Private equity firms are cashing in their profits at record paces. New data from Preqin shows that only two-thirds of the way into the second quarter, private equity exits have already exceeded the previous record set in the fourth quarter of 2010.
To date this quarter, there have been 201 private equity exits globally, totalling $85-billion. In the fourth quarter of 2010 there were 325 exits worth $81-billion. The big numbers can be attributed to firms who jump at the opportunity to sell while there's market appetite.
These exits have been particularly common in Europe, where they total $58-billion.
The largest of this quarter's exists comes from Nordic Capital, DLJ Merchant Banking and Partners and Avista Capital Partners who sold Nycomed to Takeda Pharmaceutical Co. for $9.6-billion Euros. Other big deals include Glencore International's initial public offering and Microsoft's purchase of Skype.
Onex's exit from Husky Injection Molding Systems has cracked the top 10 list of exits this quarter, ranking eighth with a value of $960-million (U.S.)
A total of $77-billion worth of exits were recorded in the first quarter of 2011.