global league - bryan cave...this is the second-ever quarterly edition of the pitchbook global...
TRANSCRIPT
GlobalLeague Tables2017
2Q
Credits & ContactPitchBook Data, Inc.
JOHN GABBERT Founder, CEO
ADLEY BOWDEN Vice President,
Market Development & Analysis
ContentGARRETT JAMES BLACK Manager, Custom
Research & Publishing
BRYAN HANSON Data Analyst
JENNIFER SAM Senior Graphic Designer
Contact PitchBook pitchbook.com
RESEARCH
EDITORIAL
SALES
COPYRIGHT © 2017 by PitchBook Data, Inc. All rights reserved. No part of this publication may be reproduced in any form or by any means—graphic, electronic, or mechanical, including photocopying, recording, taping, and information storage and retrieval systems—without the express written permission of PitchBook Data, Inc. Contents are based on information from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. Nothing herein should be construed as any past, current or future recommendation to buy or sell any security or an offer to sell, or a solicitation of an offer to buy any security. This material does not purport to contain all of the information that a prospective investor may wish to consider and is not to be relied upon as such or used in substitution for the exercise of independent judgment.
Contents
The PitchBook PlatformThe data in this report comes from the PitchBook Platform–our data
software for VC, PE and M&A. Contact [email protected] to request
a free trial.
Introduction 3
Methodology 4
PE Firms 5-11
VC Firms 12-17
Advisors/Accountants & Investment
Banks18-23
Law Firms 24-31
Acquirers 32-34
2 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
This is the second-ever quarterly edition of the PitchBook Global League
Tables. At the beginning of 2017, we decided to make this publication
quarterly, not only to save space in our flagship report series such as
the Venture Monitor, the US PE Breakdown, etc. by cutting down on the
length of tables overall, but also to provide a timelier reference for firms.
This way we can house all the essential rankings from the most active
law firms by regions to investment banks by deal type in one central
document for easier reference.
An important note to make regarding this edition of the Global League
Tables is that later this quarter we will be releasing a lenders-only
League Tables, the better to accommodate business development
company reporting cycles as well as showcase expanded lender
datasets. Accordingly, rather than release potentially shifting rankings,
we are excluding lenders from this edition. That will be due to the
necessity of the survey collection process as well as the fact that any set
of data pulled at different times may modify slightly as additional details
are discovered and added to the PitchBook Platform.
Of course, given that only one quarter has elapsed, the quarterly editions
shall likely be somewhat shorter than the full annual edition, simply as
there shan’t have been much activity of some types and in some regions.
As the release of the Global League Tables shall typically fall at the end
of the first month in a given quarter, there is ample time allowed for all
firms to get in touch with us to ensure that their placement is accurately
represented.
To that end, if you wish to contact us regarding this specific report,
please contact us at [email protected], but if you wish instead to
inquire as to our general survey process, please send your questions to
INTRODUCTION
Look up a company.
And its cap table.
And its investors.
And its EBITDA
multiples.
And its board
members.
In seconds.
The PitchBook Platform
has the data you need
to close your next deal.
Learn more at
pitchbook.com
GARRETT JAMES BLACK
Manager, Custom Research & Publishing
3 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
METHODOLOGYLEAGUE TABLES
All league tables are compiled using the count of completed deals for the specified deal type, region and/or other
criteria.
PRIVATE EQUITY DEALS The report includes all PE investments (buyout, growth, recapitalization and add-on), excluding real estate investments. Only investments made directly by PE investors or their portfolio companies are counted. Buyout deals are defined as transactions in which the PE investor receives a controlling ownership stake in the target company. Growth deals are defined as minority investments. Add-on deals are defined as acquisitions by companies with PE backing.
VENTURE CAPITAL DEALS This report includes all VC investments (including angel/seed). Only investments made directly by VCs, incubators/accelerators and angels are counted. Venture rounds tracked as accelerator/incubator are not included. As our league tables are based on round classifications, financings by investors such as corporate VC arms are included.
M&A TRANSACTIONS Eligible transaction types include control acquisitions, leveraged buyouts (including asset acquisitions solely for LBOs), reverse mergers and spin-offs. Transactions must involve SMEs or corporations, and must be a substantive transfer of control or ownership. Debt restructurings or other liquidity, self-tenders or internal reorganizations are not included.
LENDERS
Lender league tables look at completed PE deals the lender provided debt financing for in a given time period or region. The transaction must involve equity provided by a PE firm. In league tables for debt-only financings, the transaction must involve debt financing to a company that is PE-backed or VC-backed.
SERVICE PROVIDERS
Service provider (SP) league tables are compiled using the same criteria for deals as the other league tables. Transactions are not counted twice, meaning if the SP provided the same service to both the investor and company on one deal, it would only receive credit for one deal in the rankings, not two.
EXITS
Exit league tables take into account both full and partial exits via corporate acquisition, secondary PE buyout and
IPO. Dividend recapitalizations are not taken into account in the report.
INDUSTRIES & SECTORS
Companies tracked by PitchBook have a primary industry, as well as secondary industries. For this report, the primary industry was used to determine rankings by industry and sector.
US REGIONS
West Coast: Alaska, California, Hawaii, Oregon, Washington
Mountain: Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming
Midwest: Iowa, Kansas, Missouri, Nebraska, North Dakota, South Dakota
Great Lakes: Illinois, Indiana, Michigan, Minnesota, Ohio, Wisconsin
New England: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont
Mid-Atlantic: Delaware, DC, Maryland, New Jersey, New York, Pennsylvania, Virginia, West Virginia
South: Arkansas, Kentucky, Louisiana, Oklahoma, Tennessee, Texas
Southeast: Alabama, Florida, Georgia, Mississippi, North Carolina, Puerto Rico, South Carolina
EUROPEAN REGIONS
UK & Ireland: United Kingdom, Ireland, Channel Islands
DACH: Germany, Switzerland, Austria, Liechtenstein
France/Benelux: France, Belgium, Netherlands, Luxembourg
Nordic: Denmark, Faroe Islands, Finland, Greenland, Iceland, Norway, Sweden
Southern Europe: Andorra, Cyprus, Gibraltar, Greece, Italy, Malta, Monaco, Portugal, San Marino, Spain
Central & Eastern Europe (CEE): Albania, Belarus, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Ukraine
REST OF WORLD
Any country besides the United States or European nations.
For more information on our methodology, contact
[email protected] or [email protected].
