Financial News reported on PEU fees earned by investment banks:
Figures to August 28 show investment banks have reaped income of $10.2 billion from private equity deals so far this year, the highest level since the same period in 2007 when revenue was $13.4 billion.
JP Morgan reaped the highest amount of income from these deals, collecting $1.1 billion. Goldman Sachs is ranked second with $982 million, and Credit Suisse received $874 million in fees, according to the data provider.Fees have been driven by high levels of activity from some of the largest buyout firms in the US. Apollo Global Management is ranked first by fees paid, Carlyle Group second and Bain Capital third.
The figures include exits, new entry deals, and portfolio company M&A deals, as well as any related equity capital markets and debt capital markets loans, Dealogic said.
Top Ten PEU's are:
1. Apollo Global Management (US) - $607 million
2. Carlyle Group (US) - $485 million3. Bain Capital (US) - $442 million4. Blackstone Group (US) - $370 million5. TPG Capital (US) - $342 million6. 3G Capital Partners (Brazil) - $331 million7. CVC Capital Partners (UK) - $318 million8. Kohlberg Kravis Roberts (US) - $280 million9. Advent International (US) - $248 million10. Clayton Dubilier & Rice (US) - $219 million
Best year since 2007, which had many frothy PEU deals. What does that portend for 2014?