Buyouts’ Post

In more than 21 years of experience as CEO, Adam Coffey built three national service companies for nine private equity sponsors. During this period, he completed 58 acquisitions; and, on average, the companies he ran delivered a five-times return on invested capital at exit. He sat down with Connor Lott to discuss the outlook for private equity in 2024, and how portfolio company management can best partner with their investors and operators. Learn Adam’s advice on how to better serve as a portfolio company CEO:

In more than 21 years of experience as CEO, Adam Coffey built three national service companies for nine private equity sponsors. During this period, he completed 58 acquisitions; and, on average, the companies he ran delivered a five-times return on invested capital at exit. He sat down with Connor Lott to discuss the outlook for private equity in 2024, and how portfolio company management can best partner with their investors and operators. Learn Adam’s advice on how to better serve as a portfolio company CEO:

𝐓𝐡𝐞 𝐈𝐏𝐎 𝐦𝐚𝐫𝐤𝐞𝐭 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐬 𝐭𝐨 𝐢𝐧𝐬𝐩𝐢𝐫𝐞 𝐨𝐩𝐭𝐢𝐦𝐢𝐬𝐦 𝐚𝐬 𝐰𝐞 𝐜𝐥𝐨𝐬𝐞 𝐉𝐮𝐥𝐲 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐍𝐚𝐬𝐝𝐚𝐪 𝐝𝐞𝐛𝐮𝐭 𝐨𝐟 2024! The #CapitalMarkets rockstars at Latham & Watkins managed the final push to take cold-storage manager, operator and REIT Lineage public with a massive IPO that was over a decade in the making. Latham's crack team not only brought the whopping $4.4 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 initial public offering across the finish line, but actually guided Lineage through the full corporate life-cycle--from funding the company to scaling, making acquisitions and, ultimately its Nasdaq debut, which is a testament to the team's wide-ranging expertise. Also playing a major part in Lineage's successful debut was the Capital Markets team at Goodwin, which represented the underwriting syndicate of 29 investment banks in the IPO. While their team may be predominantly known for its tech and life sciences savvy, it also has a strong history of advising in the real estate sector, and the Lineage IPO made history as the largest in the #REIT industry. The IPO market has been steadily improving this year after an abysmal 2023, and already sits at a roughly +135% year over year change with almost a full five months to year's end. The market of course has a long way to go before coming close to the highs set post-Covid, but it's not unreasonable to imagine a world where we are back to pacing the strong pre-pandemic market. Only time will tell how far this wave of positive movement takes us, but I'm happy to err on the side of optimism!

When it comes to investing in secondaries, can diversification ever be too much? For our upcoming private equity webinar, “Precision secondaries: how to reel in the big fish and avoid the unwanted by-catch”, on Thursday, 2nd May 2024 at 15:00 BST / 16:00 CEST, the team is joined by special guest Harriet Matthews, Funds Editor at Mergermarket to focus on in-depth analysis which demonstrates that diversification does not always deliver on its promise in secondaries. Together with Paul Newsome, Head of Investment Solutions, Ralph Büchel, CFA, Global Head of Secondaries, and David Ng, Senior Vice President in our Secondaries team (APAC), the group will also debate whether investors get better value from GP-leds or LP stakes, and why the mid-market is the best place to be in secondaries. Join us for a riveting conversation on the state of the secondaries market.  https://lnkd.in/e4JvyTGp #secondaries #privateequity #midmarket

We provide double digit returns for our investors. 📈With our acquisitions we aim for a minimum of 18-20% annual return over 3-7 years. 👉We've been able to achieve this with hundreds of units using a value add strategy that allows us to significantly boost property value and cash flow. Want to learn how to get in on these exclusive opportunities?👇 Set up a call with our team: https://lnkd.in/dd8K7czj #realestate #investing #wealth #passiveincome

Market caps of US secondaries firms compared: PitchBook data The report included the August 15 market caps of Blackstone, Ares Management Corporation, Apollo Global Management, Inc., Hamilton Lane, StepStone Group, Goldman Sachs's Petershill Partners, P10 Holdings Sdn. Bhd. and GCM Grosvenor, relative to each firm’s AUM. #Secondaries #Secondary #SecondaryMarket #AlternativeInvestments #PrivateMarkets #Ares #Apollo #Blackstone #GoldmanSachs https://lnkd.in/dPQkdtAC

Following last week’s Foley & Lardner LLP media roundtable, I was quoted in Yuliya Chernova’s The Wall Street Journal article on what’s to come in 2025 for #liquidity now that the #2024election is behind us. The election sparked excitement for many #VCs, but as I noted, the road to liquidity won’t be quick or easy. Despite initial hopes, conditions for #IPOs and M&A activity remain challenging. We’re missing critical ingredients like sustained flat interest rates and a clear IPO window. On top of that, I don’t foresee major regulatory changes around #antitrust that would open the floodgates for #startup acquisitions. The appointment of Gail Slater as new head of antitrust enforcement at #DOJ is not promising for reopening of M&A markets, a needed ingredient to kickstart #DPI for investors in venture funds and private equity sponsors, and a prerequisite for new investment. While there’s optimism for better conditions in 2025, patience will be the virtue that gets us to the promised land. The backlog of #latestage #privatecompanies shows potential, but many aren’t IPO-ready yet. A cautious yet optimistic outlook feels appropriate as we close out the year. Make sure to check out the full article for more insights - https://lnkd.in/gkCUUT2C #mergersandacquisitions #innovation #wallstreetjournal #techlaw #venturecapital #2025outlook #foleyforward #garage2global

A successful exit is what every private equity investor and management team is looking to achieve, but it requires significant preparation well in advance of the actual sale. In our experience, Marketing & Sales leaders have a critical role to play in supporting an exit. There is never a bad time to ensure your house is in order, but you should begin to focus on what’s required for exit 12-18 months out from a potential transaction. Harry von Behr explains his experience of preparing for an exit, and how to capture 'the sausage and the sizzle'. >>Link in comments #valuecreation #privateequity #exitpreparation #gotomarket #growth

https://lnkd.in/eebY8t4G A great colour piece here on Stockomendation & Investegate, a research tool that is used by so many private investors and needs to be cheered as London fights to see liquidity imporved. John Blowers Paul Roberts #capitalmarkets #liquidity

Why are private equity firms acquiring wealth managers? It’s a large and highly fragmented industry that is ripe for consolidation, explains Lauren Schy Seidman Managing Director at Stone Point Capital. Check out other great sound bites from BNY Pershing’s INSITE conference on our Bites website: https://lnkd.in/eVTRannZ #realinsite #bny #aerialview #aerialviewbites