The New Zealand Private Equity and Venture Capital Monitor（二）.pdfVIP

The New Zealand Private Equity and Venture Capital Monitor First half year results — January to June 2009 Welcome to the New Zealand Private Equity and Venture Capital Monitor – first half 2009 When looking at the monitor results, activity over the first half of 2009 (1H09) has held up well against the global financial crisis and New Zealand recessionary conditions. The total investment level in 1H09 was generally consistent with the prior three quarters and the mid- market private equity sector once again led the way with both investments and divestments. Venture capital investment also held its own due to a number of angel investment deals. Although there were only two divestment deals achieved over this period, the average deal value has remained strong reflecting the challenging conditions for divestment together with the appetite to exit for the right return. Headlines – at a glance All investments summary 1200.0 1000.0 ) m $ Z N 800.0 ( d e t s e 600.0 v n i t n u 400.0 o m A 200.0 0.0 1H03 2H03 1H04 2H04 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 Venture capital Mid-market private Top-end private investment equity investment equity investment Source: NZ PE VC Monitor - first half 2009 • Total overall investment of $82.1m in 1H09 • Total mid-market private equity investment of $52.1m over seven deals • Total venture capital investment of $30.0m over 41 deals • Absence of disclosed top-end / LBO private equity deals since first half of FY07 • The announcement of a 50% investment by Quadrant Private Equity in Summerset Retirement Villages may well have represented a ‘top end’ transaction, however this has not been disclosed • This combination of disclosed and undisclosed activity leads to the observation of a robust six months for the New Zealand pr