THE DAILY BENCHMARK
THE DAILY BENCHMARK
2007 Vintage US Buyout Funds with IT Investments
Median IRR
11.60%
Top Quartile IRR Hurdle Rate
17.70%
1.51x
Median IVPI
Fund name
Marlin Equity Partners II
Excellere Capital Fund
Industrial Growth Partners III
Quad Partners III
*IRR: net of fees
95 Funds in Benchmark » $2.34B
Average Amount Distributed
Benchmark, Peer Group & Returns Data on 20K Funds
CORPORATE M&A IRR
35.20%
32.68%
29.44%
28.700/0
Trump meets with execs behind big M&A deals
US President-elect Donald Trump and his transition team have spent part of the
week meeting with the powers that be behind some of the largest M&A deals
currently seeking regulatory approval. On Thursday, it was AT&T (NYSE: T) CEO
Randall Stephenson's turn.
Trump singled out the telecom's $88.4 billion acquisition of Time Warner during his
campaign, vowing to block the deal if elected. However, Stephenson and Trump did not
discuss the matter during an hour-long meeting, according to The Wall Street Journal.
Rather, Trump's focus was reportedly on the potential role AT&T might play in his plans
for job creation, trade and improvements to the wider economy —a common topic in his
team's meetings with top executives.
On Wednesday, meanwhile, Trump met with executives from both Bayer (ETR: BAYN)
and Monsanto (NYSE: MON), including Bayer CEO Werner Baumann and Monsanto CEO
Hugh Grant. Bayer's $66 billion acquisition of Monsanto will require regulatory approval
from the US to move forward. The meeting focused on "the future of agriculture and
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0064755
CONFIDENTIAL SDNY_GM_00210939
EFTA01371396