Building off the strong momentum earlier in the quarter, we push into December with an optimistic view of how Q4 will ultimately finish up. As we have seen in years past, and as the chart below depicts, closed transactions and capital deployed can significantly vary quarter over quarter. And while we are only halfway through December, a picture is emerging of a decent, but not overly rosy, Q4. There is certainly opportunity to end the year on a high note as transactions push to get closed by year-end (potentially even more important this year given the Presidential administration change and the possibility for accompanying tax changes). Like many of you, we too are working to wrap up a few transactions before year-end. Unsurprisingly, however, no matter how much of a year-end bump we see, 2020 is likely to be the lowest year in terms of both deal count and capital deployed since 2013.
All of us at DCA feel extremely lucky to have spent another year working in partnership with you. Enjoy the holidays. Cherish the time with your loved ones. We’ll see you next year.