
0
0
3,000
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
100.0
0
0
0
0
0
0
0
0
0
1
0
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
100.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Greece
Print

2009
2010
Amount
at cost
Number of
companies
Amount
at cost
Number of
companies
0
0
0
0
0
0
0
0
0
0
3,000
3,000
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
0
0
0
0
0
0
1
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
3,000
0
0
0
0
0
0
3,000
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Exit route
Sale to management
Total divestment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
41,073
(25,995)
139,959
155,037
10,000
(0)
24,130
34,130
Amount
Amount
9,916
(6,916)
0
3,000
0
(0)
3,000
3,000
Table of Contents
Hungary
Print

2009
2010
Amount
Amount
35,120
0
35,120
0
35,120
100.0
0.0
100.0
0.0
100.0
119,050
0
119,050
0
119,050
100.0
0.0
100.0
0.0
100.0
0
0
0
0
0
31,450
0
3,670
35,120
0.0
0.0
0.0
0.0
0.0
89.6
0.0
10.4
100.0
73,020
0
46,030
119,050
0
0
0
0
119,050
61.3
0.0
38.7
100.0
0.0
0.0
0.0
0.0
100.0
0
0
0
790
0
0
3,540
0
0
0
0.0
0.0
0.0
2.2
0.0
0.0
10.1
0.0
0.0
0.0
0
4,140
0
0
0
0
0
94,460
0
0
0.0
3.5
0.0
0.0
0.0
0.0
0.0
79.3
0.0
0.0
0
30,790
0
0
35,120
0.0
87.7
0.0
0.0
100.0
0
0
0
20,450
119,050
0.0
0.0
0.0
17.2
100.0
21,370
21,370
0
13,750
0
35,120
60.8
60.8
0.0
39.2
0.0
100.0
98,600
9,690
88,910
0
20,450
119,050
82.8
8.1
74.7
0.0
17.2
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Hungary
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
63,620
0
46,030
109,650
0
0
0
0
109,650
3
0
2
5
0
0
0
0
5
21,207
0
23,015
21,930
0
0
0
0
21,930
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
109,650
109,650
0
0
0
0
0
0
0
5
5
0
0
0
0
0
0
0
21,930
21,930
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
109,650
109,650
0
0
0
0
0
0
0
5
5
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Hungary
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
529
362
891
2,956
0
0
187,424
191,271
0.0
0.3
0.2
0.5
1.5
0.0
0.0
98.0
100.0
0
2
1
3
5
0
0
2
10
0.0
20.0
10.0
30.0
50.0
0.0
0.0
20.0
100.0
853
5,761
11,286
17,900
10,105
0
0
17,199
45,204
1.9
12.7
25.0
39.6
22.4
0.0
0.0
38.0
100.0
1
7
3
11
4
0
0
2
17
5.9
41.2
17.6
64.7
23.5
0.0
0.0
11.8
100.0
0
0
0
0
187,424
0
362
1,484
0
2,000
0
0
0
0
0
191,271
189,424
0.0
0.0
0.0
0.0
98.0
0.0
0.2
0.8
0.0
1.0
0.0
0.0
0.0
0.0
0.0
100.0
99.0
0
0
0
0
2
0
1
6
0
1
0
0
0
0
0
10
3
0.0
0.0
0.0
0.0
20.0
0.0
10.0
60.0
0.0
10.0
0.0
0.0
0.0
0.0
0.0
100.0
30.0
0
191
608
3,399
18,030
2,018
0
177
0
0
13,055
4,236
0
3,489
0
45,204
20,805
0.0
0.4
1.3
7.5
39.9
4.5
0.0
0.4
0.0
0.0
28.9
9.4
0.0
7.7
0.0
100.0
46.0
0
1
1
1
3
2
0
1
0
0
2
4
0
2
0
17
5
0.0
5.9
5.9
5.9
17.6
11.8
0.0
5.9
0.0
0.0
11.8
23.5
0.0
11.8
0.0
100.0
29.4
6,271
185,000
191,271
3.3
96.7
100.0
9
1
10
90.0
10.0
100.0
35,980
9,224
45,204
79.6
20.4
100.0
17
1
17
94.4
5.6
100.0
3,612
187,659
1.9
98.1
6
4
60.0
40.0
24,262
20,941
53.7
46.3
13
4
76.5
23.5
0
191,271
3,612
0.0
100.0
1.9
0
10
6
0.0
100.0
60.0
0
45,204
24,262
0.0
100.0
53.7
0
17
13
0.0
100.0
76.5
189,271
2,000
0
191,271
99.0
1.0
0.0
100.0
9
1
0
10
90.0
10.0
0.0
100.0
41,996
3,208
0
45,204
92.9
7.1
0.0
100.0
16
1
0
17
94.1
5.9
0.0
100.0
2,000
0
0
1.0
0.0
0.0
1
0
0
10.0
0.0
0.0
3,208
0
0
7.1
0.0
0.0
1
0
0
5.9
0.0
0.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Austria
Serbia
-
Table of Contents
Hungary
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
2,424
0
185,000
0
187,424
1.3
0.0
98.7
0.0
100.0
1
0
1
0
2
50.0
0.0
50.0
0.0
100.0
17,199
0
0
0
17,199
100.0
0.0
0.0
0.0
100.0
2
0
0
0
2
100.0
0.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
191,271
0
0
191,271
100.0
0.0
0.0
100.0
10
0
0
10
100.0
0.0
0.0
100.0
45,204
0
0
45,204
100.0
0.0
0.0
100.0
17
0
0
17
100.0
0.0
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Hungary
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
1,255
362
1,617
956
0
8,640
202,424
213,637
0.0
0.6
0.2
0.8
0.4
0.0
4.0
94.8
100.0
0
3
1
4
4
0
1
2
11
0.0
27.3
9.1
36.4
36.4
0.0
9.1
18.2
100.0
853
5,761
11,286
17,900
6,897
0
0
40,249
65,046
1.3
8.9
17.4
27.5
10.6
0.0
0.0
61.9
100.0
1
7
3
11
3
0
0
3
17
5.9
41.2
17.6
64.7
17.6
0.0
0.0
17.6
100.0
0
0
0
0
202,424
726
362
1,484
0
0
8,640
0
0
0
0
213,637
203,150
0.0
0.0
0.0
0.0
94.8
0.3
0.2
0.7
0.0
0.0
4.0
0.0
0.0
0.0
0.0
100.0
95.1
0
0
0
0
2
1
1
6
0
0
1
0
0
0
0
11
3
0.0
0.0
0.0
0.0
18.2
9.1
9.1
54.5
0.0
0.0
9.1
0.0
0.0
0.0
0.0
100.0
27.3
0
191
608
3,399
14,822
2,018
0
177
0
0
36,105
4,236
0
3,489
0
65,046
17,597
0.0
0.3
0.9
5.2
22.8
3.1
0.0
0.3
0.0
0.0
55.5
6.5
0.0
5.4
0.0
100.0
27.1
0
1
1
1
2
2
0
1
0
0
3
4
0
2
0
17
4
0.0
5.9
5.9
5.9
11.8
11.8
0.0
5.9
0.0
0.0
17.6
23.5
0.0
11.8
0.0
100.0
23.5
13,637
200,000
213,637
6.4
93.6
100.0
10
1
11
90.9
9.1
100.0
55,822
9,224
65,046
85.8
14.2
100.0
17
1
17
94.4
5.6
100.0
4,338
209,299
2.0
98.0
7
4
63.6
36.4
47,312
17,733
72.7
27.3
14
3
82.4
17.6
0
213,637
19,338
0.0
100.0
9.1
0
11
8
0.0
100.0
72.7
0
65,046
47,312
0.0
100.0
72.7
0
17
14
0.0
100.0
82.4
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Hungary
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
2,424
15,000
185,000
0
202,424
1.2
7.4
91.4
0.0
100.0
1
1
1
0
2
33.3
33.3
33.3
0.0
100.0
17,199
23,050
0
0
40,249
42.7
57.3
0.0
0.0
100.0
2
1
0
0
3
66.7
33.3
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
0
0
0
0
726
362
529
0
0
0
0
0
0
0
1,617
726
0.0
0.0
0.0
0.0
0.0
44.9
22.4
32.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
44.9
0
0
0
0
0
1
1
2
0
0
0
0
0
0
0
4
1
0.0
0.0
0.0
0.0
0.0
25.0
25.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
25.0
0
0
608
0
678
2,018
0
177
0
0
10,000
4,236
0
182
0
17,900
3,453
0.0
0.0
3.4
0.0
3.8
11.3
0.0
1.0
0.0
0.0
55.9
23.7
0.0
1.0
0.0
100.0
19.3
0
0
1
0
1
2
0
1
0
0
1
4
0
1
0
11
3
0.0
0.0
9.1
0.0
9.1
18.2
0.0
9.1
0.0
0.0
9.1
36.4
0.0
9.1
0.0
100.0
27.3
0
0
0
0
202,424
0
0
956
0
0
8,640
0
0
0
0
212,020
202,424
0.0
0.0
0.0
0.0
95.5
0.0
0.0
0.5
0.0
0.0
4.1
0.0
0.0
0.0
0.0
100.0
95.5
0
0
0
0
2
0
0
4
0
0
1
0
0
0
0
7
2
0.0
0.0
0.0
0.0
28.6
0.0
0.0
57.1
0.0
0.0
14.3
0.0
0.0
0.0
0.0
100.0
28.6
0
191
0
3,399
14,144
0
0
0
0
0
26,105
0
0
3,307
0
47,145
14,144
0.0
0.4
0.0
7.2
30.0
0.0
0.0
0.0
0.0
0.0
55.4
0.0
0.0
7.0
0.0
100.0
30.0
0
1
0
1
1
0
0
0
0
0
2
0
0
1
0
6
1
0.0
16.7
0.0
16.7
16.7
0.0
0.0
0.0
0.0
0.0
33.3
0.0
0.0
16.7
0.0
100.0
16.7

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Hungary
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
752
756
756
0
0
0
0
0
0
2,071
0
3,579
21.0
21.1
0.0
0.0
0.0
0.0
0.0
57.9
0.0
100.0
1
1
1
0
0
0
0
0
0
4
0
6
16.7
16.7
0.0
0.0
0.0
0.0
0.0
66.7
0.0
100.0
9,887
0
0
0
0
0
115
0
0
2,133
0
12,135
81.5
0.0
0.0
0.0
0.9
0.0
0.0
17.6
0.0
100.0
1
0
0
0
0
0
2
0
0
7
0
8
10.0
0.0
0.0
0.0
20.0
0.0
0.0
70.0
0.0
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Producer prices (April previous year=100)*
Interest rates (3-month - interbank middle rate)*
Retail sales (previous year=100)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
13
7
3
3
331
232
46
53
0.22%
0.20%
96
63
10
124.0
104.9
6.2%
9.1%
94.9
10.0%
0.07%
0.05%
95
61
9
130.0
104.5
5.9%
7.3%
97.7
11.2%
2,114
37
540
65
0
0
44
3

* DATASTREAM
Table of Contents
Hungary
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
752
3,267
3,267
0
0
0
0
0
0
1,571
0
5,590
0
0
0
314
0
3,267
0
0
809
0
0
448
752
0
0
5,590
13.5
58.4
0.0
0.0
0.0
0.0
0.0
28.1
0.0
100.0
1
1
1
0
0
0
0
0
0
3
0
5
0.0
0.0
0.0
5.6
0.0
58.4
0.0
0.0
14.5
0.0
0.0
8.0
13.5
0.0
0.0
100.0
0
0
0
1
0
1
0
0
1
0
0
1
1
0
0
5
20.0
20.0
0.0
0.0
0.0
0.0
0.0
60.0
0.0
100.0
0
0
0
0
1,334
0
115
0
0
6,687
0
8,136
0.0
0.0
0.0
20.0
0.0
20.0
0.0
0.0
20.0
0.0
0.0
20.0
20.0
0.0
0.0
100.0
0
203
0
0
1,352
1,563
110
36
0
0
4,554
0
0
317
0
8,136
0.0
0.0
16.4
0.0
1.4
0.0
0.0
82.2
0.0
100.0
0
0
0
0
1
0
2
0
0
8
0
9
0.0
0.0
9.1
0.0
18.2
0.0
0.0
72.7
0.0
100.0
0.0
2.5
0.0
0.0
16.6
19.2
1.4
0.4
0.0
0.0
56.0
0.0
0.0
3.9
0.0
100.0
0
2
0
0
2
1
1
1
0
0
1
0
0
1
0
9
0.0
22.2
0.0
0.0
22.2
11.1
11.1
11.1
0.0
0.0
11.1
0.0
0.0
11.1
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Hungary
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
752
0
0
0
0
0
0
0
0
1,257
0
2,009
0
0
0
0
0
0
0
0
809
0
0
448
752
0
0
2,009
37.4
0.0
0.0
0.0
0.0
0.0
0.0
62.6
0.0
100.0
1
0
0
0
0
0
0
0
0
2
0
3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
40.3
0.0
0.0
22.3
37.4
0.0
0.0
100.0
0
0
0
0
0
0
0
0
1
0
0
1
1
0
0
3
33.3
0.0
0.0
0.0
0.0
0.0
0.0
66.7
0.0
100.0
0
0
0
0
1,334
0
42
0
0
4,889
0
6,265
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
33.3
0.0
0.0
33.3
33.3
0.0
0.0
100.0
0
42
0
0
1,352
0
0
0
0
0
4,554
0
0
317
0
6,265
0.0
0.0
21.3
0.0
0.7
0.0
0.0
78.0
0.0
100.0
0
0
0
0
1
0
1
0
0
3
0
5
0.0
0.0
20.0
0.0
20.0
0.0
0.0
60.0
0.0
100.0
0.0
0.7
0.0
0.0
21.6
0.0
0.0
0.0
0.0
0.0
72.7
0.0
0.0
5.1
0.0
100.0
0
1
0
0
2
0
0
0
0
0
1
0
0
1
0
5
0.0
20.0
0.0
0.0
40.0
0.0
0.0
0.0
0.0
0.0
20.0
0.0
0.0
20.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Hungary
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
3,267
3,267
0
0
0
0
0
0
314
0
3,581
0
0
0
314
0
3,267
0
0
0
0
0
0
0
0
0
3,581
0.0
91.2
0.0
0.0
0.0
0.0
0.0
8.8
0.0
100.0
0
1
1
0
0
0
0
0
0
1
0
2
0.0
0.0
0.0
8.8
0.0
91.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
1
0
1
0
0
0
0
0
0
0
0
0
2
0.0
50.0
0.0
0.0
0.0
0.0
0.0
50.0
0.0
100.0
0
0
0
0
0
0
73
0
0
1,798
0
1,871
0.0
0.0
0.0
50.0
0.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
162
0
0
0
1,563
110
36
0
0
0
0
0
0
0
1,871
0.0
0.0
0.0
0.0
3.9
0.0
0.0
96.1
0.0
100.0
0
0
0
0
0
0
1
0
0
5
0
5
0.0
0.0
0.0
0.0
16.7
0.0
0.0
83.3
0.0
100.0
0.0
8.6
0.0
0.0
0.0
83.6
5.9
1.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
2
0
0
0
1
1
1
0
0
0
0
0
0
0
5
0.0
40.0
0.0
0.0
0.0
20.0
20.0
20.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
191,271
(2,000)
24,366
213,637
45,204
(3,208)
23,050
65,046
Amount
Amount
3,579
(500)
2,511
5,590
12,135
(9,887)
5,888
8,136
Table of Contents
Ireland
Print

2009
2010
Amount
Amount
124,070
0
124,070
0
124,070
100.0
0.0
100.0
0.0
100.0
92,000
0
92,000
0
92,000
100.0
0.0
100.0
0.0
100.0
124,070
0
0
124,070
0
0
0
0
124,070
100.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
100.0
17,000
0
75,000
92,000
0
0
0
0
92,000
18.5
0.0
81.5
100.0
0.0
0.0
0.0
0.0
100.0
1,000
32,000
0
0
0
0
0
36,000
0
0
0.8
25.8
0.0
0.0
0.0
0.0
0.0
29.0
0.0
0.0
0
15,000
0
0
0
0
0
46,750
0
0
0.0
16.3
0.0
0.0
0.0
0.0
0.0
50.8
0.0
0.0
15,000
0
0
40,070
124,070
12.1
0.0
0.0
32.3
100.0
14,000
16,250
0
0
92,000
15.2
17.7
0.0
0.0
100.0
84,000
84,000
0
0
40,070
124,070
67.7
67.7
0.0
0.0
32.3
100.0
92,000
56,410
35,590
0
0
92,000
100.0
61.3
38.7
0.0
0.0
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Ireland
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
79,000
0
0
79,000
0
0
0
0
79,000
2
0
0
2
0
0
0
0
2
39,500
0
0
39,500
0
0
0
0
39,500
17,000
0
0
17,000
0
0
0
0
17,000
1
0
0
1
0
0
0
0
1
17,000
0
0
17,000
0
0
0
0
17,000
0
0
0
0
0
0
0
79,000
79,000
0
0
0
0
0
0
0
2
2
0
0
0
0
0
0
0
39,500
39,500
0
0
0
0
0
0
0
17,000
17,000
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
17,000
17,000
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
79,000
79,000
0
0
0
0
0
0
0
2
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
17,000
17,000
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Ireland
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
2,325
27,610
15,295
45,229
5,300
0
0
8,496
59,024
3.9
46.8
25.9
76.6
9.0
0.0
0.0
14.4
100.0
2
49
13
63
6
0
0
3
71
2.7
67.1
17.8
87.7
8.2
0.0
0.0
4.1
100.0
1,250
20,912
5,090
27,252
1,854
3,925
0
15,024
48,055
2.6
43.5
10.6
56.7
3.9
8.2
0.0
31.3
100.0
4
40
9
53
2
3
0
1
58
6.8
67.8
15.3
89.8
3.4
5.1
0.0
1.7
100.0
0
625
550
400
13,792
10,201
0
5,000
5,250
0
0
23,207
0
0
0
59,024
39,441
0.0
1.1
0.9
0.7
23.4
17.3
0.0
8.5
8.9
0.0
0.0
39.3
0.0
0.0
0.0
100.0
66.8
0
2
1
1
15
23
0
1
3
0
0
25
0
0
0
71
52
0.0
2.8
1.4
1.4
21.1
32.4
0.0
1.4
4.2
0.0
0.0
35.2
0.0
0.0
0.0
100.0
73.2
0
150
120
175
10,052
8,596
0
0
544
770
0
12,625
0
15,024
0
48,055
29,915
0.0
0.3
0.2
0.4
20.9
17.9
0.0
0.0
1.1
1.6
0.0
26.3
0.0
31.3
0.0
100.0
62.3
0
1
1
1
9
23
0
0
2
3
0
17
0
1
0
58
47
0.0
1.7
1.7
1.7
15.5
39.7
0.0
0.0
3.4
5.2
0.0
29.3
0.0
1.7
0.0
100.0
81.0
13,490
45,534
59,024
22.9
77.1
100.0
14
59
71
19.2
80.8
100.0
4,241
43,814
48,055
8.8
91.2
100.0
9
52
58
14.8
85.2
100.0
27,908
31,116
47.3
52.7
32
42
43.2
56.8
27,345
20,711
56.9
43.1
22
39
36.1
63.9
0
59,024
37,308
0.0
100.0
63.2
0
71
38
0.0
100.0
53.5
0
48,055
30,865
0.0
100.0
64.2
0
58
25
0.0
100.0
43.1
48,828
5,811
4,385
59,024
82.7
9.8
7.4
100.0
62
6
3
71
87.3
8.5
4.2
100.0
19,341
26,832
1,882
48,055
40.2
55.8
3.9
100.0
45
11
2
58
77.6
19.0
3.4
100.0
4,385
2,861
2,200
7.4
4.8
3.7
3
4
1
4.2
5.6
1.4
23,834
1,882
1,449
49.6
3.9
3.0
8
2
1
13.8
3.4
1.7
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
US
United Kingdom
United Kingdom
US
France
Switzerland
Table of Contents
Ireland
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
8,496
0
0
0
8,496
100.0
0.0
0.0
0.0
100.0
3
0
0
0
3
100.0
0.0
0.0
0.0
100.0
0
15,024
0
0
15,024
0.0
100.0
0.0
0.0
100.0
0
1
0
0
1
0.0
100.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
55,231
59
3,734
59,024
93.6
0.1
6.3
100.0
60
1
14
71
80.0
1.3
18.7
100.0
47,210
80
766
48,055
98.2
0.2
1.6
100.0
55
1
5
58
90.2
1.6
8.2
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Ireland
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
125
39,258
40,626
80,009
292,641
0
0
141,695
514,344
0.0
7.6
7.9
15.6
56.9
0.0
0.0
27.5
100.0
1
48
15
63
8
0
0
4
73
1.3
63.2
19.7
84.2
10.5
0.0
0.0
5.3
100.0
1,250
25,134
17,206
43,590
507,349
625
17,371
200,662
769,596
0.2
3.3
2.2
5.7
65.9
0.1
2.3
26.1
100.0
4
38
11
52
1
2
2
3
60
6.6
62.3
18.0
86.9
1.6
3.3
3.3
4.9
100.0
0
625
14,555
400
30,103
23,623
0
5,000
114,586
0
74,164
51,289
0
200,000
0
514,344
85,121
0.0
0.1
2.8
0.1
5.9
4.6
0.0
1.0
22.3
0.0
14.4
10.0
0.0
38.9
0.0
100.0
16.5
0
2
2
1
15
24
0
1
5
0
1
21
0
1
0
73
47
0.0
2.7
2.7
1.4
20.5
32.9
0.0
1.4
6.8
0.0
1.4
28.8
0.0
1.4
0.0
100.0
64.4
0
150
120
175
29,446
80,864
0
3,871
544
770
507,349
146,309
0
0
0
769,596
35,773
0.0
0.0
0.0
0.0
3.8
10.5
0.0
0.5
0.1
0.1
65.9
19.0
0.0
0.0
0.0
100.0
4.6
0
1
1
1
12
26
0
1
2
3
1
12
0
0
0
60
40
0.0
1.7
1.7
1.7
20.0
43.3
0.0
1.7
3.3
5.0
1.7
20.0
0.0
0.0
0.0
100.0
66.7
414,282
100,062
514,344
80.5
19.5
100.0
22
54
73
28.9
71.1
100.0
232,654
536,942
769,596
30.2
69.8
100.0
21
44
60
32.3
67.7
100.0
22,944
491,400
4.5
95.5
30
46
39.5
60.5
560,341
209,255
72.8
27.2
19
42
31.1
68.9
0
514,344
160,478
0.0
100.0
31.2
0
73
40
0.0
100.0
54.8
0
769,596
726,418
0.0
100.0
94.4
0
60
27
0.0
100.0
45.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Ireland
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
32,475
109,220
0
0
141,695
22.9
77.1
0.0
0.0
100.0
3
1
0
0
4
75.0
25.0
0.0
0.0
100.0
0
200,662
0
0
200,662
0.0
100.0
0.0
0.0
100.0
0
3
0
0
3
0.0
100.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
625
550
400
26,353
23,068
0
0
5,366
0
0
23,647
0
0
0
80,009
66,939
0.0
0.8
0.7
0.5
32.9
28.8
0.0
0.0
6.7
0.0
0.0
29.6
0.0
0.0
0.0
100.0
83.7
0
2
1
1
13
24
0
0
4
0
0
18
0
0
0
63
44
0.0
3.2
1.6
1.6
20.6
38.1
0.0
0.0
6.3
0.0
0.0
28.6
0.0
0.0
0.0
100.0
69.8
0
150
120
175
15,946
15,093
0
0
544
770
0
10,793
0
0
0
43,590
35,148
0.0
0.3
0.3
0.4
36.6
34.6
0.0
0.0
1.2
1.8
0.0
24.8
0.0
0.0
0.0
100.0
80.6
0
1
1
1
11
23
0
0
2
3
0
10
0
0
0
52
38
0.0
1.9
1.9
1.9
21.2
44.2
0.0
0.0
3.8
5.8
0.0
19.2
0.0
0.0
0.0
100.0
73.1
0
0
14,005
0
3,750
555
0
5,000
109,220
0
74,164
27,641
0
200,000
0
434,335
18,182
0.0
0.0
3.2
0.0
0.9
0.1
0.0
1.2
25.1
0.0
17.1
6.4
0.0
46.0
0.0
100.0
4.2
0
0
1
0
2
1
0
1
1
0
1
3
0
1
0
11
4
0.0
0.0
9.1
0.0
18.2
9.1
0.0
9.1
9.1
0.0
9.1
27.3
0.0
9.1
0.0
100.0
36.4
0
0
0
0
13,500
65,771
0
3,871
0
0
507,349
135,516
0
0
0
726,006
625
0.0
0.0
0.0
0.0
1.9
9.1
0.0
0.5
0.0
0.0
69.9
18.7
0.0
0.0
0.0
100.0
0.1
0
0
0
0
1
3
0
1
0
0
1
2
0
0
0
8
2
0.0
0.0
0.0
0.0
12.5
37.5
0.0
12.5
0.0
0.0
12.5
25.0
0.0
0.0
0.0
100.0
25.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Ireland
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
8,038
0
0
0
17,290
0
225
450
0
3,633
955
30,591
26.3
0.0
56.5
0.0
0.7
1.5
0.0
11.9
3.1
100.0
4
0
0
0
3
0
2
1
0
1
1
12
33.3
0.0
25.0
0.0
16.7
8.3
0.0
8.3
8.3
100.0
22,669
3,788
0
3,788
6,800
0
0
0
0
1,125
0
34,382
65.9
11.0
19.8
0.0
0.0
0.0
0.0
3.3
0.0
100.0
7
1
0
1
2
0
0
0
0
2
0
12
58.3
8.3
16.7
0.0
0.0
0.0
0.0
16.7
0.0
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Consumer prices (Dec. 2006=100)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
25
13
5
7
2,292
950
833
509
0.32%
0.04%
160
84
28
102.2
97.5
0.7%
5.2%
90.7
11.8%
0.50%
0.03%
154
81
26
101.2
97.6
1.0%
5.7%
88.9
13.6%
4,198
132
4,630
94
0
0
0
0

* DATASTREAM
Table of Contents
Ireland
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
15,809
147
0
147
17,354
0
25,912
25,001
0
3,633
955
88,811
0
0
0
0
3,423
28,824
0
3,980
24,551
234
25,687
2,112
0
0
0
88,811
17.8
0.2
19.5
0.0
29.2
28.2
0.0
4.1
1.1
100.0
4
1
0
1
4
0
3
2
0
1
1
16
0.0
0.0
0.0
0.0
3.9
32.5
0.0
4.5
27.6
0.3
28.9
2.4
0.0
0.0
0.0
100.0
0
0
0
0
1
9
0
1
1
1
1
2
0
0
0
16
25.0
6.3
25.0
0.0
18.8
12.5
0.0
6.3
6.3
100.0
30,079
4,053
0
4,053
247,904
0
0
32,236
0
4,387
0
318,658
0.0
0.0
0.0
0.0
6.3
56.3
0.0
6.3
6.3
6.3
6.3
12.5
0.0
0.0
0.0
100.0
0
0
0
0
239,133
53,182
0
0
100
0
0
26,243
0
0
0
318,658
9.4
1.3
77.8
0.0
0.0
10.1
0.0
1.4
0.0
100.0
5
2
0
2
6
0
0
2
0
3
0
18
27.8
11.1
33.3
0.0
0.0
11.1
0.0
16.7
0.0
100.0
0.0
0.0
0.0
0.0
75.0
16.7
0.0
0.0
0.0
0.0
0.0
8.2
0.0
0.0
0.0
100.0
0
0
0
0
3
10
0
0
1
0
0
4
0
0
0
18
0.0
0.0
0.0
0.0
16.7
55.6
0.0
0.0
5.6
0.0
0.0
22.2
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Ireland
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
12,152
147
0
147
17,290
0
225
450
0
3,633
955
34,852
0
0
0
0
0
28,760
0
3,980
0
0
0
2,112
0
0
0
34,852
34.9
0.4
49.6
0.0
0.6
1.3
0.0
10.4
2.7
100.0
2
1
0
1
3
0
2
1
0
1
1
11
0.0
0.0
0.0
0.0
0.0
82.5
0.0
11.4
0.0
0.0
0.0
6.1
0.0
0.0
0.0
100.0
0
0
0
0
0
8
0
1
0
0
0
2
0
0
0
11
18.2
9.1
27.3
0.0
18.2
9.1
0.0
9.1
9.1
100.0
20,350
4,053
0
4,053
2,217
0
0
21,410
0
4,387
0
52,416
0.0
0.0
0.0
0.0
0.0
72.7
0.0
9.1
0.0
0.0
0.0
18.2
0.0
0.0
0.0
100.0
0
0
0
0
635
46,093
0
0
0
0
0
5,688
0
0
0
52,416
38.8
7.7
4.2
0.0
0.0
40.8
0.0
8.4
0.0
100.0
4
2
0
2
1
0
0
1
0
3
0
11
36.4
18.2
9.1
0.0
0.0
9.1
0.0
27.3
0.0
100.0
0.0
0.0
0.0
0.0
1.2
87.9
0.0
0.0
0.0
0.0
0.0
10.9
0.0
0.0
0.0
100.0
0
0
0
0
1
8
0
0
0
0
0
2
0
0
0
11
0.0
0.0
0.0
0.0
9.1
72.7
0.0
0.0
0.0
0.0
0.0
18.2
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Ireland
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
3,657
0
0
0
64
0
25,687
24,551
0
0
0
53,959
0
0
0
0
3,423
64
0
0
24,551
234
25,687
0
0
0
0
53,959
6.8
0.0
0.1
0.0
47.6
45.5
0.0
0.0
0.0
100.0
2
0
0
0
1
0
1
1
0
0
0
5
0.0
0.0
0.0
0.0
6.3
0.1
0.0
0.0
45.5
0.4
47.6
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
1
0
0
1
1
1
0
0
0
0
5
40.0
0.0
20.0
0.0
20.0
20.0
0.0
0.0
0.0
100.0
9,729
0
0
0
245,687
0
0
10,826
0
0
0
266,242
0.0
0.0
0.0
0.0
20.0
20.0
0.0
0.0
20.0
20.0
20.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
238,498
7,089
0
0
100
0
0
20,555
0
0
0
266,242
3.7
0.0
92.3
0.0
0.0
4.1
0.0
0.0
0.0
100.0
1
0
0
0
5
0
0
1
0
0
0
7
14.3
0.0
71.4
0.0
0.0
14.3
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
89.6
2.7
0.0
0.0
0.0
0.0
0.0
7.7
0.0
0.0
0.0
100.0
0
0
0
0
2
2
0
0
1
0
0
2
0
0
0
7
0.0
0.0
0.0
0.0
28.6
28.6
0.0
0.0
14.3
0.0
0.0
28.6
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
59,024
(10,196)
465,516
514,344
48,055
(28,714)
750,255
769,596
Amount
Amount
30,591
(1,875)
60,094
88,811
34,382
(2,485)
286,761
318,658
Table of Contents
Italy
Print

2009
2010
Amount
Amount
2,311,170
0
2,311,170
0
2,311,170
100.0
0.0
100.0
0.0
100.0
547,000
0
547,000
0
547,000
100.0
0.0
100.0
0.0
100.0
64,120
0
25,000
89,120
0
2,129,550
0
92,500
2,311,170
2.8
0.0
1.1
3.9
0.0
92.1
0.0
4.0
100.0
0
0
0
0
0
340,000
0
207,000
547,000
0.0
0.0
0.0
0.0
0.0
62.2
0.0
37.8
100.0
0
404,000
0
72,250
156,910
121,950
466,150
50,450
288,870
98,550
0.0
17.5
0.0
3.1
6.8
5.3
20.2
2.2
12.5
4.3
0
62,500
0
0
27,000
0
55,000
0
0
125,000
0.0
11.4
0.0
0.0
4.9
0.0
10.1
0.0
0.0
22.9
446,460
42,750
0
162,830
2,311,170
19.3
1.8
0.0
7.0
100.0
65,700
1,500
0
210,300
547,000
12.0
0.3
0.0
38.4
100.0
1,570,080
821,900
748,180
552,060
189,030
2,311,170
67.9
35.6
32.4
23.9
8.2
100.0
347,000
347,000
0
0
200,000
547,000
63.4
63.4
0.0
0.0
36.6
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Italy
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
89,540
0
25,000
114,540
0
2,120,000
0
242,500
2,477,040
2
0
1
3
0
4
0
2
9
44,770
0
25,000
38,180
0
530,000
0
121,250
275,227
0
0
0
0
0
500,000
0
0
500,000
0
0
0
0
0
1
0
0
1
0
0
0
0
0
500,000
0
0
500,000
0
0
0
242,500
0
25,000
0
2,209,540
2,477,040
0
0
0
2
0
1
0
6
9
0
0
0
121,250
0
25,000
0
368,257
275,227
0
0
0
0
500,000
0
0
0
500,000
0
0
0
0
1
0
0
0
1
0
0
0
0
500,000
0
0
0
500,000
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
25,000
0
89,540
114,540
0
0
0
0
0
1
0
2
3
0
0
0
0
0
0
0
2,120,000
2,120,000
0
0
0
0
0
0
0
4
4
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
500,000
0
0
0
500,000
0
0
0
0
1
0
0
0
1

