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WEST COAST DATA ROUND UP

WEST COAST DATA ROUND UP. Matthew Toole Buyouts West November 18, 2008. Worldwide M&A Activity down 37% - Private Equity-backed M&A declines 75% over 2007. US M&A Activity down nearly 40%; Private Equity-backed M&A declines 85% over 2007.

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WEST COAST DATA ROUND UP

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  1. WEST COAST DATA ROUND UP Matthew Toole Buyouts West November 18, 2008

  2. Worldwide M&A Activity down 37% - Private Equity-backed M&A declines 75% over 2007

  3. US M&A Activity down nearly 40%; Private Equity-backed M&A declines 85% over 2007

  4. West Coast Buyout Investments up 18% over 2007;Number of West Coast Buyout Investments Decline

  5. Private Equity Slump is a Global Phenomenon -81% -59% -4% -51% -72%

  6. Measured decline in mid-market buyouts; less reliant on global debt financing

  7. Global Buyout Investments by Sector *Data through 9/30/2008

  8. PE Activity was a Key Driver of the M&A Market and Investment Banking Fees Fees paid by Financial Sponsors Imputed Fee Estimates by Freeman & Co

  9. Global Retraction in Credit Markets Slows Buyout Activity; HY Activity down 80% over 2007 *Data through 9/30/2008

  10. Frozen Exit Markets for Venture and Buyouts US Mergers & Acquisitions US Initial Public Offerings

  11. Global Private Equity Fundraising *Data through 9/30/2008

  12. West Coast Buyout Fundraising Down 38% from 2007 levels; Number of Funds on Par with Year-Ago

  13. All calculations are done at the fund level* by Thomson Reuters based on cash flows and NAVs reported by participating LPs and GPs Cash flow database contains 1800+ US private equity funds (480+ buyout funds) Performance Methodology Definitions: • Pooled IRR: IRR of a group of funds where their cash flows have been aggregated together before IRR calculation • Investment Horizon Return: IRR calculated with Net Asset Value as capital outflow at beginning of period, Net Asset Value at end of period, and actual cash flow in between * net of management fees and carried interest

  14. US Performance Benchmarks *Data through 6/30/2008

  15. US Private Equity Performance Index *Data through 6/30/2008

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