Data & Intelligence

Year-End 2017 Global Private Capital Industry Statistics

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Fundraising highlights from EMPEA’s Year-End 2017 Industry Statistics:

  • The composition of fundraising by strategy has shifted as venture capital, infrastructure and private credit continue to gain ground. In line with long-developing trends, the growth equity share of capital raised by EM funds was just 25% over the most recent two-year period (2016-2017), compared to 41% in 2008-2009 and 51% in 2010-2011. Venture capital funds led an upturn in fundraising for first-time teams in 2017, especially in MENA, China and India.
  • Private credit fundraising surpassed all previous years on record in 2017. GPs raised US$7.3 billion for EM private credit funds, beating the previous high of US$6.6 billion raised in 2015 and illustrating growing investor interest in credit-oriented strategies.

Investment highlights from EMPEA’s 2017 Year-End Industry Statistics:

  • Consumer services led all other sectors for investment in 2017 at US$17.9 billion in disclosed capital invested, nearly triple the 2008 total. The two largest investments recorded in 2017—Hillhouse Capital Management and CDH Investments’ US$2.2 billion buyout of Belle International (China) and Mid Europa Partners, Cinven and Permira’s US$2 billion acquisition of Allegro (Poland)—were both in the e-commerce segment. Over the last decade, capital deployed in consumer services (inclusive of retail, media and travel) has risen at a faster rate than in any other industry category, surpassing both utilities (including power) and health care.
  • Large transactions have accounted for a higher share of disclosed capital invested in growth and buyout deals in recent years. The share of middle-market investments in the US$25 million to US$100 million range, declined to 14% of disclosed capital invested in 2017, compared to one-third of all capital deployed in 2012.

Exit highlights from EMPEA’s 2017 Year-End Industry Statistics:

  • In 2017, publicly disclosed exits via the public market route increased 29%, year-on-year, whereas strategic sales and secondary sales both declined by 29% and 21%, respectively. However, higher levels of global equity market volatility in 2018 may have an impact on fund managers’ plans going forward.
  • Latin America and CEE & CIS stand out amid the public market exits revival of 2017. Fund managers completed public market exits for 14 Latin America-based companies, including 11 IPOs. Fund managers in Central & Eastern Europe followed suit, with 5 private capital-backed IPOs across exchanges in the United Kingdom, Poland, Hungary and Turkey.
As a Founding Member Firm of EMPEA , I am proud of what the organization achieved. I look forward to playing an active role on the Board of Directors as we enter our next phase.

Drew Guff | Managing Director and Founding Partner, Siguler Guff & Company

I’m honored to join fellow industry pioneers in the leadership of an unparalleled network, filled with first movers, shaping the future of industries and communities.

Dr. Andrew Kuper | Founder and CEO, LeapFrog Investments

EMPEA's market and industry intelligence opens doors to new sources of capital.  I look forward to the future success of EMPEA and its members

Torbjorn Caesar | Senior Partner, Actis

While there are certainly challenges for the industry, the opportunities abound in our target markets and globally, making a global association like EMPEA more relevant than ever.

Drew Guff | Managing Director & Founding Partner, Siguler Guff & Company

The developed markets have no equivalent to the role EMPEA is playing as a convener and source of trusted information in the emerging markets.

David Rubenstein | Co-Founder and Managing Director, The Carlyle Group