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Italy
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
1,334
45,134
17,924
64,392
235,463
9,046
378,513
727,133
1,414,546
0.1
3.2
1.3
4.6
16.6
0.6
26.8
51.4
100.0
4
17
11
32
48
2
11
26
119
3.4
14.3
9.2
26.9
40.3
1.7
9.2
21.8
100.0
700
39,375
9,029
49,104
267,888
35,486
52,441
628,854
1,033,772
0.1
3.8
0.9
4.7
25.9
3.4
5.1
60.8
100.0
1
36
8
45
42
12
6
26
129
0.8
27.5
6.1
34.4
32.1
9.2
4.6
19.8
100.0
0
86,980
83,242
7,620
89,417
16,101
61,812
242,303
63,259
26,105
487,730
91,366
0
112,341
46,271
1,414,546
80,520
0.0
6.1
5.9
0.5
6.3
1.1
4.4
17.1
4.5
1.8
34.5
6.5
0.0
7.9
3.3
100.0
5.7
0
14
7
4
13
5
3
10
3
7
10
12
0
6
25
119
21
0.0
11.8
5.9
3.4
10.9
4.2
2.5
8.4
2.5
5.9
8.4
10.1
0.0
5.0
21.0
100.0
17.6
1,200
66,813
36,198
68,860
35,602
66,917
84,876
400,976
77,044
14,789
15,385
95,044
0
57,693
12,375
1,033,772
80,482
0.1
6.5
3.5
6.7
3.4
6.5
8.2
38.8
7.5
1.4
1.5
9.2
0.0
5.6
1.2
100.0
7.8
1
8
11
6
11
5
8
27
14
7
1
15
0
7
8
129
28
0.8
6.2
8.5
4.7
8.5
3.9
6.2
20.9
10.9
5.4
0.8
11.6
0.0
5.4
6.2
100.0
21.7
721,171
693,375
1,414,546
51.0
49.0
100.0
78
44
119
63.9
36.1
100.0
634,764
399,008
1,033,772
61.4
38.6
100.0
88
43
129
67.2
32.8
100.0
739,793
672,353
52.3
47.5
61
57
51.3
47.9
437,671
596,101
42.3
57.7
54
76
41.5
58.5
2,400
1,414,546
744,033
0.2
100.0
52.6
1
119
64
0.8
100.0
53.8
0
1,033,772
775,243
0.0
100.0
75.0
0
129
71
0.0
100.0
55.0
1,397,459
15,485
1,603
1,414,546
98.8
1.1
0.1
100.0
110
7
2
119
92.4
5.9
1.7
100.0
1,020,738
11,434
1,600
1,033,772
98.7
1.1
0.2
100.0
123
5
1
129
95.3
3.9
0.8
100.0
6,250
3,125
2,800
0.4
0.2
0.2
2
2
1
1.7
1.7
0.8
8,874
1,600
1,490
0.9
0.2
0.1
1
1
2
0.8
0.8
1.6
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
France
Switzerland
Germany
Israel
Austria
Germany
Table of Contents
Italy
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
99,075
240,042
388,016
0
727,133
13.6
33.0
53.4
0.0
100.0
19
5
2
0
26
73.1
19.2
7.7
0.0
100.0
111,679
353,798
163,377
0
628,854
17.8
56.3
26.0
0.0
100.0
15
11
1
0
26
55.6
40.7
3.7
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
1,405,277
9,269
0
1,414,546
99.3
0.7
0.0
100.0
118
4
0
119
96.7
3.3
0.0
100.0
1,033,397
375
0
1,033,772
100.0
0.0
0.0
100.0
129
1
0
129
99.2
0.8
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Italy
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
1,284
43,292
18,313
62,889
329,328
52,046
378,513
1,109,571
1,932,346
0.1
2.2
0.9
3.3
17.0
2.7
19.6
57.4
100.0
3
14
13
30
51
3
11
30
125
2.4
11.2
10.4
24.0
40.8
2.4
8.8
24.0
100.0
700
47,828
17,389
65,917
300,556
35,486
52,441
1,121,235
1,575,634
0.0
3.0
1.1
4.2
19.1
2.3
3.3
71.2
100.0
1
34
12
47
43
12
6
31
137
0.7
24.5
8.6
33.8
30.9
8.6
4.3
22.3
100.0
17,800
102,510
95,982
7,620
106,045
16,651
61,812
322,983
160,755
22,520
612,998
202,864
0
155,536
46,271
1,932,346
75,903
0.9
5.3
5.0
0.4
5.5
0.9
3.2
16.7
8.3
1.2
31.7
10.5
0.0
8.0
2.4
100.0
3.9
1
15
8
4
13
5
3
13
4
7
10
9
0
8
25
125
16
0.8
12.0
6.4
3.2
10.4
4.0
2.4
10.4
3.2
5.6
8.0
7.2
0.0
6.4
20.0
100.0
12.8
1,200
109,249
36,198
75,155
64,703
469,588
94,493
430,064
77,044
24,192
15,385
108,295
0
57,693
12,375
1,575,634
117,895
0.1
6.9
2.3
4.8
4.1
29.8
6.0
27.3
4.9
1.5
1.0
6.9
0.0
3.7
0.8
100.0
7.5
1
10
11
7
11
6
8
28
14
8
1
17
0
7
8
137
26
0.7
7.3
8.0
5.1
8.0
4.4
5.8
20.4
10.2
5.8
0.7
12.4
0.0
5.1
5.8
100.0
19.0
887,437
1,044,910
1,932,346
45.9
54.1
100.0
88
40
125
68.8
31.3
100.0
656,501
919,133
1,575,634
41.7
58.3
100.0
96
44
137
68.6
31.4
100.0
988,452
923,695
51.2
47.8
64
59
51.2
47.2
549,930
1,025,704
34.9
65.1
60
78
43.5
56.5
20,200
1,932,346
1,138,583
1.0
100.0
58.9
2
125
70
1.6
100.0
56.0
0
1,575,634
1,287,488
0.0
100.0
81.7
0
137
75
0.0
100.0
54.7
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Italy
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
112,224
609,331
388,016
0
1,109,571
10.1
54.9
35.0
0.0
100.0
21
9
2
0
30
65.6
28.1
6.3
0.0
100.0
129,191
663,447
328,598
0
1,121,235
11.5
59.2
29.3
0.0
100.0
17
14
2
0
31
51.5
42.4
6.1
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
9,241
2,296
2,300
15,352
3,634
0
1,742
940
4,420
0
15,264
0
7,700
0
62,889
17,604
0.0
14.7
3.7
3.7
24.4
5.8
0.0
2.8
1.5
7.0
0.0
24.3
0.0
12.2
0.0
100.0
28.0
0
3
2
2
7
3
0
1
1
4
0
6
0
1
0
30
12
0.0
10.0
6.7
6.7
23.3
10.0
0.0
3.3
3.3
13.3
0.0
20.0
0.0
3.3
0.0
100.0
40.0
1,200
4,200
5,600
500
3,735
1,691
1,760
6,000
2,799
10,492
0
24,580
0
3,360
0
65,917
33,340
1.8
6.4
8.5
0.8
5.7
2.6
2.7
9.1
4.2
15.9
0.0
37.3
0.0
5.1
0.0
100.0
50.6
1
3
4
1
6
1
2
3
3
6
0
15
0
2
0
47
22
2.1
6.4
8.5
2.1
12.8
2.1
4.3
6.4
6.4
12.8
0.0
31.9
0.0
4.3
0.0
100.0
46.8
17,800
93,269
93,686
5,320
90,693
13,017
61,812
321,241
159,815
18,100
612,998
187,600
0
147,836
46,271
1,869,457
58,299
1.0
5.0
5.0
0.3
4.9
0.7
3.3
17.2
8.5
1.0
32.8
10.0
0.0
7.9
2.5
100.0
3.1
1
12
6
2
6
2
3
12
3
3
10
3
0
7
25
95
4
1.1
12.6
6.3
2.1
6.3
2.1
3.2
12.6
3.2
3.2
10.5
3.2
0.0
7.4
26.3
100.0
4.2
0
105,049
30,598
74,655
60,968
467,897
92,733
424,064
74,245
13,700
15,385
83,715
0
54,333
12,375
1,509,718
84,555
0.0
7.0
2.0
4.9
4.0
31.0
6.1
28.1
4.9
0.9
1.0
5.5
0.0
3.6
0.8
100.0
5.6
0
7
7
6
5
5
6
25
11
2
1
2
0
5
8
90
4
0.0
7.8
7.8
6.7
5.6
5.6
6.7
27.8
12.2
2.2
1.1
2.2
0.0
5.6
8.9
100.0
4.4

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Italy
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
315,469
368,016
0
368,016
460,871
0
0
58,510
16,065
6,977
7,860
1,233,766
25.6
29.8
37.4
0.0
0.0
4.7
1.3
0.6
0.6
100.0
14
3
0
3
6
0
0
2
1
2
2
30
46.7
10.0
20.0
0.0
0.0
6.7
3.3
6.7
6.7
100.0
105,699
11,929
4,100
7,829
259,469
0
19,000
86,050
3,077
44,270
31,766
561,259
18.8
2.1
46.2
0.0
3.4
15.3
0.5
7.9
5.7
100.0
10
2
1
1
2
0
1
10
1
3
2
31
32.3
6.5
6.5
0.0
3.2
32.3
3.2
9.7
6.5
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
88
13
53
22
18,255
640
11,848
5,768
0.13%
0.09%
1,520
912
328
98.5
107.8
0.7%
4.3%
100.8
7.8%
0.10%
0.07%
1,547
930
334
100.0
111.0
1.0%
4.0%
101.0
8.4%
14,693
587
18,540
568
129
3
2,514
3

* DATASTREAM
Table of Contents
Italy
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
330,846
371,930
3,914
368,016
460,871
0
0
89,988
16,065
6,977
1,167
1,277,843
0
46,391
83,157
0
388,994
2,850
0
274,404
10,000
0
14,000
94,391
0
363,656
0
1,277,843
25.9
29.1
36.1
0.0
0.0
7.0
1.3
0.5
0.1
100.0
14
4
1
3
6
0
0
5
1
2
1
33
0.0
3.6
6.5
0.0
30.4
0.2
0.0
21.5
0.8
0.0
1.1
7.4
0.0
28.5
0.0
100.0
0
8
2
0
2
2
0
9
2
0
1
5
0
2
0
33
42.4
12.1
18.2
0.0
0.0
15.2
3.0
6.1
3.0
100.0
109,494
18,705
4,100
14,605
300,185
0
19,000
196,489
3,077
44,270
86,318
777,537
0.0
24.2
6.1
0.0
6.1
6.1
0.0
27.3
6.1
0.0
3.0
15.2
0.0
6.1
0.0
100.0
0
261,713
15,883
22,237
109,734
139,006
19,570
39,644
10,521
0
78,552
29,514
0
51,163
0
777,537
14.1
2.4
38.6
0.0
2.4
25.3
0.4
5.7
11.1
100.0
11
4
1
3
3
0
1
11
1
3
3
36
29.7
10.8
8.1
0.0
2.7
29.7
2.7
8.1
8.1
100.0
0.0
33.7
2.0
2.9
14.1
17.9
2.5
5.1
1.4
0.0
10.1
3.8
0.0
6.6
0.0
100.0
0
7
1
2
3
3
2
6
1
0
2
4
0
5
0
36
0.0
19.4
2.8
5.6
8.3
8.3
5.6
16.7
2.8
0.0
5.6
11.1
0.0
13.9
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Italy
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
4,233
3,914
319
150
0
0
5,000
0
0
0
9,383
0
0
0
0
0
150
0
3,914
5,000
0
0
319
0
0
0
9,383
0.0
45.1
1.6
0.0
0.0
53.3
0.0
0.0
0.0
100.0
0
2
1
1
1
0
0
1
0
0
0
4
0.0
0.0
0.0
0.0
0.0
1.6
0.0
41.7
53.3
0.0
0.0
3.4
0.0
0.0
0.0
100.0
0
0
0
0
0
1
0
1
1
0
0
1
0
0
0
4
0.0
50.0
0.0
100.0
25.0
0.0
0.0
25.0
0.0
0.0
0.0
100.0
0
18,705
4,100
14,605
0
0
0
0
0
0
0
18,705
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
4
1
3
0
0
0
0
0
0
0
4
0.0
0.0
0.0
0.0
0.0
25.0
0.0
25.0
25.0
0.0
0.0
25.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
4,100
0
0
0
14,605
0
0
0
18,705
0.0
0.0
0.0
0.0
0.0
0.0
0.0
21.9
0.0
0.0
0.0
78.1
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
1
0
0
0
3
0
0
0
4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
25.0
0.0
0.0
0.0
75.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Italy
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
330,846
367,696
0
367,696
460,721
0
0
84,988
16,065
6,977
1,167
1,268,460
0
46,391
83,157
0
388,994
2,700
0
270,490
5,000
0
14,000
94,072
0
363,656
0
1,268,460
26.1
29.0
36.3
0.0
0.0
6.7
1.3
0.6
0.1
100.0
14
2
0
2
5
0
0
4
1
2
1
29
0.0
3.7
6.6
0.0
30.7
0.2
0.0
21.3
0.4
0.0
1.1
7.4
0.0
28.7
0.0
100.0
0
8
2
0
2
1
0
8
1
0
1
4
0
2
0
29
48.3
6.9
17.2
0.0
0.0
13.8
3.4
6.9
3.4
100.0
109,494
0
0
0
300,185
0
19,000
196,489
3,077
44,270
86,318
758,832
0.0
27.6
6.9
0.0
6.9
3.4
0.0
27.6
3.4
0.0
3.4
13.8
0.0
6.9
0.0
100.0
0
261,713
15,883
22,237
109,734
139,006
19,570
35,544
10,521
0
78,552
14,909
0
51,163
0
758,832
14.4
0.0
39.6
0.0
2.5
25.9
0.4
5.8
11.4
100.0
11
0
0
0
3
0
1
11
1
3
3
32
33.3
0.0
9.1
0.0
3.0
33.3
3.0
9.1
9.1
100.0
0.0
34.5
2.1
2.9
14.5
18.3
2.6
4.7
1.4
0.0
10.4
2.0
0.0
6.7
0.0
100.0
0
7
1
2
3
3
2
5
1
0
2
1
0
5
0
32
0.0
21.9
3.1
6.3
9.4
9.4
6.3
15.6
3.1
0.0
6.3
3.1
0.0
15.6
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
1,414,546
(17,088)
534,888
1,932,346
1,033,772
(13,034)
554,896
1,575,634
Amount
Amount
1,233,766
(10,116)
54,193
1,277,843
561,259
(0)
216,278
777,537
Table of Contents
Luxembourg
Print

2009
2010
Amount
Amount
212,830
0
212,830
0
212,830
100.0
0.0
100.0
0.0
100.0
108,050
0
108,050
0
108,050
100.0
0.0
100.0
0.0
100.0
0
0
0
0
0
0
0
212,830
212,830
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
108,050
0
0
0
108,050
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
59,950
0
0
0
15,000
0.0
0.0
0.0
0.0
0.0
55.5
0.0
0.0
0.0
13.9
0
0
0
212,830
212,830
0.0
0.0
0.0
100.0
100.0
3,160
29,940
0
0
108,050
2.9
27.7
0.0
0.0
100.0
0
0
0
0
212,830
212,830
0.0
0.0
0.0
0.0
100.0
100.0
94,760
0
94,760
13,290
0
108,050
87.7
0.0
87.7
12.3
0.0
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Luxembourg
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Luxembourg
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
335
40,515
3,993
44,843
24,308
0
9,000
0
78,151
0.4
51.8
5.1
57.4
31.1
0.0
11.5
0.0
100.0
1
22
2
25
5
0
2
0
32
3.1
68.8
6.3
78.1
15.6
0.0
6.3
0.0
100.0
0
35,589
1,000
36,589
13,211
0
0
34,345
84,145
0.0
42.3
1.2
43.5
15.7
0.0
0.0
40.8
100.0
0
21
1
22
2
0
0
3
27
0.0
77.8
3.7
81.5
7.4
0.0
0.0
11.1
100.0
0
2,308
0
2,500
23,543
4,057
0
13,574
20,799
0
0
11,370
0
0
0
78,151
41,921
0.0
3.0
0.0
3.2
30.1
5.2
0.0
17.4
26.6
0.0
0.0
14.5
0.0
0.0
0.0
100.0
53.6
0
1
0
1
12
6
0
3
2
0
0
7
0
0
0
32
24
0.0
3.1
0.0
3.1
37.5
18.8
0.0
9.4
6.3
0.0
0.0
21.9
0.0
0.0
0.0
100.0
75.0
0
14,300
0
0
19,126
6,797
0
18,845
1,358
7,500
10,500
5,719
0
0
0
84,145
35,199
0.0
17.0
0.0
0.0
22.7
8.1
0.0
22.4
1.6
8.9
12.5
6.8
0.0
0.0
0.0
100.0
41.8
0
1
0
0
7
6
0
4
1
1
1
6
0
0
0
27
19
0.0
3.7
0.0
0.0
25.9
22.2
0.0
14.8
3.7
3.7
3.7
22.2
0.0
0.0
0.0
100.0
70.4
47,407
30,744
78,151
60.7
39.3
100.0
14
19
32
42.4
57.6
100.0
27,117
57,028
84,145
32.2
67.8
100.0
13
15
27
46.4
53.6
100.0
24,337
53,814
31.1
68.9
10
22
31.3
68.8
37,998
46,147
45.2
54.8
7
21
25.0
75.0
0
78,151
42,909
0.0
100.0
54.9
0
32
16
0.0
100.0
50.0
0
84,145
55,671
0.0
100.0
66.2
0
27
11
0.0
100.0
40.7
15,449
38,446
24,256
78,151
19.8
49.2
31.0
100.0
6
19
7
32
18.8
59.4
21.9
100.0
10,500
60,752
12,893
84,145
12.5
72.2
15.3
100.0
1
19
7
27
3.7
70.4
25.9
100.0
18,534
10,063
10,000
23.7
12.9
12.8
3
4
1
9.4
12.5
3.1
18,300
13,460
10,847
21.7
16.0
12.9
2
5
3
7.4
18.5
11.1
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
US
Switzerland
Germany
Netherlands
Switzerland
Germany
Table of Contents
Luxembourg
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
34,345
0
0
0
34,345
100.0
0.0
0.0
0.0
100.0
3
0
0
0
3
100.0
0.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
75,843
2,308
0
78,151
97.0
3.0
0.0
100.0
31
1
0
32
96.9
3.1
0.0
100.0
84,145
0
0
84,145
100.0
0.0
0.0
100.0
27
0
0
27
100.0
0.0
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Luxembourg
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
1,141
0
1,141
31,032
85,045
0
290,314
407,532
0.0
0.3
0.0
0.3
7.6
20.9
0.0
71.2
100.0
0
2
0
2
5
3
0
6
16
0.0
12.5
0.0
12.5
31.3
18.8
0.0
37.5
100.0
0
2,081
645
2,726
6,606
0
0
83,200
92,532
0.0
2.2
0.7
2.9
7.1
0.0
0.0
89.9
100.0
0
1
1
2
5
0
0
2
9
0.0
11.1
11.1
22.2
55.6
0.0
0.0
22.2
100.0
0
11,733
138,993
0
203,220
7,854
0
1,220
0
0
0
6,774
0
37,738
0
407,532
9,049
0.0
2.9
34.1
0.0
49.9
1.9
0.0
0.3
0.0
0.0
0.0
1.7
0.0
9.3
0.0
100.0
2.2
0
2
3
0
5
2
0
1
0
0
0
1
0
2
0
16
3
0.0
12.5
18.8
0.0
31.3
12.5
0.0
6.3
0.0
0.0
0.0
6.3
0.0
12.5
0.0
100.0
18.8
0
0
23,700
0
6,081
0
645
1,118
0
0
60,250
738
0
0
0
92,532
2,081
0.0
0.0
25.6
0.0
6.6
0.0
0.7
1.2
0.0
0.0
65.1
0.8
0.0
0.0
0.0
100.0
2.2
0
0
1
0
2
0
1
1
0
0
3
1
0
0
0
9
1
0.0
0.0
11.1
0.0
22.2
0.0
11.1
11.1
0.0
0.0
33.3
11.1
0.0
0.0
0.0
100.0
11.1
111,722
295,810
407,532
27.4
72.6
100.0
8
8
16
50.0
50.0
100.0
77,450
15,082
92,532
83.7
16.3
100.0
5
5
9
50.0
50.0
100.0
158,338
245,369
38.9
60.2
7
8
43.8
50.0
61,581
30,951
66.6
33.4
2
7
22.2
77.8
3,825
407,532
351,041
0.9
100.0
86.1
1
16
8
6.3
100.0
50.0
0
92,532
88,281
0.0
100.0
95.4
0
9
4
0.0
100.0
44.4
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Luxembourg
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
41,664
67,738
180,912
0
290,314
14.4
23.3
62.3
0.0
100.0
4
2
1
0
6
57.1
28.6
14.3
0.0
100.0
10,500
72,700
0
0
83,200
12.6
87.4
0.0
0.0
100.0
1
2
0
0
2
33.3
66.7
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
0
0
0
1,137
4
0
0
0
0
0
0
0
0
0
1,141
1,141
0.0
0.0
0.0
0.0
99.6
0.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
2
2
0.0
0.0
0.0
0.0
50.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
2,081
0
645
0
0
0
0
0
0
0
0
2,726
2,081
0.0
0.0
0.0
0.0
76.3
0.0
23.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
76.3
0
0
0
0
1
0
1
0
0
0
0
0
0
0
0
2
1
0.0
0.0
0.0
0.0
50.0
0.0
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
50.0
0
11,733
138,993
0
202,083
7,850
0
1,220
0
0
0
6,774
0
37,738
0
406,391
7,908
0.0
2.9
34.2
0.0
49.7
1.9
0.0
0.3
0.0
0.0
0.0
1.7
0.0
9.3
0.0
100.0
1.9
0
2
3
0
4
1
0
1
0
0
0
1
0
2
0
14
1
0.0
14.3
21.4
0.0
28.6
7.1
0.0
7.1
0.0
0.0
0.0
7.1
0.0
14.3
0.0
100.0
7.1
0
0
23,700
0
4,000
0
0
1,118
0
0
60,250
738
0
0
0
89,806
0
0.0
0.0
26.4
0.0
4.5
0.0
0.0
1.2
0.0
0.0
67.1
0.8
0.0
0.0
0.0
100.0
0.0
0
0
1
0
1
0
0
1
0
0
3
1
0
0
0
7
0
0.0
0.0
14.3
0.0
14.3
0.0
0.0
14.3
0.0
0.0
42.9
14.3
0.0
0.0
0.0
100.0
0.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Luxembourg
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
12,231
0
0
0
3,666
0
0
2,621
0
0
759
19,277
63.4
0.0
19.0
0.0
0.0
13.6
0.0
0.0
3.9
100.0
4
0
0
0
2
0
0
1
0
0
1
8
50.0
0.0
25.0
0.0
0.0
12.5
0.0
0.0
12.5
100.0
47,192
0
0
0
1,763
0
500
13,800
0
0
1,000
64,255
73.4
0.0
2.7
0.0
0.8
21.5
0.0
0.0
1.6
100.0
3
0
0
0
1
0
1
2
0
0
1
8
37.5
0.0
12.5
0.0
12.5
25.0
0.0
0.0
12.5
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
14
5
4
5
1,767
673
839
254
1.07%
0.21%
38
12
6
109.0
112.2
0.7%
4.2%
121.1
5.7%
0.22%
0.20%
42
13
7
111.5
116.3
1.0%
3.2%
135.1
6.0%
3,458
36
1,982
34
0
0
521
1

* DATASTREAM
Table of Contents
Luxembourg
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
72,300
4,223
0
4,223
0
0
0
0
0
2,965
0
79,488
0
4,223
65,000
0
7,300
0
0
2,965
0
0
0
0
0
0
0
79,488
91.0
5.3
0.0
0.0
0.0
0.0
0.0
3.7
0.0
100.0
2
1
0
1
0
0
0
0
0
1
0
4
0.0
5.3
81.8
0.0
9.2
0.0
0.0
3.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
1
1
0
1
0
0
1
0
0
0
0
0
0
0
4
50.0
25.0
0.0
0.0
0.0
0.0
0.0
25.0
0.0
100.0
4,153
24,670
24,670
0
29,875
0
0
10,672
157
38,686
1,000
109,213
0.0
25.0
25.0
0.0
25.0
0.0
0.0
25.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
157
0
0
4,153
63,356
0
29,875
1,000
0
10,672
0
0
0
0
109,213
3.8
22.6
27.4
0.0
0.0
9.8
0.1
35.4
0.9
100.0
1
1
1
0
1
0
0
2
1
1
1
8
12.5
12.5
12.5
0.0
0.0
25.0
12.5
12.5
12.5
100.0
0.0
0.1
0.0
0.0
3.8
58.0
0.0
27.4
0.9
0.0
9.8
0.0
0.0
0.0
0.0
100.0
0
1
0
0
1
2
0
1
1
0
2
0
0
0
0
8
0.0
12.5
0.0
0.0
12.5
25.0
0.0
12.5
12.5
0.0
25.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Luxembourg
Print

Venture Deals
2009
2010
Amount
at cost
Number of
companies
Amount
at cost
Number of
companies
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
4,153
0
0
0
0
0
0
0
0
0
0
4,153
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
1
0
0
0
0
0
0
0
0
0
0
1
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
4,153
0
0
0
0
0
0
0
0
0
0
4,153
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
Exit route
Sale to management
Total divestment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Luxembourg
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
72,300
4,223
0
4,223
0
0
0
0
0
2,965
0
79,488
0
4,223
65,000
0
7,300
0
0
2,965
0
0
0
0
0
0
0
79,488
91.0
5.3
0.0
0.0
0.0
0.0
0.0
3.7
0.0
100.0
2
1
0
1
0
0
0
0
0
1
0
4
0.0
5.3
81.8
0.0
9.2
0.0
0.0
3.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
1
1
0
1
0
0
1
0
0
0
0
0
0
0
4
50.0
25.0
0.0
0.0
0.0
0.0
0.0
25.0
0.0
100.0
0
24,670
24,670
0
29,875
0
0
10,672
157
38,686
1,000
105,060
0.0
25.0
25.0
0.0
25.0
0.0
0.0
25.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
157
0
0
0
63,356
0
29,875
1,000
0
10,672
0
0
0
0
105,060
0.0
23.5
28.4
0.0
0.0
10.2
0.1
36.8
1.0
100.0
0
1
1
0
1
0
0
2
1
1
1
7
0.0
14.3
14.3
0.0
0.0
28.6
14.3
14.3
14.3
100.0
0.0
0.1
0.0
0.0
0.0
60.3
0.0
28.4
1.0
0.0
10.2
0.0
0.0
0.0
0.0
100.0
0
1
0
0
0
2
0
1
1
0
2
0
0
0
0
7
0.0
14.3
0.0
0.0
0.0
28.6
0.0
14.3
14.3
0.0
28.6
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
78,151
(62,702)
392,083
407,532
84,145
(73,645)
82,032
92,532
Amount
Amount
19,277
(11,977)
72,188
79,488
64,255
(48,602)
93,560
109,213
Table of Contents
The Netherlands
Print

2009
2010
Amount
Amount
744,300
300,000
1,044,300
2,000
1,046,300
71.1
28.7
99.8
0.2
100.0
1,075,120
167,070
1,242,190
1,000
1,243,190
86.5
13.4
99.9
0.1
100.0
36,500
53,500
101,200
191,200
2,150
599,000
0
253,950
1,046,300
3.5
5.1
9.7
18.3
0.2
57.2
0.0
24.3
100.0
25,220
0
80,000
105,220
59,450
911,500
0
167,020
1,243,190
2.0
0.0
6.4
8.5
4.8
73.3
0.0
13.4
100.0
0
144,200
0
40,000
0
256,050
97,600
9,600
307,000
70,000
0.0
13.8
0.0
3.8
0.0
24.5
9.3
0.9
29.4
6.7
0
40,350
0
6,240
0
185,370
254,780
82,230
75,000
0
0.0
3.2
0.0
0.5
0.0
14.9
20.5
6.6
6.0
0.0
43,400
29,300
0
47,150
1,044,300
4.2
2.8
0.0
4.5
100.0
336,100
128,720
133,400
0
1,242,190
27.1
10.4
10.7
0.0
100.0
997,160
809,150
188,010
8,990
38,150
1,044,300
95.5
77.5
18.0
0.9
3.7
100.0
811,690
402,540
409,150
430,500
0
1,242,190
65.3
32.4
32.9
34.7
0.0
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
The Netherlands
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
53,500
156,000
209,500
0
70,000
0
60,000
339,500
0
1
1
2
0
1
0
1
4
0
53,500
156,000
104,750
0
70,000
0
60,000
84,875
97,700
0
135,800
233,500
0
1,038,000
0
0
1,271,500
2
0
1
3
0
3
0
0
6
48,850
0
135,800
77,833
0
346,000
0
0
211,917
0
0
0
0
0
156,000
53,500
130,000
339,500
0
0
0
0
0
1
1
2
4
0
0
0
0
0
156,000
53,500
65,000
84,875
0
0
0
0
0
0
233,500
1,038,000
1,271,500
0
0
0
0
0
0
3
3
6
0
0
0
0
0
0
77,833
346,000
211,917
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
156,000
53,500
0
209,500
0
0
0
0
0
1
1
0
2
0
0
0
0
0
0
0
70,000
70,000
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
233,500
0
233,500
0
0
0
0
0
0
3
0
3
0
0
0
0
0
0
0
1,038,000
1,038,000
0
0
0
0
0
0
0
3
3

