Worldwide Private Equity-Backed M&A Up 88%

Here's the latest Thomson Reuters Investment Banking Scorecard.

Worldwide PE-Backed M&A Up 88%

Private Equity-backed M&A activity totals $36.3bn for year-to-date 2011, an 88% increase over this time last year and the strongest annual start for leveraged buyouts since 2008.

This week's $9.4bn buyout of the US property portfolio of Australia's Centro Properties Group by the Blackstone Group ranks as the largest worldwide leveraged buyout since Blackstone acquired Hilton Hotels for $26.7bn in July 2007.

Buyout activity in the Real Estate, Healthcare and Industrials sectors account for 66% of announced deal activity this year. Deutsche Bank, UBS and Barclays Capital top the PE-backed M&A advisory rankings for year-to-date 2011.

Americas & Europe Drive Global ECM

Bolstered by strong year-over-year growth in the Americas (118%) and Europe (35%), global equity capital markets volume totals $126.2bn for year-to-date 2011, a 37% increase over 2009 levels. Equity capital markets activity in the financial sector accounts for 35% of year-to-date activity, powered by this week's $9.6bn capital raising from Met Life, which included the disposal of AIG's 14% equity stake in the US insurer.

Goldman Sachs, which led the Met Life offering along with Citi and Credit Suisse, has picked up nearly five market share points this year, to retain the top ranking for global equity capital markets underwriting, with 12.8% of the overall market.

European Investment Grade Up 24%

This week's multi-billion investment grade offerings from ArcelorMittal, Banco Santander and Allianz brought the level of investment grade corporate debt by European issuers to $295.3bn for year-to-date 2011, a 24% increase over last year at this time.

The financial sector dominates European investment grade issuance, accounting for 86% of this year's tally. ArcelorMittal's $2.9bn offering is the second largest from a non-financial issuer this year.

Investment grade offerings from issuers in France, Spain and the United Kingdom account for 45% of year-to-date activity.

Source - Thomson Reuters

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