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Private equity funds are charging higher performance fees, exiting their investments sooner and raising funds faster. The Lawbook's Claire Poole has those figures and the key players in Texas dealmaking last week.
As The Texas Lawbook has noted, capital markets activity – especially in the energy industry – has been moribund so far this year. Last week, the Austin analytics provider Drillinginfo confirmed that unsettling view. While the $22 billion worth of debt and equity raised in the first quarter was up 9% over the fourth, it was down a concerning 45% year-over-year. Drillinginfo says Wall Street is enforcing discipline in the energy sector, and in her weekly Roundup, Claire Poole describes exactly what that means.
Early last week, M&A activity for the year was lagging. Then came the $33 billion sale of Anadarko to Chevron. With that deal, everything changed – at least statistically. The equity and debt markets continue to be stingy, so what do companies do for new capital? Claire Poole has the answer, along with her weekly roundup of deals involving Texas lawyers.
M&A is down in the first quarter of 2019. That is a fact. But in the energy sector, according to Drillinginfo, it was worse than you think. Claire Poole has the startling numbers, along with her weekly roundup of Texas transactions.
Sure deals were down in Texas for the first quarter of 2019. It's not your imagination. Apparently, they were pretty much down across the globe, according to the data provider Refinitiv. But remember, the first quarter of 2018 was a particularly good one, so comparisons are relative. Moreover, there are a couple of sectors worth watching as the year progresses. Claire Poole has the numbers, as well as this week's CDT Roundup.
Baker Botts called 2018 "the year of the special situation." It was certainly that, with activists everywhere, especially in the O&G and the power and utilities markets. So what does that mean for 2019? More activist-incited M&A? Maybe. Claire Poole has the scoop along with her weekly Roundup of Texas deals.
M&A activity needs to pick up significantly, or Texas – and everywhere else – could be looking at a significant decline this year. The experts differ on the specific reasons, but their caution is unmistakable. Claire Poole has the details, as well as last week's dealmaking by Texas lawyers.
On the eve of SXSW, it seems like a good time to explore the venture capital business in Texas, especially since some major firms are using the festival’s venues in Austin to court some of the emerging VC stars. The Lawbook’s Claire Poole takes a look at some of the names to look for, along with her weekly chronicle of Texas-inflected transactions.
Year-to-date, there have been 136 deals valued at $42.58 billion - about the same number of transactions at this time last year but 46 percent less in terms of value ($78.8 billion). Capital markets activity continued to build this past week, with six transactions valued at $1.262 billion versus 14 M&A/private equity/venture capital deals worth $1.771 billion. Texas Lawbook Senior M&A Writer Claire Poole has the inside details.
With the increased influence of private equity, dealmaking in a marketplace crowded by money is skewing toward larger and larger deals. But a survey shows that a large number of private equity firms say they are ready to unload their portfolios if there is a market correction in the next 12 months. In her CDT Weekly Roundup Claire Poole explores that further, as well as last week's Texas deals.
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