1744 ET - Private-equity firms last year raised $360 billion through transactions aimed at letting fund investors cash out at least a portion of their holdings, as a slowdown in dealmaking made outright asset sales more difficult, according to Bain & Co. "Incredibly, 30% of the companies currently in buyout portfolios have undergone some sort of liquidity event," the consulting firm says. As examples, it cites sales of minority stakes and recapitalizations of portfolio companies, as well as secondary-market deals and asset-backed loans. "Still, none of this will be sufficient to alleviate the hangover from the industry's two-and-a-half-year exit slowdown," Bain says. Cash distributions by buyout funds as a share of the net asset values of their portfolios dropped to 11% last year, the lowest level in more than a decade. (luis.garcia@wsj.com; @lhvgarcia)
(END) Dow Jones Newswires
March 04, 2025 17:44 ET (22:44 GMT)
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