Deutsche Bank-Thematic Research Private capital monitor Q3 and a host of...-109872790(1)

0DeutscheBankResearch|PrivateCapitalMonitor|August2024IMPORTANTRESEARCHDISCLOSURESANDANALYSTCERTIFICATIONSLOCATEDINAPPENDIX1.MCI(P)041/10/2023.UNTIL19thMARCH2021INCOMPLETEDISCLOSUREINFORMATIONMAYHAVEBEENDISPLAYED,PLEASESEEAPPENDIX1FORFURTHERDETAILS.DeutscheBankResearchPrivatecapitalmonitor:Q3andahostofrisksAugust2024LukeTemplemanResearchAnalystLuke.Templeman@db.com+442075410130GalinaPozdnyakovaResearchAnalystGalina.Pozdnyakova@db.com+442075474994Distributedon:15/08/202412:36:13GMT7T2se3r0Ot6kwoPa1DeutscheBankResearch|PrivateCapitalMonitor|August2024Summary:StrongdealmakingmomentumtobetestedbyamacroshiftSummaryandrecentdevelopments•Q2earningsofprivatecapitalmanagershighlightdealmakingandfundraisingmomentumspreadingbeyondprivatecredittoprivateequity.CEOsareupbeataboutrecentresults,withseveralfirmsreportingrecordperformancemetrics.•Buyoutsareback–Q2sawareboundinnewbuyoutdealsannouncements,aswellasapickupinLBOs’shareofnewprivatecreditloans,justasexitenvironmentnormalises.EuropeisalsoseeingstrongmomentumindealmakingandseveralfirmsarelaunchingEurope-focusedprivatecreditfunds.•Privatecredit’smomentumcontinuedtobestronginQ2,withnewentrants,fundlaunchesandmoreacquisitionssignallingtightcompetition,chieflyamongthelargestplayers.Multi-billion-dollardealscontinuetoflowinasbuyoutspickuppaceandprivatecredit’sinteres...