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Report: $15.6B in private equity invested in NYS in 2012

Private equity activity was sparse on Long Island in 2012, according to the Private Equity Growth Capital Council (PEGCC) a Washington D.C.-based lobbying and research firm focused on the industry.

PEGCC released a report Thursday that said New York State attracted $15.6 billion in private equity investments for 96 companies in 2012. Of that figure, 15 companies were from the Long Island area, said Bronwyn Bailey, the head of research for PEGCC.

Because of the small size of some investments and undisclosed deal terms, the value of most of the investments on Long Island were not known, Bailey added.

Of note were the $675 million buyout of aircraft software company CAMP Systems Solutions in Ronkonkoma by GTCR and the $215 million of development capital invested in Melville-based payment processor EVO Payments International from Madison Dearborn.

Private equity investments are typically long-term, made to gain majority control of a company, and focused on mature companies to improve and expand the business.

In 2012, New York ranked sixth nationally in amount of private equity invested in the a state, according to the PEGCC report. The two biggest deals in the state were all in the Lower Hudson Valley: a $2.3 billion acquisition of USI Insurance Services in Briarcliff Manor, and the $2.2 billion purchase of White Plains-based telecom/Internet company AboveNet.

Tags: private equity , new york , buyout , investment

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