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👋 Longtime investor and semiconductors exec Lip-Bu Tan is seeking $50 million for a new VC firm named Salience Capital Partners, filings show. The AI boom has lifted demand for newfangled chips. Read more
⚔️ Data centers are a double-edged sword for carbon and emission technologies, according to our latest Emerging Tech Research. These facilities may drive investment in the vertical, but they also create competition for clean energy resources that are vital to many carbon and emissions technologies. Get the report
Plus...
• A strong quarter for buyout fund indicators
• Emerging managers hit a new low | | | | | |
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| PE's comeback hits a speed bump | | After a two-year hiatus, the US PE market sprung to life in 2024. Both deal value and count saw a double-digit rise compared with the previous year. Exit activity also bounced back from a period of doldrums where exit value plummeted nearly 70% from peak to trough. PitchBook analysts see 2024 as a pivotal year of recovery for the industry.
But December's dip has our analysts raising a caution flag about the speed and magnitude of the dealmaking momentum. Our 2024 Annual US PE Breakdown, sponsored by Stout, explores the latest trends in the industry, including the factors prompting the recovery and challenges that remain. | | | | | | | |
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| A message from PitchBook Data | | |
| Ready to engage top PE and VC audiences? | | Our 2025 PitchBook Media Kit offers service providers direct access to 2.1 million engaged professionals through our targeted newsletters and exclusive reports. Backed by PitchBook's trusted global data, our sponsorships amplify your brand via custom reports, asset class insights, website and native content partnerships.
See what's new for 2025 | | | | | | | |
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| Emerging GPs no longer closing more VC funds than experienced peers | |  | | (Chloe Ladwig/PitchBook News) | | | | For the first time in a decade, experienced managers closed more funds than emerging managers. It's the latest sign in what's been an absolutely abysmal environment for them. Citing ballooning valuations, economic headwinds and larger firms outpacing them, emerging managers hope 2025 is a better year. | | | | | | | | | Buyout fund indicators are strong, but volatility looms | | PitchBook's Buyout Replication Portfolio—a proxy for buyout fund performance—ended 2024 on a strong note, but there are signs of volatility ahead. - While small-cap stocks rose sharply following Donald Trump winning the US presidential election, there has been increased volatility heading into 2025, and most of those gains were erased before the end of the year.
- The BRP outperformed the sector- and leverage-adjusted Russell 2000 Index, returning 9.6% for the quarter and 19.7% for the year. The Russell 2000 Index slightly underperformed the S&P 500 Index.
- Two of the companies in the BRP—SecureWorks and BrightCove—reached agreements in Q4 to be taken private.
| | | | | | | | | Europe's VCs enter 2025 with high hopes amid AI fever, IPO recovery | |  | | (Anna Efetova/Getty Images) | | | After a disappointing year for Europe's VC market, 2025 is expected to bring better news as macroeconomic conditions improve and AI spurs a gold rush of dealmaking.
We reached out to investors active in Europe for their thoughts on what the future holds for European VC. | | | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 49 Deals | 168 People | 56 Companies | 7 Funds | | | | | | |
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The Daily Benchmark:
2018 Vintage Global Funds-of-Funds | | | | | | |
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| PitchBook webinar: The Allocator's Atlas | | The Allocator's Atlas is a specialized webinar series designed for LPs to gain valuable insights and expert perspectives into effectively navigating investment strategies and portfolio management.
With over $15 trillion in total assets under management, the private markets are a formidable force in global investing. As traditional institutional investors are no longer increasing allocations to private equity, private credit, and real assets on average, private wealth is emerging as the next frontier for growth in the industry. The key question for investors and advisors is: How should you consider your exposure beyond the traditional 60/40 investment portfolio?
Register now to secure your spot. | | | | | | | |
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TJC is considering a sale or IPO of mobile communications company Silvus Technologies, which could be valued at up to $5 billion, Bloomberg reported.
NGP Energy Capital Management is exploring a sale of Camino Natural Resources, a US-based natural gas producer, with a potential $2 billion valuation, Reuters reported.
Sound Point Capital Management is weighing a sale of Global Lending Services, which specializes in auto financing and loans and could be valued at over $1 billion, Bloomberg reported.
Onchain ad and attribution platform developer Spindl has been acquired by crypto exchange company Coinbase.
Unilever is considering an IPO of its ice cream business in the US, Bloomberg reported.
Strategic Value Partners started the sale process of Spanish steelmaker Celsa Group, Bloomberg reported.
Restaurant chain Twin Peaks, which is owned by Fat Brands, listed on Nasdaq after an IPO that valued the company at over $1.2 billion, Axios reported.
Ardian is considering a sale of consulting and quality control company Trigo, which could be valued at around €600 million in a deal, Bloomberg reported. | | | | | |
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Goldman Sachs Asset Management is launching a climate-focused credit fund with a $3 billion target, Bloomberg reported.
AI-focused VC firm Conviction Partners closed on $230 million for its second fund, TechCrunch reported.
VC firm Cybernetix Ventures, which invests in robotics startups, is targeting more than $100 million for its second fund, Axios reported. | | | | | |
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