Issue 3 2020

Acquisition International - Issue 3 2020 35 Number and Aggregate Value (mil USD) of Real Estate Deals Globally: 2006-2020 YTD (as at 28th February 2020) Deal half yearly value (Announced date) Number of deals Aggregate deal value (m USD) H1 2020 1,180 40,936 H2 2019 3,594 132,411 H1 2019 4,019 80,921 H2 2018 3,625 94,232 H1 2018 3,129 98,831 H2 2017 2,343 92,569 H1 2017 2,627 72,901 H2 2016 2,147 51,714 H1 2016 2,811 59,649 H2 2015 2,396 58,907 H1 2015 2,206 73,444 H2 2014 2,147 71,517 H1 2014 2,137 66,383 H2 2013 2,166 78,680 H1 2013 1,719 58,055 H2 2012 1,647 42,547 H1 2012 1,557 44,271 H2 2011 1,370 21,745 H1 2011 1,257 45,425 H2 2010 1,250 28,252 H1 2010 1,320 33,257 H2 2009 1,102 52,998 H1 2009 980 32,994 H2 2008 849 32,354 H1 2008 780 32,441 World region (target) 2014 2015 2016 2017 2018 2019 2020 North America 1,764 2,164 2,470 2,316 3,675 4,944 874 Far East and Central Asia 425 507 542 609 730 828 126 Western Europe 878 1,016 946 961 1,298 1,163 111 Eastern Europe 928 673 803 854 800 368 43 South and Central America 38 36 33 40 62 74 10 Oceania 127 116 103 109 123 164 8 Africa 97 72 56 65 56 62 6 Middle East 27 17 9 13 12 8 1 Number of Real Estate Deals Globally: 2006-2020 YTD (as at 28th February 2020) Bureau van Dijk The USD 32,919 million-worth of private equity investments announced in February represented a decline of 19 per cent month-on-month from USD 40,738 million in January 2020 and of 48 per cent year- on-year from USD 63,015 million in February 2019. Similarly, the 384 deals announced in February represents a 30 per cent decline from 552 deals in January 2020 and 550 deals in February 2019. The slow start to 2020 comes in spite of 16 deals, each worth more than USD 1,000 million, being announced which, together, accounted for 56 per cent of the USD 73,657 million-worth of deals announced in 2020 to date. Two of these transactions were valued at USD 5,000 million or more; the largest featured Blackstone Group announcing plans to acquire UK student housing provider IQSA Services from Goldman Sachs (via its merchant banking division) and the Wellcome Trust for USD 6,059 million. Insight Venture Management backed the second-biggest deal of the year to date, namely the institutional buyout of Cyprus- incorporated, Switzerland-based data management technology company Veeam Software for around USD 5,000 million. In total, seven of the top 20 private equity investments by value in 2020 to date targeted companies based in the US, including Duff & Phelps, Lummus Technology, RSA Security and Instructure. Companies based in the UK, Italy, Germany, Belgium and Luxembourg also featured in the top 20 to help make Western Europe the top target region by value (USD 32,358 million) for the opening two months of the year. North America was placed second with USD 25,914 million-worth of deals, followed by the Far East and Central Asia (USD 10,099 million), which was the top region by volume, with 309 deals. In conclusion, the slowdown in private equity dealmaking in 2020 to date is thrown into stark relief against 2019, which represented a banner year as the USD 674,719 million-worth of deals announced over the 12 months represented the highest recorded since 2007. Furthermore, the start of 2020 has been negatively impacted by the coronavirus outbreak, which has rattled financial markets and recently triggered a global sell-off. There are still ten more months of the year left to see how investors and markets react to the challenges. Private Equity Number and Aggregate Value (mil USD) of Real Estate Deals Globally by Target Sector: 2006-2020 YTD (as at 28th February 2020) Number and Aggregate Value (mil USD) of Real Estate Deals Globally: 2006-2020 YTD (as at 28th February 2020) Deal monthly value (Announced date) Number of deals Aggregate deal value (m USD) February 2020 422 23,192 January 2020 758 17,744 December 2019 772 12,772 November 2019 548 29,779 October 2019 582 27,267 September 2019 722 28,991 August 2019 451 10,190 BvD sectors (target) Number of deals Aggregate deal value (m USD) Property Services 35,798 1,643,799 Construction 18,595 289,688 Business Services 261 36,484 Wholesale 90 31,569 Utilities 27 24,354 Computer Software 20 23,941 Banking, Insurance & Financial Services 135 15,019 Transport, Freight & Storage 35 14,629 Mining & Extraction 11 13,743 Chemicals, Petroleum, Rubber & Plastic 17 13,453 Biotechnology and Life Sciences 8 13,361 Travel, Personal & Leisure 107 11,037 Retail 68 10,861 Industrial, Electric & Electronic Machinery 26 7,757 Wood, Furniture & Paper Manufacturing 15 1,419 Public Administration, Education, Health Social Services 38 1,361 Food & Tobacco Manufacturing 23 922 Transport Manufacturing 2 263 Media & Broadcasting 13 118 Miscellaneous Manufacturing 3 98