Emily Burleson

Seattle

Private Equity Reporter at PitchBook

Senior LNG reporter for @ICISOfficial. @UHouston alumna. she/her

Articles

Commentary: Innovation is Rural

Apr 23, 2024 | dailyyonder.com | Essence Smith |Daniel Elkin |Emily Burleson

Rural America is teeming with innovation, opportunity, and solutions to many flawed economic policies. And it always has been. Counter to the common narrative of the decline of all things rural, both history and experience tell a different story. Because necessity is the mother of invention, rural America has always been and continues to be, the most experienced national proving ground for creative deployments of capital, revitalizations at scale, and far-reaching systems change.
Take-privates on display in 2023's top mega-buyouts

Dec 13, 2023 | pitchbook.com | Emily Burleson

As lenders yanked the reins on new leveraged loans this year and borrowing became more expensive, deal multiples fell and mega-deal buyers found some enticing targets. The median enterprise value-over-revenue multiple for buyouts north of $2.5 billion was 3.2x in the 12 months that ended in Q3, according to PitchBook’s latest US PE Breakdown. That’s down 60% from 2022, when the median purchase price multiple for mega-deals was 4.8x.
Blackstone's PE investment plummeted in Q3

Dec 7, 2023 | pitchbook.com | Emily Burleson

In the twelve months that ended in September, Apollo Global Management and TPG were the only firms to deploy more capital than the year prior, while Blackstone, KKR, The Carlyle Group and Ares Management all deployed less, according to PitchBook's Q3 2023 US Public PE and GP Deal Roundup. Somewhat unexpected factors like increased geopolitical risk and lower visibility on the Federal Reserve's timeline for cutting interest rates made for more challenging dealmaking conditions, per the report.
Kinterra raises rare $565M mining fund aimed at energy transition

Nov 29, 2023 | pitchbook.com | Emily Burleson

A new private equity firm is betting more than half a billion dollars on the messy business of mining rare-earth metals, which are in growing demand from electric vehicle battery makers. Toronto-based Kinterra Capital plans to invest mainly in the US, Canada and Australia, partly in an effort to shift EV battery-chemical production away from China, which hosts a majority of the world's minerals processing capacity.
Private equity raises bets on Botox-dealing medspas

Nov 21, 2023 | pitchbook.com | Emily Burleson

Private equity interest in the delivery of Botox injections, laser hair removal and specialized facials across the US is growing rapidly as the medspa industry matures and investors recognize those services have become habits for many consumers. Most PE firms in the space are rolling up existing clinics under one management company, the classic buy-and-build strategy that PE firms use to create efficiencies of scale.
Treasury yield comeback threatens PE's tenuous fundraising outlook

Nov 15, 2023 | pitchbook.com | Emily Burleson

The sustained elevation of interest rates and supply dynamics in the Treasury bond market have boosted the yields of those tried-and-true investments, increasing their appeal for allocators while PE fund distributions have plummeted, according to PitchBook's latest Quantitative Perspectives report. A bond sell-off drove the yield on the 10-year Treasury note to 4.9% as of Oct. 31—the highest point since 2007.
Nothing sacred at Carlyle as firm cuts costs

Nov 7, 2023 | pitchbook.com | Emily Burleson

The Carlyle Group fell short of its own fundraising expectations in the third quarter at the same time as the asset manager laid off staff to cut tens of millions of dollars in costs. The firm raised $6.3 billion across all of its strategies in Q3, bringing total fundraising to $20 billion year to date, CEO Harvey Schwartz said during Carlyle's quarterly earnings call Nov. 7.
Top 5 most active PE investors in data centers

Nov 6, 2023 | pitchbook.com | Emily Burleson

After years of growing market share in data centers, private equity and infrastructure investors were responsible for roughly 90% of all M&A in the digital infrastructure segment in 2022, according to industry researcher Synergy Research Group. While a global electric power shortfall is constraining the growth of new data center development, technologies such as AI, gaming, streaming and self-driving cars are still encouraging demand, according to a July report from CBRE.
Healthcare staffing PE deals persist in fallout of bankruptcies

Nov 3, 2023 | pitchbook.com | Emily Burleson

Some investors have lost billions as their staffing companies, which employ healthcare workers and contract them out to medical facilities, go bankrupt. Yet others are making new moves in the sector by capitalizing on demand for travel nurses and focusing on in-network billing. Havencrest Capital Management announced Thursday its acquisition of Focus Staff Services, a Dallas-based agency for travel nurses, therapists and technicians.
3 charts: Downturn in M&A spending worsened in Q3

Oct 30, 2023 | pitchbook.com | Emily Burleson

The Federal Reserve's unexpected rate increase at the end of the quarter, the temporary threat of a government shutdown, and geopolitical tumult in the Middle East have also pushed back the industry's expectations for an M&A recovery. Once one or more of those factors recovers, preconditions are set for new deal activity, with lower valuations in some industries and sky-high piles of dry powder available for corporations and financial sponsors alike, said Tim Clarke, PitchBook's lead PE analyst.