2022-03-09-Bain-2022年全球私募股权市场报告_84页_5mb

报告摘要

Global Private Equity Report 2022 Summary

Bain & Company's Private Equity Role

Bain & Company is a leading private equity consultant with a global network, supporting clients on deal generation, due diligence, value creation, and exits. The firm helps large funds raise capital and develop sector-specific strategies.

Private Equity Market in 2021

Record-Breaking Year: Deal value reached $1.1 trillion, up 80% from 2020, driven by post-COvid liquidity surplus.
Deal Trends: Focus shifted to technology and tech-enabled sectors; average deal size exceeded $1 billion.
Public-to-Private Deals: Surged to $469 billion, with high multiples (EV/EBITDA around 19x), but smaller than pre-2006 bubble deals.

Fund-Raising and Returns

Fund-Raising: Usual strength continued; buyout funds raised $387 billion, with larger funds dominating.
Returns: Outperformed public markets, especially in short horizons. Multiple expansion was a key driver (56% of returns from 2016-2021).

Geographic Growth

Asia-Pacific: Grew faster than North America and Europe, now at 30% of total assets under management.
ESG Challenge: Limited Partners (LPs) increasingly weave ESG into strategies, but measurement gaps hinder performance tracking.

Specialized Investing and Tech Focus

Growth Equity: Expanded rapidly, comprising 82% of traditional buyout deal volume.
Software Sector: Dominated deals and returns due to stickiness, high margins, and the shift to SaaS.
Tech Due Diligence: Must go beyond basics, integrating with commercial and financial due diligence for comprehensive risk and opportunity assessment.

Inflation and Future Challenges

Inflation Impact: Rising interest rates threaten multiple expansion; private equity must pivot to organic growth and margin improvements.
Conclusion: Differentiation and specialized expertise are crucial amid evolving market dynamics.

This summary highlights key trends, including the shift to technology-driven investing, sustainable performance through sector focus, and the pressures of inflation.

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