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
The Netherlands
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
1,700
106,166
59,238
167,105
196,619
31,748
132,610
236,235
764,316
0.2
13.9
7.8
21.9
25.7
4.2
17.4
30.9
100.0
3
136
69
208
50
14
19
20
307
1.0
43.7
22.2
66.9
16.1
4.5
6.1
6.4
100.0
1,025
105,463
55,635
162,123
203,029
33,801
193,002
708,473
1,300,427
0.1
8.1
4.3
12.5
15.6
2.6
14.8
54.5
100.0
2
130
52
184
57
10
30
34
310
0.6
41.3
16.5
58.4
18.1
3.2
9.5
10.8
100.0
200
107,424
128,422
7,204
20,322
143,562
38,071
86,694
20,191
53,943
3,603
144,106
10
10,565
0
764,316
127,718
0.0
14.1
16.8
0.9
2.7
18.8
5.0
11.3
2.6
7.1
0.5
18.9
0.0
1.4
0.0
100.0
16.7
2
42
24
8
27
53
2
24
9
20
3
85
1
7
0
307
116
0.7
13.7
7.8
2.6
8.8
17.3
0.7
7.8
2.9
6.5
1.0
27.7
0.3
2.3
0.0
100.0
37.8
22,657
100,265
199,230
171,497
74,790
67,158
32,859
303,906
26,846
16,471
108,452
158,058
350
15,355
2,534
1,300,427
95,692
1.7
7.7
15.3
13.2
5.8
5.2
2.5
23.4
2.1
1.3
8.3
12.2
0.0
1.2
0.2
100.0
7.4
5
21
23
16
24
54
5
29
19
13
5
87
1
6
2
310
88
1.6
6.8
7.4
5.2
7.7
17.4
1.6
9.4
6.1
4.2
1.6
28.1
0.3
1.9
0.6
100.0
28.4
409,231
355,085
764,316
53.5
46.5
100.0
199
118
307
62.8
37.2
100.0
1,010,852
289,575
1,300,427
77.7
22.3
100.0
215
100
310
68.3
31.7
100.0
355,160
389,798
46.5
51.0
101
200
32.5
64.3
940,138
351,717
72.3
27.0
119
192
37.5
60.6
19,358
764,316
430,389
2.5
100.0
56.3
10
307
117
3.2
100.0
38.1
8,571
1,300,427
1,081,934
0.7
100.0
83.2
6
310
150
1.9
100.0
48.4
639,075
105,623
19,617
764,316
83.6
13.8
2.6
100.0
251
47
9
307
81.8
15.3
2.9
100.0
1,076,991
170,152
53,284
1,300,427
82.8
13.1
4.1
100.0
249
45
16
310
80.3
14.5
5.2
100.0
41,506
15,078
14,325
5.4
2.0
1.9
8
3
8
2.6
1.0
2.6
70,772
52,854
33,383
5.4
4.1
2.6
5
15
13
1.6
4.8
4.2
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Belgium
Switzerland
France
US
US
Germany
Table of Contents
The Netherlands
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
49,373
186,862
0
0
236,235
20.9
79.1
0.0
0.0
100.0
16
4
0
0
20
80.0
20.0
0.0
0.0
100.0
116,887
591,586
0
0
708,473
16.5
83.5
0.0
0.0
100.0
22
13
0
0
34
62.9
37.1
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
677,626
70,894
15,797
764,316
88.7
9.3
2.1
100.0
207
55
54
307
65.5
17.4
17.1
100.0
1,000,821
286,606
13,000
1,300,427
77.0
22.0
1.0
100.0
216
62
39
310
68.1
19.6
12.3
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
The Netherlands
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
4,828
103,570
56,295
164,694
307,475
25,523
123,174
242,509
863,374
0.6
12.0
6.5
19.1
35.6
3.0
14.3
28.1
100.0
4
115
61
179
50
12
20
24
282
1.4
40.2
21.3
62.9
17.5
4.2
7.0
8.4
100.0
1,609
99,143
47,463
148,215
143,840
43,645
282,110
1,350,552
1,968,361
0.1
5.0
2.4
7.5
7.3
2.2
14.3
68.6
100.0
3
105
44
152
54
10
28
44
281
1.0
36.5
15.3
52.8
18.8
3.5
9.7
15.3
100.0
200
93,091
183,744
4,970
33,726
169,902
38,071
157,959
11,089
68,728
3,603
93,066
10
5,216
0
863,374
114,548
0.0
10.8
21.3
0.6
3.9
19.7
4.4
18.3
1.3
8.0
0.4
10.8
0.0
0.6
0.0
100.0
13.3
2
41
28
7
28
56
2
27
9
18
3
53
1
7
0
282
98
0.7
14.5
9.9
2.5
9.9
19.9
0.7
9.6
3.2
6.4
1.1
18.8
0.4
2.5
0.0
100.0
34.8
22,657
204,669
131,629
228,068
75,467
233,596
32,859
367,139
332,384
94,785
117,997
103,324
350
20,905
2,534
1,968,361
351,840
1.2
10.4
6.7
11.6
3.8
11.9
1.7
18.7
16.9
4.8
6.0
5.2
0.0
1.1
0.1
100.0
17.9
5
22
22
14
26
55
5
29
20
13
6
54
1
7
2
281
75
1.8
7.8
7.8
5.0
9.3
19.6
1.8
10.3
7.1
4.6
2.1
19.2
0.4
2.5
0.7
100.0
26.7
464,117
399,257
863,374
53.8
46.2
100.0
201
87
282
69.8
30.2
100.0
1,547,841
420,521
1,968,361
78.6
21.4
100.0
216
72
281
75.0
25.0
100.0
363,345
481,991
42.1
55.8
101
176
35.4
61.8
958,481
1,006,311
48.7
51.1
111
176
38.4
60.9
18,038
863,374
430,615
2.1
100.0
49.9
8
282
117
2.8
100.0
41.5
3,570
1,968,361
1,504,007
0.2
100.0
76.4
2
281
141
0.7
100.0
50.2
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
The Netherlands
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
55,647
186,862
0
0
242,509
22.9
77.1
0.0
0.0
100.0
20
4
0
0
24
83.3
16.7
0.0
0.0
100.0
151,583
893,431
0
305,538
1,350,552
11.2
66.2
0.0
22.6
100.0
29
15
0
1
44
64.4
33.3
0.0
2.2
100.0
Amount
Number of
companies
Amount
Number of
companies
200
18,174
2,801
1,473
8,779
35,961
361
8,266
1,630
28,893
551
55,533
10
2,061
0
164,694
84,578
0.1
11.0
1.7
0.9
5.3
21.8
0.2
5.0
1.0
17.5
0.3
33.7
0.0
1.3
0.0
100.0
51.4
2
21
8
5
19
44
1
11
4
13
1
46
1
3
0
179
87
1.1
11.7
4.5
2.8
10.6
24.6
0.6
6.1
2.2
7.3
0.6
25.7
0.6
1.7
0.0
100.0
48.6
305
2,620
3,072
1,471
2,300
50,911
0
5,624
2,885
15,885
1,147
60,957
350
164
525
148,215
107,073
0.2
1.8
2.1
1.0
1.6
34.3
0.0
3.8
1.9
10.7
0.8
41.1
0.2
0.1
0.4
100.0
72.2
2
7
8
6
16
38
0
7
6
10
3
45
1
2
1
152
65
1.3
4.6
5.3
3.9
10.5
25.0
0.0
4.6
3.9
6.6
2.0
29.6
0.7
1.3
0.7
100.0
42.8
0
74,917
180,943
3,496
24,948
133,941
37,710
149,692
9,459
39,836
3,051
37,533
0
3,154
0
698,680
29,970
0.0
10.7
25.9
0.5
3.6
19.2
5.4
21.4
1.4
5.7
0.4
5.4
0.0
0.5
0.0
100.0
4.3
0
20
20
2
9
12
1
16
5
5
2
7
0
4
0
103
11
0.0
19.4
19.4
1.9
8.7
11.7
1.0
15.5
4.9
4.9
1.9
6.8
0.0
3.9
0.0
100.0
10.7
22,352
202,049
128,557
226,597
73,167
182,685
32,859
361,515
329,499
78,900
116,850
42,367
0
20,741
2,009
1,820,146
244,768
1.2
11.1
7.1
12.4
4.0
10.0
1.8
19.9
18.1
4.3
6.4
2.3
0.0
1.1
0.1
100.0
13.4
3
15
14
8
10
17
5
23
15
3
3
9
0
6
1
132
10
2.3
11.4
10.6
6.1
7.6
12.9
3.8
17.4
11.4
2.3
2.3
6.8
0.0
4.5
0.8
100.0
7.6

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
The Netherlands
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
56,886
36,317
0
36,317
251,693
0
26,974
84,259
228
33,407
22,860
512,624
11.1
7.1
49.1
0.0
5.3
16.4
0.0
6.5
4.5
100.0
33
7
0
7
36
0
33
7
2
21
8
133
22.4
4.8
24.5
0.0
22.4
4.8
1.4
14.3
5.4
100.0
136,923
11,131
0
11,131
27,105
0
75,043
201,308
0
114,921
85,163
651,594
21.0
1.7
4.2
0.0
11.5
30.9
0.0
17.6
13.1
100.0
25
2
0
2
24
0
47
12
0
19
10
135
18.0
1.4
17.3
0.0
33.8
8.6
0.0
13.7
7.2
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate**
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
89
32
31
26
14,834
2,075
8,026
4,733
0.15%
0.13%
572
263
163
105.4
108.0
0.7%
3.7%
108.0
3.7%
0.33%
0.22%
591
268
169
106.7
115.0
1.0%
3.0%
108.0
4.5%
24,170
474
20,350
456
1,089
1
918
3

* DATASTREAM
** Eurostat
Table of Contents
The Netherlands
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
69,195
26,015
0
26,015
233,189
0
22,887
84,259
228
33,462
32,254
501,487
5
44,120
11,184
51,478
116,106
29,847
1,165
102,036
13,055
74,077
15,593
40,663
0
2,011
148
501,487
13.8
5.2
46.5
0.0
4.6
16.8
0.0
6.7
6.4
100.0
30
4
0
4
33
0
32
7
2
20
9
125
0.0
8.8
2.2
10.3
23.2
6.0
0.2
20.3
2.6
14.8
3.1
8.1
0.0
0.4
0.0
100.0
1
16
13
5
16
21
1
16
3
3
3
23
0
3
1
125
21.9
2.9
24.1
0.0
23.4
5.1
1.5
14.6
6.6
100.0
380,873
19
0
19
24,505
0
44,155
290,255
2,124
56,942
8,348
807,220
0.8
12.8
10.4
4.0
12.8
16.8
0.8
12.8
2.4
2.4
2.4
18.4
0.0
2.4
0.8
100.0
3,284
313,825
50,995
46,239
136,089
50,099
13,077
71,057
24,655
28,152
46,593
20,673
0
2,333
150
807,220
47.2
0.0
3.0
0.0
5.5
36.0
0.3
7.1
1.0
100.0
25
1
0
1
23
0
46
15
1
19
8
134
18.1
0.7
16.7
0.0
33.3
10.9
0.7
13.8
5.8
100.0
0.4
38.9
6.3
5.7
16.9
6.2
1.6
8.8
3.1
3.5
5.8
2.6
0.0
0.3
0.0
100.0
2
26
8
9
20
22
4
15
5
3
3
14
0
2
1
134
1.5
19.4
6.0
6.7
14.9
16.4
3.0
11.2
3.7
2.2
2.2
10.4
0.0
1.5
0.7
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
The Netherlands
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
33,635
2,580
0
2,580
84,599
0
8,280
1,186
228
24,999
8,136
163,643
0
3,298
2,646
78
16,406
17,187
0
7,554
172
74,077
11,128
30,823
0
126
148
163,643
20.6
1.6
51.7
0.0
5.1
0.7
0.1
15.3
5.0
100.0
24
1
0
1
24
0
24
2
2
11
4
83
0.0
2.0
1.6
0.0
10.0
10.5
0.0
4.6
0.1
45.3
6.8
18.8
0.0
0.1
0.1
100.0
0
7
8
4
15
17
0
3
2
3
2
19
0
2
1
83
26.1
1.1
26.1
0.0
26.1
2.2
2.2
12.0
4.3
100.0
49,398
0
0
0
11,878
0
6,052
69,000
0
2,130
4,034
142,492
0.0
8.4
9.6
4.8
18.1
20.5
0.0
3.6
2.4
3.6
2.4
22.9
0.0
2.4
1.2
100.0
0
1,019
210
1,076
82,428
34,803
139
3,588
150
460
0
18,469
0
0
150
142,492
34.7
0.0
8.3
0.0
4.2
48.4
0.0
1.5
2.8
100.0
7
0
0
0
15
0
30
1
0
3
6
61
11.3
0.0
24.2
0.0
48.4
1.6
0.0
4.8
9.7
100.0
0.0
0.7
0.1
0.8
57.8
24.4
0.1
2.5
0.1
0.3
0.0
13.0
0.0
0.0
0.1
100.0
0
9
2
5
12
15
2
1
1
2
0
11
0
0
1
61
0.0
14.8
3.3
8.2
19.7
24.6
3.3
1.6
1.6
3.3
0.0
18.0
0.0
0.0
1.6
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
The Netherlands
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
35,560
23,435
0
23,435
148,589
0
14,607
83,073
0
8,463
24,118
337,844
5
40,822
8,538
51,400
99,700
12,660
1,165
94,482
12,883
0
4,465
9,840
0
1,885
0
337,844
10.5
6.9
44.0
0.0
4.3
24.6
0.0
2.5
7.1
100.0
6
3
0
3
9
0
8
5
0
9
5
42
0.0
12.1
2.5
15.2
29.5
3.7
0.3
28.0
3.8
0.0
1.3
2.9
0.0
0.6
0.0
100.0
1
9
5
1
1
4
1
13
1
0
1
4
0
1
0
42
13.3
6.7
20.0
0.0
17.8
11.1
0.0
20.0
11.1
100.0
331,475
19
0
19
12,627
0
38,103
221,255
2,124
54,812
4,314
664,728
2.4
21.4
11.9
2.4
2.4
9.5
2.4
31.0
2.4
0.0
2.4
9.5
0.0
2.4
0.0
100.0
3,284
312,806
50,785
45,163
53,661
15,296
12,938
67,469
24,505
27,692
46,593
2,204
0
2,333
0
664,728
49.9
0.0
1.9
0.0
5.7
33.3
0.3
8.2
0.6
100.0
18
1
0
1
8
0
16
14
1
16
2
73
23.7
1.3
10.5
0.0
21.1
18.4
1.3
21.1
2.6
100.0
0.5
47.1
7.6
6.8
8.1
2.3
1.9
10.1
3.7
4.2
7.0
0.3
0.0
0.4
0.0
100.0
2
17
6
4
8
7
2
14
4
1
3
3
0
2
0
73
2.7
23.3
8.2
5.5
11.0
9.6
2.7
19.2
5.5
1.4
4.1
4.1
0.0
2.7
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
764,316
(125,241)
224,299
863,374
1,300,427
(223,436)
891,371
1,968,361
Amount
Amount
512,624
(63,051)
51,914
501,487
651,594
(197,922)
353,549
807,220
Table of Contents
Norway
Print

2009
2010
Amount
Amount
15,140
0
15,140
2,240
17,380
87.1
0.0
87.1
12.9
100.0
410,720
0
410,720
0
410,720
100.0
0.0
100.0
0.0
100.0
15,140
0
0
15,140
2,240
0
0
0
17,380
87.1
0.0
0.0
87.1
12.9
0.0
0.0
0.0
100.0
95,570
0
0
95,570
0
315,150
0
0
410,720
23.3
0.0
0.0
23.3
0.0
76.7
0.0
0.0
100.0
0
0
0
720
0
600
5,140
0
3,520
0
0.0
0.0
0.0
4.8
0.0
4.0
33.9
0.0
23.2
0.0
0
23,480
0
0
26,790
32,910
78,220
65,880
12,450
78,780
0.0
5.7
0.0
0.0
6.5
8.0
19.0
16.0
3.0
19.2
120
0
0
5,040
15,140
0.8
0.0
0.0
33.3
100.0
85,640
3,000
0
3,570
410,720
20.9
0.7
0.0
1.0
100.0
10,100
10,100
0
0
5,040
15,140
66.7
66.7
0.0
0.0
33.3
100.0
371,160
162,860
208,300
35,970
3,590
410,720
90.4
39.7
50.7
8.8
0.9
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Norway
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
17,860
0
0
17,860
0
0
0
0
17,860
3
0
0
3
0
0
0
0
3
5,953
0
0
5,953
0
0
0
0
5,953
0
0
0
0
0
315,140
0
0
315,140
0
0
0
0
0
1
0
0
1
0
0
0
0
0
315,140
0
0
315,140
0
0
0
9,850
0
0
0
8,010
17,860
0
0
0
1
0
0
0
2
3
0
0
0
9,850
0
0
0
4,005
5,953
0
0
0
315,140
0
0
0
0
315,140
0
0
0
1
0
0
0
0
1
0
0
0
315,140
0
0
0
0
315,140
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
9,850
0
0
0
8,010
17,860
0
0
0
1
0
0
0
2
3
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
315,140
0
0
0
0
315,140
0
0
0
1
0
0
0
0
1

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Norway
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
3,899
80,124
47,325
131,348
87,660
14,990
4,092
384,826
622,915
0.6
12.9
7.6
21.1
14.1
2.4
0.7
61.8
100.0
13
93
31
128
20
3
2
12
163
7.5
53.4
17.8
78.7
11.5
1.7
1.1
6.9
100.0
3,281
96,611
65,935
165,827
114,170
11,850
5,542
672,877
970,265
0.3
10.0
6.8
17.1
11.8
1.2
0.6
69.3
100.0
13
92
33
132
9
7
6
14
167
7.5
52.9
19.0
79.3
5.2
4.0
3.4
8.0
100.0
5,498
6,880
4,642
91
34,327
84,740
5,925
14,467
250
423,218
2,378
16,667
9,338
13,196
1,298
622,915
102,854
0.9
1.1
0.7
0.0
5.5
13.6
1.0
2.3
0.0
67.9
0.4
2.7
1.5
2.1
0.2
100.0
16.5
10
9
3
1
18
36
2
4
1
52
3
18
2
3
1
163
80
6.1
5.5
1.8
0.6
11.0
22.1
1.2
2.5
0.6
31.9
1.8
11.0
1.2
1.8
0.6
100.0
49.1
5,964
81,891
40,373
1,442
139,567
85,947
233
79,640
9,813
160,869
3,583
303,273
0
57,357
313
970,265
117,754
0.6
8.4
4.2
0.1
14.4
8.9
0.0
8.2
1.0
16.6
0.4
31.3
0.0
5.9
0.0
100.0
12.1
5
13
6
4
18
32
1
2
2
49
4
26
0
4
1
167
81
3.0
7.8
3.6
2.4
10.8
19.2
0.6
1.2
1.2
29.3
2.4
15.6
0.0
2.4
0.6
100.0
48.5
479,053
143,863
622,915
76.9
23.1
100.0
96
89
163
51.9
48.1
100.0
707,004
263,261
970,265
72.9
27.1
100.0
85
102
167
45.5
54.5
100.0
392,338
186,916
63.0
30.0
38
127
22.1
73.8
284,695
645,182
29.3
66.5
44
128
24.9
72.3
43,662
622,915
427,402
7.0
100.0
68.6
7
163
51
4.1
100.0
31.3
40,388
970,265
456,008
4.2
100.0
47.0
5
167
62
2.8
100.0
37.1
578,293
25,675
18,948
622,915
92.8
4.1
3.0
100.0
132
15
16
163
81.0
9.2
9.8
100.0
857,395
108,612
4,257
970,265
88.4
11.2
0.4
100.0
150
13
4
167
89.8
7.8
2.4
100.0
18,948
10,822
4,605
3.0
1.7
0.7
16
7
3
9.8
4.3
1.8
81,978
16,546
5,844
8.4
1.7
0.6
2
5
2
1.2
3.0
1.2
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
US
Switzerland
Sweden
Sweden
United Kingdom
United Kingdom
Table of Contents
Norway
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
14,684
100,142
270,000
0
384,826
3.8
26.0
70.2
0.0
100.0
6
5
1
0
12
50.0
41.7
8.3
0.0
100.0
62,776
347,650
262,450
0
672,877
9.3
51.7
39.0
0.0
100.0
6
9
1
0
14
37.5
56.3
6.3
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
579,327
19,255
24,333
622,915
93.0
3.1
3.9
100.0
146
21
8
163
83.4
12.0
4.6
100.0
914,101
15,219
40,944
970,265
94.2
1.6
4.2
100.0
148
18
19
167
80.0
9.7
10.3
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Norway
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
4,408
69,375
48,474
122,257
118,923
14,990
4,092
433,156
693,419
0.6
10.0
7.0
17.6
17.2
2.2
0.6
62.5
100.0
13
78
29
110
23
3
2
14
150
8.0
48.1
17.9
74.1
14.2
1.9
1.2
8.6
100.0
3,281
84,764
84,511
172,555
131,147
11,850
5,542
1,610,496
1,931,589
0.2
4.4
4.4
8.9
6.8
0.6
0.3
83.4
100.0
13
83
31
121
10
7
6
20
163
7.6
48.8
18.2
74.7
5.9
4.1
3.5
11.8
100.0
5,420
6,851
4,642
12,139
33,796
74,070
5,925
35,805
24,557
410,817
2,378
54,486
9,338
13,196
0
693,419
131,486
0.8
1.0
0.7
1.8
4.9
10.7
0.9
5.2
3.5
59.2
0.3
7.9
1.3
1.9
0.0
100.0
19.0
8
8
3
3
16
35
2
5
3
39
3
20
2
3
0
150
69
5.3
5.3
2.0
2.0
10.7
23.3
1.3
3.3
2.0
26.0
2.0
13.3
1.3
2.0
0.0
100.0
46.0
5,964
89,559
40,373
1,483
140,548
763,695
233
238,034
9,813
196,070
167
376,204
0
69,133
313
1,931,589
111,716
0.3
4.6
2.1
0.1
7.3
39.5
0.0
12.3
0.5
10.2
0.0
19.5
0.0
3.6
0.0
100.0
5.8
5
13
6
5
17
30
1
5
2
47
3
24
0
4
1
163
72
3.1
8.0
3.7
3.1
10.4
18.4
0.6
3.1
1.2
28.8
1.8
14.7
0.0
2.5
0.6
100.0
44.2
527,862
165,557
693,419
76.1
23.9
100.0
84
87
150
49.1
50.9
100.0
1,056,063
875,526
1,931,589
54.7
45.3
100.0
87
95
163
47.8
52.2
100.0
423,943
225,814
61.1
32.6
38
115
23.8
71.9
570,890
1,320,311
29.6
68.4
48
120
27.7
69.4
43,662
693,419
453,054
6.3
100.0
65.3
7
150
47
4.4
100.0
31.3
40,388
1,931,589
1,276,279
2.1
100.0
66.1
5
163
70
2.9
100.0
42.9
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Norway
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
41,677
121,479
270,000
0
433,156
9.6
28.0
62.3
0.0
100.0
7
6
1
0
14
50.0
42.9
7.1
0.0
100.0
87,396
505,470
455,238
562,392
1,610,496
5.4
31.4
28.3
34.9
100.0
8
12
2
1
20
34.8
52.2
8.7
4.3
100.0
Amount
Number of
companies
Amount
Number of
companies
3,705
2,919
72
12,139
15,015
19,249
0
85
0
51,099
2,378
15,597
0
0
0
122,257
61,421
3.0
2.4
0.1
9.9
12.3
15.7
0.0
0.1
0.0
41.8
1.9
12.8
0.0
0.0
0.0
100.0
50.2
6
7
1
3
15
27
0
1
0
30
3
17
0
0
0
110
60
5.5
6.4
0.9
2.7
13.6
24.5
0.0
0.9
0.0
27.3
2.7
15.5
0.0
0.0
0.0
100.0
54.5
5,964
14,590
5,709
1,483
11,431
38,696
0
0
1,909
64,993
125
10,234
0
17,420
0
172,555
83,762
3.5
8.5
3.3
0.9
6.6
22.4
0.0
0.0
1.1
37.7
0.1
5.9
0.0
10.1
0.0
100.0
48.5
5
8
3
5
14
24
0
0
1
37
2
21
0
1
0
121
68
4.1
6.6
2.5
4.1
11.6
19.8
0.0
0.0
0.8
30.6
1.7
17.4
0.0
0.8
0.0
100.0
56.2
1,714
3,933
4,569
0
18,781
54,821
5,925
35,720
24,557
359,719
0
38,889
9,338
13,196
0
571,162
70,065
0.3
0.7
0.8
0.0
3.3
9.6
1.0
6.3
4.3
63.0
0.0
6.8
1.6
2.3
0.0
100.0
12.3
3
1
2
0
1
8
2
4
3
9
0
3
2
3
0
41
9
7.3
2.4
4.9
0.0
2.4
19.5
4.9
9.8
7.3
22.0
0.0
7.3
4.9
7.3
0.0
100.0
22.0
0
74,969
34,664
0
129,117
724,998
233
238,034
7,904
131,076
42
365,970
0
51,713
313
1,759,034
27,954
0.0
4.3
2.0
0.0
7.3
41.2
0.0
13.5
0.4
7.5
0.0
20.8
0.0
2.9
0.0
100.0
1.6
0
5
3
0
3
6
1
5
1
10
2
3
0
3
1
43
4
0.0
11.6
7.0
0.0
7.0
14.0
2.3
11.6
2.3
23.3
4.7
7.0
0.0
7.0
2.3
100.0
9.3

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Norway
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
15,791
4,857
0
4,857
7,100
0
162
300
165
11,659
2,790
42,823
36.9
11.3
16.6
0.0
0.4
0.7
0.4
27.2
6.5
100.0
5
3
0
3
9
0
2
1
1
3
3
25
18.5
11.1
33.3
0.0
7.4
3.7
3.7
11.1
11.1
100.0
45,882
25,537
0
25,537
9,830
0
610
38,506
1,000
6,067
983
128,415
35.7
19.9
7.7
0.0
0.5
30.0
0.8
4.7
0.8
100.0
12
5
0
5
8
0
5
3
1
6
1
40
29.3
12.2
19.5
0.0
12.2
7.3
2.4
14.6
2.4
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Interest rates (3-month - interbank offered rate)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
45
30
6
9
7,225
2,002
4,056
1,166
0.26%
0.24%
264
112
59
125.7
174.1
2.2%
4.2%
115.1
2.7%
0.61%
0.31%
314
135
70
128.8
206.0
2.6%
3.7%
116.8
2.9%
3,205
268
9,424
375
0
0
2,511
9

* DATASTREAM
Table of Contents
Norway
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
15,660
4,857
0
4,857
90,919
0
162
534
165
11,698
1,882
125,877
1,428
203
0
28
11,799
7,041
0
83,954
0
15,153
5
5,248
0
0
1,018
125,877
12.4
3.9
72.2
0.0
0.1
0.4
0.1
9.3
1.5
100.0
5
3
0
3
10
0
2
2
1
4
2
26
1.1
0.2
0.0
0.0
9.4
5.6
0.0
66.7
0.0
12.0
0.0
4.2
0.0
0.0
0.8
100.0
2
1
0
1
3
5
0
3
0
5
1
4
0
0
1
26
17.2
10.3
34.5
0.0
6.9
6.9
3.4
13.8
6.9
100.0
32,534
18,113
0
18,113
7,421
0
610
181,583
1,000
6,067
983
248,312
7.7
3.8
0.0
3.8
11.5
19.2
0.0
11.5
0.0
19.2
3.8
15.4
0.0
0.0
3.8
100.0
10,549
7,009
4,032
231
1,338
146,849
0
0
837
8,311
13,132
53,479
2,545
0
0
248,312
13.1
7.3
3.0
0.0
0.2
73.1
0.4
2.4
0.4
100.0
10
4
0
4
7
0
5
5
1
6
1
38
25.6
10.3
17.9
0.0
12.8
12.8
2.6
15.4
2.6
100.0
4.2
2.8
1.6
0.1
0.5
59.1
0.0
0.0
0.3
3.3
5.3
21.5
1.0
0.0
0.0
100.0
6
7
2
1
2
7
0
0
1
3
1
7
1
0
0
38
15.8
18.4
5.3
2.6
5.3
18.4
0.0
0.0
2.6
7.9
2.6
18.4
2.6
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Norway
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
4,662
4,857
0
4,857
8,419
0
162
534
165
132
1,018
19,949
1,428
203
0
28
2,099
6,177
0
1,454
0
2,289
5
5,248
0
0
1,018
19,949
23.4
24.3
42.2
0.0
0.8
2.7
0.8
0.7
5.1
100.0
3
3
0
3
9
0
2
2
1
3
1
22
7.2
1.0
0.0
0.1
10.5
31.0
0.0
7.3
0.0
11.5
0.0
26.3
0.0
0.0
5.1
100.0
2
1
0
1
2
4
0
2
0
4
1
4
0
0
1
22
12.5
12.5
37.5
0.0
8.3
8.3
4.2
12.5
4.2
100.0
19,001
10,768
0
10,768
7,421
0
610
1,394
1,000
5,939
983
47,117
9.1
4.5
0.0
4.5
9.1
18.2
0.0
9.1
0.0
18.2
4.5
18.2
0.0
0.0
4.5
100.0
10,549
6,609
4,032
231
1,338
3,643
0
0
837
3,511
0
16,367
0
0
0
47,117
40.3
22.9
15.8
0.0
1.3
3.0
2.1
12.6
2.1
100.0
8
2
0
2
7
0
5
2
1
4
1
29
26.7
6.7
23.3
0.0
16.7
6.7
3.3
13.3
3.3
100.0
22.4
14.0
8.6
0.5
2.8
7.7
0.0
0.0
1.8
7.5
0.0
34.7
0.0
0.0
0.0
100.0
6
6
2
1
2
3
0
0
1
2
0
6
0
0
0
29
20.7
20.7
6.9
3.4
6.9
10.3
0.0
0.0
3.4
6.9
0.0
20.7
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Norway
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
10,998
0
0
0
82,500
0
0
0
0
11,565
864
105,928
0
0
0
0
9,700
864
0
82,500
0
12,864
0
0
0
0
0
105,928
10.4
0.0
77.9
0.0
0.0
0.0
0.0
10.9
0.8
100.0
2
0
0
0
1
0
0
0
0
1
1
5
0.0
0.0
0.0
0.0
9.2
0.8
0.0
77.9
0.0
12.1
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
1
0
1
0
2
0
0
0
0
0
5
40.0
0.0
20.0
0.0
0.0
0.0
0.0
20.0
20.0
100.0
13,532
7,345
0
7,345
0
0
0
180,189
0
128
0
201,195
0.0
0.0
0.0
0.0
20.0
20.0
0.0
20.0
0.0
40.0
0.0
0.0
0.0
0.0
0.0
100.0
0
400
0
0
0
143,205
0
0
0
4,800
13,132
37,112
2,545
0
0
201,195
6.7
3.7
0.0
0.0
0.0
89.6
0.0
0.1
0.0
100.0
2
2
0
2
0
0
0
3
0
2
0
9
22.2
22.2
0.0
0.0
0.0
33.3
0.0
22.2
0.0
100.0
0.0
0.2
0.0
0.0
0.0
71.2
0.0
0.0
0.0
2.4
6.5
18.4
1.3
0.0
0.0
100.0
0
1
0
0
0
4
0
0
0
1
1
1
1
0
0
9
0.0
11.1
0.0
0.0
0.0
44.4
0.0
0.0
0.0
11.1
11.1
11.1
11.1
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
622,915
(44,622)
115,126
693,419
970,265
(112,869)
1,074,194
1,931,589
Amount
Amount
42,823
(7,238)
90,291
125,877
128,415
(24,917)
144,814
248,312
Table of Contents
Poland
Print

2009
2010
Amount
Amount
134,790
0
134,790
0
134,790
100.0
0.0
100.0
0.0
100.0
114,760
0
114,760
0
114,760
100.0
0.0
100.0
0.0
100.0
9,100
0
0
9,100
0
125,690
0
0
134,790
6.8
0.0
0.0
6.8
0.0
93.2
0.0
0.0
100.0
7,660
0
0
7,660
0
107,100
0
0
114,760
6.7
0.0
0.0
6.7
0.0
93.3
0.0
0.0
100.0
0
34,000
2,730
0
0
0
24,550
25,000
38,090
1,820
0.0
25.2
2.0
0.0
0.0
0.0
18.2
18.5
28.3
1.4
0
0
0
3,830
0
0
50,000
58,830
0
0
0.0
0.0
0.0
3.3
0.0
0.0
43.6
51.3
0.0
0.0
0
8,600
0
0
134,790
0.0
6.4
0.0
0.0
100.0
0
0
0
2,100
114,760
0.0
0.0
0.0
1.8
100.0
124,790
17,700
107,090
10,000
0
134,790
92.6
13.1
79.4
7.4
0.0
100.0
112,660
7,660
105,000
0
2,100
114,760
98.2
6.7
91.5
0.0
1.8
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Poland
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
9,100
0
0
9,100
0
388,290
0
0
397,390
1
0
0
1
0
1
0
0
2
9,100
0
0
9,100
0
388,290
0
0
198,695
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
397,390
397,390
0
0
0
0
0
0
0
2
2
0
0
0
0
0
0
0
198,695
198,695
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
9,100
9,100
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
388,290
388,290
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Poland
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
1,100
0
484
1,584
61,554
6,100
99
411,102
480,439
0.2
0.0
0.1
0.3
12.8
1.3
0.0
85.6
100.0
1
1
4
6
9
1
1
13
29
3.3
3.3
13.3
20.0
30.0
3.3
3.3
43.3
100.0
0
1,293
13,137
14,430
127,742
4,573
16,145
341,590
504,480
0.0
0.3
2.6
2.9
25.3
0.9
3.2
67.7
100.0
0
6
5
11
20
2
3
18
52
0.0
11.1
9.3
20.4
37.0
3.7
5.6
33.3
100.0
82
33,319
22,485
627
146,978
3,771
0
79,205
2,241
1,100
0
146,332
44,300
0
0
480,439
4,440
0.0
6.9
4.7
0.1
30.6
0.8
0.0
16.5
0.5
0.2
0.0
30.5
9.2
0.0
0.0
100.0
0.9
1
4
2
1
5
3
0
6
2
1
0
3
1
0
0
29
2
3.4
13.8
6.9
3.4
17.2
10.3
0.0
20.7
6.9
3.4
0.0
10.3
3.4
0.0
0.0
100.0
6.9
320
43,286
63,659
0
77,074
12,597
1,034
153,211
13,349
0
71,749
39,014
1,073
28,114
0
504,480
318
0.1
8.6
12.6
0.0
15.3
2.5
0.2
30.4
2.6
0.0
14.2
7.7
0.2
5.6
0.0
100.0
0.1
1
5
2
0
8
3
1
11
5
0
7
6
1
2
0
52
2
1.9
9.6
3.8
0.0
15.4
5.8
1.9
21.2
9.6
0.0
13.5
11.5
1.9
3.8
0.0
100.0
3.8
474,190
6,249
480,439
98.7
1.3
100.0
24
5
29
82.8
17.2
100.0
368,386
136,095
504,480
73.0
27.0
100.0
41
11
52
78.8
21.2
100.0
273,192
156,054
56.9
32.5
14
12
48.3
41.4
442,262
62,219
87.7
12.3
33
20
62.3
37.7
51,192
480,439
419,192
10.7
100.0
87.3
3
29
15
10.3
100.0
51.7
0
504,480
448,648
0.0
100.0
88.9
0
52
35
0.0
100.0
67.3
266,594
212,745
1,100
480,439
55.5
44.3
0.2
100.0
23
5
1
29
79.3
17.2
3.4
100.0
415,807
54,775
33,899
504,480
82.4
10.9
6.7
100.0
40
10
2
52
76.9
19.2
3.8
100.0
146,082
66,000
1,100
30.4
13.7
0.2
2
1
1
6.9
3.4
3.4
33,592
23,050
9,877
6.7
4.6
2.0
1
1
2
1.9
1.9
3.8
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Bulgaria
Other Australasia
Romania
Hungary
Cyprus
Romania
Table of Contents
Poland
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
17,302
393,800
0
0
411,102
4.2
95.8
0.0
0.0
100.0
8
5
0
0
13
61.5
38.5
0.0
0.0
100.0
88,094
253,496
0
0
341,590
25.8
74.2
0.0
0.0
100.0
11
7
0
0
18
61.1
38.9
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
478,183
2,256
0
480,439
99.5
0.5
0.0
100.0
28
1
0
29
96.6
3.4
0.0
100.0
504,075
405
0
504,480
99.9
0.1
0.0
100.0
50
2
0
52
96.2
3.8
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Poland
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
0.01*
634
634
61,559
6,100
99
198,602
266,994
0.0
0.0
0.2
0.2
23.1
2.3
0.0
74.4
100.0
0
1
5
6
8
1
1
10
25
0.0
3.8
19.2
23.1
30.8
3.8
3.8
38.5
100.0
0
1,293
1,272
2,565
114,454
3,073
16,145
520,517
656,754
0.0
0.2
0.2
0.4
17.4
0.5
2.5
79.3
100.0
0
6
3
9
15
1
3
18
44
0.0
13.0
6.5
19.6
32.6
2.2
6.5
39.1
100.0
0
33,406
22,485
627
628
3,771
0
13,205
2,241
0
0
146,332
44,300
0
0
266,994
4,440
0.0
12.5
8.4
0.2
0.2
1.4
0.0
4.9
0.8
0.0
0.0
54.8
16.6
0.0
0.0
100.0
1.7
0
4
2
1
4
3
0
5
2
0
0
3
1
0
0
25
2
0.0
16.0
8.0
4.0
16.0
12.0
0.0
20.0
8.0
0.0
0.0
12.0
4.0
0.0
0.0
100.0
8.0
0
42,975
60,647
0
69,246
6,087
1,034
275,241
91,490
0
41,834
39,014
1,073
28,114
0
656,754
318
0.0
6.5
9.2
0.0
10.5
0.9
0.2
41.9
13.9
0.0
6.4
5.9
0.2
4.3
0.0
100.0
0.0
0
4
1
0
7
2
1
11
4
0
5
6
1
2
0
44
2
0.0
9.1
2.3
0.0
15.9
4.5
2.3
25.0
9.1
0.0
11.4
13.6
2.3
4.5
0.0
100.0
4.5
261,926
5,068
266,994
98.1
1.9
100.0
22
3
25
88.0
12.0
100.0
525,659
131,095
656,754
80.0
20.0
100.0
34
10
44
77.3
22.7
100.0
206,092
9,709
77.2
3.6
12
10
48.0
40.0
603,731
53,023
91.9
8.1
31
14
68.9
31.1
51,192
266,994
206,092
19.2
100.0
77.2
3
25
12
12.0
100.0
48.0
0
656,754
614,585
0.0
100.0
93.6
0
44
33
0.0
100.0
75.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
* The amount invested is below 1 thousand
Table of Contents
Poland
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
16,802
181,800
0
0
198,602
8.5
91.5
0.0
0.0
100.0
7
3
0
0
10
70.0
30.0
0.0
0.0
100.0
96,416
274,101
150,000
0
520,517
18.5
52.7
28.8
0.0
100.0
12
6
1
0
18
63.2
31.6
5.3
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
0
0
0
628
3
0
0
3
0
0
0
0
0
0
634
3
0.0
0.0
0.0
0.0
99.1
0.5
0.0
0.0
0.5
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.5
0
0
0
0
4
1
0
0
1
0
0
0
0
0
0
6
1
0.0
0.0
0.0
0.0
66.7
16.7
0.0
0.0
16.7
0.0
0.0
0.0
0.0
0.0
0.0
100.0
16.7
0
0
0
0
927
74
0
0
702
0
93
769
0
0
0
2,565
318
0.0
0.0
0.0
0.0
36.2
2.9
0.0
0.0
27.4
0.0
3.6
30.0
0.0
0.0
0.0
100.0
12.4
0
0
0
0
4
1
0
0
1
0
1
2
0
0
0
9
2
0.0
0.0
0.0
0.0
44.4
11.1
0.0
0.0
11.1
0.0
11.1
22.2
0.0
0.0
0.0
100.0
22.2
0
33,406
22,485
627
0
3,768
0
13,205
2,238
0
0
146,332
44,300
0
0
266,360
4,438
0.0
12.5
8.4
0.2
0.0
1.4
0.0
5.0
0.8
0.0
0.0
54.9
16.6
0.0
0.0
100.0
1.7
0
4
2
1
0
2
0
5
1
0
0
3
1
0
0
19
1
0.0
21.1
10.5
5.3
0.0
10.5
0.0
26.3
5.3
0.0
0.0
15.8
5.3
0.0
0.0
100.0
5.3
0
42,975
60,647
0
68,318
6,013
1,034
275,241
90,788
0
41,741
38,245
1,073
28,114
0
654,189
0
0.0
6.6
9.3
0.0
10.4
0.9
0.2
42.1
13.9
0.0
6.4
5.8
0.2
4.3
0.0
100.0
0.0
0
4
1
0
3
1
1
11
3
0
4
4
1
2
0
35
0
0.0
11.4
2.9
0.0
8.6
2.9
2.9
31.4
8.6
0.0
11.4
11.4
2.9
5.7
0.0
100.0
0.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Poland
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
6,115
18,497
0
18,497
0
0
3,150
5,726
47
3,455
732
37,723
16.2
49.0
0.0
0.0
8.4
15.2
0.1
9.2
1.9
100.0
2
5
0
5
0
0
2
3
1
1
3
13
11.8
29.4
0.0
0.0
11.8
17.6
5.9
5.9
17.6
100.0
16,710
950
0
950
36,353
0
0
4,954
0
1,513
720
61,200
27.3
1.6
59.4
0.0
0.0
8.1
0.0
2.5
1.2
100.0
5
2
0
2
1
0
0
3
0
4
1
16
31.3
12.5
6.3
0.0
0.0
18.8
0.0
25.0
6.3
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Retail sales (previous year=100)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
25
13
9
3
3,521
250
2,421
849
0.09%
0.16%
301.0
181.3
58.2
151.7
109.7
3.90%
6.12%
103.5
10.9%
0.19%
0.15%
342.2
207.4
66.7
155.9
112.1
3.86%
5.78%
105.7
12.1%
2,193
230
3,726
299
1,607
11
3,708
59