4 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
Firm name Deal count
Kohlberg Kravis Roberts 20
Audax Group 20
HarbourVest Partners 19
BC Partners 16
Warburg Pincus 14
The Blackstone Group 12
Providence Equity Partners 12
The Carlyle Group 11
Genstar Capital 11
Ardian Holding 11
Vista Equity Partners 10
AlpInvest Partners 10
ABRY Partners 10
Stone Point Capital 9
GTCR 9
H.I.G. Capital 9
Business Growth Fund 9
Bain Capital 9
2Q’17 most active global PE investors
PRIVATE EQUITY FIRMS
2Q 2017’s Most Active PE Investors 5
PE Investors by Deal Location 6-7
PE Investors by Firm AUM 8
PE Investors by Deal Type 9
PE Investors by Industry 10
PE Investor Exits by Company HQ 11
Contents
Source: PitchBook
PRIVATE EQUITY FIRMS
5 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 PE INVESTORS BY DEAL LOCATION, US
Firm name Deal count
Audax Group 18
HarbourVest Partners 17
Kohlberg Kravis Roberts 10
Stone Point Capital 9
Providence Equity Partners 9
Genstar Capital 9
BC Partners 9
Warburg Pincus 8
AlpInvest Partners 8
Vista Equity Partners 7
Summit Partners 7
GTCR 7
American Securities 7
New Mountain Capital 7
Most active in US
Firm name Deal count
PNC Erieview Capital 3
PNC Riverarch Capital 2
Kinderhook Industries 2
Ridgemont Equity Partners 2
Babson Capital Management 2
Apollo Global Management 2
The Jordan Company 2
Great Hill Partners 2
Providence Equity Partners 2
GTCR 2
Spell Capital Partners 2
HarbourVest Partners 2
The Riverside Company 2
Most active in Great Lakes
Most active in Mid-Atlantic
Firm name Deal count
Summit Partners 2
HarbourVest Partners 2
BC Partners 2
Level Equity 2
Most active in New England
Firm name Deal count
HarbourVest Partners 4
Kohlberg Kravis Roberts 3
AlpInvest Partners 3
Audax Group 3
Lindsay Goldberg 3
Most active in West Coast
Firm name Deal count
Audax Group 5
Warburg Pincus 3
Most active in Southeast
Most active in Mountain & Midwest
Firm name Deal count
Audax Group 4
Blue Sage Capital 3
Trailcreek Capital Group 3
ABRY Partners 3
Most active in South
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBookSource: PitchBook
Source: PitchBook
Firm name Deal count
HarbourVest Partners 5
L2 Capital Partners 4
Providence Equity Partners 4
Audax Group 4
Genstar Capital 4
New Mountain Capital 3
Aquiline Capital Partners 3
Stone Point Capital 3
Kohlberg Kravis Roberts 3
GPB Capital Holdings 3
Warburg Pincus 3
Firm name Deal count
Canada Pension Plan Investment Board
3
L Catterton 3
Maranon Capital 2
AEA Investors 2
Inverness Graham Investments
2
CI Capital Partners 2
Madison Dearborn Partners 2
H.I.G. Capital 2
HPS Investment Partners 2
Warren Equity Partners 2
Source: PitchBook
6 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 PE INVESTORS BY DEAL LOCATION, EUROPE & ROW
Firm name Deal count
Business Growth Fund 9
Ardian Holding 8
Kohlberg Kravis Roberts 8
Bpifrance 8
IdInvest Partners 7
BC Partners 6
Advent International 6
Verdane Capital 6
The Blackstone Group 5
Equistone Partners Europe 5
Edmond de Rothschild Investment Partners
5
ABRY Partners 5
Waterland Private Equity Investments
5
Finance Wales 5
Most active in Europe
Firm name Deal count
Bpifrance 7
Edmond de Rothschild Investment Partners
5
Ardian Holding 5
BC Partners 4
IdInvest Partners 4
CVC Capital Partners 3
SWEN Capital Partners 3
MCapital Partners 3
Advent International 3
Abenex Capital 3
Main Capital Partners 3
Most active in Central & Eastern Europe
Firm name Deal count
Warburg Pincus 5
The Carlyle Group 3
The Blackstone Group 3
Caisse de dépôt et placement du Québec
3
Vista Equity Partners 3
Mill Street & Company 3
Ontario Teachers' Pension Plan
3
Most active in France & Benelux
Firm name Deal count
Business Growth Fund 9
Finance Wales 5
Kohlberg Kravis Roberts 5
The Blackstone Group 4
Endless 4
Beechbrook Capital 4
LDC 4
Most active in UK & Ireland Firm name Deal count
Waterland Private Equity Investments
3
Bregal Unternehmerkapital 3
EQT Partners 2
Deutsche Beteiligungs 2
Steadfast Capital 2
Bayerische Beteiligungsgesellschaft
2
Castik Capital Partners 2
NORD Holding 2
Most active in DACH
Firm name Deal count
Verdane Capital 5
Summa Equity 3
Agilitas Private Equity 2
Juuri Partners 2
Waterland Private Equity Investments
2
Equistone Partners Europe 2
H.I.G. Capital 2
Procuritas Partners 2
Most active in Nordics
Firm name Deal count
Finint & Partners 3
HAT Sicaf 3
Unigrains 3
Black Toro Capital 2
Alto Partners 2
Palladio Holding 2
Charme Capital Partners 2
BlueGem Capital Partners 2
IDeA Capital Funds 2
Most active in Southern Europe
Firm name Deal count
Zubr Capital 2
Most active in rest of world
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
7 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 GLOBAL PE INVESTORS BY FIRM AUMMost active $5B+ Most active $500M-$1B
Firm name Deal count
Spell Capital Partners 5
Medina Capital 5
Finance Wales 5
LaSalle Capital 4
Auctus Capital Partners 4
Main Capital Partners 4
The Stagwell Group 4
Spring Capital Partners 3
Salem Investment Partners 3
Steadfast Capital 3
Penta Capital 3
New Water Capital 3
Most active $250M-$500M
Most active $1B-$5B
Most active <$250M
Firm name Deal count
Kohlberg Kravis Roberts 20
Audax Group 20
HarbourVest Partners 19
BC Partners 16
Warburg Pincus 14
The Blackstone Group 12
Providence Equity Partners 12
Ardian Holding 11
The Carlyle Group 11
Genstar Capital 11
ABRY Partners 10
AlpInvest Partners 10
Vista Equity Partners 10
Stone Point Capital 9
Bain Capital 9
GTCR 9
H.I.G. Capital 9
Summit Partners 8
Apax Partners 8
TA Associates Management 8
IdInvest Partners 8
Advent International 8
HPS Investment Partners 8
Bpifrance 8
Source: PitchBook
Firm name Deal count
Business Growth Fund 9
Aquiline Capital Partners 7
LLR Partners 7
Firm name Deal count
Trivest Partners 5
Plexus Capital 4
Beechbrook Capital 4
Level Equity 4
Unigrains 3
Serent Capital 3
Maven Capital Partners 3
Abenex Capital 3
The CapStreet Group 3
BlueGem Capital Partners 3
Investec Bank 3
Nexxus Capital 3
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
Speyside Equity 4
L2 Capital Partners 4
Finint & Partners 3
Beech Tree Private Equity 3
Pine Street Capital Partners 3
Blue Sage Capital 3
Capital Southwest 3
MCapital Partners 3
Source: PitchBook
Firm name Deal count
CI Capital Partners 6
NewSpring Capital 6
Verdane Capital 6
Accel-KKR 5
Kinderhook Industries 5
Edmond de Rothschild Investment Partners
5
HGGC 5
Waterland Private Equity Investments
5
Gryphon Investors 4
Exponent Private Equity 4
Endless 4
Harvest Partners 4
Bregal Sagemount 4
Castik Capital Partners 4
Highlander Partners 4
GPB Capital Holdings 4
KRG Capital Partners 4
Most active $1B-$5B, continued
8 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 PE INVESTORS BY DEAL TYPEMost active in platform buyouts
Most active in growth/expansion
Firm name Deal count
Warburg Pincus 6
Business Growth Fund 5
L Catterton 4
Ardian Holding 4
Summit Partners 3
Kohlberg Kravis Roberts 3
TPG Capital 3
Firm name Deal count
Kohlberg Kravis Roberts 6
The Blackstone Group 4
Speyside Equity 4
Bain Capital 4
H.I.G. Capital 4
Bregal Unternehmerkapital 3
Golden Gate Capital 3
REL Capital 3
Main Capital Partners 3
Audax Group 3
Beechbrook Capital 3
Brookfield Asset Management 3
NewSpring Capital 3
Deutsche Beteiligungs 3
Summa Equity 3
Endless 3
Thoma Bravo 3
Exponent Private Equity 3
Mill Street & Company 3
Finance Wales 3
L2 Capital Partners 3
Firm name Deal count
Audax Group 17
HarbourVest Partners 16
BC Partners 15
Providence Equity Partners 12
Genstar Capital 11
AlpInvest Partners 10
Kohlberg Kravis Roberts 10
ABRY Partners 9
The Carlyle Group 8
Apax Partners 8
Vista Equity Partners 7
Warburg Pincus 7
GTCR 7
Hellman & Friedman 7
Advent International 7
The Riverside Company 6
The Blackstone Group 6
Stone Point Capital 6
Ardian Holding 6
Aquiline Capital Partners 6
IdInvest Partners 6
HPS Investment Partners 6Source: PitchBook
Source: PitchBook
Source: PitchBook
Most active add-on sponsors
Firm name Deal count
Madison Dearborn Partners 5
Waterland Private Equity Investments
5
TA Associates Management 5
Bain Capital 5
AEA Investors 5
CI Capital Partners 5
Kinderhook Industries 5
Apollo Investment 5
Canada Pension Plan Investment Board
5
American Securities 5
LLR Partners 5
Most active add-on sponsors, cont.
