Breakdown 4Q The Private equity. Private Equity Total Deal flow

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1 The Private equity Breakdown 4Q 200 Private equity-focused research firm, PitchBook Data, Inc. ( has published its quarterly aggregated data and statistics analyzing private equity investment trends in 200. The objective of this report is to provide insight and historical context on today's trends. Not surprisingly, the primary findings indicate the U.S. private equity industry has been significantly affected by the global economic downturn and tightened credit markets. For the first three quarters of 200, there were 1,302 completed deals, a 33% decline from the 1,36 deals over the same period a year ago. Capital invested declined more significantly, dropping by 57% from $354.5 billion to $152.3 billion. Despite the tumultuous U.S. financial markets and private equity s dramatic declines from 2007, the first three quarters of 200 remained relatively strong compared to historical levels. The amount invested through the third quarter of 200, $152.3 billion, was the sixth highest amount on record, behind all four quarters of 2007 and the $160 billion invested during the third quarter of Private Equity Total Deal flow The third quarter of 200 had the 6th highest amount of invested capital ever 200 deal count and capital invested are on pace to finish between 2005 and 2006 levels The number of deals for the first three quarters of 200 was down 33% from the same period in 2007 The capital invested for the first three quarters of 200 was down 57% compared to the same period in 2007

2 Business Products & Services (B2B) Consumer Products & Services (B2C) Commercial Services, such as Media & Information and Consulting Services, led this sector with 230 deals in the first three quarters of 200 Number of deals fell 33.7% and total capital invested fell 76% for the first three quarters of 200 compared to the same period in 2007 Business Products & Services accounted for 35% of the deals in 3Q 200 Consumer Durables led this sector with 54 deals in the first three quarters of 200, followed closely by Consumer Media with 4 deals Number of deals and capital invested both fell 3% for the first three quarters of 200 compared to the same period in 2007 Consumer Products & Services accounted for 25% of the deals in 3Q 200 Financial Services Energy Capital Markets/Institutions led this sector with 23 deals in the first three quarters of 200, followed by Insurance with 22 deals Number of deals fell 20.% and total capital invested fell 21.3% for the first three quarters of 200 compared to the same period in 2007 Financial Services accounted for 5% of the deals in 3Q 200 Exploration, Production & Refining led this sector with 46 deals in the first three quarters of 200, followed by Energy Services with 30 deals Number of deals fell 14% and total capital invested fell 5.4% for the first three quarters of 200 compared to the same period in 2007 Energy accounted for 7% of the deals in 3Q 200 Healthcare Information Technology Healthcare Services led the this sector with 72 deals in the first three quarters of 200, followed by Devices & Supplies with 2 deals Number of deals fell 26.6% and total capital invested fell 54.4% for the first three quarters of 200 compared to the same period in 2007 Healthcare accounted for % of the deals in 3Q 200 Software led this sector with 42 deals in the first three quarters of 200, followed by Communications & Networking with 2 deals Number of deals fell by 44.7% and total capital invested fell 1.4% for the first three quarters of 200 compared to the same period in 2007 Information Technology accounted for % of the deals in 3Q 200

3 PE Tr ansactions by Industry Sector, 3q 200 PE Tr ansactions by Region, 3q 200 Business Products & Services and Consumer Products & Services remain the dominant sectors, yet both saw significant declines in deal activity. Financial Services and Energy were the two sectors that gained ground from 2007 to 200 as a percentage of deal flow. The Mid-Atlantic, Midwest and West Coast dominate deal flow so far in 200. The rise of the Research Triangle and investments in distressed banks bolstered deal flow in the Mid-Atlantic. Percent of PE Tr ansactions (Count) by Deal Size Percent of PE Investment (Total $ Amount) by Deal Size Deals below $250 million regained ground on large deals in 200. Deals above $500 million decreased after the flood of mega-deals in While mega-deals typically receive the most attention, over 5% of deals were under $500 million. Deals above $2.5 billion, while few in number, dominated total capital invested yet again; however, deals below $500 million are making a resurgence as leverage for large deals dries up.

4 The State of Private Equity Fundr aising PitchBook s aggregated data and statistics show that private equity fundraising for the first three quarters of 200 remained strong, and has already surpassed 2007 s total of $257 billion. Firms have continued to raise larger and larger pools of capital, with funds over $2 billion constituting nearly 20% of funds closed in the first three quarters of 200, up from 16% for the same period in Private equity firms have also branched out to raise mezzanine and distressed asset funds, which made up over % of funds closed in 200, up from around 7% for the same period in The inaccessibility of leverage has required firms to contribute a larger percentage of equity to recent deals. However, given the decline in deal activity and relatively strong fundraising for the first three quarters of 200, the amount of capital on the sidelines continues to increase. fundr aising ACtivity Number of funds closed dropped by 13% for the first three quarters of 200 compared to the same period in 2007 Total amount raised inceased 2% for the first three quarters in 200 compared to the same period in 2007 Largest Funds of 200 Firm GS Capital Partners Kohlberg Kravis Roberts Warburg Pincus The Blackstone Group Oaktree Capital Management GS Capital Parners Advent International Bain Capital Lone Star Funds Avenue Capital Group Global Infrastructure Partners Bain Capital Kelso & Co. New Mountain Capital W.L. Ross Natural Gas Partners Fund GS Mezzanine Partners V TPG Partners VI KKR Associates 2006 Fund Warbug Pincus Private Equity X Blackstone Real Estate Partners VI OCM Opportunities Fund VIIb GS Loan Partners I Global Private Equity VI Bain Capital Fund X Lone Star Fund VI Avenue Special Situation Fund V TPG Financial Partners Global Infrastructure Partners Bain Capital Europe III Kelso Investment Associates VIII New Mountain Partners III TPG Asia Partners V WLF Recovery Fund IV Natural Gas Partners IX Size ($B) Fund Count by Fund Size Capital R aised by Fund Size Funds above $250 million now make up 7% of the total number of funds raised Funds under $0 million continue to decline as managers raise larger and larger funds, compounded by a decline in the number of new fund managers Funds above $2 billion continue to dominate fundraising, and now make up 75% of the total amount raised in 200 Funds below $500 million decreased by 2.7%

