Tuesday 31 December 2019

Dow Jones 2019 private equity performance ranking

Oh, I've had a migraine since yesterday - the first one in ages - so if I make even less sense than unusual, dear reader(s), that's the reason. 'Goggins got back on the log, boss, even when he was vomiting blood.' Yes, Voice. And I'm doing this! Christ. I'm not giving up, son.

Paris, December 23rd, 2019: Thoma Bravo, Clayton, Dubilier & Rice and Genstar Capital Partners have secured the top three spots respectively in the 2019 HEC-DowJones Private Equity Performance Ranking.

Yeah, er ... the 23rd. An old PR email. So what? Everyone is still on holiday. But I'm working. I'm working with my brain split in half. And I'm back on the blog!

HEC Paris Business School and DowJones joined forces in 2009 to publish an annual ranking of PE firms based on their historic performance and expected future competitiveness respectively, aiming to answer the question "Which firms have performed the best for their investors?"

That's a good question, man. I have a better question though: What are the best pills for a headache/migraine? I always take Anadin Extra - out of habit, mainly. I feel a bit sick now. Maybe I should take a rest. 'Ha! You've hardly done anything yet, boss. Get back on the blog!' Okay, okay. I'm back on the blog.

This year's ranking lists the world’s top PE firms in terms of aggregate performance, based on all buyout funds raised between 2006 and 2016.

Nice.

In total, data from 497 PE firms and the 891 funds collectively raised over the ten-year period with an aggregate equity volume of $1.380tr was analyzed by Olivier Gottschalg, Professor of Strategy and Business Policy at HEC Paris Business School.

And does he have anything to say?

The ranking draws on a comprehensive set of data on PE fund performance provided by Preqin and sourced directly from PE firms, and uses a unique methodology to calculate the aggregate performance of each based on difference performance measures for all the funds managed by the firm. The method in use was also able to aggregate performance across vintage years, and considers relative and absolute returns.

Jesus! I said does our Olivier have anything to say?!

Professor Gottschalg says: "The Private Equity industry has attracted increasing investor interest over the last years, yet little is known about the true performance and competitive behaviour of the key PE firms. The HEC Dow Jones PE Rankings shed light on the greatest outperformers to illustrate which strategies are most successful over a full decade."

Thank you! That wasn't so difficult, was it?

Oh, about HEC Paris ...

Specializing in education and research in management sciences, HEC Paris offers a complete and unique range of academic programs for the leaders of tomorrow: the Grande Ecole program, Specialized Masters and MSc, Summer School programs, the MBA, Executive MBA and TRIUM Global Executive MBA programs, the Ph.D. program and a wide range of programs for executives and managers. Founded in 1881 by the Paris Chamber of Commerce and Industry, HEC Paris has a full-time permanent faculty of 140 professors, 4,500 students and 8,000 managers in executive education programs every year.

And that's the ENDS of that, thank God! 'Have a rest, boss.' No! No, no, no. I must keep working.

...

Anything else? Yes. I need a cheese sandwich. Fortunately, there's a cheese sandwich in the fridge. Maybe I'll feel better after lunch.