9 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 PE INVESTORS BY INDUSTRY
Firm name Deal count
Audax Group 13
Kohlberg Kravis Roberts 7
IdInvest Partners 6
The Carlyle Group 5
NewSpring Capital 5
The Stagwell Group 4
Advent International 4
AEA Investors 4
Ardian Holding 4
Edmond de Rothschild Investment Partners
4
Speyside Equity 4
Bpifrance 4
The Riverside Company 4
Business Growth Fund 4
HarbourVest Partners 4
iXO Private Equity 4
Most active in B2B Most active in IT
Most active in financial services
Most active in healthcare
Most active in energy
Firm name Deal count
Vista Equity Partners 9
Providence Equity Partners 7
Kohlberg Kravis Roberts 5
Medina Capital 5
BC Partners 5
Francisco Partners 5
TA Associates Management 5
Bain Capital 4
Level Equity 4
Ardian Holding 4
ESW Capital 4
Genstar Capital 4
Thoma Bravo 4
Firm name Deal count
Audax Group 4
Gryphon Investors 3
ABRY Partners 3
Linden Capital Partners 3
Summit Partners 3
Thomas H. Lee Partners 3
CI Capital Partners 3
LLR Partners 3
Firm name Deal count
Warburg Pincus 3
EnCap Investments 2
EIV Capital 2
BlackRock Private Equity Partners
2
The Blackstone Group 2
Brookfield Asset Management 2
Macquarie Group 2
Firm name Deal count
HarbourVest Partners 13
AlpInvest Partners 7
Hellman & Friedman 6
Stone Point Capital 6
Madison Dearborn Partners 5
HPS Investment Partners 5
Apax Partners 5
Kohlberg Kravis Roberts 4
Canada Pension Plan Investment Board
4
GTCR 4
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
L Catterton 5
Ares Management 4
BlueGem Capital Partners 3
Unigrains 3
PNC Erieview Capital 3
Ardian Holding 3
Ares Capital 3
MCapital Partners 3
Audax Group 3
Providence Equity Partners 3
Source: PitchBook
Most active in B2C
10 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 PE INVESTOR EXITS BY COMPANY HQ
Firm name Deal count
LDC 8
Ares Capital 6
ABRY Partners 6
The Carlyle Group 5
Oaktree Capital Management 5
PNC Erieview Capital 5
Ardian Holding 5
Capitala Group 5
Wexford Capital 4
PAI Partners 4
HarbourVest Partners 4
AlpInvest Partners 4
Lone Star Funds 4
Summit Partners 4
Epiris 4
Kohlberg Kravis Roberts 4
Castle Creek Capital 3
PNC Mezzanine Capital 3
Gulfport Energy 3
Ares Management 3
Merit Capital Partners 3
Triangle Capital (Raleigh) 3
BlackRock Private Equity Partners
3
Siparex Group 3
Cerberus Capital Management 3
Invesco 3
CM-CIC Private Debt 3
Audax Group 3
GTCR 3
Most active global
Firm name Deal count
Ares Capital 6
ABRY Partners 5
PNC Erieview Capital 5
Capitala Group 5
Summit Partners 4
Oaktree Capital Management 4
TA Associates Management 3
Castle Creek Capital 3
Triangle Capital (Raleigh) 3
Audax Group 3
Merit Capital Partners 3
Cerberus Capital Management 3
The Carlyle Group 3
GTCR 3
Wexford Capital 3
Kohlberg Kravis Roberts 3
PNC Mezzanine Capital 3
Marlin Equity Partners 3
Gulfport Energy 3
Most active in US
Most active in Europe
Firm name Deal count
LDC 8
Ardian Holding 5
PAI Partners 4
IdInvest Partners 3
Invesco 3
BlackRock Private Equity Partners
3
Siparex Group 3
CM-CIC Private Debt 3
Lone Star Funds 3
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
Pamplona Capital Management
3
H.I.G. Capital 3
TA Associates Management 3
Apollo Global Management 3
IdInvest Partners 3
Marlin Equity Partners 3
Most active global, continued
11 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
Firm name Deal count
Keiretsu Forum 55
New Enterprise Associates 40
Accel 35
500 Startups 32
GV 26
Kleiner Perkins Caufield & Byers
24
Sequoia Capital 21
FundersClub 20
Y Combinator 18
General Catalyst Partners 18
Bessemer Venture Partners 17
Greylock Partners 16
Innovation Works 16
GGV Capital 15
Keiretsu Capital 15
2Q’17’s most active global VC investors
VENTURE CAPITAL FIRMS
2Q 2017’s Most Active VC Investors 12
VC Investors by Deal Stage 13
VC Investors by Deal Location 14-15
VC Investors by Sector 16
VC Investor Exits by Company HQ 17
Contents
Source: PitchBook
12 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 VC INVESTORS BY DEAL STAGEMost active at angel/seed Most active at early stage Most active at late stage
Firm name Deal count
500 Startups 17
Innovation Works 15
Keiretsu Forum 14
Y Combinator 11
Keiretsu Capital 10
SOSV 10
Techstars 10
Social Capital 8
SV Angel 8
Alliance of Angels 7
General Catalyst Partners 6
High-Tech Gründerfonds 6
Deepbridge Capital 6
FundersClub 6
IrishAngels 6
Wavemaker Partners 5
Abstract Ventures 5
New Enterprise Associates 5
Kima Ventures 5
Founders Fund 5
Accel 5
Mark Cuban 5
Founder Collective 5
Right Side Capital Management
5
Accomplice VC 5
Correlation Ventures 5
Source: PitchBook
Source: PitchBook
Firm name Deal count
Keiretsu Forum 27
New Enterprise Associates 18
500 Startups 13
Accel 13
FundersClub 12
GV 12
Service Provider Capital 10
Sequoia Capital 9
Kleiner Perkins Caufield & Byers
8
Index Ventures (UK) 7
OurCrowd 7
GE Ventures 7
GGV Capital 7
Bessemer Venture Partners 7
Eclipse Ventures 6
Dell Technologies Capital 6
Johnson & Johnson Innovation - JJDC
6
Lux Capital 6
Shasta Ventures 6
Microsoft Ventures 6
Omidyar Network 6
Greycroft Partners 6
Canaan Partners 6
Intel Capital 6
Source: PitchBook
Firm name Deal count
New Enterprise Associates 17
Accel 17
Keiretsu Forum 14
Sequoia Capital 12
GV 12
Kleiner Perkins Caufield & Byers
12
Lightspeed Venture Partners 9
Norwest Venture Partners 8
OrbiMed 8
Sapphire Ventures 8
Bessemer Venture Partners 8
GGV Capital 8
General Catalyst Partners 8
Salesforce Ventures 7
Greylock Partners 7
Khosla Ventures 6
GE Ventures 6
SharesPost 5
Qiming Venture Partners 5
Trinity Ventures 5
True Ventures 5
Octopus Ventures 5
Sequoia Capital India 5
Microsoft Ventures 5
Legend Capital 5
Insight Venture Partners 5
Industrifonden 5
Andreessen Horowitz 5
Menlo Ventures 5
13 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 VC INVESTORS BY DEAL LOCATION, US
Firm name Deal count
Keiretsu Forum 42
New Enterprise Associates 37
GV 25
Kleiner Perkins Caufield & Byers
24
Accel 22
General Catalyst Partners 18
Y Combinator 16
Sequoia Capital 16
Innovation Works 16
Greylock Partners 15
Khosla Ventures 13
Andreessen Horowitz 13
GGV Capital 13
GE Ventures 13
Keiretsu Capital 12
SV Angel 12
Service Provider Capital 12
Collaborative Fund 12
Correlation Ventures 12
Most active in US
Firm name Deal count
M25 Group 5
Rev1 Ventures 5
Hyde Park Venture Partners 5
Elevate Ventures 4
Pritzker Group Venture Capital
4
Most active in Great Lakes
Firm name Deal count
Keiretsu Forum 15
Innovation Works 15
Lerer Hippeau Ventures 8
Robin Hood Ventures 8
Collaborative Fund 6
Kleiner Perkins Caufield & Byers
6
New Enterprise Associates 6
Most active in Mid-Atlantic
Firm name Deal count
General Catalyst Partners 6
OrbiMed 6
Launchpad Venture Group 5
Accomplice VC 5
Connecticut Innovations 4
GV 4
Most active in New England
Firm name Deal count
New Enterprise Associates 24
Keiretsu Forum 17
Sequoia Capital 14
GV 14
Kleiner Perkins Caufield & Byers
14
Accel 12
Khosla Ventures 12
Greylock Partners 11
Madrona Venture Group 10
Y Combinator 9
Lightspeed Venture Partners 9
Correlation Ventures 9
Andreessen Horowitz 9
Alliance of Angels 9
Battery Ventures 8
Dell Technologies Capital 8
Shasta Ventures 8
Social Capital 8
Foundation Capital 8
Lux Capital 8
Keiretsu Capital 8
Most active in West Coast
Firm name Deal count
Service Provider Capital 4
IDEA Fund Partners 3
Most active in Southeast
Firm name Deal count
Service Provider Capital 4
Kickstart Seed Fund 3
Most active in Mountain & Midwest
Firm name Deal count
Wild Basin Investments 5
LiveOak Venture Partners 3
Silverton Partners 3
ATX Seed Ventures 3
Mercury Fund 3
Capital Factory 3
Draper Associates 3
Most active in South