* DATASTREAM
Table of Contents
Poland
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
6,265
14,274
0
14,274
0
0
0
585
9,981
0
332
31,438
0
13,570
11,049
0
5,878
210
0
0
150
0
580
0
0
0
0
31,438
19.9
45.4
0.0
0.0
0.0
1.9
31.7
0.0
1.1
100.0
3
4
0
4
0
0
0
2
2
0
2
9
0.0
43.2
35.1
0.0
18.7
0.7
0.0
0.0
0.5
0.0
1.8
0.0
0.0
0.0
0.0
100.0
0
1
2
0
3
1
0
0
1
0
1
0
0
0
0
9
23.1
30.8
0.0
0.0
0.0
15.4
15.4
0.0
15.4
100.0
7,314
1,493
0
1,493
36,353
0
0
13,277
181
20,171
0
78,788
0.0
11.1
22.2
0.0
33.3
11.1
0.0
0.0
11.1
0.0
11.1
0.0
0.0
0.0
0.0
100.0
0
906
2
0
8,169
411
0
47,558
1,672
0
20,070
0
0
0
0
78,788
9.3
1.9
46.1
0.0
0.0
16.9
0.2
25.6
0.0
100.0
4
3
0
3
1
0
0
4
2
5
0
19
21.1
15.8
5.3
0.0
0.0
21.1
10.5
26.3
0.0
100.0
0.0
1.2
0.0
0.0
10.4
0.5
0.0
60.4
2.1
0.0
25.5
0.0
0.0
0.0
0.0
100.0
0
1
1
0
6
1
0
4
2
0
4
0
0
0
0
19
0.0
5.3
5.3
0.0
31.6
5.3
0.0
21.1
10.5
0.0
21.1
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Poland
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
150
124
0
124
0
0
0
585
47
0
121
1,028
0
0
0
0
878
0
0
0
150
0
0
0
0
0
0
1,028
14.6
12.1
0.0
0.0
0.0
56.9
4.6
0.0
11.8
100.0
1
2
0
2
0
0
0
2
1
0
1
3
0.0
0.0
0.0
0.0
85.4
0.0
0.0
0.0
14.6
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
2
0
0
0
1
0
0
0
0
0
0
3
14.3
28.6
0.0
0.0
0.0
28.6
14.3
0.0
14.3
100.0
7
1,493
0
1,493
0
0
0
7,548
150
20,171
0
29,368
0.0
0.0
0.0
0.0
66.7
0.0
0.0
0.0
33.3
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
906
2
0
7,490
411
0
0
550
0
20,008
0
0
0
0
29,368
0.0
5.1
0.0
0.0
0.0
25.7
0.5
68.7
0.0
100.0
1
3
0
3
0
0
0
2
1
5
0
12
8.3
25.0
0.0
0.0
0.0
16.7
8.3
41.7
0.0
100.0
0.0
3.1
0.0
0.0
25.5
1.4
0.0
0.0
1.9
0.0
68.1
0.0
0.0
0.0
0.0
100.0
0
1
1
0
6
1
0
0
1
0
2
0
0
0
0
12
0.0
8.3
8.3
0.0
50.0
8.3
0.0
0.0
8.3
0.0
16.7
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Poland
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
6,115
14,150
0
14,150
0
0
0
0
9,934
0
210
30,410
0
13,570
11,049
0
5,000
210
0
0
0
0
580
0
0
0
0
30,410
20.1
46.5
0.0
0.0
0.0
0.0
32.7
0.0
0.7
100.0
2
2
0
2
0
0
0
0
1
0
1
6
0.0
44.6
36.3
0.0
16.4
0.7
0.0
0.0
0.0
0.0
1.9
0.0
0.0
0.0
0.0
100.0
0
1
2
0
1
1
0
0
0
0
1
0
0
0
0
6
33.3
33.3
0.0
0.0
0.0
0.0
16.7
0.0
16.7
100.0
7,307
0
0
0
36,353
0
0
5,729
31
0
0
49,420
0.0
16.7
33.3
0.0
16.7
16.7
0.0
0.0
0.0
0.0
16.7
0.0
0.0
0.0
0.0
100.0
0
0
0
0
679
0
0
47,558
1,122
0
62
0
0
0
0
49,420
14.8
0.0
73.6
0.0
0.0
11.6
0.1
0.0
0.0
100.0
3
0
0
0
1
0
0
3
1
0
0
8
37.5
0.0
12.5
0.0
0.0
37.5
12.5
0.0
0.0
100.0
0.0
0.0
0.0
0.0
1.4
0.0
0.0
96.2
2.3
0.0
0.1
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
4
1
0
2
0
0
0
0
8
0.0
0.0
0.0
0.0
12.5
0.0
0.0
50.0
12.5
0.0
25.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
480,439
(213,845)
400
266,994
504,480
(88,674)
240,947
656,754
Amount
Amount
37,723
(16,369)
10,084
31,438
61,200
(14,941)
32,529
78,788
Table of Contents
Portugal
Print

2009
2010
Amount
Amount
716,750
284,700
1,001,450
0
1,001,450
71.6
28.4
100.0
0.0
100.0
141,500
0
141,500
0
141,500
100.0
0.0
100.0
0.0
100.0
8,000
0
229,600
237,600
0
395,000
30,000
338,850
1,001,450
0.8
0.0
22.9
23.7
0.0
39.4
3.0
33.8
100.0
0
0
56,500
56,500
0
75,000
0
10,000
141,500
0.0
0.0
39.9
39.9
0.0
53.0
0.0
7.1
100.0
0
813,700
0
27,750
0
9,400
0
125,000
9,000
0
0.0
81.3
0.0
2.8
0.0
0.9
0.0
12.5
0.9
0.0
0
48,180
0
1,000
15,000
0
0
52,320
3,000
0
0.0
34.0
0.0
0.7
10.6
0.0
0.0
37.0
2.1
0.0
0
7,000
0
9,600
1,001,450
0.0
0.7
0.0
1.0
100.0
6,500
11,500
0
4,000
141,500
4.6
8.1
0.0
2.8
100.0
995,350
892,350
103,000
1,500
4,600
1,001,450
99.4
89.1
10.3
0.1
0.5
100.0
137,500
87,820
49,680
0
4,000
141,500
97.2
62.1
35.1
0.0
2.8
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Portugal
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
75,000
75,000
0
0
0
10,000
85,000
0
0
1
1
0
0
0
1
2
0
0
75,000
75,000
0
0
0
10,000
42,500
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
85,000
85,000
0
0
0
0
0
0
0
2
2
0
0
0
0
0
0
0
42,500
42,500
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
75,000
75,000
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Portugal
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
88
30,322
12,694
43,104
12,000
60,747
65,199
118,210
299,260
0.0
10.1
4.2
14.4
4.0
20.3
21.8
39.5
100.0
2
52
17
69
6
6
10
6
94
2.0
52.5
17.2
71.7
6.1
6.1
10.1
6.1
100.0
35
51,872
12,146
64,054
5,707
1,534
8,000
120,614
199,909
0.0
25.9
6.1
32.0
2.9
0.8
4.0
60.3
100.0
1
37
6
44
7
2
1
17
69
1.4
52.1
8.5
62.0
9.9
2.8
1.4
23.9
100.0
2,640
13,633
20,114
21,381
4,945
5,343
0
26,746
15,531
29,305
0
93,174
0
0
66,449
299,260
13,188
0.9
4.6
6.7
7.1
1.7
1.8
0.0
8.9
5.2
9.8
0.0
31.1
0.0
0.0
22.2
100.0
4.4
2
7
7
3
6
10
0
13
10
13
0
11
0
0
12
94
13
2.1
7.4
7.4
3.2
6.4
10.6
0.0
13.8
10.6
13.8
0.0
11.7
0.0
0.0
12.8
100.0
13.8
506
21,427
281
74,570
3,640
5,028
0
18,183
20,130
15,586
0
2,393
0
38,165
0
199,909
16,241
0.3
10.7
0.1
37.3
1.8
2.5
0.0
9.1
10.1
7.8
0.0
1.2
0.0
19.1
0.0
100.0
8.1
3
8
2
5
3
9
0
14
5
7
0
9
0
4
0
69
10
4.3
11.6
2.9
7.2
4.3
13.0
0.0
20.3
7.2
10.1
0.0
13.0
0.0
5.8
0.0
100.0
14.5
159,511
139,749
299,260
53.3
46.7
100.0
62
38
94
62.0
38.0
100.0
90,599
109,311
199,909
45.3
54.7
100.0
36
35
69
50.7
49.3
100.0
232,057
41,921
77.5
14.0
34
32
32.7
30.8
174,838
24,811
87.5
12.4
32
41
43.2
55.4
25,282
299,260
242,267
8.4
100.0
81.0
38
94
39
36.5
100.0
41.5
260
199,909
187,064
0.1
100.0
93.6
1
69
34
1.4
100.0
49.3
283,685
7,411
8,164
299,260
94.8
2.5
2.7
100.0
82
6
6
94
87.2
6.4
6.4
100.0
188,712
972
10,226
199,909
94.4
0.5
5.1
100.0
67
1
1
69
97.1
1.4
1.4
100.0
6,224
4,011
3,400
2.1
1.3
1.1
4
5
1
4.3
5.3
1.1
10,226
972
0
5.1
0.5
0.0
1
1
0
1.4
1.4
0.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
US
US
Spain
France
France
-
Table of Contents
Portugal
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
7,620
110,590
0
0
118,210
6.4
93.6
0.0
0.0
100.0
4
2
0
0
6
66.7
33.3
0.0
0.0
100.0
45,980
74,634
0
0
120,614
38.1
61.9
0.0
0.0
100.0
15
3
0
0
17
83.3
16.7
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
222,069
68,191
9,000
299,260
74.2
22.8
3.0
100.0
77
16
2
94
81.1
16.8
2.1
100.0
199,045
864
0
199,909
99.6
0.4
0.0
100.0
66
3
0
69
95.7
4.3
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Portugal
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
88
28,805
5,876
34,769
8,469
60,747
65,069
134,354
303,408
0.0
9.5
1.9
11.5
2.8
20.0
21.4
44.3
100.0
2
49
13
62
5
6
9
7
85
2.2
53.8
14.3
70.3
5.5
6.6
9.9
7.7
100.0
35
51,872
1,921
53,828
5,707
1,534
8,000
119,642
188,712
0.0
27.5
1.0
28.5
3.0
0.8
4.2
63.4
100.0
1
37
5
43
7
2
1
16
67
1.4
53.6
7.2
62.3
10.1
2.9
1.4
23.2
100.0
2,640
6,733
20,193
21,381
2,766
4,810
6,000
26,495
15,381
23,873
0
106,818
0
0
66,319
303,408
21,532
0.9
2.2
6.7
7.0
0.9
1.6
2.0
8.7
5.1
7.9
0.0
35.2
0.0
0.0
21.9
100.0
7.1
2
5
8
3
5
9
1
12
9
8
0
12
0
0
11
85
11
2.4
5.9
9.4
3.5
5.9
10.6
1.2
14.1
10.6
9.4
0.0
14.1
0.0
0.0
12.9
100.0
12.9
506
20,455
281
74,570
3,640
5,028
0
18,183
20,130
5,360
0
2,393
0
38,165
0
188,712
6,015
0.3
10.8
0.1
39.5
1.9
2.7
0.0
9.6
10.7
2.8
0.0
1.3
0.0
20.2
0.0
100.0
3.2
3
7
2
5
3
9
0
14
5
6
0
9
0
4
0
67
9
4.5
10.4
3.0
7.5
4.5
13.4
0.0
20.9
7.5
9.0
0.0
13.4
0.0
6.0
0.0
100.0
13.4
177,412
125,997
303,408
58.5
41.5
100.0
60
30
85
66.7
33.3
100.0
90,599
98,113
188,712
48.0
52.0
100.0
36
33
67
52.2
47.8
100.0
248,201
29,925
81.8
9.9
35
22
36.8
23.2
173,866
14,585
92.1
7.7
31
40
43.1
55.6
25,282
303,408
251,651
8.3
100.0
82.9
38
85
38
40.0
100.0
44.7
260
188,712
175,866
0.1
100.0
93.2
1
67
32
1.4
100.0
47.8
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Portugal
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
23,764
110,590
0
0
134,354
17.7
82.3
0.0
0.0
100.0
5
2
0
0
7
71.4
28.6
0.0
0.0
100.0
45,008
74,634
0
0
119,642
37.6
62.4
0.0
0.0
100.0
14
3
0
0
16
82.4
17.6
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
2,520
1,133
373
195
2,308
3,310
0
4,235
12,989
4,783
0
1,674
0
0
1,250
34,769
6,388
7.2
3.3
1.1
0.6
6.6
9.5
0.0
12.2
37.4
13.8
0.0
4.8
0.0
0.0
3.6
100.0
18.4
2
3
5
2
5
8
0
10
8
7
0
10
0
0
2
62
10
3.2
4.8
8.1
3.2
8.1
12.9
0.0
16.1
12.9
11.3
0.0
16.1
0.0
0.0
3.2
100.0
16.1
246
1,088
91
38,547
3,640
2,218
0
371
30
5,360
0
2,238
0
0
0
53,828
6,015
0.5
2.0
0.2
71.6
6.8
4.1
0.0
0.7
0.1
10.0
0.0
4.2
0.0
0.0
0.0
100.0
11.2
2
3
2
4
3
8
0
5
2
6
0
8
0
0
0
43
9
4.7
7.0
4.7
9.3
7.0
18.6
0.0
11.6
4.7
14.0
0.0
18.6
0.0
0.0
0.0
100.0
20.9
120
5,600
19,820
21,186
458
1,500
6,000
22,260
2,392
19,090
0
105,144
0
0
65,069
268,639
15,144
0.0
2.1
7.4
7.9
0.2
0.6
2.2
8.3
0.9
7.1
0.0
39.1
0.0
0.0
24.2
100.0
5.6
1
2
4
1
1
1
1
2
2
1
0
2
0
0
9
27
2
3.7
7.4
14.8
3.7
3.7
3.7
3.7
7.4
7.4
3.7
0.0
7.4
0.0
0.0
33.3
100.0
7.4
260
19,367
191
36,023
0
2,810
0
17,812
20,100
0
0
155
0
38,165
0
134,883
0
0.2
14.4
0.1
26.7
0.0
2.1
0.0
13.2
14.9
0.0
0.0
0.1
0.0
28.3
0.0
100.0
0.0
1
4
1
2
0
1
0
9
3
0
0
1
0
4
0
26
0
3.8
15.4
3.8
7.7
0.0
3.8
0.0
34.6
11.5
0.0
0.0
3.8
0.0
15.4
0.0
100.0
0.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Portugal
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
68,973
215
0
215
2,594
2,713
4,627
2,500
0
11,353
369
93,344
73.9
0.2
2.8
2.9
5.0
2.7
0.0
12.2
0.4
100.0
13
1
0
1
3
3
14
1
0
13
1
47
26.5
2.0
6.1
6.1
28.6
2.0
0.0
26.5
2.0
100.0
4,145
0
0
0
3,472
0
3,263
4,200
5
13,445
2,707
31,236
13.3
0.0
11.1
0.0
10.4
13.4
0.0
43.0
8.7
100.0
2
0
0
0
4
0
18
1
1
19
1
44
4.3
0.0
8.7
0.0
39.1
2.2
2.2
41.3
2.2
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
19
7
1
11
2,496
754
30
1,712
0.18%
0.18%
168
108
36
99.2
108.6
0.7%
4.2%
102.2
9.5%
0.11%
0.12%
173
112
37
100.5
112.7
1.0%
5.4%
102.1
10.8%
1,704
87
3,866
110
0
0
0
0

* DATASTREAM
Table of Contents
Portugal
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
17,089
0
0
0
2,594
2,713
4,627
2,500
0
11,353
369
41,245
0
1,214
794
0
3,162
1,362
0
3,955
8,479
3,527
0
7,140
0
0
11,612
41,245
41.4
0.0
6.3
6.6
11.2
6.1
0.0
27.5
0.9
100.0
13
0
0
0
3
3
14
1
0
13
1
46
0.0
2.9
1.9
0.0
7.7
3.3
0.0
9.6
20.6
8.6
0.0
17.3
0.0
0.0
28.2
100.0
0
3
5
0
4
3
0
5
5
4
0
8
0
0
9
46
27.1
0.0
6.3
6.3
29.2
2.1
0.0
27.1
2.1
100.0
3,320
0
0
0
14
0
3,263
4,200
5
8,852
4,689
24,342
0.0
6.5
10.9
0.0
8.7
6.5
0.0
10.9
10.9
8.7
0.0
17.4
0.0
0.0
19.6
100.0
100
832
148
0
381
2,636
0
4,216
69
6,606
0
154
0
9,200
0
24,342
13.6
0.0
0.1
0.0
13.4
17.3
0.0
36.4
19.3
100.0
1
0
0
0
3
0
18
1
1
17
3
42
2.3
0.0
6.8
0.0
40.9
2.3
2.3
38.6
6.8
100.0
0.4
3.4
0.6
0.0
1.6
10.8
0.0
17.3
0.3
27.1
0.0
0.6
0.0
37.8
0.0
100.0
1
5
6
0
3
6
0
9
3
6
0
1
0
2
0
42
2.4
11.9
14.3
0.0
7.1
14.3
0.0
21.4
7.1
14.3
0.0
2.4
0.0
4.8
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Portugal
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
2,139
0
0
0
745
2,713
3,707
2,500
0
8,925
369
21,098
0
1,214
708
0
3,162
1,362
0
1,555
7,244
2,657
0
3,196
0
0
0
21,098
10.1
0.0
3.5
12.9
17.6
11.8
0.0
42.3
1.7
100.0
3
0
0
0
2
3
12
1
0
7
1
28
0.0
5.8
3.4
0.0
15.0
6.5
0.0
7.4
34.3
12.6
0.0
15.1
0.0
0.0
0.0
100.0
0
3
3
0
4
3
0
4
4
3
0
4
0
0
0
28
10.3
0.0
6.9
10.3
41.4
3.4
0.0
24.1
3.4
100.0
3,320
0
0
0
14
0
1,850
0
5
1,145
17
6,350
0.0
10.7
10.7
0.0
14.3
10.7
0.0
14.3
14.3
10.7
0.0
14.3
0.0
0.0
0.0
100.0
0
569
98
0
381
671
0
1,042
69
3,367
0
154
0
0
0
6,350
52.3
0.0
0.2
0.0
29.1
0.0
0.1
18.0
0.3
100.0
1
0
0
0
3
0
11
0
1
15
1
31
3.1
0.0
9.4
0.0
34.4
0.0
3.1
46.9
3.1
100.0
0.0
9.0
1.5
0.0
6.0
10.6
0.0
16.4
1.1
53.0
0.0
2.4
0.0
0.0
0.0
100.0
0
3
5
0
3
5
0
6
3
5
0
1
0
0
0
31
0.0
9.7
16.1
0.0
9.7
16.1
0.0
19.4
9.7
16.1
0.0
3.2
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Portugal
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
14,950
0
0
0
1,849
0
920
0
0
2,428
0
20,147
0
0
86
0
0
0
0
2,400
1,235
870
0
3,944
0
0
11,612
20,147
74.2
0.0
9.2
0.0
4.6
0.0
0.0
12.1
0.0
100.0
10
0
0
0
1
0
2
0
0
6
0
18
0.0
0.0
0.4
0.0
0.0
0.0
0.0
11.9
6.1
4.3
0.0
19.6
0.0
0.0
57.6
100.0
0
0
2
0
0
0
0
1
1
1
0
4
0
0
9
18
52.6
0.0
5.3
0.0
10.5
0.0
0.0
31.6
0.0
100.0
0
0
0
0
0
0
1,413
4,200
0
7,707
4,672
17,992
0.0
0.0
11.1
0.0
0.0
0.0
0.0
5.6
5.6
5.6
0.0
22.2
0.0
0.0
50.0
100.0
100
263
50
0
0
1,965
0
3,174
0
3,240
0
0
0
9,200
0
17,992
0.0
0.0
0.0
0.0
7.9
23.3
0.0
42.8
26.0
100.0
0
0
0
0
0
0
7
1
0
2
2
11
0.0
0.0
0.0
0.0
58.3
8.3
0.0
16.7
16.7
100.0
0.6
1.5
0.3
0.0
0.0
10.9
0.0
17.6
0.0
18.0
0.0
0.0
0.0
51.1
0.0
100.0
1
2
1
0
0
1
0
3
0
1
0
0
0
2
0
11
9.1
18.2
9.1
0.0
0.0
9.1
0.0
27.3
0.0
9.1
0.0
0.0
0.0
18.2
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
299,260
(15,575)
19,723
303,408
199,909
(11,198)
0
188,712
Amount
Amount
93,344
(52,194)
95
41,245
31,236
(8,876)
1,982
24,342
Table of Contents
Romania
Print

2009
2010
Amount
Amount
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
94,000
0
94,000
0
94,000
100.0
0.0
100.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
94,000
0
0
0
94,000
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
7,000
0
0
0
0
0
57,000
0
25,000
0.0
7.4
0.0
0.0
0.0
0.0
0.0
60.6
0.0
26.6
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
5,000
0
0
94,000
0.0
5.3
0.0
0.0
100.0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
92,000
0
92,000
2,000
0
94,000
97.9
0.0
97.9
2.1
0.0
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Romania
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Romania
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
10
527
0
537
38,796
0
22,041
21,500
82,875
0.0
0.6
0.0
0.6
46.8
0.0
26.6
25.9
100.0
1
1
0
2
10
0
2
4
18
5.6
5.6
0.0
11.1
55.6
0.0
11.1
22.2
100.0
0
0
0
0
28,338
0
12,000
40,000
80,338
0.0
0.0
0.0
0.0
35.3
0.0
14.9
49.8
100.0
0
0
0
0
9
0
1
1
11
0.0
0.0
0.0
0.0
81.8
0.0
9.1
9.1
100.0
0
0
2,700
6,255
1,350
6,000
2,099
3,000
1,000
8,566
18,523
32,701
680
0
0
82,875
6,000
0.0
0.0
3.3
7.5
1.6
7.2
2.5
3.6
1.2
10.3
22.4
39.5
0.8
0.0
0.0
100.0
7.2
0
0
1
2
2
1
1
2
1
3
2
2
1
0
0
18
1
0.0
0.0
5.6
11.1
11.1
5.6
5.6
11.1
5.6
16.7
11.1
11.1
5.6
0.0
0.0
100.0
5.6
0
0
0
693
12,000
0
3,140
10,933
0
7,800
5,772
40,000
0
0
0
80,338
0
0.0
0.0
0.0
0.9
14.9
0.0
3.9
13.6
0.0
9.7
7.2
49.8
0.0
0.0
0.0
100.0
0.0
0
0
0
1
1
0
1
4
0
2
1
1
0
0
0
11
0
0.0
0.0
0.0
9.1
9.1
0.0
9.1
36.4
0.0
18.2
9.1
9.1
0.0
0.0
0.0
100.0
0.0
81,875
1,000
82,875
98.8
1.2
100.0
17
1
18
94.4
5.6
100.0
68,733
11,605
80,338
85.6
14.4
100.0
8
3
11
72.7
27.3
100.0
46,051
36,824
55.6
44.4
6
12
33.3
66.7
14,860
65,478
18.5
81.5
4
9
30.8
69.2
0
82,875
46,051
0.0
100.0
55.6
0
18
6
0.0
100.0
33.3
0
80,338
66,860
0.0
100.0
83.2
0
11
6
0.0
100.0
54.5
79,875
3,000
0
82,875
96.4
3.6
0.0
100.0
16
2
0
18
88.9
11.1
0.0
100.0
75,678
0
4,660
80,338
94.2
0.0
5.8
100.0
10
0
1
11
90.9
0.0
9.1
100.0
3,000
0
0
3.6
0.0
0.0
2
0
0
11.1
0.0
0.0
4,660
0
0
5.8
0.0
0.0
1
0
0
9.1
0.0
0.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Bulgaria
Other Australasia
-
Table of Contents
Romania
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
21,500
0
0
0
21,500
100.0
0.0
0.0
0.0
100.0
4
0
0
0
4
100.0
0.0
0.0
0.0
100.0
0
40,000
0
0
40,000
0.0
100.0
0.0
0.0
100.0
0
1
0
0
1
0.0
100.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
77,940
4,935
0
82,875
94.0
6.0
0.0
100.0
16
2
0
18
88.9
11.1
0.0
100.0
77,198
3,140
0
80,338
96.1
3.9
0.0
100.0
10
1
0
11
90.9
9.1
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Romania
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
10
4,170
0
4,180
67,888
0
22,041
126,772
220,881
0.0
1.9
0.0
1.9
30.7
0.0
10.0
57.4
100.0
1
4
0
5
11
0
2
6
24
4.2
16.7
0.0
20.8
45.8
0.0
8.3
25.0
100.0
0
1,904
10,050
11,954
45,184
0
12,000
50,000
119,138
0.0
1.6
8.4
10.0
37.9
0.0
10.1
42.0
100.0
0
1
2
3
11
0
1
2
17
0.0
5.9
11.8
17.6
64.7
0.0
5.9
11.8
100.0
0
0
2,700
6,255
4,418
25,728
2,099
66,000
22,000
17,158
18,523
54,745
1,255
0
0
220,881
6,000
0.0
0.0
1.2
2.8
2.0
11.6
1.0
29.9
10.0
7.8
8.4
24.8
0.6
0.0
0.0
100.0
2.7
0
0
1
2
4
2
1
1
2
4
2
3
2
0
0
24
1
0.0
0.0
4.2
8.3
16.7
8.3
4.2
4.2
8.3
16.7
8.3
12.5
8.3
0.0
0.0
100.0
4.2
9,320
0
3,012
693
13,904
0
3,140
6,273
0
16,974
12,637
40,000
3,185
10,000
0
119,138
0
7.8
0.0
2.5
0.6
11.7
0.0
2.6
5.3
0.0
14.2
10.6
33.6
2.7
8.4
0.0
100.0
0.0
1
0
1
1
2
0
1
3
0
3
2
1
1
1
0
17
0
5.9
0.0
5.9
5.9
11.8
0.0
5.9
17.6
0.0
17.6
11.8
5.9
5.9
5.9
0.0
100.0
0.0
198,881
22,000
220,881
90.0
10.0
100.0
22
2
24
91.7
8.3
100.0
112,193
6,945
119,138
94.2
5.8
100.0
15
2
17
88.2
11.8
100.0
142,218
78,663
64.4
35.6
10
14
41.7
58.3
32,940
86,198
27.6
72.4
7
13
35.0
65.0
0
220,881
142,218
0.0
100.0
64.4
0
24
10
0.0
100.0
41.7
0
119,138
84,940
0.0
100.0
71.3
0
17
9
0.0
100.0
52.9
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Romania
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
41,044
85,728
0
0
126,772
32.4
67.6
0.0
0.0
100.0
4
2
0
0
6
66.7
33.3
0.0
0.0
100.0
10,000
40,000
0
0
50,000
20.0
80.0
0.0
0.0
100.0
1
1
0
0
2
50.0
50.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
0
0
0
3,078
0
0
0
0
527
0
0
575
0
0
4,180
0
0.0
0.0
0.0
0.0
73.6
0.0
0.0
0.0
0.0
12.6
0.0
0.0
13.8
0.0
0.0
100.0
0.0
0
0
0
0
3
0
0
0
0
1
0
0
1
0
0
5
0
0.0
0.0
0.0
0.0
60.0
0.0
0.0
0.0
0.0
20.0
0.0
0.0
20.0
0.0
0.0
100.0
0.0
0
0
0
0
1,904
0
0
0
0
0
6,865
0
3,185
0
0
11,954
0
0.0
0.0
0.0
0.0
15.9
0.0
0.0
0.0
0.0
0.0
57.4
0.0
26.6
0.0
0.0
100.0
0.0
0
0
0
0
1
0
0
0
0
0
1
0
1
0
0
3
0
0.0
0.0
0.0
0.0
33.3
0.0
0.0
0.0
0.0
0.0
33.3
0.0
33.3
0.0
0.0
100.0
0.0
0
0
2,700
6,255
1,340
25,728
2,099
66,000
22,000
16,631
18,523
54,745
680
0
0
216,701
6,000
0.0
0.0
1.2
2.9
0.6
11.9
1.0
30.5
10.2
7.7
8.5
25.3
0.3
0.0
0.0
100.0
2.8
0
0
1
2
1
2
1
1
2
3
2
3
1
0
0
19
1
0.0
0.0
5.3
10.5
5.3
10.5
5.3
5.3
10.5
15.8
10.5
15.8
5.3
0.0
0.0
100.0
5.3
9,320
0
3,012
693
12,000
0
3,140
6,273
0
16,974
5,772
40,000
0
10,000
0
107,184
0
8.7
0.0
2.8
0.6
11.2
0.0
2.9
5.9
0.0
15.8
5.4
37.3
0.0
9.3
0.0
100.0
0.0
1
0
1
1
1
0
1
3
0
3
1
1
0
1
0
14
0
7.1
0.0
7.1
7.1
7.1
0.0
7.1
21.4
0.0
21.4
7.1
7.1
0.0
7.1
0.0
100.0
0.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Romania
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
12,026
0
0
0
0
0
0
21,165
0
345
0
33,536
35.9
0.0
0.0
0.0
0.0
63.1
0.0
1.0
0.0
100.0
2
0
0
0
0
0
0
3
0
1
0
6
33.3
0.0
0.0
0.0
0.0
50.0
0.0
16.7
0.0
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Consumer prices (April previous year=100)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
4
2
1
1
215
11
0
204
0.19%
0.07%
118
86
9
100.4
138.6
10.4%
9.7%
155.1
6.3%
0.10%
0.07%
118
84
8
100.6
147.3
5.9%
7.3%
146.9
7.6%
609
51
239
56
0
0
0
0

