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Europe’s private equity firms turn to US for deal opportunities

August 12, 2019 / Selin Bucak

Private equity firms based in Europe, Middle East and Africa have been splashing cash in North America in the second quarter of the year, spending €20.8bn of capital across 237 deals, as they look further afield for fresh targets. The amount spent by general partners across the pond tripled from €6.7bn in Q2 compared to the same period in 2018, according to the latest Private Equity Market Snapshot from S&P Global Market Intelligence. The number of deals also went up from 216. The interest from Emea-based private equity firms in targets in the US is not surprising. Buyout houses have been raising record amounts of cash and looking for attractive targets to spend it on. Cinven, which raised one of the largest buyout funds in Europe this year at €10bn, said it will be targeting selective investments in North America. Deals in the second quarter included Sweden-based EQT Partners’ acquisition of software provider Acumatica in the US for an undisclosed sum. Nordic ...