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
14 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 VC INVESTORS BY DEAL LOCATION, EUROPE
Firm name Deal count
High-Tech Gründerfonds 11
Deepbridge Capital 8
Almi Invest 8
Mercia Technologies 7
Kima Ventures 6
Octopus Ventures 6
Scottish Enterprise 6
Lifeline Ventures 6
Northzone Ventures 5
Tekes 5
Alven Capital Partners 5
Inveready Technology Investment Group
5
Industrifonden 5
Most active in Europe
Firm name Deal count
Target Global 2
Credo Ventures 2
Most active in Central & Eastern Europe
Firm name Deal count
Alven Capital Partners 5
Breega Capital 4
Korelya Capital 3
KPN Ventures 3
Elaia Partners 3
Kurma Partners 3
Most active in France & Benelux
Firm name Deal count
Deepbridge Capital 8
Mercia Technologies 7
Octopus Ventures 6
Scottish Enterprise 6
Oxford Capital Partners 4
Bessemer Venture Partners 4
London Co-Investment Fund 4
Accelerated Digital Ventures 4
BGF Ventures 3
Albion Capital 3
500 Startups 3
Felix Capital 3
Rainbow Seedfund 3
Most active in UK & Ireland
Firm name Deal count
High-Tech Gründerfonds 9
Holtzbrinck Ventures 4
Bayern Kapital 4
btov Partners 3
IBB Beteiligungsgesellschaft 3
Most active in DACH
Firm name Deal count
Almi Invest 8
Lifeline Ventures 6
Tekes 5
Industrifonden 4
SEED Capital Denmark 3
Most active in Nordics
Firm name Deal count
Inveready Technology Investment Group
4
Samaipata Ventures 3
LVenture Group 2
Invitalia Ventures 2
ESADE BAN 2
Innogest 2
JME Venture Capital 2
Most active in Southern Europe
Firm name Deal count
500 Startups 18
Keiretsu Forum 10
Accel 9
FundersClub 9
Sequoia Capital India 8
OurCrowd 7
Blume Venture Advisors 6
Sequoia Capital China 6
Wavemaker Partners 6
Real Ventures 6
Most active in rest of world
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
LocalGlobe 3
Seedcamp 3
Balderton Capital 3
Cambridge Innovation Capital 3
Parkwalk Advisors 3
Episode 1 Ventures 3
Amadeus Capital Partners 3
Most active in UK & Ireland, cont.
15 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 VC INVESTORS BY SECTOR
Firm name Deal count
New Enterprise Associates 22
Accel 21
500 Startups 18
Keiretsu Forum 14
Bessemer Venture Partners 14
Kleiner Perkins Caufield & Byers
13
Greylock Partners 12
General Catalyst Partners 12
GV 12
Andreessen Horowitz 11
Battery Ventures 10
Y Combinator 10
FundersClub 10
Most active in software
Firm name Deal count
Keiretsu Forum 3
Lerer Hippeau Ventures 2
RB Investments (Singapore) 2
Mountain Partners 2
Forerunner Ventures 2
Accel 2
500 Startups 2
Sequoia Capital India 2
Most active in consumer goodsFirm name Deal count
Keiretsu Forum 6
Canaan Partners 4
500 Startups 3
MVM Life Science Partners 3
OrbiMed 3
ChinaRock Capital Management
3
Innovation Works 3
Johnson & Johnson Innovation - JJDC
3
Most active in healthcare devices &
supplies
Firm name Deal count
Lux Capital 4
Sequoia Capital 3
Eclipse Ventures 3
Vintage Investment Partners 2
Keiretsu Forum 2
GV 2
Bloomberg Beta 2
Samsung Strategy and Innovation Center
2
Cisco Investments 2
Collaborative Fund 2
Gemini Israel Ventures 2
Most active in IT hardware
Firm name Deal count
OrbiMed 10
Keiretsu Forum 8
High-Tech Gründerfonds 5
Alexandria Venture Investments
5
Vivo Capital 4
Pontifax Venture Capital 4
SV Health Investors 4
GV 4
Arix Bioscience 4
Most active in pharma & biotech
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
Kima Ventures 3
Legend Capital 2
Social Capital 2
Lightspeed Venture Partners 2
Comcast Ventures 2
Balderton Capital 2
SOSV 2
Accel 2
Most active in media
Source: PitchBook
Firm name Deal count
Norwest Venture Partners 4
F-Prime Capital Partners 3
Keiretsu Forum 3
Flare Capital Partners 3
GE Ventures 3
Most active in healthcare services &
systems
Source: PitchBook
16 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 VC INVESTOR EXITS BY COMPANY HQ
Firm name Deal count
500 Startups 8
New Enterprise Associates 8
Andreessen Horowitz 6
Intel Capital 6
Western Technology Investment
6
GV 6
Insight Venture Partners 6
High-Tech Gründerfonds 5
Sequoia Capital 5
Kleiner Perkins Caufield & Byers
5
Kima Ventures 5
In-Q-Tel 4
Bessemer Venture Partners 4
SV Angel 4
SharesPost 4
Esther Dyson 4
Accel 4
Y Combinator 4
Most active global
Firm name Deal count
New Enterprise Associates 8
GV 6
Western Technology Investment
6
Andreessen Horowitz 6
500 Startups 6
Sequoia Capital 5
Kleiner Perkins Caufield & Byers
5
In-Q-Tel 4
SharesPost 4
Bessemer Venture Partners 4
SV Angel 4
Insight Venture Partners 4
Intel Capital 4
Salesforce Ventures 4
Intel Capital 4
Most active in US
Firm name Deal count
High-Tech Gründerfonds 5
Kima Ventures 4
IdInvest Partners 3
IT-Translation 2
Point Nine Capital 2
Endeavour Vision 2
European Union 2
Insight Venture Partners 2
Project A Ventures 2
Agoranov 2
Enterprise Ireland 2
Life Sciences Partners 2
Stage Capital 2
Kreos Capital 2
Holtzbrinck Ventures 2
Accel 2
Investiere 2
Balderton Capital 2
Vesalius Biocapital Partners 2
Albion Capital 2
Televenture Management 2
Capricorn Venture Partners 2
German Startups Group 2
DN Capital 2
FJ Labs 2
GrandBanks Capital 2
CM-CIC Capital Privé 2
Most active in Europe
Source: PitchBook
Source: PitchBook
Source: PitchBook
17 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
Firm name Deal count
Houlihan Lokey 30
William Blair & Company 21
KPMG Corporate Finance 18
Credit Suisse 15
Morgan Stanley 14
Lazard 14
The Goldman Sachs Group 13
GCA 13
Robert W. Baird & Co. 10
Lincoln International 10
SunTrust Banks 9
Jefferies Group 9
Harris Williams & Co. 9
Piper Jaffray 9
Raymond James Financial 8
Rothschild & Co 8
RBC Capital Markets 8
Stifel 7
ADVISORS, I-BANKS & PLACEMENT AGENTS
2Q 2017’s Most Active I-banks 18
I-banks by PE Deal Location 19
I-banks by Deal Type 20
2Q 2017’s Most Active Advisors/
Accountants by PE Deal Location21
Advisors/Accountants by Deal Type 22
M&A Advisors by Deal Location 23
Contents
Source: PitchBook
2Q 2017’s most active global I-banks
ADVISORS/ACCOUNTANTS
18 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 I-BANKS BY PE DEAL LOCATION
Firm name Deal count
Houlihan Lokey 22
William Blair & Company 17
Credit Suisse 12
SunTrust Banks 9
Robert W. Baird & Co. 9
Jefferies Group 9
Harris Williams & Co. 8
Lazard 8
Raymond James Financial 7
Lincoln International 7
Morgan Stanley 6
The Goldman Sachs Group 6
Piper Jaffray 6
BMO Harris Bank 5
Stifel 5
Evercore Group 5
Wells Fargo Securities 4
Stephens 4
BB&T Capital Markets 4
RBC Capital Markets 4
America's Growth Capital 4
Moelis & Company 4
MHT Partners 4
Allen & Company 3
Berkery, Noyes & Co. 3
KPMG Corporate Finance 3
Generational Equity 3
Cascadia Capital 3
Most active in US
Most active in Europe
Firm name Deal count
National Bank Financial 2
KPMG Corporate Finance 2
Houlihan Lokey 2
Morgan Stanley 2
William Blair & Company 1
Credit Suisse 1
Barclays Capital 1
Evercore Group 1
The Goldman Sachs Group 1
Lincoln International 1
Fairmount Partners 1
BMO Harris Bank 1
Liberum Capital 1
Raymond James Financial 1
RBC Capital Markets 1
Most active in rest of world
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
KPMG Corporate Finance 13
GCA 12
Rothschild & Co 7
Houlihan Lokey 6
Lazard 6
The Goldman Sachs Group 5
Morgan Stanley 5
Canaccord Genuity 4
Livingstone Partners 4
William Blair & Company 3
J.P. Morgan 3
Piper Jaffray 3
RBC Capital Markets 3
Credit Suisse 2
Lincoln International 2
Simmons & Company International
2
GBS Finanzas 2
Moelis & Company 2
Network Corporate Finance 2
Mooreland Partners 2
Stifel 2
Firm name Deal count
KeyBanc Capital Markets 3
SSG Capital Advisors 3
Peter J. Solomon 3
Atlas Technology Group 3
Most active in US, ctd.