* DATASTREAM
Table of Contents
Romania
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
0
6,916
0
3,455
1,229
11,600
0
3,455
0
0
0
6,916
0
0
0
0
0
0
1,229
0
0
11,600
0.0
0.0
0.0
0.0
0.0
59.6
0.0
29.8
10.6
100.0
0
0
0
0
0
0
0
1
0
1
2
4
0.0
29.8
0.0
0.0
0.0
59.6
0.0
0.0
0.0
0.0
0.0
0.0
10.6
0.0
0.0
100.0
0
1
0
0
0
1
0
0
0
0
0
0
2
0
0
4
0.0
0.0
0.0
0.0
0.0
25.0
0.0
25.0
50.0
100.0
1,000
0
0
0
0
0
0
21,165
0
895
0
23,060
0.0
25.0
0.0
0.0
0.0
25.0
0.0
0.0
0.0
0.0
0.0
0.0
50.0
0.0
0.0
100.0
0
345
0
0
0
0
0
0
1,550
6,200
0
14,965
0
0
0
23,060
4.3
0.0
0.0
0.0
0.0
91.8
0.0
3.9
0.0
100.0
1
0
0
0
0
0
0
3
0
2
0
6
16.7
0.0
0.0
0.0
0.0
50.0
0.0
33.3
0.0
100.0
0.0
1.5
0.0
0.0
0.0
0.0
0.0
0.0
6.7
26.9
0.0
64.9
0.0
0.0
0.0
100.0
0
1
0
0
0
0
0
0
2
2
0
1
0
0
0
6
0.0
16.7
0.0
0.0
0.0
0.0
0.0
0.0
33.3
33.3
0.0
16.7
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Romania
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
0
0
0
0
829
829
0
0
0
0
0
0
0
0
0
0
0
0
829
0
0
829
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
0
0
0
0
0
0
1
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
0
0
0
0
6,200
0
895
0
7,095
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
100.0
0
345
0
0
0
0
0
0
550
6,200
0
0
0
0
0
7,095
0.0
0.0
0.0
0.0
0.0
87.4
0.0
12.6
0.0
100.0
0
0
0
0
0
0
0
2
0
2
0
4
0.0
0.0
0.0
0.0
0.0
50.0
0.0
50.0
0.0
100.0
0.0
4.9
0.0
0.0
0.0
0.0
0.0
0.0
7.8
87.4
0.0
0.0
0.0
0.0
0.0
100.0
0
1
0
0
0
0
0
0
1
2
0
0
0
0
0
4
0.0
25.0
0.0
0.0
0.0
0.0
0.0
0.0
25.0
50.0
0.0
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Romania
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
0
6,916
0
3,455
400
10,771
0
3,455
0
0
0
6,916
0
0
0
0
0
0
400
0
0
10,771
0.0
0.0
0.0
0.0
0.0
64.2
0.0
32.1
3.7
100.0
0
0
0
0
0
0
0
1
0
1
1
3
0.0
32.1
0.0
0.0
0.0
64.2
0.0
0.0
0.0
0.0
0.0
0.0
3.7
0.0
0.0
100.0
0
1
0
0
0
1
0
0
0
0
0
0
1
0
0
3
0.0
0.0
0.0
0.0
0.0
33.3
0.0
33.3
33.3
100.0
1,000
0
0
0
0
0
0
14,965
0
0
0
15,965
0.0
33.3
0.0
0.0
0.0
33.3
0.0
0.0
0.0
0.0
0.0
0.0
33.3
0.0
0.0
100.0
0
0
0
0
0
0
0
0
1,000
0
0
14,965
0
0
0
15,965
6.3
0.0
0.0
0.0
0.0
93.7
0.0
0.0
0.0
100.0
1
0
0
0
0
0
0
1
0
0
0
2
50.0
0.0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
6.3
0.0
0.0
93.7
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
1
0
0
1
0
0
0
2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
50.0
0.0
0.0
50.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
82,875
(3,000)
141,006
220,881
80,338
(4,660)
43,460
119,138
Amount
Amount
0
(0)
11,600
11,600
33,536
(11,026)
550
23,060
Table of Contents
Spain
Print

2009
2010
Amount
Amount
385,460
301,810
687,270
3,490
690,760
55.8
43.7
99.5
0.5
100.0
393,610
383,230
776,840
0
776,840
50.7
49.3
100.0
0.0
100.0
125,600
0
49,060
174,660
105,990
211,000
0
199,110
690,760
18.2
0.0
7.1
25.3
15.3
30.5
0.0
28.8
100.0
71,340
0
343,100
414,440
85,500
149,000
0
127,900
776,840
9.2
0.0
44.2
53.3
11.0
19.2
0.0
16.5
100.0
0
304,890
39,900
0
0
58,000
110,500
86,870
0
22,830
0.0
44.4
5.8
0.0
0.0
8.4
16.1
12.6
0.0
3.3
500
91,660
0
1,010
0
165,720
500
355,800
7,000
6,600
0.1
11.8
0.0
0.1
0.0
21.3
0.1
45.8
0.9
0.8
5,000
11,010
0
48,270
687,270
0.7
1.6
0.0
7.0
100.0
0
15,850
0
132,200
776,840
0.0
2.0
0.0
17.0
100.0
616,900
505,270
111,630
19,500
50,870
687,270
89.8
73.5
16.2
2.8
7.4
100.0
629,020
609,940
19,080
620
147,200
776,840
81.0
78.5
2.5
0.1
18.9
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Spain
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
25,000
0
78,000
103,000
0
250,000
0
0
353,000
1
0
2
3
0
1
0
0
4
25,000
0
39,000
34,333
0
250,000
0
0
88,250
0
0
18,100
18,100
0
230,000
0
0
248,100
0
0
2
2
0
2
0
0
4
0
0
9,050
9,050
0
115,000
0
0
62,025
0
0
0
0
0
0
78,000
275,000
353,000
0
0
0
0
0
0
2
2
4
0
0
0
0
0
0
39,000
137,500
88,250
0
0
0
3,100
0
0
0
245,000
248,100
0
0
0
1
0
0
0
3
4
0
0
0
3,100
0
0
0
81,667
62,025
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
78,000
25,000
103,000
0
0
0
0
0
0
2
1
3
0
0
0
0
0
0
0
250,000
250,000
0
0
0
0
0
0
0
1
1
0
0
0
3,100
0
0
0
15,000
18,100
0
0
0
1
0
0
0
1
2
0
0
0
0
0
0
0
230,000
230,000
0
0
0
0
0
0
0
2
2

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Spain
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
3,980
42,960
94,480
141,420
385,706
4,700
58,174
323,468
913,468
0.4
4.7
10.3
15.5
42.2
0.5
6.4
35.4
100.0
8
50
59
117
24
1
2
20
163
4.9
30.5
36.0
71.3
14.6
0.6
1.2
12.2
100.0
976
46,299
58,535
105,811
428,138
643
59,163
1,876,387
2,470,141
0.0
1.9
2.4
4.3
17.3
0.0
2.4
76.0
100.0
8
43
35
86
42
2
6
24
159
5.0
26.9
21.9
53.8
26.3
1.3
3.8
15.0
100.0
12,900
134,483
43,568
6,985
22,004
29,092
8,024
338,561
170,938
42,023
0
90,887
0
14,004
0
913,468
121,922
1.4
14.7
4.8
0.8
2.4
3.2
0.9
37.1
18.7
4.6
0.0
9.9
0.0
1.5
0.0
100.0
13.3
4
22
15
5
20
21
5
14
16
6
0
31
0
4
0
163
50
2.5
13.5
9.2
3.1
12.3
12.9
3.1
8.6
9.8
3.7
0.0
19.0
0.0
2.5
0.0
100.0
30.7
26,212
167,843
63,654
4,907
387,047
27,819
43,800
174,777
283,010
22,088
7,400
181,266
105,143
975,177
0
2,470,141
51,868
1.1
6.8
2.6
0.2
15.7
1.1
1.8
7.1
11.5
0.9
0.3
7.3
4.3
39.5
0.0
100.0
2.1
4
23
9
4
31
16
2
16
13
6
1
26
2
6
0
159
29
2.5
14.5
5.7
2.5
19.5
10.1
1.3
10.1
8.2
3.8
0.6
16.4
1.3
3.8
0.0
100.0
18.2
679,728
233,740
913,468
74.4
25.6
100.0
114
52
163
68.7
31.3
100.0
1,206,035
1,264,106
2,470,141
48.8
51.2
100.0
109
50
159
68.6
31.4
100.0
646,275
264,692
70.7
29.0
96
69
57.8
41.6
1,712,118
758,023
69.3
30.7
92
71
56.4
43.6
2,500
913,468
756,349
0.3
100.0
82.8
1
163
111
0.6
100.0
68.1
0
2,470,141
2,109,394
0.0
100.0
85.4
0
159
111
0.0
100.0
69.8
881,183
27,336
4,949
913,468
96.5
3.0
0.5
100.0
154
7
2
163
94.5
4.3
1.2
100.0
2,445,575
6,715
17,851
2,470,141
99.0
0.3
0.7
100.0
146
6
7
159
91.8
3.8
4.4
100.0
19,644
5,524
4,949
2.2
0.6
0.5
2
3
2
1.2
1.8
1.2
13,146
4,705
4,335
0.5
0.2
0.2
5
2
3
3.1
1.3
1.9
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Portugal
Africa
United Kingdom
US
US
United Kingdom
Table of Contents
Spain
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
114,933
208,535
0
0
323,468
35.5
64.5
0.0
0.0
100.0
17
5
0
0
20
77.3
22.7
0.0
0.0
100.0
101,239
348,529
793,619
633,000
1,876,387
5.4
18.6
42.3
33.7
100.0
13
9
3
1
24
50.0
34.6
11.5
3.8
100.0
Amount
Number of
companies
Amount
Number of
companies
655,571
239,646
18,251
913,468
71.8
26.2
2.0
100.0
142
13
9
163
86.6
7.9
5.5
100.0
2,294,600
150,408
25,133
2,470,141
92.9
6.1
1.0
100.0
137
16
12
159
83.0
9.7
7.3
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Spain
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
3,980
57,025
111,272
172,277
444,958
4,700
97,417
374,064
1,093,417
0.4
5.2
10.2
15.8
40.7
0.4
8.9
34.2
100.0
8
56
60
122
29
1
3
23
176
4.4
31.1
33.3
68.9
16.1
0.6
1.7
12.8
100.0
976
50,631
65,120
116,728
481,707
643
229,167
2,097,819
2,926,064
0.0
2
2.2
4.0
16.5
0.0
7.8
71.7
100.0
8
42
35
84
40
2
10
27
160
4.9
25.6
21.3
51.8
24.4
1.2
6.1
16.5
100.0
12,900
165,833
42,083
6,985
50,012
52,077
2,024
354,702
213,822
42,133
450
136,393
0
14,004
0
1,093,417
118,838
1.2
15.2
3.8
0.6
4.6
4.8
0.2
32.4
19.6
3.9
0.0
12.5
0.0
1.3
0.0
100.0
10.9
4
25
14
5
25
22
4
17
17
8
1
30
0
4
0
176
48
2.3
14.2
8.0
2.8
14.2
12.5
2.3
9.7
9.7
4.5
0.6
17.0
0.0
2.3
0.0
100.0
27.3
26,819
167,910
63,504
4,907
573,539
40,425
43,800
215,277
278,843
22,088
7,400
182,232
105,143
1,194,177
0
2,926,064
94,802
0.9
5.7
2.2
0.2
19.6
1.4
1.5
7.4
9.5
0.8
0.3
6.2
3.6
40.8
0.0
100.0
3.2
4
23
8
4
30
20
2
15
12
6
1
26
2
7
0
160
30
2.5
14.4
5.0
2.5
18.8
12.5
1.3
9.4
7.5
3.8
0.6
16.3
1.3
4.4
0.0
100.0
18.8
767,584
325,833
1,093,417
70.2
29.8
100.0
122
58
176
67.8
32.2
100.0
1,467,238
1,458,826
2,926,064
50.1
49.9
100.0
111
53
160
67.7
32.3
100.0
703,095
380,822
64.3
34.8
97
81
53.9
45.0
1,781,316
1,144,748
60.9
39.1
89
75
54.3
45.7
9,500
1,093,417
884,203
0.9
100.0
80.9
2
176
113
1.1
100.0
64.2
0
2,926,064
2,479,665
0.0
100.0
84.7
0
160
109
0.0
100.0
68.1
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Spain
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
118,949
255,115
0
0
374,064
31.8
68.2
0.0
0.0
100.0
18
7
0
0
23
72.0
28.0
0.0
0.0
100.0
108,671
363,529
992,619
633,000
2,097,819
5.2
17.3
47.3
30.2
100.0
16
10
4
1
27
51.6
32.3
12.9
3.2
100.0
Amount
Number of
companies
Amount
Number of
companies
6,900
31,847
5,570
4,220
47,742
18,047
2,024
7,943
9,350
3,410
0
34,916
0
308
0
172,277
58,605
4.0
18.5
3.2
2.4
27.7
10.5
1.2
4.6
5.4
2.0
0.0
20.3
0.0
0.2
0.0
100.0
34.0
3
15
7
3
23
18
4
7
8
6
0
26
0
2
0
122
41
2.5
12.3
5.7
2.5
18.9
14.8
3.3
5.7
6.6
4.9
0.0
21.3
0.0
1.6
0.0
100.0
33.6
2,000
14,689
900
1,483
27,923
25,722
0
7,350
5,665
4,629
0
25,166
0
1,200
0
116,728
41,750
1.7
12.6
0.8
1.3
23.9
22.0
0.0
6.3
4.9
4.0
0.0
21.6
0.0
1.0
0.0
100.0
35.8
1
12
2
1
23
18
0
5
3
3
0
15
0
1
0
84
27
1.2
14.3
2.4
1.2
27.4
21.4
0.0
6.0
3.6
3.6
0.0
17.9
0.0
1.2
0.0
100.0
32.1
6,000
133,986
36,513
2,765
2,270
34,030
0
346,759
204,472
38,723
450
101,477
0
13,696
0
921,140
60,233
0.7
14.5
4.0
0.3
0.2
3.7
0.0
37.6
22.2
4.2
0.0
11.0
0.0
1.5
0.0
100.0
6.5
1
10
7
2
2
5
0
10
9
2
1
4
0
2
0
55
8
1.8
18.2
12.7
3.6
3.6
9.1
0.0
18.2
16.4
3.6
1.8
7.3
0.0
3.6
0.0
100.0
14.5
24,819
153,221
62,604
3,424
545,616
14,703
43,800
207,927
273,178
17,459
7,400
157,066
105,143
1,192,977
0
2,809,336
53,052
0.9
5.5
2.2
0.1
19.4
0.5
1.6
7.4
9.7
0.6
0.3
5.6
3.7
42.5
0.0
100.0
1.9
3
11
6
3
8
3
2
10
9
3
1
11
2
6
0
78
3
3.8
14.1
7.7
3.8
10.3
3.8
2.6
12.8
11.5
3.8
1.3
14.1
2.6
7.7
0.0
100.0
3.8

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Spain
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
16,500
6,490
0
6,490
250,899
0
18,386
13,318
27,921
75,258
63,923
472,695
3.5
1.4
53.1
0.0
3.9
2.8
5.9
15.9
13.5
100.0
3
1
0
1
7
0
5
4
2
13
8
39
7.0
2.3
16.3
0.0
11.6
9.3
4.7
30.2
18.6
100.0
251,663
2,276
0
2,276
52,834
5,700
567
104,064
0
64,813
7,478
489,395
51.4
0.5
10.8
1.2
0.1
21.3
0.0
13.2
1.5
100.0
17
2
0
2
5
1
2
6
0
6
5
42
38.6
4.5
11.4
2.3
4.5
13.6
0.0
13.6
11.4
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
121
62
33
26
15,487
2,785
7,670
5,032
0.10%
0.09%
1,054
587
223
106.7
112.4
0.7%
4.0%
101.0
18.0%
0.28%
0.23%
1,063
610
221
108.6
115.9
1.0%
4.3%
100.7
20.1%
64,821
716
37,600
805
0
0
1,486
9

* DATASTREAM
Table of Contents
Spain
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
68,479
8,773
0
8,773
250,899
0
18,386
21,963
27,921
75,258
63,923
535,602
0
6,428
150,176
0
15,287
67,391
4,213
94,942
37,895
22,122
0
9,360
0
75,809
51,979
535,602
12.8
1.6
46.8
0.0
3.4
4.1
5.2
14.1
11.9
100.0
4
2
0
2
7
0
5
5
2
13
8
42
0.0
1.2
28.0
0.0
2.9
12.6
0.8
17.7
7.1
4.1
0.0
1.7
0.0
14.2
9.7
100.0
0
2
8
0
3
7
3
3
4
4
0
2
0
5
1
42
8.7
4.3
15.2
0.0
10.9
10.9
4.3
28.3
17.4
100.0
246,091
142,526
139,933
2,593
177,434
5,700
28,254
272,284
0
69,394
7,461
949,144
0.0
4.8
19.0
0.0
7.1
16.7
7.1
7.1
9.5
9.5
0.0
4.8
0.0
11.9
2.4
100.0
3,458
85,986
17,520
30,615
39,014
180,723
117,775
107,440
162,345
3,994
0
21,645
0
178,630
0
949,144
25.9
15.0
18.7
0.6
3.0
28.7
0.0
7.3
0.8
100.0
16
4
1
3
8
1
3
8
0
7
4
48
31.4
7.8
15.7
2.0
5.9
15.7
0.0
13.7
7.8
100.0
0.4
9.1
1.8
3.2
4.1
19.0
12.4
11.3
17.1
0.4
0.0
2.3
0.0
18.8
0.0
100.0
1
4
1
2
7
5
3
9
3
2
0
6
0
5
0
48
2.1
8.3
2.1
4.2
14.6
10.4
6.3
18.8
6.3
4.2
0.0
12.5
0.0
10.4
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Spain
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
500
2,283
0
2,283
10,592
0
0
18,373
27,921
7,819
39,476
106,964
0
6,000
2,629
0
15,287
45,001
0
845
429
500
0
6,100
0
30,173
0
106,964
0.5
2.1
9.9
0.0
0.0
17.2
26.1
7.3
36.9
100.0
1
1
0
1
4
0
0
5
2
6
3
21
0.0
5.6
2.5
0.0
14.3
42.1
0.0
0.8
0.4
0.5
0.0
5.7
0.0
28.2
0.0
100.0
0
1
5
0
3
5
0
1
2
1
0
1
0
2
0
21
4.5
4.5
18.2
0.0
0.0
22.7
9.1
27.3
13.6
100.0
106,191
0
0
0
31,769
0
1,038
7,625
0
150
1,320
148,093
0.0
4.8
23.8
0.0
14.3
23.8
0.0
4.8
9.5
4.8
0.0
4.8
0.0
9.5
0.0
100.0
0
81,932
0
1,100
25,524
7,473
0
0
2,200
1,994
0
1,070
0
26,800
0
148,093
71.7
0.0
21.5
0.0
0.7
5.1
0.0
0.1
0.9
100.0
9
0
0
0
4
0
1
3
0
1
2
20
45.0
0.0
20.0
0.0
5.0
15.0
0.0
5.0
10.0
100.0
0.0
55.3
0.0
0.7
17.2
5.0
0.0
0.0
1.5
1.3
0.0
0.7
0.0
18.1
0.0
100.0
0
2
0
1
6
3
0
0
1
1
0
5
0
1
0
20
0.0
10.0
0.0
5.0
30.0
15.0
0.0
0.0
5.0
5.0
0.0
25.0
0.0
5.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Spain
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
67,979
6,490
0
6,490
240,307
0
18,386
3,590
0
67,439
24,447
428,638
0
428
147,547
0
0
22,389
4,213
94,097
37,466
21,622
0
3,260
0
45,636
51,979
428,638
15.9
1.5
56.1
0.0
4.3
0.8
0.0
15.7
5.7
100.0
3
1
0
1
3
0
5
1
0
7
5
23
0.0
0.1
34.4
0.0
0.0
5.2
1.0
22.0
8.7
5.0
0.0
0.8
0.0
10.6
12.1
100.0
0
1
3
0
0
4
3
2
2
3
0
1
0
3
1
23
12.0
4.0
12.0
0.0
20.0
4.0
0.0
28.0
20.0
100.0
139,900
142,526
139,933
2,593
145,665
5,700
27,216
264,659
0
69,244
6,141
801,050
0.0
4.3
13.0
0.0
0.0
17.4
13.0
8.7
8.7
13.0
0.0
4.3
0.0
13.0
4.3
100.0
3,458
4,054
17,520
29,515
13,490
173,250
117,775
107,440
160,145
2,000
0
20,575
0
151,830
0
801,050
17.5
17.8
18.2
0.7
3.4
33.0
0.0
8.6
0.8
100.0
8
4
1
3
4
1
2
5
0
6
2
29
25.0
12.5
12.5
3.1
6.3
15.6
0.0
18.8
6.3
100.0
0.4
0.5
2.2
3.7
1.7
21.6
14.7
13.4
20.0
0.2
0.0
2.6
0.0
19.0
0.0
100.0
1
2
1
1
2
2
3
9
2
1
0
1
0
4
0
29
3.4
6.9
3.4
3.4
6.9
6.9
10.3
31.0
6.9
3.4
0.0
3.4
0.0
13.8
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
913,468
(32,285)
212,234
1,093,417
2,470,141
(24,566)
480,489
2,926,064
Amount
Amount
472,695
(0)
62,906
535,602
489,395
(37,418)
497,167
949,144
Table of Contents
Sweden
Print

2009
2010
Amount
Amount
427,610
394,440
822,050
4,840
826,890
51.7
47.7
99.4
0.6
100.0
772,650
17,540
790,190
1,160
791,350
97.6
2.2
99.9
0.1
100.0
32,920
65,160
354,700
452,780
0
285,490
0
88,620
826,890
4.0
7.9
42.9
54.8
0.0
34.5
0.0
10.7
100.0
9,040
19,530
2,950
31,520
162,000
583,370
0
14,460
791,350
1.1
2.5
0.4
4.0
20.5
73.7
0.0
1.8
100.0
1,510
58,700
134,390
29,930
10,070
4,000
24,470
458,220
5,950
20,700
0.2
7.1
16.3
3.6
1.2
0.5
3.0
55.7
0.7
2.5
0
0
305,870
46,450
0
0
345,700
49,940
0
0
0.0
0.0
38.7
5.9
0.0
0.0
43.7
6.3
0.0
0.0
25,840
8,380
0
39,890
822,050
3.1
1.0
0.0
4.9
100.0
35,400
4,090
0
2,740
790,190
4.5
0.5
0.0
0.3
100.0
769,370
619,950
149,420
16,390
36,290
822,050
93.6
75.4
18.2
2.0
4.4
100.0
692,670
391,370
301,300
95,280
2,240
790,190
87.6
49.5
38.1
12.1
0.3
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Sweden
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
19,560
19,560
0
139,000
0
0
158,560
0
0
1
1
0
1
0
0
2
0
0
19,560
19,560
0
139,000
0
0
79,280
18,570
0
0
18,570
162,000
337,460
0
0
518,030
2
0
0
2
1
2
0
0
5
9,285
0
0
9,285
162,000
168,730
0
0
103,606
0
0
0
0
0
0
0
158,560
158,560
0
0
0
0
0
0
0
2
2
0
0
0
0
0
0
0
79,280
79,280
0
0
0
162,000
0
0
0
356,030
518,030
0
0
0
1
0
0
0
4
5
0
0
0
162,000
0
0
0
89,008
103,606
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
19,560
19,560
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
139,000
139,000
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
18,570
18,570
0
0
0
0
0
0
0
2
2
0
0
0
162,000
0
0
0
337,460
499,460
0
0
0
1
0
0
0
2
3

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Sweden
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
5,776
112,508
92,033
210,317
213,466
29,858
127,499
680,144
1,261,284
0.5
8.9
7.3
16.7
16.9
2.4
10.1
53.9
100.0
35
207
51
286
48
9
9
34
379
8.9
52.7
13.0
74.6
12.2
2.3
2.3
8.7
100.0
10,376
124,033
90,384
224,792
503,352
1,120
69,791
2,295,034
3,094,089
0.3
4.0
2.9
7.3
16.3
0.0
2.3
74.2
100.0
10
255
57
312
54
2
5
53
425
2.3
58.5
13.1
73.9
12.4
0.5
1.1
12.2
100.0
0
209,007
65,012
85,147
61,638
76,425
61,443
49,477
48,555
48,256
112,625
375,188
0
33,859
34,651
1,261,284
137,874
0.0
16.6
5.2
6.8
4.9
6.1
4.9
3.9
3.8
3.8
8.9
29.7
0.0
2.7
2.7
100.0
10.9
0
44
21
11
40
70
3
15
10
26
10
116
0
6
7
379
111
0.0
11.6
5.5
2.9
10.6
18.5
0.8
4.0
2.6
6.9
2.6
30.6
0.0
1.6
1.8
100.0
29.3
7,705
69,417
133,794
177,765
239,979
268,477
120,130
726,212
190,048
438,947
31,277
669,816
0
20,290
233
3,094,089
152,298
0.2
2.2
4.3
5.7
7.8
8.7
3.9
23.5
6.1
14.2
1.0
21.6
0.0
0.7
0.0
100.0
4.9
3
40
15
12
46
83
6
27
14
40
7
122
0
5
5
425
111
0.7
9.4
3.5
2.8
10.8
19.5
1.4
6.4
3.3
9.4
1.6
28.7
0.0
1.2
1.2
100.0
26.1
975,935
285,348
1,261,284
77.4
22.6
100.0
259
141
379
64.8
35.3
100.0
2,260,560
833,529
3,094,089
73.1
26.9
100.0
279
163
425
63.1
36.9
100.0
563,712
695,691
44.7
55.2
118
258
30.6
66.8
1,421,752
1,274,226
46.0
41.2
149
283
34.1
64.8
1,881
1,261,284
675,616
0.1
100.0
53.6
10
379
145
2.6
100.0
38.3
398,111
3,094,089
1,902,553
12.9
100.0
61.5
5
425
178
1.1
100.0
41.9
819,480
414,662
27,142
1,261,284
65.0
32.9
2.2
100.0
331
33
15
379
87.3
8.7
4.0
100.0
2,176,541
874,018
43,530
3,094,089
70.3
28.2
1.4
100.0
366
45
14
425
86.1
10.6
3.3
100.0
338,120
58,967
9,657
26.8
4.7
0.8
12
10
2
3.2
2.6
0.5
388,492
234,408
150,000
12.6
7.6
4.8
11
16
1
2.6
3.8
0.2
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Finland
Norway
Norway
Finland
India
Poland
Table of Contents
Sweden
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
199,840
278,348
201,956
0
680,144
29.4
40.9
29.7
0.0
100.0
26
8
1
0
34
74.3
22.9
2.9
0.0
100.0
199,186
1,010,409
718,784
366,655
2,295,034
8.7
44.0
31.3
16.0
100.0
31
19
4
1
53
56.4
34.5
7.3
1.8
100.0
Amount
Number of
companies
Amount
Number of
companies
1,196,167
29,926
35,191
1,261,284
94.8
2.4
2.8
100.0
331
28
43
379
82.3
7.0
10.7
100.0
2,969,178
66,733
58,178
3,094,089
96.0
2.2
1.9
100.0
364
42
41
425
81.4
9.4
9.2
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Sweden
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
5,804
105,108
95,779
206,691
236,357
30,649
73,270
532,479
1,079,446
0.5
9.7
8.9
19.1
21.9
2.8
6.8
49.3
100.0
36
203
50
279
32
11
10
39
359
9.4
53.3
13.1
75.9
8.4
2.9
2.6
10.2
100.0
4,603
127,427
101,951
233,980
343,362
1,120
2,303
2,103,536
2,684,301
0.2
4.7
3.8
8.7
12.8
0.0
0.1
78.4
100.0
9
241
54
293
46
2
3
48
390
2.2
59.8
13.4
75.4
11.4
0.5
0.7
11.9
100.0
0
143,906
89,667
230,808
42,661
84,532
57,804
49,211
22,385
51,573
100,947
137,441
0
33,859
34,651
1,079,446
143,040
0.0
13.3
8.3
21.4
4.0
7.8
5.4
4.6
2.1
4.8
9.4
12.7
0.0
3.1
3.2
100.0
13.3
0
50
21
9
39
70
2
14
8
26
5
102
0
6
7
359
108
0.0
13.9
5.8
2.5
10.9
19.5
0.6
3.9
2.2
7.2
1.4
28.4
0.0
1.7
1.9
100.0
30.1
7,705
59,819
123,927
187,056
82,099
183,026
61,741
336,734
274,917
410,763
22,925
913,065
0
20,290
233
2,684,301
199,657
0.3
2.2
4.6
7.0
3.1
6.8
2.3
12.5
10.2
15.3
0.9
34.0
0.0
0.8
0.0
100.0
7.4
3
38
14
12
47
81
4
20
14
37
5
105
0
5
5
390
109
0.8
9.7
3.6
3.1
12.1
20.8
1.0
5.1
3.6
9.5
1.3
26.9
0.0
1.3
1.3
100.0
27.9
776,370
303,075
1,079,446
71.9
28.1
100.0
250
134
359
65.1
34.9
100.0
1,653,066
1,031,235
2,684,301
61.6
38.4
100.0
258
151
390
63.1
36.9
100.0
340,378
737,500
31.5
68.3
115
242
31.3
65.9
912,105
1,374,085
34.0
51.2
132
268
32.6
66.2
1,567
1,079,446
483,858
0.1
100.0
44.8
10
359
142
2.7
100.0
39.6
398,111
2,684,301
1,805,126
14.8
100.0
67.2
5
390
168
1.2
100.0
43.1
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Sweden
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
219,868
312,610
0
0
532,479
41.3
58.7
0.0
0.0
100.0
30
9
0
0
39
76.9
23.1
0.0
0.0
100.0
171,900
986,835
578,146
366,655
2,103,536
8.2
46.9
27.5
17.4
100.0
30
17
2
1
48
60.0
34.0
4.0
2.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
8,264
5,026
3,856
19,561
52,674
0
2,102
1,080
46,978
947
63,703
0
2,102
398
206,691
103,710
0.0
4.0
2.4
1.9
9.5
25.5
0.0
1.0
0.5
22.7
0.5
30.8
0.0
1.0
0.2
100.0
50.2
0
29
11
6
34
64
0
9
4
24
2
89
0
4
3
279
102
0.0
10.4
3.9
2.2
12.2
22.9
0.0
3.2
1.4
8.6
0.7
31.9
0.0
1.4
1.1
100.0
36.6
518
11,249
1,117
6,511
28,602
88,080
0
2,876
786
29,137
3,619
60,401
0
849
233
233,980
126,523
0.2
4.8
0.5
2.8
12.2
37.6
0.0
1.2
0.3
12.5
1.5
25.8
0.0
0.4
0.1
100.0
54.1
1
27
8
10
38
72
0
6
4
31
3
85
0
3
5
293
101
0.3
9.2
2.7
3.4
13.0
24.6
0.0
2.0
1.4
10.6
1.0
29.0
0.0
1.0
1.7
100.0
34.5
0
135,642
84,641
226,952
23,100
31,859
57,804
47,109
21,304
4,595
99,999
73,738
0
31,757
34,253
872,755
39,330
0.0
15.5
9.7
26.0
2.6
3.7
6.6
5.4
2.4
0.5
11.5
8.4
0.0
3.6
3.9
100.0
4.5
0
21
10
3
6
7
2
5
4
3
3
15
0
2
4
85
9
0.0
24.7
11.8
3.5
7.1
8.2
2.4
5.9
4.7
3.5
3.5
17.6
0.0
2.4
4.7
100.0
10.6
7,187
48,571
122,810
180,545
53,497
94,946
61,741
333,858
274,130
381,626
19,306
852,664
0
19,441
0
2,450,321
73,134
0.3
2.0
5.0
7.4
2.2
3.9
2.5
13.6
11.2
15.6
0.8
34.8
0.0
0.8
0.0
100.0
3.0
2
11
6
2
9
9
4
14
10
6
2
20
0
2
0
97
8
2.1
11.3
6.2
2.1
9.3
9.3
4.1
14.4
10.3
6.2
2.1
20.6
0.0
2.1
0.0
100.0
8.2

