DHR International

Structural Trends for PE firms

Private Equity Practice Group Presentation

Public-to-

Private

Exit Activity

Fund-raising

New Pipeline

• Deal count down 11%

• Assets sold in 2013 prices rise.

• Up by 9%

• First-time asset sales

• Up by 21%

• Fundraising bifurcated.

• Go broader, deeper

• Deal activity high

• Minority stakesAct

iviti

esO

utco

mes

• DELL

• Heinz

• GP’s extra equity.

• Sell shares of public companies

• Few reach the target.

• PE funds > Public Equity Markets

• Blackstone (Crocs)

• Attract Diversity

Groundwork Trends Acquisitions /Exits Management PE w/

DHR Internship Sources

DHR International

Restaurant Chains

•Golden Gate Capital pursuing Red Lobster and T.G.I. Friday's

IT Security/Netowkr Management •Tolt Solutions, backed by Clearlake Capital Group, acquires

Unity Managed Network Services division of iPass.

Financial Firms •Friends Life Group sells its wealth management arm to The Blackstone Group.

Private Equity Practice Group Presentation

Groundwork Trends Acquisitions /Exits Management PE w/

DHR SourcesInternship

DHR International Private Equity Practice Group Presentation

Smaller is Bigger Now• Jeffrey Mayer, who heads up Deutsche Bank's Corporate Banking & Securities for North

America, is reportedly leaving his position to join Cerberus Capital Management.

Groundwork Trends Acquisitions /Exits Management PE w/

DHR Internship Sources