19 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 I-BANKS BY DEAL TYPEBuyouts PE & VC-backed IPOs PE & VC-backed acquisitions
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
Houlihan Lokey 27
William Blair & Company 19
Morgan Stanley 14
KPMG Corporate Finance 14
Lazard 13
Credit Suisse 13
The Goldman Sachs Group 12
GCA 12
Lincoln International 10
Robert W. Baird & Co. 9
Harris Williams & Co. 9
SunTrust Banks 8
Piper Jaffray 8
RBC Capital Markets 8
Jefferies Group 7
Rothschild & Co 7
Raymond James Financial 6
Stifel 6
Moelis & Company 6
America's Growth Capital 5
BMO Harris Bank 5
J.P. Morgan 4
Wells Fargo Securities 4
BB&T Capital Markets 4
Livingstone Partners 4
Canaccord Genuity 4
Stephens 4
Firm name Deal count
Morgan Stanley 16
The Goldman Sachs Group 13
Raymond James Financial 12
Credit Suisse 11
Jefferies Group 10
RBC Capital Markets 9
Canaccord Genuity 7
William Blair & Company 7
Piper Jaffray 7
J.P. Morgan 6
Stifel 6
Barclays Capital 6
Citigroup 5
Cowen and Company 5
Wells Fargo Securities 5
Carnegie Investment Bank 5
Deutsche Bank 5
Needham & Company 5
Pacific Crest Securities 4
Credit Suisse Securities (USA) 4
Lazard 4
Simmons & Company International
4
SunTrust Banks 3
ABG Sundal Collier 3
Berenberg Bank 3
Leerink Partners 3
Robert W. Baird & Co. 3
Allen & Company 3
BMO Harris Bank 3
Evercore Group 3
Oppenheimer and Company 3
JMP Securities 3
Firm name Deal count
J.P. Morgan 11
Lazard 9
Sandler O'Neill + Partners 8
Morgan Stanley 8
Houlihan Lokey 8
Stifel 7
William Blair & Company 7
Moelis & Company 7
Piper Jaffray 7
Robert W. Baird & Co. 6
The Goldman Sachs Group 5
Lincoln International 5
Evercore Group 4
Credit Suisse 4
Jefferies Group 4
Harris Williams & Co. 3
Deutsche Bank 3
Signal Hill Capital Group 3
Centerview Partners 3
KPMG Corporate Finance 3
Stephens 3
America's Growth Capital 3
TM Capital 3
Barclays Capital 3
RBC Capital Markets 3
Needham & Company 3
20 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q’17 ADVISORS/ACCOUNTANTS BY PE DEAL LOCATIONMost active global Most active in US Most active in Europe
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
KPMG 33
PwC 31
Houlihan Lokey 30
Deloitte 25
William Blair & Company 21
BDO 17
EY 16
Morgan Stanley 14
Lazard 14
Credit Suisse 13
The Goldman Sachs Group 13
GCA 13
Barclays Capital 13
Robert W. Baird & Co. 10
Duff & Phelps 10
Lincoln International 10
Jefferies Group 9
Piper Jaffray 9
Raymond James Financial 8
SunTrust Banks 8
RBC Capital Markets 8
Mazars 8
DC Advisory Partners 8
Harris Williams & Co. 8
Rothschild & Co 8
Stifel 7
UBS 7
Bank of America 7
Firm name Deal count
Houlihan Lokey 22
William Blair & Company 17
Credit Suisse 10
Robert W. Baird & Co. 9
Jefferies Group 9
Lazard 8
SunTrust Banks 8
Barclays Capital 8
Duff & Phelps 7
Harris Williams & Co. 7
KPMG 7
BDO 7
PwC 7
Raymond James Financial 7
Lincoln International 7
Morgan Stanley 6
The Goldman Sachs Group 6
Piper Jaffray 6
Evercore Group 5
Bank of America 5
Stifel 5
BMO Harris Bank 5
Deloitte 5
RBC Capital Markets 4
UBS 4
LionTree Advisors 4
BB&T Capital Markets 4
MHT Partners 4
RSM US 4
Moelis & Company 4
Firm name Deal count
KPMG 22
PwC 20
Deloitte 19
GCA 12
EY 11
BDO 9
Mazars 8
DC Advisory Partners 7
Rothschild & Co 7
RSM UK 6
Houlihan Lokey 6
Lazard 6
KBS Corporate 5
The Goldman Sachs Group 5
CIL Management Consultants 5
Dow Schofield Watts 5
Grant Thornton 5
Morgan Stanley 5
Bain & Company 4
Canaccord Genuity 4
BNP Paribas 4
Livingstone Partners 4
21 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 ADVISORS/ACCOUNTANTS BY DEAL TYPEBuyouts
PE & VC-backed IPOs
PE & VC-backed acquisitions
Source: PitchBook
Source: PitchBook
Firm name Deal count
PwC 31
KPMG 28
Houlihan Lokey 27
Deloitte 22
William Blair & Company 19
BDO 16
EY 15
Morgan Stanley 14
Lazard 13
The Goldman Sachs Group 12
GCA 12
Credit Suisse 11
Lincoln International 10
Robert W. Baird & Co. 9
Harris Williams & Co. 8
Duff & Phelps 8
RBC Capital Markets 8
Piper Jaffray 8
Jefferies Group 7
Rothschild & Co 7
Bank of America 7
SunTrust Banks 7
DC Advisory Partners 7
UBS 7
Grant Thornton 6
Raymond James Financial 6
Mazars 6
CIL Management Consultants 6
Stifel 6
Citigroup 6
Firm name Deal count
EY 14
PwC 12
KPMG 11
Deloitte 7
BDO 4
Lazard 4
Marcum 2
Renaissance Capital 2
Grant Thornton 2
Firm name Deal count
Lazard 9
Houlihan Lokey 8
Morgan Stanley 8
Firm name Deal count
Moelis & Company 6
BMO Harris Bank 5
Livingstone Partners 4
Canaccord Genuity 4
Deutsche Bank 4
Barclays Capital 4
Bain & Company 4
RSM UK 4
J.P. Morgan 4
America's Growth Capital 4
BB&T Capital Markets 4
Clairfield International 4
Buyouts, continued
Source: PitchBook
Firm name Deal count
J.P. Morgan 8
William Blair & Company 7
Piper Jaffray 7
Stifel 7
Sandler O'Neill + Partners 7
Moelis & Company 7
Robert W. Baird & Co. 6
Deutsche Bank 6
KPMG 6
Bank of America 5
Lincoln International 5
The Goldman Sachs Group 5
EY 5
PwC 5
Deloitte 4
Citigroup 4
Guggenheim Partners 4
Jefferies Group 4
Credit Suisse 4
Evercore Group 4
Harris Williams & Co. 3
Stephens 3
TM Capital 3
BDO 3
Centerview Partners 3
America's Growth Capital 3
Barclays Capital 3
Needham & Company 3
PE & VC-backed acquisitions, cont.