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Sweden
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
213,061
18,314
216
18,098
317,958
0
7,293
20,637
658
31,112
12,620
621,653
34.3
2.9
51.1
0.0
1.2
3.3
0.1
5.0
2.0
100.0
25
9
1
8
19
0
4
9
1
12
7
84
29.1
10.5
22.1
0.0
4.7
10.5
1.2
14.0
8.1
100.0
144,873
115,608
58,825
56,783
176,883
8,200
27,588
121,912
104,516
77,055
23,395
800,028
18.1
14.5
22.1
1.0
3.4
15.2
13.1
9.6
2.9
100.0
21
14
3
11
6
1
3
14
7
5
9
79
26.3
17.5
7.5
1.3
3.8
17.5
8.8
6.3
11.3
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
130
68
33
29
35,876
4,449
29,510
1,917
0.38%
0.44%
284
140
79
299.7
115.0
0.5%
3.3%
121.0
8.3%
0.78%
0.89%
346
168
94
303.5
116.2
2.0%
2.9%
125.5
8.4%
5,795
492
10,821
637
0
0
263
23

* DATASTREAM
Table of Contents
Sweden
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
108,528
14,303
216
14,087
344,848
0
7,293
19,823
658
29,093
3,033
527,579
0
170,149
37,808
0
11,457
91,952
76,615
10,327
81
44,517
6,536
74,835
0
3,301
0
527,579
20.6
2.7
65.4
0.0
1.4
3.8
0.1
5.5
0.6
100.0
26
6
1
5
15
0
4
7
1
9
3
70
0.0
32.3
7.2
0.0
2.2
17.4
14.5
2.0
0.0
8.4
1.2
14.2
0.0
0.6
0.0
100.0
0
7
3
0
10
12
1
1
1
4
2
28
0
1
0
70
36.6
8.5
21.1
0.0
5.6
9.9
1.4
12.7
4.2
100.0
135,037
127,245
58,825
68,420
14,557
8,200
8,180
186,006
89,084
77,054
23,395
668,756
0.0
10.0
4.3
0.0
14.3
17.1
1.4
1.4
1.4
5.7
2.9
40.0
0.0
1.4
0.0
100.0
0
116,205
45,392
17
1,118
26,084
15,820
160,222
70,124
881
10,194
222,698
0
0
0
668,756
20.2
19.0
2.2
1.2
1.2
27.8
13.3
11.5
3.5
100.0
20
14
3
11
6
1
1
20
4
4
9
77
25.3
17.7
7.6
1.3
1.3
25.3
5.1
5.1
11.4
100.0
0.0
17.4
6.8
0.0
0.2
3.9
2.4
24.0
10.5
0.1
1.5
33.3
0.0
0.0
0.0
100.0
0
7
5
1
2
10
1
15
4
4
2
26
0
0
0
77
0.0
9.1
6.5
1.3
2.6
13.0
1.3
19.5
5.2
5.2
2.6
33.8
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Sweden
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
45,956
14,303
216
14,087
28,547
0
642
7,378
658
3,196
2,952
103,632
0
0
3,074
0
4,157
26,268
0
0
0
7,919
0
62,214
0
0
0
103,632
44.3
13.8
27.5
0.0
0.6
7.1
0.6
3.1
2.8
100.0
18
6
1
5
9
0
1
3
1
3
2
42
0.0
0.0
3.0
0.0
4.0
25.3
0.0
0.0
0.0
7.6
0.0
60.0
0.0
0.0
0.0
100.0
0
0
1
0
7
7
0
0
0
2
0
25
0
0
0
42
41.9
14.0
20.9
0.0
2.3
7.0
2.3
7.0
4.7
100.0
20,263
42,267
0
42,267
9,075
0
0
15,664
7,768
195
19,248
114,480
0.0
0.0
2.4
0.0
16.7
16.7
0.0
0.0
0.0
4.8
0.0
59.5
0.0
0.0
0.0
100.0
0
2,153
2,650
17
1,118
18,031
0
4,278
0
531
0
85,702
0
0
0
114,480
17.7
36.9
7.9
0.0
0.0
13.7
6.8
0.2
16.8
100.0
10
8
0
8
5
0
0
7
3
2
6
39
24.4
19.5
12.2
0.0
0.0
17.1
7.3
4.9
14.6
100.0
0.0
1.9
2.3
0.0
1.0
15.8
0.0
3.7
0.0
0.5
0.0
74.9
0.0
0.0
0.0
100.0
0
1
1
1
2
8
0
3
0
3
0
20
0
0
0
39
0.0
2.6
2.6
2.6
5.1
20.5
0.0
7.7
0.0
7.7
0.0
51.3
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Sweden
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
62,572
0
0
0
316,301
0
6,651
12,445
0
25,897
81
423,948
0
170,149
34,734
0
7,300
65,684
76,615
10,327
81
36,599
6,536
12,621
0
3,301
0
423,948
14.8
0.0
74.6
0.0
1.6
2.9
0.0
6.1
0.0
100.0
8
0
0
0
6
0
3
4
0
6
1
28
0.0
40.1
8.2
0.0
1.7
15.5
18.1
2.4
0.0
8.6
1.5
3.0
0.0
0.8
0.0
100.0
0
7
2
0
3
5
1
1
1
2
2
3
0
1
0
28
28.6
0.0
21.4
0.0
10.7
14.3
0.0
21.4
3.6
100.0
114,774
84,978
58,825
26,153
5,481
8,200
8,180
170,342
81,316
76,860
4,146
554,276
0.0
25.0
7.1
0.0
10.7
17.9
3.6
3.6
3.6
7.1
7.1
10.7
0.0
3.6
0.0
100.0
0
114,052
42,742
0
0
8,053
15,820
155,944
70,124
350
10,194
136,996
0
0
0
554,276
20.7
15.3
1.0
1.5
1.5
30.7
14.7
13.9
0.7
100.0
10
6
3
3
1
1
1
13
1
2
3
38
26.3
15.8
2.6
2.6
2.6
34.2
2.6
5.3
7.9
100.0
0.0
20.6
7.7
0.0
0.0
1.5
2.9
28.1
12.7
0.1
1.8
24.7
0.0
0.0
0.0
100.0
0
6
4
0
0
2
1
12
4
1
2
6
0
0
0
38
0.0
15.8
10.5
0.0
0.0
5.3
2.6
31.6
10.5
2.6
5.3
15.8
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
1,261,284
(441,804)
259,966
1,079,446
3,094,089
(917,548)
507,760
2,684,301
Amount
Amount
621,653
(220,656)
126,582
527,579
800,028
(220,656)
89,384
668,756
Table of Contents
Switzerland
Print

2009
2010
Amount
Amount
866,810
40,000
906,810
0
906,810
95.6
4.4
100.0
0.0
100.0
633,930
4,310
638,240
0
638,240
99.3
0.7
100.0
0.0
100.0
508,250
46,500
98,090
652,840
0
71,420
182,550
0
906,810
56.0
5.1
10.8
72.0
0.0
7.9
20.1
0.0
100.0
0
27,210
4,360
31,570
0
460,610
146,060
0
638,240
0.0
4.3
0.7
4.9
0.0
72.2
22.9
0.0
100.0
0
16,110
0
110,500
129,210
22,930
129,270
12,070
51,140
6,750
0.0
1.8
0.0
12.2
14.2
2.5
14.3
1.3
5.6
0.7
0
51,310
0
4,310
0
10,690
0
1,510
106,060
0
0.0
8.0
0.0
0.7
0.0
1.7
0.0
0.2
16.6
0.0
269,650
63,620
0
95,560
906,810
29.7
7.0
0.0
10.5
100.0
343,340
48,530
0
72,490
638,240
53.8
7.6
0.0
11.4
100.0
546,320
178,360
367,960
236,930
123,560
906,810
60.2
19.7
40.6
26.1
13.6
100.0
512,620
97,230
415,390
122,400
3,220
638,240
80.3
15.2
65.1
19.2
0.5
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Switzerland
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
449,570
0
202,150
651,720
0
0
0
0
651,720
2
0
3
5
0
0
0
0
5
224,785
0
67,383
130,344
0
0
0
0
130,344
0
1,510
0
1,510
0
657,170
553,660
0
1,212,340
0
1
0
1
0
1
1
0
3
0
1,510
0
1,510
0
657,170
553,660
0
404,113
0
0
0
0
0
378,000
139,070
134,650
651,720
0
0
0
0
0
1
2
2
5
0
0
0
0
0
378,000
69,535
67,325
130,344
0
0
0
0
0
0
0
1,212,340
1,212,340
0
0
0
0
0
0
0
3
3
0
0
0
0
0
0
0
404,113
404,113
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
378,000
139,070
134,650
651,720
0
0
0
0
0
1
2
2
5
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,510
1,510
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
1,210,830
1,210,830
0
0
0
0
0
0
0
2
2

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Switzerland
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
8,076
195,532
128,868
332,477
90,122
43,000
595
252,526
718,719
1.1
27.2
17.9
46.3
12.5
6.0
0.1
35.1
100.0
21
67
47
132
20
1
1
23
177
11.7
37.2
26.1
75.0
11.1
0.6
0.6
12.8
100.0
7,198
118,746
79,790
205,734
69,963
469
37,400
1,196,203
1,509,769
0.5
7.9
5.3
13.6
4.6
0.0
2.5
79.2
100.0
21
71
40
131
8
4
3
9
155
13.5
45.5
25.6
84.6
5.1
2.6
1.9
5.8
100.0
0
43,664
64,198
821
23,331
25,877
22,327
21,373
21,836
55,279
0
345,998
0
88,933
5,083
718,719
171,915
0.0
6.1
8.9
0.1
3.2
3.6
3.1
3.0
3.0
7.7
0.0
48.1
0.0
12.4
0.7
100.0
23.9
0
11
4
4
23
15
2
8
5
17
0
73
0
5
10
177
73
0.0
6.2
2.3
2.3
13.0
8.5
1.1
4.5
2.8
9.6
0.0
41.2
0.0
2.8
5.6
100.0
41.2
0
121,725
5,860
1,155
890,979
32,906
645
126,584
0
21,767
0
308,147
0
0
0
1,509,769
422,922
0.0
8.1
0.4
0.1
59.0
2.2
0.0
8.4
0.0
1.4
0.0
20.4
0.0
0.0
0.0
100.0
28.0
0
13
3
4
27
30
1
8
0
15
0
54
0
0
0
155
80
0.0
8.4
1.9
2.6
17.4
19.4
0.6
5.2
0.0
9.7
0.0
34.8
0.0
0.0
0.0
100.0
51.6
285,740
432,980
718,719
39.8
60.2
100.0
82
96
177
46.1
53.9
100.0
1,167,147
342,622
1,509,769
77.3
22.7
100.0
58
102
155
36.3
63.8
100.0
211,226
499,287
29.4
69.5
62
115
34.6
64.2
985,555
524,214
65.3
34.7
52
103
33.5
66.5
8,206
718,719
366,115
1.1
100.0
50.9
2
177
81
1.1
100.0
45.8
0
1,509,769
1,329,873
0.0
100.0
88.1
0
155
83
0.0
100.0
53.5
211,816
382,731
124,173
718,719
29.5
53.3
17.3
100.0
66
78
33
177
37.3
44.1
18.6
100.0
922,230
526,211
61,328
1,509,769
61.1
34.9
4.1
100.0
68
56
31
155
43.9
36.1
20.0
100.0
156,575
115,667
62,762
21.8
16.1
8.7
5
28
24
2.8
15.8
13.6
221,617
195,669
74,567
14.7
13.0
4.9
26
4
2
16.8
2.6
1.3
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Italy
Germany
US
France
Germany
Spain
Table of Contents
Switzerland
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
81,618
170,908
0
0
252,526
32.3
67.7
0.0
0.0
100.0
19
4
0
0
23
82.6
17.4
0.0
0.0
100.0
8,870
212,637
474,988
499,707
1,196,203
0.7
17.8
39.7
41.8
100.0
4
4
2
1
9
36.4
36.4
18.2
9.1
100.0
Amount
Number of
companies
Amount
Number of
companies
634,057
84,663
0
718,719
88.2
11.8
0.0
100.0
131
53
0
177
71.2
28.8
0.0
100.0
1,461,795
47,974
0
1,509,769
96.8
3.2
0.0
100.0
120
46
0
155
72.3
27.7
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Switzerland
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
5,784
151,854
66,551
224,189
76,735
0
6,250
287,892
595,066
1.0
25.5
11.2
37.7
12.9
0.0
1.1
48.4
100.0
18
44
14
73
11
0
1
16
99
17.3
42.3
13.5
73.1
10.6
0.0
1.0
15.4
100.0
5,008
109,535
46,198
160,741
196,649
6,193
5,091
940,411
1,309,086
0.4
8.4
3.5
12.3
15.0
0.5
0.4
71.8
100.0
18
40
15
72
13
5
2
8
100
17.8
39.6
14.9
72.3
12.9
5.0
2.0
7.9
100.0
0
134,966
63,925
821
11,072
29,870
21,327
4,035
27,310
7,654
0
291,046
0
0
3,040
595,066
196,106
0.0
22.7
10.7
0.1
1.9
5.0
3.6
0.7
4.6
1.3
0.0
48.9
0.0
0.0
0.5
100.0
33.0
0
10
2
4
12
13
1
2
3
4
0
44
0
0
4
99
47
0.0
10.1
2.0
4.0
12.1
13.1
1.0
2.0
3.0
4.0
0.0
44.4
0.0
0.0
4.0
100.0
47.5
0
79,561
77,095
323
797,356
17,708
0
166,404
15,246
7,406
0
147,987
0
0
0
1,309,086
170,148
0.0
6.1
5.9
0.0
60.9
1.4
0.0
12.7
1.2
0.6
0.0
11.3
0.0
0.0
0.0
100.0
13.0
0
12
4
2
12
20
0
7
1
4
0
38
0
0
0
100
52
0.0
12.0
4.0
2.0
12.0
20.0
0.0
7.0
1.0
4.0
0.0
38.0
0.0
0.0
0.0
100.0
52.0
388,810
206,256
595,066
65.3
34.7
100.0
65
39
99
62.5
37.5
100.0
991,238
317,848
1,309,086
75.7
24.3
100.0
57
50
100
53.3
46.7
100.0
137,775
455,094
23.2
76.5
39
60
38.6
59.4
950,313
358,772
72.6
27.4
40
62
39.2
60.8
2,197
595,066
262,412
0.4
100.0
44.1
2
99
52
2.0
100.0
52.5
0
1,309,086
1,127,928
0.0
100.0
86.2
0
100
57
0.0
100.0
57.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Switzerland
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
40,224
247,669
0
0
287,892
14.0
86.0
0.0
0.0
100.0
10
6
0
0
16
62.5
37.5
0.0
0.0
100.0
18,201
139,360
283,143
499,707
940,411
1.9
14.8
30.1
53.1
100.0
3
4
1
1
8
33.3
44.4
11.1
11.1
100.0
Amount
Number of
companies
Amount
Number of
companies
0
0
0
821
9,545
25,115
0
0
0
1,654
0
186,174
0
0
880
224,189
162,323
0.0
0.0
0.0
0.4
4.3
11.2
0.0
0.0
0.0
0.7
0.0
83.0
0.0
0.0
0.4
100.0
72.4
0
0
0
4
11
12
0
0
0
3
0
41
0
0
2
73
45
0.0
0.0
0.0
5.5
15.1
16.4
0.0
0.0
0.0
4.1
0.0
56.2
0.0
0.0
2.7
100.0
61.6
0
207
0
323
6,114
17,643
0
4,790
0
3,656
0
128,009
0
0
0
160,741
128,559
0.0
0.1
0.0
0.2
3.8
11.0
0.0
3.0
0.0
2.3
0.0
79.6
0.0
0.0
0.0
100.0
80.0
0
2
0
2
9
19
0
2
0
3
0
35
0
0
0
72
49
0.0
2.8
0.0
2.8
12.5
26.4
0.0
2.8
0.0
4.2
0.0
48.6
0.0
0.0
0.0
100.0
68.1
0
134,966
63,925
0
1,527
4,754
21,327
4,035
27,310
6,000
0
104,872
0
0
2,160
370,877
33,784
0.0
36.4
17.2
0.0
0.4
1.3
5.8
1.1
7.4
1.6
0.0
28.3
0.0
0.0
0.6
100.0
9.1
0
10
2
0
2
1
1
2
3
1
0
3
0
0
2
27
2
0.0
37.0
7.4
0.0
7.4
3.7
3.7
7.4
11.1
3.7
0.0
11.1
0.0
0.0
7.4
100.0
7.4
0
79,354
77,095
0
791,242
65
0
161,614
15,246
3,751
0
19,978
0
0
0
1,148,344
41,589
0.0
6.9
6.7
0.0
68.9
0.0
0.0
14.1
1.3
0.3
0.0
1.7
0.0
0.0
0.0
100.0
3.6
0
10
4
0
3
1
0
5
1
1
0
3
0
0
0
28
3
0.0
35.7
14.3
0.0
10.7
3.6
0.0
17.9
3.6
3.6
0.0
10.7
0.0
0.0
0.0
100.0
10.7

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Switzerland
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
83,135
13,682
0
13,682
0
0
360
27,666
0
8,741
18,700
152,284
54.6
9.0
0.0
0.0
0.2
18.2
0.0
5.7
12.3
100.0
9
5
0
5
0
0
1
5
0
6
6
32
28.1
15.6
0.0
0.0
3.1
15.6
0.0
18.8
18.8
100.0
50,319
62,070
35,061
27,009
0
0
259
4,582
16,491
0
8,187
141,908
35.5
43.7
0.0
0.0
0.2
3.2
11.6
0.0
5.8
100.0
12
6
2
4
0
0
2
4
1
0
3
28
42.9
21.4
0.0
0.0
7.1
14.3
3.6
0.0
10.7
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Consumer prices (Dec. 2005=100)*
Producer prices (May 2003=100)*
Interest rates (3-month - interbank bid rate)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
61
38
12
11
11,502
3,977
4,063
3,462
0.17%
0.20%
351
204
40
99.1
100.3
0.1%
2.2%
115.3
3.7%
0.32%
0.37%
414
239
46
99.7
100.3
0.3%
1.6%
119.7
3.9%
25,651
429
24,940
318
0
0
194
3

* DATASTREAM
Table of Contents
Switzerland
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
34,148
204,714
0
204,714
9,549
0
360
46,490
0
2,555
3,203
301,020
0
5,881
0
715
3,228
29,420
0
185,200
3,803
3,445
0
66,569
0
0
2,760
301,020
11.3
68.0
3.2
0.0
0.1
15.4
0.0
0.8
1.1
100.0
5
4
0
4
2
0
1
6
0
3
2
23
0.0
2.0
0.0
0.2
1.1
9.8
0.0
61.5
1.3
1.1
0.0
22.1
0.0
0.0
0.9
100.0
0
2
0
1
1
3
0
3
2
2
0
7
0
0
2
23
21.7
17.4
8.7
0.0
4.3
26.1
0.0
13.0
8.7
100.0
107,804
86,254
32,500
53,754
53,672
635
259
37,481
16,491
1,100
24,069
327,763
0.0
8.7
0.0
4.3
4.3
13.0
0.0
13.0
8.7
8.7
0.0
30.4
0.0
0.0
8.7
100.0
0
66,071
10,000
0
2,948
40,657
0
97,331
18,247
26,024
1,581
64,904
0
0
0
327,763
32.9
26.3
16.4
0.2
0.1
11.4
5.0
0.3
7.3
100.0
8
6
1
5
2
1
2
4
1
1
4
28
27.6
20.7
6.9
3.4
6.9
13.8
3.4
3.4
13.8
100.0
0.0
20.2
3.1
0.0
0.9
12.4
0.0
29.7
5.6
7.9
0.5
19.8
0.0
0.0
0.0
100.0
0
4
1
0
3
3
0
6
1
2
2
6
0
0
0
28
0.0
14.3
3.6
0.0
10.7
10.7
0.0
21.4
3.6
7.1
7.1
21.4
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Switzerland
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
31,748
20,713
0
20,713
9,549
0
360
23,098
0
0
3,203
88,672
0
0
0
715
3,228
29,420
0
2,488
0
3,280
0
49,181
0
0
360
88,672
35.8
23.4
10.8
0.0
0.4
26.0
0.0
0.0
3.6
100.0
4
3
0
3
2
0
1
2
0
0
2
14
0.0
0.0
0.0
0.8
3.6
33.2
0.0
2.8
0.0
3.7
0.0
55.5
0.0
0.0
0.4
100.0
0
0
0
1
1
3
0
1
0
2
0
5
0
0
1
14
28.6
21.4
14.3
0.0
7.1
14.3
0.0
0.0
14.3
100.0
54,185
48,331
0
48,331
13,572
0
21
9,502
0
0
2,912
128,523
0.0
0.0
0.0
7.1
7.1
21.4
0.0
7.1
0.0
14.3
0.0
35.7
0.0
0.0
7.1
100.0
0
832
0
0
2,948
40,657
0
0
0
26,024
0
58,061
0
0
0
128,523
42.2
37.6
10.6
0.0
0.0
7.4
0.0
0.0
2.3
100.0
4
4
0
4
1
0
1
2
0
0
1
12
30.8
30.8
7.7
0.0
7.7
15.4
0.0
0.0
7.7
100.0
0.0
0.6
0.0
0.0
2.3
31.6
0.0
0.0
0.0
20.2
0.0
45.2
0.0
0.0
0.0
100.0
0
1
0
0
3
3
0
0
0
2
0
3
0
0
0
12
0.0
8.3
0.0
0.0
25.0
25.0
0.0
0.0
0.0
16.7
0.0
25.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Switzerland
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
2,400
184,001
0
184,001
0
0
0
23,392
0
2,555
0
212,348
0
5,881
0
0
0
0
0
182,712
3,803
165
0
17,388
0
0
2,400
212,348
1.1
86.7
0.0
0.0
0.0
11.0
0.0
1.2
0.0
100.0
1
3
0
3
0
0
0
4
0
3
0
11
0.0
2.8
0.0
0.0
0.0
0.0
0.0
86.0
1.8
0.1
0.0
8.2
0.0
0.0
1.1
100.0
0
2
0
0
0
0
0
2
2
1
0
3
0
0
1
11
9.1
27.3
0.0
0.0
0.0
36.4
0.0
27.3
0.0
100.0
53,619
37,923
32,500
5,423
40,100
635
238
27,979
16,491
1,100
21,157
199,241
0.0
18.2
0.0
0.0
0.0
0.0
0.0
18.2
18.2
9.1
0.0
27.3
0.0
0.0
9.1
100.0
0
65,239
10,000
0
0
0
0
97,331
18,247
0
1,581
6,843
0
0
0
199,241
26.9
19.0
20.1
0.3
0.1
14.0
8.3
0.6
10.6
100.0
4
2
1
1
1
1
1
2
1
1
3
16
25.0
12.5
6.3
6.3
6.3
12.5
6.3
6.3
18.8
100.0
0.0
32.7
5.0
0.0
0.0
0.0
0.0
48.9
9.2
0.0
0.8
3.4
0.0
0.0
0.0
100.0
0
3
1
0
0
0
0
6
1
0
2
3
0
0
0
16
0.0
18.8
6.3
0.0
0.0
0.0
0.0
37.5
6.3
0.0
12.5
18.8
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
718,719
(506,903)
383,250
595,066
1,509,769
(587,539)
386,856
1,309,086
Amount
Amount
152,284
(117,986)
266,721
301,020
141,908
(29,015)
214,871
327,763
Table of Contents
Ukraine
Print

2009
2010
Amount
Amount
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
35,490
0
35,490
0
35,490
100.0
0.0
100.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
35,490
0
0
0
35,490
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
1,580
0
11,830
0
15,770
0.0
0.0
0.0
0.0
0.0
4.5
0.0
33.3
0.0
44.4
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0
790
5,520
0
35,490
0.0
2.2
15.6
0.0
100.0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
35,490
0
35,490
0
0
35,490
100.0
0.0
100.0
0.0
0.0
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
Ukraine
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
Ukraine
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
0
0
0
3,133
0
0
9,126
12,259
0.0
0.0
0.0
0.0
25.6
0.0
0.0
74.4
100.0
0
0
0
0
2
0
0
2
4
0.0
0.0
0.0
0.0
50.0
0.0
0.0
50.0
100.0
0
0
0
0
91,170
0
0
3,116
94,286
0.0
0.0
0.0
0.0
96.7
0.0
0.0
3.3
100.0
0
0
0
0
7
0
0
1
8
0.0
0.0
0.0
0.0
87.5
0.0
0.0
12.5
100.0
0
0
0
0
6,646
0
0
4,542
0
0
1,071
0
0
0
0
12,259
0
0.0
0.0
0.0
0.0
54.2
0.0
0.0
37.0
0.0
0.0
8.7
0.0
0.0
0.0
0.0
100.0
0.0
0
0
0
0
1
0
0
2
0
0
1
0
0
0
0
4
0
0.0
0.0
0.0
0.0
25.0
0.0
0.0
50.0
0.0
0.0
25.0
0.0
0.0
0.0
0.0
100.0
0.0
28,230
0
0
0
34,269
0
0
26,418
0
0
5,369
0
0
0
0
94,286
0
29.9
0.0
0.0
0.0
36.3
0.0
0.0
28.0
0.0
0.0
5.7
0.0
0.0
0.0
0.0
100.0
0.0
1
0
0
0
1
0
0
3
0
0
3
0
0
0
0
8
0
12.5
0.0
0.0
0.0
12.5
0.0
0.0
37.5
0.0
0.0
37.5
0.0
0.0
0.0
0.0
100.0
0.0
12,259
0
12,259
100.0
0.0
100.0
4
0
4
100.0
0.0
100.0
76,846
17,440
94,286
81.5
18.5
100.0
5
3
8
62.5
37.5
100.0
9,126
2,062
74.4
16.8
2
1
50.0
25.0
66,280
28,006
70.3
29.7
5
4
55.6
44.4
1,071
12,259
9,126
8.7
100.0
74.4
1
4
2
25.0
100.0
50.0
0
94,286
68,247
0.0
100.0
72.4
0
8
6
0.0
100.0
75.0
12,259
0
0
12,259
100.0
0.0
0.0
100.0
4
0
0
4
100.0
0.0
0.0
100.0
94,286
0
0
94,286
100.0
0.0
0.0
100.0
8
0
0
8
100.0
0.0
0.0
100.0
0
0
0
0.0
0.0
0.0
0
0
0
0.0
0.0
0.0
0
0
0
0.0
0.0
0.0
0
0
0
0.0
0.0
0.0
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
-
Table of Contents
Ukraine
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
9,126
0
0
0
9,126
100.0
0.0
0.0
0.0
100.0
2
0
0
0
2
100.0
0.0
0.0
0.0
100.0
3,116
0
0
0
3,116
100.0
0.0
0.0
0.0
100.0
1
0
0
0
1
100.0
0.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
12,259
0
0
12,259
100.0
0.0
0.0
100.0
4
0
0
4
100.0
0.0
0.0
100.0
94,286
0
0
94,286
100.0
0.0
0.0
100.0
8
0
0
8
100.0
0.0
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
Ukraine
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
0
175
0
175
7,260
0
0
30,784
38,219
0.0
0.5
0.0
0.5
19.0
0.0
0.0
80.5
100.0
0
1
0
1
3
0
0
4
8
0.0
12.5
0.0
12.5
37.5
0.0
0.0
50.0
100.0
0
0
0
0
92,711
0
0
3,116
95,827
0.0
0.0
0.0
0.0
96.7
0.0
0.0
3.3
100.0
0
0
0
0
8
0
0
1
9
0.0
0.0
0.0
0.0
88.9
0.0
0.0
11.1
100.0
0
0
0
0
24,646
175
0
4,542
0
0
5,198
0
0
0
3,658
38,219
0
0.0
0.0
0.0
0.0
64.5
0.5
0.0
11.9
0.0
0.0
13.6
0.0
0.0
0.0
9.6
100.0
0.0
0
0
0
0
2
1
0
2
0
0
2
0
0
0
1
8
0
0.0
0.0
0.0
0.0
25.0
12.5
0.0
25.0
0.0
0.0
25.0
0.0
0.0
0.0
12.5
100.0
0.0
28,230
0
0
0
34,269
0
0
26,418
0
0
6,910
0
0
0
0
95,827
0
29.5
0.0
0.0
0.0
35.8
0.0
0.0
27.6
0.0
0.0
7.2
0.0
0.0
0.0
0.0
100.0
0.0
1
0
0
0
1
0
0
3
0
0
4
0
0
0
0
9
0
11.1
0.0
0.0
0.0
11.1
0.0
0.0
33.3
0.0
0.0
44.4
0.0
0.0
0.0
0.0
100.0
0.0
38,219
0
38,219
100.0
0.0
100.0
8
0
8
100.0
0.0
100.0
78,387
17,440
95,827
81.8
18.2
100.0
6
3
9
66.7
33.3
100.0
30,784
6,364
80.5
16.7
4
3
50.0
37.5
66,280
29,547
69.2
30.8
5
5
50.0
50.0
1,071
38,219
30,959
2.8
100.0
81.0
1
8
5
12.5
100.0
62.5
0
95,827
68,247
0.0
100.0
71.2
0
9
6
0.0
100.0
66.7
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
Ukraine
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
12,784
18,000
0
0
30,784
41.5
58.5
0.0
0.0
100.0
3
1
0
0
4
75.0
25.0
0.0
0.0
100.0
3,116
0
0
0
3,116
100.0
0.0
0.0
0.0
100.0
1
0
0
0
1
100.0
0.0
0.0
0.0
100.0
Amount
Number of
companies
Amount
Number of
companies
0
0
0
0
0
175
0
0
0
0
0
0
0
0
0
175
0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
1
0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
24,646
0
0
4,542
0
0
5,198
0
0
0
3,658
38,044
0
0.0
0.0
0.0
0.0
64.8
0.0
0.0
11.9
0.0
0.0
13.7
0.0
0.0
0.0
9.6
100.0
0.0
0
0
0
0
2
0
0
2
0
0
2
0
0
0
1
7
0
0.0
0.0
0.0
0.0
28.6
0.0
0.0
28.6
0.0
0.0
28.6
0.0
0.0
0.0
14.3
100.0
0.0
28,230
0
0
0
34,269
0
0
26,418
0
0
6,910
0
0
0
0
95,827
0
29.5
0.0
0.0
0.0
35.8
0.0
0.0
27.6
0.0
0.0
7.2
0.0
0.0
0.0
0.0
100.0
0.0
1
0
0
0
1
0
0
3
0
0
4
0
0
0
0
9
0
11.1
0.0
0.0
0.0
11.1
0.0
0.0
33.3
0.0
0.0
44.4
0.0
0.0
0.0
0.0
100.0
0.0

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
Ukraine
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
2,751
0
0
0
0
0
0
0
4,316
2,166
0
9,233
29.8
0.0
0.0
0.0
0.0
0.0
46.7
23.5
0.0
100.0
1
0
0
0
0
0
0
0
1
1
0
3
33.3
0.0
0.0
0.0
0.0
0.0
33.3
33.3
0.0
100.0
0
0
0
0
4,089
0
1,468
0
0
0
0
5,556
0.0
0.0
73.6
0.0
26.4
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
1
0
0
0
0
2
0.0
0.0
50.0
0.0
50.0
0.0
0.0
0.0
0.0
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Producer prices (April previous year=100)*
Interest rates (3-month)**
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
5
0
4
1
908
0
873
35
0.05%
0.01%
84
54
2
101.0
101.1
18.9
n.a.
251.3
1.9%
0.08%
0.08%
113
71
2
100.7
101.5
8.9
n.a.
298.8
2.0%
214
349
4,255
319
0
0
241
3

* DATASTREAM
Table of Contents
Ukraine
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
2,751
0
0
0
0
0
0
0
4,316
2,166
0
9,233
0
2,166
0
0
2,751
0
0
0
0
0
4,316
0
0
0
0
9,233
29.8
0.0
0.0
0.0
0.0
0.0
46.7
23.5
0.0
100.0
1
0
0
0
0
0
0
0
1
1
0
3
0.0
23.5
0.0
0.0
29.8
0.0
0.0
0.0
0.0
0.0
46.7
0.0
0.0
0.0
0.0
100.0
0
1
0
0
1
0
0
0
0
0
1
0
0
0
0
3
33.3
0.0
0.0
0.0
0.0
0.0
33.3
33.3
0.0
100.0
48,000
0
0
0
38,129
0
1,468
0
0
0
0
87,597
0.0
33.3
0.0
0.0
33.3
0.0
0.0
0.0
0.0
0.0
33.3
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
1,468
0
48,000
38,129
0
0
0
0
87,597
54.8
0.0
43.5
0.0
1.7
0.0
0.0
0.0
0.0
100.0
1
0
0
0
1
0
1
0
0
0
0
3
33.3
0.0
33.3
0.0
33.3
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.7
0.0
54.8
43.5
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
1
0
1
1
0
0
0
0
3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
33.3
0.0
33.3
33.3
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Ukraine
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
2,751
0
0
0
0
0
0
0
4,316
0
0
7,067
0
0
0
0
2,751
0
0
0
0
0
4,316
0
0
0
0
7,067
38.9
0.0
0.0
0.0
0.0
0.0
61.1
0.0
0.0
100.0
1
0
0
0
0
0
0
0
1
0
0
2
0.0
0.0
0.0
0.0
38.9
0.0
0.0
0.0
0.0
0.0
61.1
0.0
0.0
0.0
0.0
100.0
0
0
0
0
1
0
0
0
0
0
1
0
0
0
0
2
50.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
50.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
0.0
0.0
50.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
Ukraine
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
0
0
0
0
0
0
0
0
0
2,166
0
2,166
0
2,166
0
0
0
0
0
0
0
0
0
0
0
0
0
2,166
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
100.0
0
0
0
0
0
0
0
0
0
1
0
1
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
100.0
48,000
0
0
0
38,129
0
1,468
0
0
0
0
87,597
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
1,468
0
48,000
38,129
0
0
0
0
87,597
54.8
0.0
43.5
0.0
1.7
0.0
0.0
0.0
0.0
100.0
1
0
0
0
1
0
1
0
0
0
0
3
33.3
0.0
33.3
0.0
33.3
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.7
0.0
54.8
43.5
0.0
0.0
0.0
0.0
100.0
0
0
0
0
0
0
0
1
0
1
1
0
0
0
0
3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
33.3
0.0
33.3
33.3
0.0
0.0
0.0
0.0
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
12,259
(0)
25,960
38,219
94,286
(0)
1,541
95,827
Amount
Amount
9,233
(0)
0
9,233
5,556
(4,089)
86,129
87,597
Table of Contents
United Kingdom
Print

