Billion-Dollar Buyouts: Examining The Decade’s Top Active PE Investors In Mega-Deals by Kevin Dowd, PitchBook
Monday brought updates on two of the more massive private equity deals to be agreed upon so far in 2016. The $6.9 billion acquisition of security company ADT (NYSE: ADT) by Apollo Global Management moved one step closer to completion, as the deal’s 40-day “go-shop” period expired without ADT receiving any competing offers. It’s a very different story in the saga of Starwood Hotels (NYSE: HOT), where competition just keeps heating up. A consortium including Anbang Insurance Group, J.C. Flowers & Co. and Primavera Capital has submitted a new proposal to pay roughly $14 billion for the company, outbidding Marriott International (NASDAQ: MAR), whose previous offer had been accepted just last week.
With all that capital flying around, it seemed like a good time to look at the decade’s most active investors in deals of $1 billion or more. So far in 2016, PE firms have participated in 17 such transactions, according to the PitchBook Platform, well behind the pace of 113 closed last year. That difference is likely due in part to the recent downturn in the debt market, increasing the difficulty of securing the types of loans needed for such mammoth buyouts.
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Here are the most active PE investors in $1 billion+ deals since 2010, along with their deal counts (including add-ons):
- KKR (32)
- CVC Capital Partners (24)
- Bain Capital (22)
- The Carlyle Group (21)
- Ontario Teachers’ Pension Plan, Advent International (16)