22 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 M&A ADVISORS BY DEAL LOCATIONMost active global Most active in US
Source: PitchBook
Source: PitchBook
Firm name Deal count
KPMG 68
PwC 44
Houlihan Lokey 40
The Goldman Sachs Group 37
Lazard 32
Morgan Stanley 31
Deloitte 31
Bank of America 29
EY 29
BDO 27
William Blair & Company 26
J.P. Morgan 22
RBC Capital Markets 21
Lincoln International 20
Citigroup 20
Barclays Capital 19
Robert W. Baird & Co. 19
Moelis & Company 19
GCA 18
Credit Suisse 18
Stifel 18
Deutsche Bank 18
Piper Jaffray 18
UBS 15
Keefe Bruyette & Woods 15
Raymond James Financial 14
Sandler O'Neill + Partners 14
Firm name Deal count
Houlihan Lokey 28
The Goldman Sachs Group 23
Bank of America 21
William Blair & Company 20
Morgan Stanley 18
Robert W. Baird & Co. 16
Lincoln International 15
Lazard 15
KPMG 15
Sandler O'Neill + Partners 14
Piper Jaffray 14
J.P. Morgan 14
Stifel 13
Barclays Capital 13
Raymond James Financial 12
Keefe Bruyette & Woods 12
RBC Capital Markets 12
Moelis & Company 12
Jefferies Group 11
Credit Suisse 10
Citigroup 10
BDO 10
Deutsche Bank 10
Harris Williams & Co. 10
Most active in Europe
Firm name Deal count
KPMG 41
PwC 27
Deloitte 26
Firm name Deal count
EY 16
GCA 16
Lazard 15
BDO 14
Rothschild & Co 11
The Goldman Sachs Group 10
Mazars 10
Numis Securities 9
Cenkos Securities 9
FTI Consulting 9
Houlihan Lokey 9
Grant Thornton 8
Clairfield International 8
Morgan Stanley 8
KBS Corporate 8
Livingstone Partners 7
Liberum Capital 7
DC Advisory Partners 7
FinnCap 7
Citigroup 7
Source: PitchBook
Most active in rest of world
Firm name Deal count
KPMG 12
PwC 7
EY 7
Morgan Stanley 5
MNP Corporate Finance 5
Canadian Imperial Bank of Commerce
5
Canaccord Genuity 5
Source: PitchBook
Most active in Europe, cont.
23 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
Firm name Deal count
Gunderson Dettmer 119
Cooley 116
Wilson Sonsini Goodrich & Rosati
101
Fenwick & West 75
Goodwin 65
Orrick Herrington & Sutcliffe 53
DLA Piper 45
Latham & Watkins 37
McCarter & English 19
Morrison & Foerster 17
Sheppard Mullin Richter & Hampton
16
Jones Day 15
WilmerHale 14
Perkins Coie 13
Bryan Cave 13
Rousaud Costas Duran 12
Andrews Kurth Kenyon 10
2Q’17’s most active VC law firms global
LAW FIRMS
2Q 2017’s Most Active VC Law Firms 24
Law Firms by VC Deal Location 25
Law Firms by VC Sector 26
Law Firms by VC Deal Type 27
Law Firms by PE Deal Location 28
Law Firms by PE Industry 29
Law Firms by PE Deal Type 30
Law Firms in M&A by Deal Location 31
Contents
Source: PitchBook
24 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 LAW FIRMS BY VC DEAL LOCATION
Firm name Deal count
Cooley 111
Gunderson Dettmer 105
Wilson Sonsini Goodrich & Rosati
92
Fenwick & West 73
Goodwin 60
DLA Piper 39
Latham & Watkins 33
Orrick Herrington & Sutcliffe 31
McCarter & English 17
Sheppard Mullin Richter & Hampton
16
WilmerHale 14
Perkins Coie 12
Bryan Cave 11
Morrison & Foerster 11
Most active in US
Firm name Deal count
Goodwin 14
Cooley 11
Gunderson Dettmer 10
WilmerHale 6
McCarter & English 4
Foley Hoag 4
Wilson Sonsini Goodrich & Rosati
4
Latham & Watkins 4
Most active in New England
Firm name Deal count
Gunderson Dettmer 25
Cooley 24
Fenwick & West 11
Latham & Watkins 9
McCarter & English 9
DLA Piper 9
Goodwin 9
Most active in Mid-Atlantic
Firm name Deal count
Wilson Sonsini Goodrich & Rosati
70
Gunderson Dettmer 59
Cooley 59
Fenwick & West 55
Goodwin 31
Orrick Herrington & Sutcliffe 30
DLA Piper 19
Latham & Watkins 19
Sheppard Mullin Richter & Hampton
11
Perkins Coie 8
Most active in West Coast
Most active in Great LakesFirm name Deal count
Andrews Kurth Kenyon 7
Wilson Sonsini Goodrich & Rosati
6
Cooley 6
DLA Piper 5
Most active in South
Firm name Deal count
Orrick Herrington & Sutcliffe 17
Rousaud Costas Duran 12
Jones Day 10
Cuatrecasas 5
Wilson Sonsini Goodrich & Rosati
4
Latham & Watkins 3
Cooley 3
Gunderson Dettmer 3
DLA Piper 3
Most active in Europe
Firm name Deal count
Gunderson Dettmer 11
Orrick Herrington & Sutcliffe 5
Morrison & Foerster 4
Wilson Sonsini Goodrich & Rosati
4
DLA Piper 3
Goodwin 3
Cooley 2
Simpson Thacher & Bartlett 2
Most active in rest of world
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
Cooley 5
Gunderson Dettmer 3
Goodwin 2
Andrews Kurth Kenyon 2
25 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 LAW FIRMS BY VC SECTOR
Firm name Deal count
Gunderson Dettmer 63
Cooley 52
Wilson Sonsini Goodrich & Rosati
46
Fenwick & West 41
Goodwin 37
Orrick Herrington & Sutcliffe 35
DLA Piper 27
Latham & Watkins 20
McCarter & English 13
Sheppard Mullin Richter & Hampton
7
WilmerHale 7
Perkins Coie 7
Morrison & Foerster 7
Rousaud Costas Duran 6
Nelson Mullins Riley & Scarborough
5
Bryan Cave 5
Most active in software
Firm name Deal count
Gunderson Dettmer 10
Wilson Sonsini Goodrich & Rosati
8
Cooley 7
Goodwin 7
Jones Day 5
Fenwick & West 5
Most active in commercial services
Firm name Deal count
Gunderson Dettmer 5
Cooley 3
Wilson Sonsini Goodrich & Rosati
2
Orrick Herrington & Sutcliffe 2
Most active in consumer goods
Firm name Deal count
Gunderson Dettmer 5
Wilson Sonsini Goodrich & Rosati
2
Orrick Herrington & Sutcliffe 2
Most active in media
Firm name Deal count
Fenwick & West 5
Cooley 5
Gunderson Dettmer 3
Sheppard Mullin Richter & Hampton
3
Nelson Mullins Riley & Scarborough
2
Orrick Herrington & Sutcliffe 2
Most active in healthcare services &
systems
Firm name Deal count
Cooley 13
Goodwin 8
Wilson Sonsini Goodrich & Rosati
8
Latham & Watkins 6
Fenwick & West 4
Morrison & Foerster 4
WilmerHale 3
Gunderson Dettmer 3
Andrews Kurth Kenyon 2
Foley Hoag 2
Most active in pharma & biotech
Firm name Deal count
Gunderson Dettmer 5
Cooley 3
Fenwick & West 3
Wilson Sonsini Goodrich & Rosati
3
Most active in IT hardware
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
Wilson Sonsini Goodrich & Rosati
15
Cooley 5