2009
2010
Amount
Amount
5,151,250
454,600
5,605,850
29,130
5,634,980
91.4
8.1
99.5
0.5
100.0
6,348,150
1,341,180
7,689,330
9,650
7,698,980
82.5
17.4
99.9
0.1
100.0
92,710
27,570
454,430
574,710
327,830
4,634,630
0
97,810
5,634,980
1.6
0.5
8.1
10.2
5.8
82.2
0.0
1.7
100.0
85,730
92,320
411,410
589,460
1,453,200
5,498,260
98,080
59,980
7,698,980
1.1
1.2
5.3
7.7
18.9
71.4
1.3
0.8
100.0
28,160
669,800
216,500
278,370
147,510
197,900
672,430
368,010
620,320
289,700
0.5
11.9
3.9
5.0
2.6
3.5
12.0
6.6
11.1
5.2
0
466,580
1,000,560
43,200
26,270
1,072,420
594,180
263,070
477,850
334,100
0.0
6.1
13.0
0.6
0.3
13.9
7.7
3.4
6.2
4.3
1,386,540
135,620
90,120
504,870
5,605,850
24.7
2.4
1.6
9.0
100.0
704,280
151,970
256,600
2,298,250
7,689,330
9.2
2.0
3.3
29.9
100.0
3,247,090
2,192,790
1,054,300
1,495,040
863,720
5,605,850
57.9
39.1
18.8
26.7
15.4
100.0
4,325,090
2,528,080
1,797,010
1,016,420
2,347,820
7,689,330
56.2
32.9
23.4
13.2
30.5
100.0
Fund ownership type

New funds raised
Total funds raised
Fund stage focus
Early-stage
Later stage venture
Balanced
Total venture
Growth capital
Buyout
Mezzanine
Generalist
Total funds raised
Investor type
Banks
Capital markets
Corporate investors
Family offices
Funds-of-funds
Government agencies
Insurance companies
Pension funds
Private individuals
Unknown
New funds raised
Within Europe
Domestic
Non-domestic
Outside Europe
Unknown
New funds raised
Table of Contents
United Kingdom
Print
All Private Equity
2009
2010
Amount
Number
of funds
Average
fund size
Amount
Number
of funds
Average
fund size
5,580
11,610
44,410
61,600
185,020
6,023,810
0
0
6,270,430
1
1
2
4
3
7
0
0
14
5,580
11,610
22,205
15,400
61,673
860,544
0
0
447,888
194,860
87,820
364,720
647,400
1,248,190
7,046,400
23,080
0
8,965,070
5
1
6
12
2
12
1
0
27
38,972
87,820
60,787
53,950
624,095
587,200
23,080
0
332,040
0
0
0
0
575,000
34,340
0
5,661,090
6,270,430
0
0
0
0
1
1
0
12
14
0
0
0
0
575,000
34,340
0
471,758
447,888
0
0
0
0
0
207,530
87,820
8,669,720
8,965,070
0
0
0
0
0
3
1
23
27
0
0
0
0
0
69,177
87,820
376,944
332,040
Fund stage focus

Early-stage
Later stage venture
Balanced
Total venture
Growth
Buyout
Mezzanine
Generalist
Total funds raised
Fund sector focus
Financial services
ICT
Life sciences
Generalist
Total funds raised
2009
Venture
2010
Buyout*
Venture
Buyout*
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
Amount
Number
of funds
0
0
0
0
0
34,340
0
27,260
61,600
0
0
0
0
0
1
0
3
4
0
0
0
0
575,000
0
0
5,633,830
6,208,830
0
0
0
0
1
0
0
9
10
0
0
0
0
0
151,340
87,820
408,240
647,400
0
0
0
0
0
2
1
9
12
0
0
0
0
0
56,190
0
8,261,480
8,317,670
0
0
0
0
0
1
0
14
15

Financial services
ICT
Life sciences
Generalist
Total funds raised
Table of Contents
United Kingdom
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
9,856
372,186
496,110
878,152
1,592,620
325,516
517,414
5,738,404
9,052,107
0.1
4.1
5.5
9.7
17.6
3.6
5.7
63.4
100.0
28
264
203
476
155
26
29
157
825
3.2
30.6
23.5
57.4
18.0
3.0
3.4
18.2
100.0
7,045
263,634
492,250
762,929
2,426,636
107,277
1,161,788
14,580,576
19,039,206
0.0
1.4
2.6
4.0
12.7
0.6
6.1
76.6
100.0
16
201
169
382
192
12
31
202
804
1.9
24.4
20.5
46.9
23.3
1.5
3.8
24.5
100.0
111,906
356,166
962,625
97,967
1,843,584
635,411
67,682
1,285,157
669,029
721,203
1,119,743
922,956
0
252,403
6,275
9,052,107
661,379
1.2
3.9
10.6
1.1
20.4
7.0
0.7
14.2
7.4
8.0
12.4
10.2
0.0
2.8
0.1
100.0
7.3
3
51
50
16
141
166
14
57
54
59
34
163
0
11
6
825
243
0.4
6.2
6.1
1.9
17.1
20.1
1.7
6.9
6.5
7.2
4.1
19.8
0.0
1.3
0.7
100.0
29.5
1,588
755,530
2,677,353
592,241
1,587,443
2,011,977
33,444
4,103,735
2,397,189
366,375
2,015,331
1,913,996
43,184
538,666
1,154
19,039,206
756,802
0.0
4.0
14.1
3.1
8.3
10.6
0.2
21.6
12.6
1.9
10.6
10.1
0.2
2.8
0.0
100.0
4.0
1
50
72
22
128
164
7
70
55
53
30
128
3
20
1
804
216
0.1
6.2
9.0
2.7
15.9
20.4
0.9
8.7
6.8
6.6
3.7
15.9
0.4
2.5
0.1
100.0
26.9
5,597,740
3,454,368
9,052,107
61.8
38.2
100.0
435
423
825
50.7
49.3
100.0
13,721,613
5,317,592
19,039,206
72.1
27.9
100.0
469
350
804
57.3
42.7
100.0
4,987,095
4,024,156
55.1
44.5
257
580
30.1
68.0
7,167,121
11,871,733
37.6
62.4
297
523
36.1
63.6
40,856
9,052,107
6,415,658
0.5
100.0
70.9
16
825
337
1.9
100.0
40.8
352
19,039,206
16,920,419
0.0
100.0
88.9
2
804
442
0.2
100.0
55.0
4,363,998
3,845,336
842,774
9,052,107
48.2
42.5
9.3
100.0
597
173
55
825
72.4
21.0
6.7
100.0
11,721,878
5,316,369
2,000,959
19,039,206
61.6
27.9
10.5
100.0
613
139
52
804
76.2
17.3
6.5
100.0
1,340,847
655,316
431,465
14.8
7.2
4.8
9
37
15
1.1
4.5
1.8
961,875
804,188
671,045
5.1
4.2
3.5
38
12
6
4.7
1.5
0.7
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Domestic
Total investment
2009
2010
Czech Republic
US
US
France
Ireland
Norway
Table of Contents
United Kingdom
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
519,025
2,733,672
734,282
1,751,426
5,738,404
9.0
47.6
12.8
30.5
100.0
106
50
3
4
157
65.0
30.7
1.8
2.5
100.0
721,216
4,883,331
4,612,296
4,363,732
14,580,576
4.9
33.5
31.6
29.9
100.0
106
82
20
10
202
48.6
37.6
9.2
4.6
100.0
Amount
Number of
companies
Amount
Number of
companies
8,471,087
580,762
259
9,052,107
93.6
6.4
0.0
100.0
788
59
3
825
92.7
6.9
0.4
100.0
18,584,619
454,587
0
19,039,206
97.6
2.4
0.0
100.0
755
72
0
804
91.3
8.7
0.0
100.0

Small
Mid-market
Large
Mega
Total buyout
All Private Equity

Investor type
Independent
Captive
Public sector
Total investment
Table of Contents
United Kingdom
Print

All Private Equity
2009
2010
Amount
Number of
companies
Amount
Number of
companies
11,403
361,877
398,507
771,787
769,700
81,749
472,611
2,641,006
4,736,854
0.2
7.6
8.4
16.3
16.2
1.7
10.0
55.8
100.0
28
226
153
384
130
18
23
106
644
4.1
33.0
22.4
59.5
19.0
2.6
3.4
15.5
100.0
8,075
277,121
428,395
713,591
1,449,408
101,852
809,296
9,633,040
12,707,187
0.1
2.2
3.4
5.6
11.4
0.8
6.4
75.8
100.0
14
177
136
323
167
10
18
167
670
2.0
25.7
19.7
47.5
24.2
1.5
2.6
24.2
100.0
444
180,819
645,374
38,749
966,253
411,923
52,933
379,429
433,714
334,070
650,434
593,563
0
41,862
7,287
4,736,854
493,508
0.0
3.8
13.6
0.8
20.4
8.7
1.1
8.0
9.2
7.1
13.7
12.5
0.0
0.9
0.2
100.0
10.4
2
38
41
12
109
129
12
44
46
48
28
119
0
8
8
644
182
0.3
5.9
6.4
1.9
16.9
20.0
1.9
6.8
7.1
7.5
4.3
18.5
0.0
1.2
1.2
100.0
28.3
0
988,124
2,146,566
244,155
914,872
898,767
33,444
2,177,336
1,952,398
243,771
1,374,268
1,369,702
40,000
322,630
1,154
12,707,187
575,840
0.0
7.8
16.9
1.9
7.2
7.1
0.3
17.1
15.4
1.9
10.8
10.8
0.3
2.5
0.0
100.0
4.5
0
37
70
16
103
129
7
60
50
48
28
103
2
16
1
670
167
0.0
5.5
10.4
2.4
15.4
19.3
1.0
9.0
7.5
7.2
4.2
15.4
0.3
2.4
0.1
100.0
24.9
2,737,278
1,999,576
4,736,854
57.8
42.2
100.0
354
317
644
52.8
47.2
100.0
9,470,547
3,236,640
12,707,187
74.5
25.5
100.0
423
264
670
61.6
38.4
100.0
2,486,204
2,208,416
52.5
46.6
225
431
33.4
63.9
6,018,291
6,687,661
47.4
52.6
272
414
39.5
60.1
42,235
4,736,854
3,182,993
0.9
100.0
67.2
18
644
287
2.7
100.0
44.6
1,235
12,707,187
11,056,600
0.0
100.0
87.0
3
670
389
0.4
100.0
58.1
Stage focus
Seed
Start-up
Later stage venture
Total venture
Growth
Rescue/Turnaround
Replacement capital
Buyout
Total investment
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Syndication
No syndication
Syndication
Total investment
for the company
Unknown
Total investment
Table of Contents
United Kingdom
Print

Buyout Deals
2009
2010
Amount
(equity value)
Number of
companies
Amount
(equity value)
Number of
companies
398,001
992,802
268,370
981,833
2,641,006
15.1
37.6
10.2
37.2
100.0
83
23
1
2
106
76.1
21.1
0.9
1.8
100.0
637,872
3,086,610
2,800,649
3,107,910
9,633,040
6.6
32.0
29.1
32.3
100.0
93
63
13
7
167
52.8
35.8
7.4
4.0
100.0
Amount
Number of
companies
Amount
Number of
companies
327
44,463
14,259
21,097
160,962
162,127
2,278
33,853
16,810
95,916
26,000
191,456
0
381
1,857
771,787
438,098
0.0
5.8
1.8
2.7
20.9
21.0
0.3
4.4
2.2
12.4
3.4
24.8
0.0
0.0
0.2
100.0
56.8
1
27
9
8
75
100
3
13
10
32
10
91
0
2
3
384
169
0.3
7.0
2.3
2.1
19.5
26.0
0.8
3.4
2.6
8.3
2.6
23.7
0.0
0.5
0.8
100.0
44.0
0
49,343
8,707
16,674
149,357
135,049
5,620
23,753
32,731
110,828
12,601
168,760
0
168
0
713,591
388,232
0.0
6.9
1.2
2.3
20.9
18.9
0.8
3.3
4.6
15.5
1.8
23.6
0.0
0.0
0.0
100.0
54.4
0
19
10
11
68
83
2
10
16
32
5
66
0
1
0
323
142
0.0
5.9
3.1
3.4
21.1
25.7
0.6
3.1
5.0
9.9
1.5
20.4
0.0
0.3
0.0
100.0
44.0
117
136,356
631,115
17,652
805,291
249,796
50,655
345,576
416,904
238,154
624,434
402,107
0
41,481
5,430
3,965,067
55,410
0.0
3.4
15.9
0.4
20.3
6.3
1.3
8.7
10.5
6.0
15.7
10.1
0.0
1.0
0.1
100.0
1.4
1
11
32
4
36
34
9
31
36
16
18
32
0
6
5
271
21
0.4
4.1
11.8
1.5
13.3
12.5
3.3
11.4
13.3
5.9
6.6
11.8
0.0
2.2
1.8
100.0
7.7
0
938,781
2,137,860
227,481
765,515
763,718
27,823
2,153,583
1,919,667
132,943
1,361,667
1,200,942
40,000
322,462
1,154
11,993,596
187,607
0.0
7.8
17.8
1.9
6.4
6.4
0.2
18.0
16.0
1.1
11.4
10.0
0.3
2.7
0.0
100.0
1.6
0
18
60
5
36
48
5
50
34
16
23
37
2
15
1
350
27
0.0
5.1
17.1
1.4
10.3
13.7
1.4
14.3
9.7
4.6
6.6
10.6
0.6
4.3
0.3
100.0
7.7

Small
Mid-market
Large
Mega
Total buyout
Venture Deals
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech

Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total investment
Subtotal high-tech
Table of Contents
United Kingdom
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
1,284,298
643,891
92,738
551,152
2,024,680
4,565
260,460
367,783
185,070
141,802
57,959
4,970,507
25.8
13.0
40.7
0.1
5.2
7.4
3.7
2.9
1.2
100.0
73
46
4
42
61
1
26
35
8
32
30
304
23.4
14.7
19.6
0.3
8.3
11.2
2.6
10.3
9.6
100.0
2,209,684
1,061,688
528,753
532,934
2,574,911
0
295,151
3,533,880
285,805
168,763
49,866
10,179,748
21.7
10.4
25.3
0.0
2.9
34.7
2.8
1.7
0.5
100.0
91
45
7
38
64
0
31
77
6
46
10
355
24.6
12.2
17.3
0.0
8.4
20.8
1.6
12.4
2.7
100.0

of which
buyout firms
generalist firms
of which
buyout firms
generalist firms
GDP ( billion)*
Interest rates (3-month - interbank offered rate)*
Unemployment rate*
M&A
Value ( million)
IPOs
Value ( million)
Number of listings
2009
2010
364
129
172
63
269,446
12,780
227,999
28,667
0.30%
0.58%
1,566
1,069
384
110.8
113.2
0.6%
3.4%
108.4
4.7%
0.75%
1.12%
1,695
1,166
409
114.5
117.9
0.8%
3.4%
111.1
4.7%
126,290
1,854
105,006
2,064
452
6
2,995
30

* DATASTREAM
Table of Contents
United Kingdom
Print

All Private Equity
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
647,902
329,000
0
329,000
1,158,369
4,565
84,773
354,719
128,837
75,594
33,403
2,817,162
0
146,123
244,980
23,504
405,551
262,889
105,746
495,621
597,269
198,584
39,572
237,861
7,523
42,391
9,547
2,817,162
23.0
11.7
41.1
0.2
3.0
12.6
4.6
2.7
1.2
100.0
63
32
0
32
48
1
24
30
7
29
24
247
0.0
5.2
8.7
0.8
14.4
9.3
3.8
17.6
21.2
7.0
1.4
8.4
0.3
1.5
0.3
100.0
0
15
28
5
34
52
9
18
17
11
7
36
3
6
6
247
24.4
12.4
18.6
0.4
9.3
11.6
2.7
11.2
9.3
100.0
1,303,017
196,949
71,310
125,639
2,068,772
0
190,461
2,113,179
286,111
111,146
41,827
6,311,462
0.0
6.1
11.3
2.0
13.8
21.1
3.6
7.3
6.9
4.5
2.8
14.6
1.2
2.4
2.4
100.0
2,669
431,896
651,870
39,634
204,898
404,176
29,768
1,033,697
2,358,452
100,439
183,013
709,626
31
160,689
604
6,311,462
20.6
3.1
32.8
0.0
3.0
33.5
4.5
1.8
0.7
100.0
65
29
3
26
51
0
24
45
7
38
9
256
24.3
10.8
19.0
0.0
9.0
16.8
2.6
14.2
3.4
100.0
0.0
6.8
10.3
0.6
3.2
6.4
0.5
16.4
37.4
1.6
2.9
11.2
0.0
2.5
0.0
100.0
1
22
29
7
25
45
6
29
32
8
15
27
1
7
2
256
0.4
8.6
11.3
2.7
9.8
17.6
2.3
11.3
12.5
3.1
5.9
10.5
0.4
2.7
0.8
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
United Kingdom
Print

Venture Deals
2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
170,847
174,378
0
174,378
151,204
0
8,304
162,914
1,343
12,539
10,955
692,484
0
581
38,060
5,008
146,723
189,395
1,225
517
1,345
144,794
35,678
122,222
6,686
0
250
692,484
24.7
25.2
21.8
0.0
1.2
23.5
0.2
1.8
1.6
100.0
33
14
0
14
23
0
5
18
1
13
7
112
0.0
0.1
5.5
0.7
21.2
27.4
0.2
0.1
0.2
20.9
5.2
17.6
1.0
0.0
0.0
100.0
0
3
6
2
18
39
1
2
3
5
4
26
2
0
1
112
28.9
12.3
20.2
0.0
4.4
15.8
0.9
11.4
6.1
100.0
196,709
19,100
2,536
16,565
61,615
0
7,698
83,728
0
38,492
212
407,555
0.0
2.7
5.4
1.8
16.1
34.8
0.9
1.8
2.7
4.5
3.6
23.2
1.8
0.0
0.9
100.0
0
487
7,373
543
76,727
115,952
125
1,884
47,207
44,300
17,987
94,911
0
0
58
407,555
48.3
4.7
15.1
0.0
1.9
20.5
0.0
9.4
0.1
100.0
24
14
1
13
22
0
6
9
0
8
3
84
27.9
16.3
25.6
0.0
7.0
10.5
0.0
9.3
3.5
100.0
0.0
0.1
1.8
0.1
18.8
28.5
0.0
0.5
11.6
10.9
4.4
23.3
0.0
0.0
0.0
100.0
0
2
7
3
12
26
1
1
8
4
2
17
0
0
1
84
0.0
2.4
8.3
3.6
14.3
31.0
1.2
1.2
9.5
4.8
2.4
20.2
0.0
0.0
1.2
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment
Table of Contents
United Kingdom
Print

2009
Amount
at cost
2010
Number of
companies
Amount
at cost
Number of
companies
Exit route
Sale to management
Total divestment
477,055
154,621
0
154,621
1,007,165
4,565
76,469
191,805
127,495
63,055
22,447
2,124,677
0
145,542
206,920
18,496
258,828
73,494
104,521
495,104
595,924
53,790
3,893
115,639
837
42,391
9,297
2,124,677
22.5
7.3
47.4
0.2
3.6
9.0
6.0
3.0
1.1
100.0
33
19
0
19
25
1
19
12
6
16
17
140
0.0
6.9
9.7
0.9
12.2
3.5
4.9
23.3
28.0
2.5
0.2
5.4
0.0
2.0
0.4
100.0
0
12
23
3
17
15
8
16
14
6
3
11
1
6
5
140
22.3
12.8
16.9
0.7
12.8
8.1
4.1
10.8
11.5
100.0
1,106,309
177,848
68,775
109,074
2,007,156
0
182,763
2,029,451
286,111
72,654
41,615
5,903,908
0.0
8.6
16.4
2.1
12.1
10.7
5.7
11.4
10.0
4.3
2.1
7.9
0.7
4.3
3.6
100.0
2,669
431,410
644,498
39,091
128,170
288,224
29,643
1,031,812
2,311,245
56,139
165,025
614,716
31
160,689
547
5,903,908
18.7
3.0
34.0
0.0
3.1
34.4
4.8
1.2
0.7
100.0
41
15
2
13
29
0
18
36
7
30
6
172
22.5
8.2
15.9
0.0
9.9
19.8
3.8
16.5
3.3
100.0
0.0
7.3
10.9
0.7
2.2
4.9
0.5
17.5
39.1
1.0
2.8
10.4
0.0
2.7
0.0
100.0
1
20
22
4
13
19
5
28
24
4
13
10
1
7
1
172
0.6
11.6
12.8
2.3
7.6
11.0
2.9
16.3
14.0
2.3
7.6
5.8
0.6
4.1
0.6
100.0
Sector focus
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
Total divestment


2009
2010
Amount
Amount
9,052,107
(4,688,109)
372,857
4,736,854
19,039,206
(7,317,328)
985,309
12,707,187
Amount
Amount
4,970,507
(2,219,206)
65,860
2,817,162
10,179,748
(3,923,014)
54,728
6,311,462
Exit
Creating lasting value:

Yearbook 2011
Acknowledgements
European Private Equity Activity Review
PEREP_Analytics
Private Equity Activity Review by Country
Methodology and Definitions
Contact Information
Disclaimer
Copyright
Austria
Germany
Portugal
Baltics
Greece
Romania
Belgium
Hungary
Spain
Bulgaria
Ireland
Sweden
Czech Republic
Italy
Switzerland
Denmark
Luxembourg
Ukraine
The Netherlands
United Kingdom
Finland
Norway
France
Poland
European Private Equity Activity Review - Graphs (PowerPoint)
Statistics: Links to Data Files (Excel files available to EVCA members only)
Table of Contents
Print
EVCA Yearbook 2011
Acknowledgments
Special thanks to all the regional and national private equity associations that collect their activity data via PEREP_Analytics, the
pan-European statistics tool, making it the most comprehensive European private equity database.
Table of Contents
Print
PEREP_Analytics is a centralised non-commercial pan-European private equity database. All national and regional
associations in Europe have been invited to join the European Private Equity and Venture Capital Association (EVCA)
in this exercise. Currently PEREP_Analytics is the joint statistical platform of EVCA and 19 national and regional private
equity and venture capital associations across Europe. Full confidentiality of the underlying data is preserved by the
associations involved in the exercise. No further third parties have access to the data. (www.perepanalytics.eu)
The quantitative and qualitative data collected via PEREP_Analytics serves:
the needs of all stakeholders for market approach statistics

the need for accurate, consistent and timely data
the need for timely ad hoc analyses
the intrinsic private equity market evolution where cross-border transactions are becoming the norm rather than
the exception
the general needs for private equity statistics by industry practitioners, investors, international organizations,
governments, and other stakeholders
Figures are updated on a continuous basis and are thus subject to change.
Table of Contents
Print

Overview and purpose
Governance of the PEREP database
The private equity industry is well established in Europe

and an accepted asset class in many European countries. It is
therefore important to produce reliable statistics on the size
of the industry. In order to report on the size of the private
equity market in Europe, a detailed survey was conducted by
PEREP_Analytics (PEREP) (www.perepanalytics.eu) among
European private equity firms managing pools of capital for
direct investments (including venture, growth capital,
mezzanine and buyout). PEREP_Analytics is a centralised
non-commercial pan-European private equity database with
its own staff, internal resources and web portal. Information is
collected via an online survey and complemented with reliable
public sources of information (such as players websites and
press releases).
PEREP is an independent database of private equity activity

in Europe and is closely monitored by its governing board,
which is made up of reputable academics, a Eurostat
representative and an investor in private equity (an LP).
PEREP is a joint Pan-European statistics platform of the

following private equity associations: APCRI (Portugal), AVCO
(Austria), BVA (Belgium), BVK (Germany), CVCA (Croatia),
CVCA (the Czech Republic), DVCA (Denmark), EstVCA
(Estonia), EVCA (Europe), FVCA (Finland), HVCA (Hungary),
IVCA (Ireland), LTVCA (Lithuania), NVCA (Norway), NVP (the
Netherlands), PPEA (Poland), SECA (Switzerland), SEEPEA
(South Eastern Europe), SLOVCA (Slovakia), SVCA (Sweden).
PEREP has collected data directly from the other countries in
Europe. PEREP is open for endorsement by the other private
equity associations in Europe.
The survey was conducted across 30 European countries. The
European Private Equity Activity Survey is administered on a
quarterly basis. All players that had reported for only one
quarter, or not at all, by the time of the launch of the Q4
survey, were invited to fill in the annual survey.
The study aims to represent the activity of all qualifying
participants in the industry, regardless of whether or not they
are members of the European Private Equity and Venture
Capital Association (EVCA) or any national private equity and
venture capital association. Moreover, since 2007, information
has been gathered on deal flows from private equity firms
located outside Europe into European companies.
Under the chairmanship of Professor Christoph Kaserer of

the Munich University of Technology, the governing board of
PEREP conducts internal audits and commissions external
audits on the processes and methodology underlying the
database and data collection; assesses market demand for
specific information in industry research projects on a
continuous basis; reviews the objectives behind research
studies; makes amendments to the methodology if necessary;
and operates as a think-tank for practitioners and associations
in planning research.
The governing body ensures feedback and governance
for what is the most representative supranational and
independent data-gathering platform for private equity
and venture capital in Europe. Board members include:
Professor Christoph Kaserer, Munich University
of Technology
Professor Stefano Caselli, Bocconi University, Milan
Professor Philippe Desbrieres, University of Burgundy
Bernard Flix, Eurostat, Luxembourg
Professor Mario Levis, Cass Business School, London
Professor Sophie Manigart, University of Ghent
Professor Markku Maula, Helsinki University of Technology
Professor Peter Rosenboom, Erasmus University,
Rotterdam
Sergey Sheshuryak, Adams Street Partners, London
To address the governing board with your questions and
recommendations please write to board@perepanalytics.eu.
Table of Contents

Sample design and selection

The PEREP team, with the support of EVCA and the
co-operating national private equity and venture capital
associations, attempted to identify all active qualifying private
equity and venture capital firms in Europe. If further private
equity firms were identified after the initial launch of the
survey, these firms were also given the opportunity to
participate in the survey.
Print
The PEREP website and the online survey provide name and
contact information for the PEREP analyst in charge of each
country and the co-operating national venture capital
association analyst. Throughout the data-collection period,
PEREP analysts and co-operating national associations made
numerous calls to non-respondents to encourage participation
in the survey.
Data editing and coding

PEREP collected data directly from companies located in
the following 30 countries: Austria, Belgium, Bulgaria, Croatia,
the Czech Republic, Denmark, Estonia, Finland, France,
Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania,
Luxembourg, the Netherlands, Norway, Poland, Portugal,
Romania, Serbia, Slovakia, Slovenia, Spain, Sweden,
Switzerland, Ukraine and the United Kingdom.
The overall coverage rate of the European private equity firms
was 71% based on 1,696 eligible private equity firms. In terms
of capital under management, the 2010 annual survey covered
91% of the European market.
Questionnaire design
Data was collected via an online questionnaire and public
sources of information (mainly primary sources such as
players websites). The questionnaire consisted of two
sections a deal by deal section and a global data section.
The questionnaire was also available in an excel format.
Questionnaires were provided in English and German.
Data collection
Most players were surveyed on a quarterly basis.
Players that had provided two quarters of data by the time
of the administration of the Q4 survey (and thus failed to fill
in one quarterly survey) were asked to fill in the Q4 survey
and were reminded about the data they had not yet provided
for one quarter.
Players that did not provide quarterly surveys, or had filled
in only one, were invited to fill in the annual questionnaire,
opened online in December 2010 on the PEREP website.
An interactive glossary of key terms is available in the online
survey to ensure all respondents have the same understanding
of the questions. A user manual is also available on the online
platform to assist players with the mechanics of completing
the online form.
Each questionnaire returned to the PEREP team was

subjected to a series of quality control checks, of which some
are now system-driven. Data from public sources was included
according to strict criteria and rules defining the qualifying
players, the transaction date, the relevant amounts and the
qualitative parameters.
Missing data input and weighting

As with all census studies, the European Private Equity Survey
has encountered different types of missing data, mostly due to
item non-response (when a private equity firm leaves particular
questions unanswered) and unit non-response (when a
selected firm has opted not to respond to the survey at all).
Item non-response
Given the way the questionnaire is structured, and that certain
questions are compulsory in the online survey, the emphasis is
on deal-by-deal information. Item response for the key variables
has been materially reduced with the set up of PEREP in 2007
and the implementation of a restructured questionnaire.
However, Item non-response still occurred via incomplete
responses to non-compulsory questions on the survey.
In terms of investments by number of employees, 2010 figures
were extrapolated in the event of a non-response.
If amounts have not been disclosed for specific deals,
conservative proxies were used to estimate funds
contributions or transaction values for investments or
amounts divested at cost. No deals have been left in the
database with zero amounts.
Table of Contents

Unit non-response
The figures produced for the 2010 activity year also include
high-quality public information available on players websites
or via media coverage (such as players press releases).
In the past, information based on media coverage was also
used in the database. Since 2007, however, this has been done
more systematically: it is part of the support provided to the
private equity firms that the public information on their
activity is populated in the database by the PEREP analyst,
so the player just needs to login, validate existing data and
complete the profile with missing information.
No extrapolations have been made beyond the survey and
publicly available information to account for active players
in the market that are not covered by the database.
Fundraising
Funds raised are recorded in the country of the management
company raising the fund (industry statistics), even if the
investment policy of that fund is to invest in another
geographic market. The only exception for country aggregation
is in the European chapter of the EVCA Yearbook, where
fundraising is additionally presented by country of location
of the investors into the funds (see page 11).
Print
Prior to 2007, for captive and semi-captive firms, new

investment activity undertaken via their captive vehicle was
recorded as new funds raised. Funds raised by captive and
semi-captive firms from sources other than their parent
organisations were recorded as independent funds raised.
Since 2007, semi-captive funds have been classified as
independent. Given that the definition of captive funds is
restricted to include only funds that are 100% owned by the
parent organisation, there is no more independent fundraising
for captive funds. Furthermore, for semi-captive and captive
funds, the funds raised from the parent are no longer
defaulted to equal the new investment activity, but, rather,
the actual fundraising activity reported. If the fundraising of
captive funds does not materialise in investments during
the investment period, the player will be called by the PEREP
analyst to reconfirm the amount raised, and the fundraising
will be restated historically if needed. In the case of captive
players that report no fundraising (there is no formal
commitment by the parent on the amount allocated to the
programme, with investments instead approved on a deal-bydeal basis), the PEREP analysts default captive fundraising to
the amount invested for the parent every reporting period.
New and total funds raised
The funds included in the statistics are:
The amount of funds raised by captives in the year and the

amount raised by independents are added together to provide
us a figure of new funds raised for the year
private equity funds making direct private equity

investments
mezzanine private equity funds
co-investment funds
rescue/turnaround funds
Total funds raised is calculated as New funds raised plus

capital gains and interest and dividends received by the
private equity firms that are available for re-investment.
The following funds are excluded from the statistics:
infrastructure funds
real estate funds
distress debt funds
primary funds-of-funds
secondary funds-of-funds
Independent and captive funds

Captive funds refers to funds that are 100% owned by
the parent organisation, while independent funds relates to
semi-captive funds (those in which the parent owns less than
100%) as well as wholly independent funds. A fund that is
100% owned by capital markets or individuals is considered
independent, so only 100% ownership by an institution
qualifies the fund as captive.
In the country sections, fundraising is captured on an

incremental basis in the first four fundraising tables. This means
that the amount raised in 2010 is the increment on any closing
or captive amount that was raised in previous years.
Funds raised by fund stage focus
Since 2008, the table on expected allocation of funds raised
has been replaced by a table on funds raised by fund stage
focus. The split by stage focus has only been available since
2007, when PEREP was set up and began collecting this
information. It is not possible to restate historical fundraising
figures on such fund focus splits, since fundraising was
previously recorded in terms of the firm.

