Jaccar
jaccar

+ A sharp decline in the private equity market

Unlike many private equity and investment funds or family holding companies which have experienced large losses and capital drain from the current unprecedented financial and economic crisis, Jaccar’s portfolio has suffered relatively little and even seem rather well poised to fully benefit from the rising post-crisis recovery, always able to seek out the most promising markets in terms of growth prospects. 

In 2009, the private equity market experienced a sharp decline both in terms of fundraising and investments in France just like in the rest of the world. This over 70% drop can be accounted for by the lack of interest from high net worth individuals and family offices, as well as from institutional investors. It is also worthy to note that a number of historically successful investment funds have cut back their level of commitments.

Sources of funds raised (in € Bn) 2009 % 2009 vs. 2008
Individuals / Family offices 1.5 41% -49%
Banks 0.7 19% -77%
Insurance / Mutual Companies 0.4 11% -81%
Pension / retirement Funds 0.3 8% -85%
Funds of funds 0.4 11% -71%
Public sector 0.2 5% -71%
Corporate investors 0.0 0% -100%
Capital markets 0.0 0% -100%
Other 0.1 3% nm
  3.7 100% -71%

Source : AFIC, Grant Thornton

Due to the shortage of acquisition financing as soon as 2008, LBO transactions have more than halved with the quasi extinction of deals of more € than 100M in size. Expansion capital had been the only market segment to grow under these very strained circumstances. It is nonetheless important to note that first semester of 2010 has shown an easing in overall credit markets.
Investments volumes 2006 2007 2008 2009 2009 vs. 2008
Investments 10, 164 12,554 10,009 4,100 -59%
of which, venture capital 536 677 758 587 -23%
of which, expansion capital 1,057 1,310 1,653 1,798 9%
of which, buyout capital / LBO 8,075 10,340 7,399 1,605 -78%
< € 100 M 4,063 4,938 2,857 1,358 -52%
> € 100 M 4,012 5,402 4,542 247 -95%
of which, turnaround capital 95 84 99 84 -15%
of which, other 401 143 100 26 -74%

Source : AFIC, Grant Thornton


27/03/2012
JACCAR Holdings ventures into gas and dry bulk operating and owning
JACCAR Holdings ventures into gas and dry bulk operating and owning[...]
+ Read more


Copyright © 2010 Jaccar