How did our PE benchmarking tool perform?; Harvard's endowment returns lag Columbia, Brown; tracking public digital health valuations

Don't want to receive these emails? Manage your subscription. Log in The Daily Pitch: VC, PE and M&A October 21, 2024 The Daily Pitch is powered by PitchBook’s industry-defining research and best-in-class data In today's Daily Pitch, you'll find: Europe's defense-tech rush has hatched a brood of specialist VCs See how our benchmark for buyout funds performed in Q3 Harvard's endowment returned 9.6% for fiscal year 2024, trailing rivals Columbia and Brown Check out Q3 valuations data for public companies in the digital health and healthcare IT sector Our expanded Private Capital Barometers go beyond PE funds to cover VC, private debt, infrastructure and natural resources   Today's Top Stories   Defense-tech boom spawns wave of new European GPs (Dragos Condrea/Getty Images) Europe has seen record levels of VC investment in the defense-tech sector this year while conflicts and success stories increase appetite. As funding grows, so too has the number of emerging managers targeting the sector. Tech investors historically shied away from the defense-tech market. But their interest has been piqued by dual-use technology—any product or software that can be used for both civilian and military purposes—which has also become more of a focus for startups in the sector. read more   Share: Strong performance from our buyout replication portfolio in Q3 PitchBook's buyout replication portfolio—a proxy for buyout fund performance—notched another solid quarter. These returns were powered by a strong performance from small-cap stocks, propelled by expectations of more interest rate cuts. The BRP outperformed the sector- and leverage-adjusted Russell 2000 Index, returning 10.3% and 9.4%, respectively. The Russell 2000 Index outperformed the S&P 500 Index by more than three percentage points. Three of the companies in the BRP—Bally's, Instructure and Envestnet—announced take-private acquisitions during the quarter. Looking ahead, one of the BRP's current top take-private targets, SecureWorks, might soon be taken private, according to media reports. explore the dashboard   Share:   A message from SVB   Get SVB's take on the private fund trends CFOs and COOs need to know Find out how PE and VC funds are navigating LP relationships—among other factors—in the face of macro headwinds. Read the report Share:   Demand for virtual-first care declines, taking share prices with it