Funds raised by type of investor

In 2010, a new types of investors has been included in the list
of sources of funds: sovereign wealth funds. Data for the
period 2007-2009 have been restated, when possible, to
reflect the contribution of sovereign wealth funds to the
European fundraising activity in the period 2007-2010.
In pre-2007 figures, funds raised from this type of investors
were classified as government agencies.
Funds raised at final closing
The last three tables in the fundraising section present the
total amount of funds raised by independent funds reaching
final closing in the reported year. Each fund is captured only
once, at the time when the full amount has been raised.
Therefore, rather than using the incremental amount-raised
approach from the previous tables, these three tables use the
cumulative amount raised since inception. Any amount raised
in a first or intermediary closing is not taken into account
in these tables, if the fund has not yet reached final closing.
Any amount raised in a first or intermediary closing in the
current or previous years is included in these tables for as
long as the fund reached final closing in the year under
review. This approach means we only consider funds that have
reached final closing with the full amount raised, enabling us
to compute meaningful average fund sizes.
Capital under management
For the purpose of this survey, only European capital under
management has been taken into account. For private equity
firms that are active globally or with offices outside Europe,
only the capital under management related to their European
activity has been taken into consideration.
Investments
Industry and market statistics
Investments and divestments are aggregated via two methods
industry statistics and market statistics.
Industry statistics are an aggregation of the figures
according to the country of location of the private equity
firms office in charge of the deal. At the European level,
this relates to investments/divestments made by European
private equity firms.
Market statistics are an aggregation of the figures according
to the location of the portfolio company. At the European
level, this relates to investments in European companies or
divestments from European companies regardless of the
location of the private equity firm.
Table of Contents
Print
The results produced can vary strongly (given that domestic

firms investing abroad are captured in the countrys industry
statistics but not its market statistics, while international
investors investing in the country are captured in its market
statistics but not its industry statistics). Each table or graph
produced on investment or divestments in the EVCA Yearbook
states the method used for aggregating the figures.
Prior to 2007, only industry statistics were produced.
An indication of market statistics was provided for the full
amount invested into a country in the table called
Geographical flows of private equity, but no further splits
by stages and sectors were available for the market figures.
Since the set-up of PEREP in 2007, accurate monitoring of
cross-border transactions has been made possible without
double counting. Therefore, further analyses for market
statistics are produced, together with further splits for
the venture, buyout and growth segments of the market.
The office of the private equity firm in charge of the deal,
which triggers the allocation of the deal to a specific country
for industry statistics, is a compulsory question on the
questionnaire. In the case of information from public sources,
it is assumed an investment done through a local office belongs
to that countrys statistics. If a firm with offices in country X
and Y makes an investment in country Y, these investments
will be attributed to country Y in both the industry and the
market statistics. If a firm has an office only in country X and
makes an investment in country Y, the investment will be
attributed to country X in industry statistics, but will be part
of country Y in terms of market statistics.
As of 2007, market statistics have captured investments made
by non-European players into Europe. The information on
these deals is entirely collected from public sources of
information, as non-European private equity firms do not
receive a survey. A table presenting only investments from
outside Europe into European companies is available in the
European section of the Yearbook on page 32.
The geographic flows of investments are still produced to
reflect the link between the industry and market statistics:
Industry statistics - domestic firms investment abroad +
non-domestic firms local investment = Market statistics.
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Modifications in investments stages
Number of companies
Historically, the venture segment was split into three stages:

seed, start-up and expansion/development.
The number of companies represents a distinct list of entities

receiving investments throughout the reporting year. So if a
company receives two investments during the year, the
number of companies will equal one, but the number of
investments will equal two.
Since 2007, however, a new stage of investment rescue/

turnaround has been carved out and presented as a standalone stage; prior to 2007, it was part of the expansion/
development stage.
And since 2008, the expansion/development stage has been
further split into two new stages: later-stage venture and
growth (see below for definitions, page 9). This change has
been carried through to classifications of a funds stage focus.
All funds that had been classified as expansion/development
funds are now classified as either later-stage venture funds or
growth funds.
Unfortunately, both for expansion/development deals and
rescue/turnaround deals made prior to 2007, no reclassification
is possible. To be able to do trend analysis on investments,
one can add growth and rescue/turnaround deals to the laterstage venture investment stage as of 2007, and in this way
analyse expansion/development data pre- and post-2007
on a comparable basis.
Measurement of investments
Important parameters applied to the measurement of
investments:
Financing for investments (whether equity or debt) are
included only if these originate from funds raised through
private equity vehicles, and the reciprocal exit amounts are
derived from private equity investments (so divestments
are captured at cost, not as proceeds).
Secured debt amounts within all investment packages
are removed, unless the debt originates from private
equity funds.
Investments/divestments of indirect funds that make
co-investments or are partially allocated to direct
investments (below 50%) are not covered.
Although ad-hoc investments in real estate or
infrastructure deals made by qualifying funds are captured,
any investments regardless of their nature made by
dedicated real estate or infrastructure funds are not
captured (as these funds are no part of the qualifying
universe of funds).
Since 2006, mezzanine funds structured as private equity
vehicles have been included in the statistics.
In some cases, subtotals and totals may not appear to add up

to the same number of companies as individual items in the
tables. This can be explained by understanding the issue of
counting distinct entities.
So for a company receiving multiple distinct rounds of
financing in a year in this example, a later-stage venture
investment of 1m by one investor in January, followed by a
management buyout of 20m in November with two investors
the tables would indicate the following:
Stage
Later-stage venture
Management buyout
Total investment
Amount
Companies
1,000
20,000
21,000
1
1
1
The total number of companies invested in corresponds to

the number in the Total Investment category under
Companies. Because any one company can be recorded
under several subcategories, the sum of all subcategories can
exceed the number of companies that receive investment.
So although the table appears to indicate the total number
of companies would be two (one later-stage venture and one
buyout) the total is recorded as one. This will only affect
counts of companies it does not affect the amounts and
makes any average more accurate.
The same applies to the total number of venture companies.
A venture company receiving both seed and start-up financing
would be recorded as one seed company and one start-up
company. However, in the total number of venture companies,
it would be counted only once.
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Buyout split
Venture and buyout & growth tables
Buyout investments are split into four classes: small, midmarket, large and mega buyouts. The classification is based
on the size of the equity portion of the buyout deal (and debt,
if provided by the private equity funds and not banks). If an
investment in a company is made by a lead investor with a
fund contribution of 160m, this amount is captured under the
large buyout segment, while his syndication partners
investment of 100m would be captured in the mid-market
segment. If we were to add up transaction values by industry
statistics, we would generate double counting due to crossborder syndicates investing in the same deal.
Some divestment tables are produced by segment (venture

and buyout & growth) depending on the original investment
stage in that company by the private equity firm.
The split of buyouts by equity value is based on the deal size

thresholds below:
Buyout segment
Small
Mid-market
Large
Mega
Equity value
<15m
15m X <150m
150m X <300m
300m
Cross-border activity
An addition was made to the geographic distribution of
investments table in the industry statistics as of 2007.
The three main countries targeted by local private equity
firms are presented to give an idea of the main cross-border
flows. Given that the countries and their order of preference
may differ from year to year, related to these countries there
are two separate sets of labels for each of the 2 years
compared.
Divestments
Number of divestments
The number of divestments is measured in the same way as
investments. Therefore, a portfolio company could have had
a number of divestments made from it in any particular year.
An additional criteria here is that if the acquisition syndicate
is made of various types of players (for example, a corporate,
a bank and a buyout firm), the statistics reflect each of the
respective divestment methods (divestments by trade sale,
sale to a financial institution and sale to another private
equity house respectively).
As with investments, subtotals and totals may not appear to
add up to the same number of companies as individual items
in the tables (see explanation in Number of investments
section above).
In divestment tables, the sum of venture and buyout & growth

amounts and number of deals is equal or less than the total
private equity investment. The latter happens if certain deals
by generalist funds have not been classified as venture or
buyout & growth.
Sectors
The sectoral classification was updated in 2007 to be mapped
to an international industry code system (NACE code Rev. 2
of 2007, Eurostat). The classification is available in the
Definitions section. The table below maps the transition
of sectoral classes:
2007 sectors and thereafter
2006 sectors
Agriculture
Life Sciences
Agriculture
Biotechnology and medical/
health related
Computer related and other
electronics related
Communications
Consumer related
Not applicable
Industrial products & services,
industrial automation and other
manufacturing
Other services
Transportation
Construction
Energy
Financial services
Not applicable
Other

Communications

Transportation
Construction
Financial services
Real estate
Unknown
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Data updates
Definitions
PEREP offers private equity firms the chance to submit

surveys and validate previously populated data captured from
public information sources at a later stage. Moreover, if a
player submits a divestment at a later stage, and the
corresponding investment has never been reported or
captured, the PEREP_Analyst will create the investment so
that no portfolio company is reflected with negative capital
flow in the database. In case some information is disclosed on
the firms websites after the cut-off for producing the EVCA
Yearbook, it is processed in the database only later.
Finally, previously submitted data can also be modified
(e.g.: if a private equity firm agrees with its investors to reduce
the size of a fund raised in a previous year, the size of the
funds closings can be reviewed downwards). For all the above
reasons, figures are updated year on year to reflect the latest
available statistics for previously released years (post 2007).
Private equity: Private equity provides equity capital to

enterprises not quoted on a stock market. Private equity
includes the following investment stages: venture capital,
growth capital, replacement capital, rescue/turnaround and
buyouts. Private equity funds are pools of capital managed in
general as closed-end, fixed-life funds doing primarily equity
capital investments into enterprises (i.e. direct private equity
funds as opposed to primary or secondary private equity fund
of funds) not quoted on a stock market.
Exchange rates
The 2009 and 2010 exchange rates used for conversions into
euros for fundraising, investments and divestments are spot
exchange rates at the transaction date, as published by the
European Central Bank. If no exchange rate is available for a
given transaction date, the exchange rate of the previous date
is used for this currency.
Venture capital: Venture capital is, strictly speaking, a subset

of private equity and refers to equity investments made for
the launch, early development, or expansion of a business.
High-tech company: A high-tech company is one that has
exclusive ownership of certain intellectual property rights
(such as design rights, patents, copyrights, etc) that are
critical elements in adding value to the products and business
of a company and are being developed in-house by the
companys permanent staff. Although companies possessing
these attributes are not limited to specific industries, they are
most frequently found in telecommunications hardware,
internet technology, computer hardware, software and computer
services, electronics, semiconductors, biotechnology,
nanotechnology, and medical instruments and devices.
Capital under management: Stricto sensu for the purpose of
this survey, this includes the total amount of funds available to
fund managers for future investments plus the amount of
funds already invested (at cost) and not yet divested. It
excludes cumulated management fees. It includes only the
direct private equity and mezzanine funds, and excludes
primary or secondary funds-of-funds, real estate funds,
infrastructure funds, distress debt funds, venture credit funds
and venture finance funds.
For the purpose of this survey, only the European capital
under management has been taken into account. For private
equity firms active globally, with offices also outside Europe,
only the capital under management relating to their European
activity has been taken into consideration.
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Type of investors (fundraising tables):
Fund stage focuses (fundraising tables):
Corporate investor: Corporations that produce products

(manufacturing companies) or deliver non-financial services.
This definition excludes banks, funds-of-funds, insurance
companies, pension funds and other asset managers.
Early-stage fund: A venture capital fund focused on investing

in companies in the early stages of their lives.
Endowment: An institution that is bestowed money (and

possibly other assets) via a donation with the stipulation to
invest it and use the gains for specific objectives so that the
principal remains intact (for perpetuity, for a defined period
of time or until sufficient assets have been accumulated to
achieve a designated purpose).
Family office: An office that provides services such as
investment management and other services (accounting,
tax and financial advice etc) to one or several families
Foundations: A non-profit organisation through which private
wealth is contributed and distributed for public purpose (most
often charitable purposes). It may either donate funds and
support other organisations or be the sole source of funding
for its own charitable activities.
Fund of funds: A private equity fund that primarily takes
equity positions in other funds.
Other asset manager: Financial institutions (other than bank,
endowment, family office, foundation, insurance company or
pension fund) managing a pool of capital by investing it across
asset classes with the purpose to generate financial returns.
This category may include direct private equity funds that
occasionally do indirect investments, but excludes funds-offunds, which are a distinct category.
Government agencies: Country, regional, governmental
and European agencies or institutions for innovation and
development (including structures such as the EBRD or EIF).
Sovereign wealth funds: state-owned investment fund
managing a pool of money derived from a country's reserves.
The funding for a sovereign wealth fund (SWF) comes from
central bank reserves that accumulate as a result of budget
and trade surpluses, and from revenue generated from
the exports of natural resources.
Later-stage fund: A venture capital fund focused on investing

in later-stage companies in need of expansion capital, usually
providing third- or fourth- (or a subsequent) round of venture
investment.
Balanced fund: A venture capital fund focused on both
early-stage and development, with no particular concentration
on either.
Growth fund: Funds whose strategy is to invest in or acquire
relatively mature companies that are looking for capital to
expand or restructure operations; they often provide the first
private equity investment in a company.
Buyout fund: A fund whose strategy is to acquire other
businesses.
Mezzanine fund: A fund that provides (generally subordinated)
debt to facilitate the financing of buyouts, frequently alongside
a right to some of the equity upside.
Generalist fund: a funds with either a stated focus of investing
in all stages of private equity investment, or with a broad area
of investment activity.
Stage definitions (investment tables):
Several financing stages can be identified in relation to the
stages of development of a private-equity-backed company.
These are described as follows and were the stages included
in the survey questionnaire:
Seed: Financing provided to research, assess and develop
an initial concept before a business has reached the start-up
phase.
Start-up: Financing provided to companies for product
development and initial marketing. Companies may be in
the process of being set up or may have been in business
for a short time, but not sold their product commercially.
Other early-stage: Financing to companies that have
completed the product development stage and require
further funds to initiate commercial manufacturing and sales.
They will not yet be generating a profit.
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Later-stage venture: Financing provided for the expansion of

an operating company, which may or may not be breaking even
or trading profitably. Later-stage venture tends to finance
companies already backed by VCs, and are therefore involved
in third- or fourth- (or a subsequent) round of financing.
Growth: A type of private equity investment most often a
minority investment but not necessarily in relatively mature
companies that are looking for capital to expand or restructure
operations, enter new markets or finance a significant
acquisition without a change of control of the business.
Growth capital tends to be a companys first private equity
financing. Additionally, most investments made by buyout
funds into venture stages would be defined as growth capital.
Bridge financing: Financing made available to a company
for the period of transition between being privately owned
and publicly quoted.
Rescue/turnaround: Financing made available to an existing
business, which has experienced trading difficulties, with a
view to re-establishing prosperity.
Secondary purchase/replacement capital: The purchase of
a minority stake of existing shares in a company from another
private equity firm or from another shareholder or
shareholders.
Refinancing bank debt: An injection of capital to reduce
a companys level of gearing.
Management buyout: Financing provided to enable current
operating management and investors to acquire existing
product lines or businesses.
Management buy-in: Financing provided to enable a manager
or group of managers from outside the company to buy in to
the company with the support of private equity investors.
Public-to-private: A transaction involving an offer for the
entire share capital of a listed target company for the purpose
of delisting the company. Management may be involved in
the offering.
Other PIPE: A private investment in public equity, as a
minority or majority stake, without taking the company
private.
Other (leveraged) buyout: Financing provided to acquire
a company (other than MBI, MBO, public-to-private or other
PIPE). It may use a significant amount of borrowed money
to meet the cost of acquisition.
Print
Secondary buyout: A secondary buyout is a form of buyout

where both buyer and seller are private equity firms or
financial sponsors (ie a leveraged buyout of a company that
was acquired through a leveraged buyout). Secondary buyouts
differ from secondaries or secondary market purchases which
typically involve the acquisition of portfolios of private equity
assets, including limited partnership stakes and direct
investments in corporate securities.
Mapping the above stages into the five main Yearbook stages
leads to the following classification:
Seed: seed
Start-up: start-up, other early stage
Later-stage venture: later-stage venture, bridge financing
Growth: growth
Rescue/turnaround: rescue/turnaround
Replacement capital: secondary purchase/replacement
capital, refinancing bank debt
Buyouts: management buyout, management buy-in,
public-to-private, other PIPE, leveraged buyout.
Mapping the above stages into the two main stages venture
and buyout & growth - leads to the following classification:
Venture deals: seed, start-up, later-stage venture
Buyout & growth deals: growth, rescue/turnaround,
replacement capital, buyouts
Amounts definition
Equity value: Stricto sensu, the amount of capital invested
to acquire shares in an enterprise. The equity value includes
equity, quasi-equity, mezzanine, unsecured debt and secured
debt financing provided by funds raised by private equity
firms focused primarily on direct investments (including
co-investment funds) or incorporated direct private equity
firms investing from the balance sheet (evergreen and direct
captive private equity programmes).
Transaction value: The sum of the equity value as described
above, to which financing coming from the rest of the syndicate
is added (LP co-investors, individuals, entrepreneurs, business
angels, management, corporates, funds-of-funds, other asset
managers and/or financial institutions), together with the
leverage (debt provided by banks or other providers). In other
words, stricto sensu transaction value is equal to enteprise
value multiplied by the percentage ownership by the acquiring
syndicate in which at least one financial sponsor (private
equity firm) is involved.

Sectoral definitions (investment tables):

For a complete picture of the sectoral classification and
its mapping to the NACE standardised sectoral classification
of Eurostat (NACE Rev. 2, 2007), go to
www.evca.eu//uploadedFiles/sectoral_classification.pdf
This link above shows the map between the old EVCA sectors,
the new 67 sectors used in the online survey by PEREP, their
grouping into the 14 sectoral classes used in the sectoral
distribution of investments in the EVCA Yearbook, and their
further grouping into the seven sectoral clusters used in the
fundraising by fund sectoral focus in the EVCA Yearbook.
Divestment methods (divestment tables):
Divestment on flotation (IPO): An initial public offering (IPO)
is the sale or distribution of a companys shares to the public
for the first time by listing the company on the stock
exchange. It is one way a private equity firm can sell its
shares and exit an investment.
Repayment of preference shares/loans: If a private equity
firm provided loans or bought preference shares in the
company at the time of investment, then their repayment
according to the amortisation schedule represents a decrease
of the financial claim of the firm into the company, and hence
a divestment.
Repayment of silent partnership: A silent partnership belongs
to the so-called mezzanine financing instruments. It is similar
to a long-term bank loan but, in contrast to a loan, a silent
partnership is subject to a subordination clause, so that in
the event of insolvency all other creditors are paid before the
silent partner. The company has to repay the partnership and
has to pay interest and possibly a profit-related compensation.
The subordination clause gives the capital the status of equity
despite its loan character. This financing instrument is
frequently used in Germany.
Sale of quoted equity post-flotation: This relates to the sale
of quoted shares only if connected to a former private equity
investment, such as the sale of quoted shares after a lock-up
period.
Sale to another private equity house: See sale to financial
institution.
Sale to financial institution: The sale of company shares to
banks, insurance companies, pension funds, endowments,
foundations and other asset managers other than private
equity firms.
Table of Contents
Print
Sale to trade buyers: The sale of company shares to industrial

investors.
Divestment by write-off: The total or partial write-down of a
portfolio companys value to zero or a symbolic amount (sales
for a nominal amount) with the consequent exit from the
company or reduction of the share owned. The value of the
investment is eliminated and the return to investors is equal
or close to -100%.
Table of Contents
Print
Contact Information
PEREP_Analytics is a joint Pan-European statistics platform of the following private equity associations: APCRI (Portugal),
AVCO (Austria), BVA (Belgium), BVK (Germany), CVCA (Croatia), CVCA (Czech Rep), DVCA (Denmark), EstVCA (Estonia),
EVCA (Europe), FVCA (Finland), HVCA (Hungary), IVCA (Ireland), LTVCA (Lithuania), NVCA (Norway), NVP (Netherlands),
PPEA (Poland), SECA (Switzerland), SEEPEA (South Eastern Europe), SLOVCA (Slovakia), SVCA (Sweden).
PEREP_Analytics is open for endorsement to the other private equity associations in Europe.
On behalf of PEREP_Analytics and its endorsing associations, EVCA wishes to thank the private equity and
venture capital firms in Europe who contributed to the survey.
For further information on the survey and/or this report please contact:
European Private Equity and Venture Capital Association (EVCA):
Address
Telephone
Fax
Contact
Bastion Tower, Place du Champ de Mars 5,

B-1050 Brussels, Belgium
+32 2 290 02 37
+32 2 725 07 04
Grgoire Samain, Research Manager
gregoire.samain@evca.eu
www.evca.eu
PEREP_Analytics:
Address
Telephone
Fax
Contact
Tech Team AKELA, IRIDE Business Park

9 - 9A Dimitrie Pompei Blvd., Building 2A2,
Sector 2 Bucharest 020335, Romania
+40 21 301 23 66
+40 21 305 14 24
Dan Magirescu, Statistics Manager
dan.magirescu@perepanalytics.eu
www.perepanalytics.eu
NVCAs Country Co-ordinators

Austria
Mrs. Judith Greiner
Ms. Raluca Rosca
AVCO
PEREP_Analytics
judith.greiner@avco.at
raluca.rosca@perepanalytics.eu
+ 43 1 526 38 05 6550
+ 40 21 301 23 68
Belgium
Mrs. Hilde Vandermeulen
Ms. Nicoleta Pirvan
BVA
PEREP_Analytics
hilde@bva.be
nicoleta.pirvan@perepanalytics.eu
+ 32 3 297 10 21
+ 40 21 301 23 55
Bosnia-Herzegovina, Montenegro, Serbia

Ms. Iuliana Furica
PEREP_Analytics
iuliana.furica@perepanalytics.eu
+ 40 21 301 23 58
Bulgaria
Ms. Irina Anghel
Ms. Iuliana Furica
irina.anghel@legal4business.ro
+ 40 21 231 08 12
+ 40 21 301 23 58
SEEPEA
PEREP_Analytics
Table of Contents
Contact Information
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Croatia
Ms. Mirna Marovic
Ms. Iuliana Furica
CVCA
PEREP_Analytics
mirna.marovic@cvca.hr
+ 385 1 482 84 66
+ 40 21 301 23 58
Czech Republic
Ms. Petra Kursova
Ms. Iuliana Furica
CVCA
PEREP_Analytics
kursova@cvca.cz
+ 420 724 34 23 95
+ 40 21 301 23 58
Denmark
Mr. Gorm Boe Petersen
Ms. Monica Biolan
DVCA
PEREP_Analytics
gbp@dvca.dk
monica.biolan@perepanalytics.eu
+ 45 72 25 55 18
+ 40 21 301 23 65
Estonia
Mr. Kristjan Kalda
Ms. Iuliana Furica
EstVCA
PEREP_Analytics
Kristjan.Kalda@baltcap.com
+ 37 2 508 79 67
+ 40 21 301 23 58
Latvia
Ms. Iuliana Furica
PEREP_Analytics
+ 40 21 301 23 58
Lithuania
Mr. Sarunas Siugzda
Ms. Iuliana Furica
LTVCA
PEREP_Analytics
sarunas.siugzda@litcapital.lt
+ 370 5 205 44 79
+ 40 21 301 23 58
Finland
Mr. Jonne Kuittinen
Ms. Ioana Birsu
FVCA
PEREP_Analytics
jonne.kuittinen@fvca.fi
ioana.birsu@perepanalytics.eu
+358 44 333 32 67
+ 40 21 301 23 54
France
Ms. Monica Biolan
PEREP_Analytics
+ 40 21 301 23 65
Germany
Mr. Attila Dahmann
Ms. Raluca Rosca
BVK
PEREP_Analytics
ad@bvkap.de
+ 49 0 30 30 69 82 15
+ 40 21 301 23 68
Greece
Ms. Raluca Rosca
PEREP_Analytics
+ 40 21 301 23 68
Hungary
Mrs Natalia Gmbs
Ms. Iuliana Furica
HVCA
PEREP_Analytics
natalia.gombos@hvca.hu
+ 36 1 475 09 24
+ 40 21 301 23 58
Ireland
Ms. Regina Breheny
Ms. Nicoleta Pirvan
IVCA
PEREP_Analytics
reginabreheny@ivca.ie
+ 353 87 051 77 54
+ 40 21 301 23 55
Italy
Ms. Nicoleta Pirvan
PEREP_Analytics
+ 40 21 301 23 55
Luxembourg
Ms. Nicoleta Pirvan
PEREP_Analytics
+ 40 21 301 23 55
Table of Contents
Contact Information
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Netherlands
Mr. Daniel Mulder
Ms. Nicoleta Pirvan
NVP
PEREP_Analytics
Mulder@nvp.nl
+ 31 20 571 22 70
+ 40 21 301 23 55
Norway
Mr. Knut T. Traaseth
Ms. Monica Biolan
NVCA
PEREP_Analytics
ktt@nvca.no
+ 47 22 700 010
+ 40 21 301 23 65
Poland
Mrs. Barbara Nowakowska
Ms. Iuliana Furica
PPEA
PEREP_Analytics
barbara.nowakowska@psik.org.pl
+ 48 22 458 84 30
+ 40 21 301 23 58
Portugal
Mr. Paulo Caetano
Ms. Iuliana Furica
APCRI
PEREP_Analytics
geral@apcri.pt
+ 351 21 382 67 16
+ 40 21 301 23 58
Romania
Ms. Irina Anghel
Ms. Iuliana Furica
SEEPEA
PEREP_Analytics
irina.anghel@legal4business.ro
+ 40 21 231 08 12
+ 40 21 301 23 58
Spain
Ms. Iuliana Furica
PEREP_Analytics
+ 40 21 301 23 58
Slovakia
Ms. Lydia Zackova
Ms. Iuliana Furica
SLOVCA
PEREP_Analytics
slovca@slovca.sk
+ 421 2 544 143 56

+ 40 21 301 23 58
Sweden
Ms. Marie Reinus
Ms. Alina Ciucardel
SVCA
PEREP_Analytics
marie.reinus@svca.se
alina.ciucardel@perepanalytics.eu
+ 46 709 20 85 79
+ 40 21 301 23 53
Switzerland
Ms. Andrea Villiger
Ms. Adriana Andronic
SECA
PEREP_Analytics
andrea.villiger@seca.ch
adriana.andronic@perepanalytics.eu
+ 41 41 724 65 75
+ 40 21 301 23 64
Ukraine
Ms. Iuliana Furica
PEREP_Analytics
+ 40 21 301 23 58
UK
Ms. Adriana Andronic
Ms. Ioana Birsu
PEREP_Analytics
PEREP_Analytics
adriana.andronic@perepanalytics.eu
ioana.birsu@perepanalytics.eu
+ 40 21 301 23 64
+ 40 21 301 23 54
Europe
Mr. Grgoire Samain
Mr. Dan Magirescu
EVCA
PEREP_Analytics
gregoire.samain@evca.eu
dan.magirescu@perepanalytics.eu
+ 32 2 290 02 37
+ 40 21 301 23 66
Disclaimer
While the PEREP_Analytics team have made every effort to ensure the reliability of the data
included in this report, they do not assume any responsibility for the accuracy of the underlying
amounts submitted by the participating private equity firms, available on their website or
information gathered from third party sources. EVCA and the cooperating national private equity
associations do not assume any responsibility with regard to use that could be made of the data
contained in this yearbook. EVCA draws the readers attention to the information in the
methodology section of this report available on the CD-Rom.
Copyright information
No part of this publication and accompanying CD-Rom may be reproduced by any process except
in accordance with the provisions of the Copyright Act 1968. Copyright enquiries should be
directed to EVCA, Tel: + 32 2 715 00 20.
Copyright EVCA May 2011
2010 Pan-European Private Equity and Venture Capital Activity
2|
2010 Pan-European Private Equity and Venture Capital Activity | Creating lasting value
Funds raised and investments - evolution
Source: EVCA/PEREP_Analytics
3|
Private equity activity quarterly evolution

(Q1 2007 = 100)
4|
Private equity funds raised - evolution

(industry statistics incremental closings during year)
5|
Concentration of capital
Total amount at final closings
6|
Funds raised quarterly evolution

(Q1 2007 = 100)
7|
Funds raised by fund stage focus

(incremental closings during year)
8|
Funds raised by type of investor in 2010

9|
Funds raised by type of investor in 2006-2010

10 |
Funds raised by type of investor 5 year trends

11 |
Funds raised by type of investor in 2010 by country

(incremental closings during year top 5 countries)
12 |
New funds raised - by geographic origin (LP country) and by fund country in 2010
13 |
Funds raised - independent funds by fund stage focus

(cumulative amount at final closing)
14 |
Funds raised in 2010 independent private equity fundraising

(cumulative amount at final closing top 5 countries)
15 |
Funds raised in 2010 independent venture fundraising

(cumulative amount at final closing - top 5 countries)
16 |
Funds raised in 2010 independent buyout & growth fundraising

(cumulative amount at final closing - top 5 countries)
17 |
Funds raised in 2010 independent funds by stage focus

(cumulative amount at final closing)
18 |
Investments - evolution
(industry statistics)
19 |
Investments - quarterly evolution

(Q1 2007 = 100)
20 |
Investments by stage - evolution

21 |
Investments by stage focus evolution

(industry statistics - % of amount)
22 |
Investments by stage focus evolution

(industry statistics - % of number of companies financed)
23 |
Investments by stage focus in 2010 by country

(market statistics - % of amount top 5 countries)
24 |
Investments by stage focus in 2010 by country

(market statistics - % of number of companies financed top 5 countries)
25 |
Investments by stage focus in 2010

(market statistics)
26 |
Average size of investment per company
27 |
Initial versus follow-on investments*

(market statistics - % number of companies)
28 |
Investments by sector focus in 2010

(market statistics - % of amount)
29 |
Investments by sector in 2010 by segment

(market statistics - % of amount)
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
30 |
Investments by sector in 2010 by segment

(market statistics - % of number of companies financed)
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
31 |
Investments by number of employees in 2010

(market statistics - % of number of companies financed )
32 |
2010 Venture investments by number of employees

(market statistics)
33 |
2010 Buyout & growth investments by number of employees

(market statistics)
34 |
Investments as % of GDP in Europe evolution

35 |
Private equity investments as % of GDP in 2010

36 |
Venture investments as % of GDP in 2010

37 |
Buyout & growth investments as % of GDP in 2010

38 |
Private equity investments as % of GDP in 2010

(market statistics)
39 |
Venture investments as % of GDP in 2010

(market statistics)
40 |
Buyout & growth investments as % of GDP in 2010

(market statistics)
41 |
Investments - industry versus market statistics in 2010
42 |
Investments by country in 2010

(% of total amount)
43 |
Investments by region in 2010

(% of total amount)
44 |
Geographical flows of investments in 2010
45 |
Divestments at cost - evolution

46 |
Divestments - quarterly evolution

(Q1 2007 = 100)
47 |
Divestments at cost - evolution

(by country of private equity firm)
48 |
Divestments by exit route in 2010

(by country of portfolio company - % of number of companies)
49 |
Divestments at cost in 2010 - by country
50 |
Divestments at cost in 2010 by sector

(by country of portfolio company excluding write-offs)
51 |
Divestments by sector in 2010 by segment

(market statistics - % amount at cost excluding write-offs)
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
52 |

(market statistics - % of number of companies excluding write-offs)
Agriculture
Communications
Construction
Consumer services
Financial services
Life sciences
Real estate
Transportation
Unknown
53 |

(market statistics - % number of companies excluding write-offs)
54 |
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

Evca Yearbook 2011

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Table of Contents

CREATING LASTING VALUE

EVCA Yearbook 2011 I 1

The fundraising challenge

20bn of funds raised (2009: 18bn; 2008: 80bn)

Despite increased distributions and an overall better

The big picture

Commitments from pension funds and funds-of-funds, which

Private equity and venture capital investment into European

(1) At cost, excluding write-offs

Investments - (market statistics) as % of GDP

EVCA Yearbook 2011 I 2

Funds raised - by type of investor 2010

Funds raised - by type of investor 2009

Sovereign wealth funds

Sovereign wealth funds

Other asset managers

General partners raising funds in 2010 still relied mainly

EVCA Yearbook 2011 I 3

Funds raised - Amount and number of funds raised at final closings

l Funds 1bn+ (Amount)

Funds <1bn (Number)

Funds 1bn+ (Number)

Private equity supported more than 4,800 European

(2) Buyouts here includes buyout, rescue/turnaround and replacement capital

Investments - Evolution of European private equity investments - Industry statistics

EVCA Yearbook 2011 I 4

Slightly less than 1,000 later-stage venture companies

About 57% of the companies financed were new investments

Note: buyout here includes buyout, rescue/turnaround and replacement capital

Investments - Initial vs follow-on investments

l Follow-on for the company

l Initial for the private equity firm

EVCA Yearbook 2011 I 5

Life sciences & healthcare topped the investment ranking

Life sciences investment was the next largest sector by value,

Investments - Venture investment by sector in Europe (% of total amount)

Investments - Buyout & growth investment by sector in Europe (% of total amount)

EVCA Yearbook 2011 I 6

Private equity supported nearly 4,000 SMEs

Investments - 2010 Venture investments by number

SME investment in the venture sector accounted for more

Investments - 2010 Buyout & growth investments

In 2010, private equity firms based outside Europe invested

Investments - Geographical flows of investments

International capital flows

(location of private equity firm)

(location of portfolio company)

EVCA Yearbook 2011 I 7

Trade sales was the second most lucrative exit method

In addition, EU based firms exited 81 non-EU companies

EVCA Yearbook 2011 I 8

Divestments - Divestments by exit method - Amount at cost - Market statistics

l Sale to another private equity house

Divestments - Divestment by sector (excluding write-offs) - % of amount

EVCA Yearbook 2011 I 9

Investments - Geographical flows of divestments

Divestments at cost by non-European players from European

of private equity firm

EVCA Yearbook 2011 I 10

Funds raised - Total funds raised 2009/2010

EVCA Yearbook 2011 I 11

Funds raised - New funds raised 2010

New funds raised