5 Most Active Private Equity Investors By number of Investments in the last months Investor Name GS Capital Partners Warburg Pincus The Carlyle Group Sun Capital Partners The Riverside Company Audax Group H.I.G. Capital The Blackstone Group Lindsay Goldberg Marwit Capital Parthenon Capital Bain Capital Kayne Anderson Capital Advisors American Capital Strategies Weston Presidio Summit Partners Silver Lake Partners Allied Capital Providence Equity Partners Veronis Suhler Stevenson Wind Point Partners Hellman & Friedman Lake Capital Banc of America Capital Investors Arlington Capital Partners ABRY Partners First Reserve GTCR Golder Rauner Housatonic Partners Riverstone Holdings Pegasus Capital Advisors Welsh, Carson, Anderson & Stowe CI Capital Partners Kohlberg Kravis Roberts DLJ Merchant Banking Partners Gryphon Investors Monomoy Capital Partners Equity Based Services KRG Capital Partners Nautic Partners Wachovia Capital Partners Kelso & Co. Apollo Investment Management Fidelity Equity Partners Sterling Partners Centre Partners Harbert Management Huron Capital Partners Peninsula Capital Partners Deal Count Top Law Firms in Private Equity Kirkland & Ellis Jones Day Skadden Arps Slate Meagher & Flom Weil Gotshal & Manges Simpson Thacher & Bartlett Latham & Watkins Paul Weiss Rifkind Wharton & Garrison O'Melveny & Myers Hogan & Hartson Ropes & Gray Top Investment Banks & Advisors Houlihan Lokey Howard & Zukin Goldman Sachs Credit Suisse JP Morgan Lehman Brothers Lazard Freres & Company Harris Williams Morgan Stanley Lincoln International McGladrey Capital Markets Top Lenders in Private Equity CIT Group Madison Capital Funding General Electric Capital Goldman Sachs PNC Financial Services Group Wells Fargo Foothill JP Morgan KeyBank GE Antares Capital Lehman Brothers Top Fund Placement & Advisory Firms Credit Suisse Private Fund Group Probitas Partners Lazard Freres & Company Citigroup Credit Suisse Champlain Advisors Park Hill Group Atlantic-Pacific Capital Merrill Lynch JP Morgan

6 Your single source for quality Private Equity data Only PitchBook tracks the entire private equity lifecycle and every party involved: limited partners, financial sponsors & investors, target companies, service providers and key professionals. By dynamically linking these parties, PitchBook makes it easy to identify relationships and networks. Additionally, it actively researches target companies the entire time they are in an investor s portfolio so that you ll always be up-todate on the crucial details of a transaction and the company s progress. BROADest Private EQuity COVERAGE The PitchBook Platform contains information on over 25,000 private equity-backed companies, investors, and service providers, across every industry segment, every deal size and every private equity deal type from announcement to exit. Deepest Level of Detail PitchBook s mission is to provide hard-to-find information on private equity: the details you can only find through direct contact with key players and painstaking background research. PitchBook researches deal amounts and valuations, target company financials and price multiples, capitalization structures, deal terms, investor information and service provider contact information. It also tracks deal stakeholders and participants not just financial sponsors and investors, but also the many other financial, legal, and advisory firms associated with taking a deal through to completion. WHAT MAKES PITCHBOOK DIFFERENT Deal monitoring and research through the entire lifecycle. Without exception, PitchBook actively researches and reports on companies from announcement to final exit. PitchBook captures the full financing story, much more than just a snapshot of the deal s announcement. Full spectrum coverage. PitchBook covers the full spectrum of private equity deals: all sizes, all industries, and all types. No shortcuts. It takes meticulous research to produce complete, consistent, timely, and accurate information, and we devote the manpower and resources necessary to make this happen. Laser-focused. PitchBook's research is strictly focused on private equity. As an independent firm, we guarantee unbiased and honest information, commentary, and analysis. the PitchBook Platform puts powerful intelligence at your fingertips: Customizable Dashboard Excel Downloads Detailed Reports Sortable Results Advanced Searches* *Advanced Searches allows selecting criteria from more than 130 search fields New York: Sales & Client Services 325 West 3th Street, Suite 0 New York, NY 023 (2) Seattle: Research & Development 1700 Seventh Avenue, Suite 20 Seattle, WA 1 (206) Contact PitchBook: l (2) l demo@pitchbook.com