Private equity firms suffer as deals fall in downturn
Private equity firms sold fewer European businesses last year, reflecting the "volatile" economic climate and the unwillingness of banks to provide debt financing for deals, according to the accountancy firm Ernst & Young.
There was a 28 per cent slump in the number of portfolio companies that private equity firms exited.
Sachin Date, Ernst & Young's private equity leader for Middle East, India and Africa, said: "With Europe and many other regions showing little or no GDP growth over such a prolonged period, the private equity portfolio has inevitably been affected."
While the amount of debt that banks are willing to lend to potential buyers remains significantly below pre-credit crisis levels in 2007, the accountancy firm said that European businesses have also struggled to grow profits during the economic downturn to wet the appetites of investors.
- 1 Morgan Freeman on the riot-focused coverage of the Baltimore protests: 'F**k the media'
- 2 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 4 Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
- 5 Length of pregnancy can vary by up to five weeks, scientists discover
Boston Marathon runner's search for mystery man she kissed ends with letter from his wife
Saudi Arabia's King Salman sacks senior aide for 'slapping' a journalist behind him live on TV
Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
Italian police 'reveal' what Jesus looked like as a young boy
Florida couple forced to register as sex offenders for having sex on public beach
In defence of liberal democracy
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
Andy McSmith's Sketch: Feisty audience is the real star of an enlightening show
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...