# of high-quality companies (ROCE>20%)*

(*) Source: ROCE calculated as EBIT/Capital Employed. Based on Bloomberg data

Analyst coverage per company*

(*) Average number of analysts covering a company taking a random sample high quality companies both in Small Caps (100 out of 400) and Large Caps (50 out of 105)

European small caps1 trading at c.25% discount to historical levels

Notes: 1)  Small Cap EU indexes includes average of German SDAX, CAC Small Cap, FTSE Small Cap, Switzerland Small Cap, Ibex Small Cap, Italy Small Cap, Sweden Small Cap, Norway Small Cap, Euro Stoxx Small Cap, Russel Europe Small Cap, FTSE Develop European Small Cap; 2) US indexes include Dow Jones and S&P 500; 3) UK: PE multiple from the FTSE Small Cap, Spain: PE multiple from Ibex Small Cap, Norway: PE multiple from Norway Small Cap; Germany: PE multiple from SDAX, Sweden: PE multiple from Sweden Small Cap

Private Equity Buyout Deals Bounced Back in March

Source: Bloomberg