Goodwin 3
Gunderson Dettmer 3
DLA Piper 3
Latham & Watkins 3
Jones Day 2
Rousaud Costas Duran 2
Dorsey & Whitney 2
Most active in healthcare devices &
supplies
Source: PitchBook
26 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 LAW FIRMS BY VC DEAL TYPEMost active at early stage Most active at late stage Most active exits (acq., buyout, IPO)
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
Gunderson Dettmer 53
Cooley 44
Wilson Sonsini Goodrich & Rosati
43
Goodwin 27
Fenwick & West 26
Orrick Herrington & Sutcliffe 26
Latham & Watkins 19
DLA Piper 18
Morrison & Foerster 9
Sheppard Mullin Richter & Hampton
9
Perkins Coie 8
McCarter & English 7
Jones Day 7
WilmerHale 6
Rousaud Costas Duran 5
Andrews Kurth Kenyon 5
O'Melveny & Myers 4
Bryan Cave 4
K&L Gates 4
Nelson Mullins Riley & Scarborough
3
Mills & Reeve 2
Vinson & Elkins 2
Dechert 2
Stradling Yocca Carlson & Rauth
2
Sidley Austin 2
Cuatrecasas 2
Firm name Deal count
Gunderson Dettmer 55
Cooley 50
Wilson Sonsini Goodrich & Rosati
42
Fenwick & West 36
Goodwin 31
DLA Piper 19
Latham & Watkins 16
Orrick Herrington & Sutcliffe 11
Jones Day 7
WilmerHale 6
Morrison & Foerster 5
Andrews Kurth Kenyon 4
Bryan Cave 4
Nelson Mullins Riley & Scarborough
4
Simpson Thacher & Bartlett 3
Foley Hoag 3
O'Melveny & Myers 3
Paul, Weiss, Rifkind, Wharton & Garrison
3
Fried Frank Harris Shriver & Jacobson
2
ROUSAUD COSTAS DURAN 2
Cuatrecasas 2
Perkins Coie 2
Sheppard Mullin Richter & Hampton
2
Weil, Gotshal & Manges 2
Sidley Austin 2
Firm name Deal count
Cooley 19
Goodwin 13
DLA Piper 12
Wilson Sonsini Goodrich & Rosati
11
Orrick Herrington & Sutcliffe 9
Gunderson Dettmer 9
Latham & Watkins 7
Jones Day 6
Fenwick & West 6
Kirkland & Ellis 5
Pepper Hamilton 5
Simpson Thacher & Bartlett 5
Morgan, Lewis & Bockius 5
Andrews Kurth Kenyon 4
Ropes & Gray 4
Cleary Gottlieb Steen & Hamilton
3
Paul Hastings 3
Weil, Gotshal & Manges 3
WilmerHale 3
O'Melveny & Myers 3
Davis Polk & Wardwell 3
27 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 LAW FIRMS BY PE DEAL LOCATIONFirm name Deal count
Kirkland & Ellis 71
Latham & Watkins 37
Jones Day 31
DLA Piper 30
Weil, Gotshal & Manges 29
Paul, Weiss, Rifkind, Wharton & Garrison
24
Goodwin 24
Morgan, Lewis & Bockius 23
Most active global
Firm name Deal count
Kirkland & Ellis 59
Latham & Watkins 28
Jones Day 24
Morgan, Lewis & Bockius 20
Paul, Weiss, Rifkind, Wharton & Garrison
20
DLA Piper 19
Goodwin 19
Weil, Gotshal & Manges 17
Most active in US
Firm name Deal count
Orrick Herrington & Sutcliffe 15
CMS 15
Allen & Overy 13
Weil, Gotshal & Manges 11
DLA Piper 10
Pinsent Masons 8
Most active in Europe
Firm name Deal count
Kirkland & Ellis 6
Jones Day 6
Goodwin 5
Honigman Miller Schwartz and Cohn
4
Paul Hastings 4
Most active in Great Lakes
Firm name Deal count
Kirkland & Ellis 12
Paul, Weiss, Rifkind, Wharton & Garrison
6
Morgan, Lewis & Bockius 6
Latham & Watkins 5
Jones Day 5
Goodwin 4
DLA Piper 4
Most active in Mid-Atlantic
Firm name Deal count
Kirkland & Ellis 10
Goodwin 4
DLA Piper 3
Weil, Gotshal & Manges 2
WilmerHale 2
Akerman 2
Choate Hall & Stewart 2
McDermott Will & Emery 2
Most active in New England
Firm name Deal count
Kirkland & Ellis 10
Latham & Watkins 6
Morgan, Lewis & Bockius 5
Choate Hall & Stewart 5
Honigman Miller Schwartz and Cohn
5
Greenberg Traurig 3
Weil, Gotshal & Manges 3
Vinson & Elkins 3
Willkie Farr & Gallagher 3
Jones Day 3
Locke Lord 3
Most active in South
Firm name Deal count
Stikeman Elliott 12
Davies Ward Phillips and Vineberg
6
McCarthy Tétrault 5
Kirkland & Ellis 5
Orrick Herrington & Sutcliffe 5
Most active in rest of world
Firm name Deal count
Kirkland & Ellis 8
Wilson Sonsini Goodrich & Rosati
5
Cooley 5
Morrison & Foerster 5
Goodwin 4
Most active in West Coast
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
28 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 LAW FIRMS BY PE INDUSTRY
Firm name Deal count
Kirkland & Ellis 27
Jones Day 14
Paul, Weiss, Rifkind, Wharton & Garrison
12
Latham & Watkins 11
DLA Piper 11
Honigman Miller Schwartz and Cohn
9
Orrick Herrington & Sutcliffe 9
Paul Hastings 8
Stikeman Elliott 8
McDermott Will & Emery 8
Shearman & Sterling 7
Allen & Overy 7
Most active in B2B
Firm name Deal count
Weil, Gotshal & Manges 9
Kirkland & Ellis 8
Paul, Weiss, Rifkind, Wharton & Garrison
6
CMS 6
Latham & Watkins 6
Goodwin 5
Orrick Herrington & Sutcliffe 5
Ropes & Gray 5
Morgan, Lewis & Bockius 5
Fried Frank Harris Shriver & Jacobson
4
Allen & Overy 4
Jones Day 4
Cuatrecasas 4
DLA Piper 4
Gianni, Origoni, Grippo & Partners
4
Most active in B2C
Firm name Deal count
Kirkland & Ellis 18
Latham & Watkins 11
DLA Piper 9
Goodwin 8
Willkie Farr & Gallagher 7
Paul Hastings 6
Greenberg Traurig 6
Shearman & Sterling 5
Morgan, Lewis & Bockius 5
Orrick Herrington & Sutcliffe 4
Stikeman Elliott 4
Paul, Weiss, Rifkind, Wharton & Garrison
4
Akerman 4
Jones Day 4
Cooley 4
Most active in IT
Firm name Deal count
Kirkland & Ellis 8
McDermott Will & Emery 8
Choate Hall & Stewart 5
Goodwin 5
Jones Day 4
Weil, Gotshal & Manges 4
Ropes & Gray 4
Morgan, Lewis & Bockius 3
Sidley Austin 3
Hengeler Mueller 3
Blake Cassels & Graydon 3
Most active in healthcare
Firm name Deal count
Latham & Watkins 4
Kirkland & Ellis 3
Sidley Austin 2
Vinson & Elkins 2
Weil, Gotshal & Manges 2
Thompson & Knight 2
Linklaters 2
Most active in energy
Firm name Deal count
Houthoff Buruma 7
King & Spalding 4
Morrison & Foerster 3
Weil, Gotshal & Manges 3
Most active in materials & resources
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Most active in financial services
Firm name Deal count
Kirkland & Ellis 5
Jones Day 4
Latham & Watkins 3
Simpson Thacher & Bartlett 3
Source: PitchBook
29 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 LAW FIRMS BY PE DEAL TYPEMost active in buyouts Most active in other deals Most active in exits (IPO & acq.)
