Private equity has been largely outbid or left out completely of dealmaking so far this year, despite the fact that it is sitting on a record amount of cash.
So now buyout firms are
The rush to raise investment dough comes amid a tough start to this year. In the first quarter, private equity firms accounted for just 16.9 percent of North American deal value, down from 20.4 percent in the first quarter of 2016, according to a PitchBook report on the first quarter.
Private equity firms closed only one transaction valued at more than $2.5 billion in the first three months of this year, while strategic acquirers closed 20 deals of that size or more, the report showed.
"Similar to what we saw last year, we believe private equity acquisitions are being crowded out by strategic acquisitions," said Pitchbook analyst Dylan Cox.
One high-profile case last year was Verizon's deal to buy Yahoo, reportedly beating out private equity bidders.