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
Kirkland & Ellis 60
Latham & Watkins 32
Jones Day 30
Weil, Gotshal & Manges 27
Paul, Weiss, Rifkind, Wharton & Garrison
23
DLA Piper 22
Goodwin 22
Morgan, Lewis & Bockius 21
Orrick Herrington & Sutcliffe 20
McDermott Will & Emery 20
Paul Hastings 18
Stikeman Elliott 18
Willkie Farr & Gallagher 15
Ropes & Gray 15
CMS 15
Shearman & Sterling 14
Allen & Overy 14
Honigman Miller Schwartz and Cohn
12
Greenberg Traurig 12
Akerman 10
King & Spalding 10
Sidley Austin 10
Simpson Thacher & Bartlett 8
Houthoff Buruma 8
Sullivan & Cromwell 8
Gibson, Dunn & Crutcher 8
McCarthy Tétrault 8
Firm name Deal count
Kirkland & Ellis 11
DLA Piper 8
Choate Hall & Stewart 7
Nelson Mullins Riley & Scarborough
5
Latham & Watkins 5
Cooley 3
Simpson Thacher & Bartlett 3
Sheppard Mullin Richter & Hampton
3
Locke Lord 3
Uría Menéndez 3
Paul Hastings 3
Perkins Coie 3
Sidley Austin 3
Firm name Deal count
Kirkland & Ellis 49
Latham & Watkins 30
Weil, Gotshal & Manges 19
Jones Day 19
Goodwin 15
DLA Piper 14
Sullivan & Cromwell 12
Paul, Weiss, Rifkind, Wharton & Garrison
12
Morgan, Lewis & Bockius 12
Allen & Overy 12
White & Case 12
Stikeman Elliott 11
Simpson Thacher & Bartlett 11
Paul Hastings 11
Shearman & Sterling 11
Sidley Austin 10
Gibson, Dunn & Crutcher 9
Fried Frank Harris Shriver & Jacobson
9
Davis Polk & Wardwell 9
CMS 9
Linklaters 9
Blake Cassels & Graydon 8
Willkie Farr & Gallagher 8
Orrick Herrington & Sutcliffe 8
Ropes & Gray 8
Vinson & Elkins 7
Skadden, Arps, Slate, Meagher & Flom
7
Honigman Miller Schwartz and Cohn
7
30 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 M&A LAW FIRMS BY DEAL LOCATIONMost active global Most active in US
Source: PitchBook
Source: PitchBook
Firm name Deal count
Kirkland & Ellis 85
Jones Day 72
DLA Piper 58
Latham & Watkins 50
Weil, Gotshal & Manges 42
Orrick Herrington & Sutcliffe 40
Stikeman Elliott 39
Goodwin 36
Allen & Overy 36
Morgan, Lewis & Bockius 36
Paul, Weiss, Rifkind, Wharton & Garrison
32
CMS 30
Paul Hastings 28
Sullivan & Cromwell 27
Shearman & Sterling 26
McDermott Will & Emery 25
Ropes & Gray 20
Honigman Miller Schwartz and Cohn
20
Skadden, Arps, Slate, Meagher & Flom
19
Cooley 19
Willkie Farr & Gallagher 19
Akerman 18
Simpson Thacher & Bartlett 18
Gibson, Dunn & Crutcher 18
McCarthy Tétrault 18
King & Spalding 18
Firm name Deal count
Kirkland & Ellis 70
Jones Day 54
Latham & Watkins 37
DLA Piper 36
Morgan, Lewis & Bockius 32
Goodwin 31
Weil, Gotshal & Manges 27
Paul, Weiss, Rifkind, Wharton & Garrison
24
Paul Hastings 22
Sullivan & Cromwell 20
Honigman Miller Schwartz and Cohn
19
McDermott Will & Emery 19
Akerman 18
Skadden, Arps, Slate, Meagher & Flom
17
Cooley 17
Ropes & Gray 16
Andrews Kurth Kenyon 16
Wachtell, Lipton, Rosen & Katz
15
King & Spalding 15
Most active in Europe
Firm name Deal count
CMS 29
Allen & Overy 29
Orrick Herrington & Sutcliffe 20
DLA Piper 20
Weil, Gotshal & Manges 14
Jones Day 13
Firm name Deal count
Linklaters 11
Pinsent Masons 11
Houthoff Buruma 11
Shearman & Sterling 10
Addleshaw Goddard 10
Squire Patton Boggs 10
Cuatrecasas 10
Latham & Watkins 10
Macfarlanes 9
Schoenherr 8
Kirkland & Ellis 8
White & Case 7
Travers Smith 7
Gateley 7
Freshfields Bruckhaus Deringer
7
Source: PitchBook
Most active in rest of world
Firm name Deal count
Stikeman Elliott 24
McCarthy Tétrault 11
Blake Cassels & Graydon 11
Davies Ward Phillips and Vineberg
10
Borden Ladner Gervais 9
Kirkland & Ellis 7
Fasken Martineau 7
Allen & Overy 6
Paul, Weiss, Rifkind, Wharton & Garrison
6
King & Wood Mallesons 6
Orrick Herrington & Sutcliffe 6
Source: PitchBook
Most active in Europe, continued
31 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
Firm name Deal count
Audax Group 7
Kohlberg Kravis Roberts 5
CVC Capital Partners 5
Mammoth Energy Services 4
Stone Point Capital 3
Bregal Unternehmerkapital 3
BC Partners 3
TA Associates Management 3
Partners Group 3
New Mountain Capital 3
2Q 2017’s most active acquirers of
global PE-backed companies
ACQUIRERS
2Q 2017’s Most Active Acquirers of PE-
backed Companies32
Acquirers of PE-backed Companies by
Deal Location & Type33
Acquirers of VC-backed Companies by
Deal Location & Type34
Contents
Source: PitchBook
32 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
2Q 2017 ACQUIRERS OF PE-BACKED COMPANIES BY DEAL LOCATION & TYPE
Firm name Deal count
Audax Group 6
Mammoth Energy Services 4
Stone Point Capital 3
Kohlberg Kravis Roberts 3
New Mountain Capital 3
Thoma Bravo 2
Insight Venture Partners 2
Francisco Partners 2
OMERS Private Equity 2
Ares Management 2
Searchlight Capital Partners 2
Kohlberg & Company 2
Capital Southwest 2
AE Industrial Partners 2
REV Group 2
BC Partners 2
Spell Capital Partners 2
Medley Capital 2
Harvest Partners 2
American Securities 2
DXC Technology 2
Most active in US Most active in Europe
Firm name Deal count
United American 2
Most active in rest of world
Firm name Deal count
Mammoth Energy Services 4
Hitachi Chemical Company 2
United American 2
REV Group 2
McKesson 2
DXC Technology 2
Most active in mergers/acquisitions
Source: PitchBook
Source: PitchBook
Source: PitchBook
Firm name Deal count
CVC Capital Partners 4
Bregal Unternehmerkapital 3
Souter Investments 2
JP Morgan Asset Management 2
Steadfast Capital 2
Woodford Investment Management
2
Bain Capital 2
Ardian Holding 2
Accel-KKR 2
IdInvest Partners 2
APG Groep 2
Kohlberg Kravis Roberts 2
ATP Private Equity Partners 2
Partners Group 2
Groupe Elsan 2
Beechbrook Capital 2
NorthEdge Capital 2
Ontario Teachers' Pension Plan
2
LBO France 2
TA Associates Management 2
3i Group 2
Source: PitchBook
33 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
Firm name Deal count
Vista Equity Partners 3
Snap 2
VMware 2
Providence Equity Partners 2
BC Partners 2
Genstar Capital 2
Blue Star Sports 2
Relias Learning 2
Bain Capital 2
Most active in US
Firm name Deal count
Quikr India 2
Most active in rest of world
Firm name Deal count
Vista Equity Partners 4
Genstar Capital 3
Providence Equity Partners 3
BC Partners 2
Blue Star Sports 2
Francisco Partners 2
Bain Capital 2
Most active in buyouts
Firm name Deal count
Snap 3
Spotify 2
Apple 2
Quikr India 2
VMware 2
Most active in mergers/acquisitions
2Q 2017 ACQUIRERS OF VC-BACKED COMPANIES BY DEAL LOCATION & TYPE
Firm name Deal count
Vista Equity Partners 4
Snap 3
Providence Equity Partners 3
Genstar Capital 3
Bain Capital 2
BC Partners 2
Spotify 2
Francisco Partners 2
Apple 2
Relias Learning 2
Market Track 2
Quikr India 2
VMware 2
Blue Star Sports 2
Most active global
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
Source: PitchBook
34 PITCHBOOK 2Q 2017 GLOBAL LEAGUE TABLES
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