[Refer to p41, issue 152 May 2008 for layout]
Turnaround experts in demand
M&A advisers are bulking up their restructuring teams according to research published by EVCJ sister publication Acquisitions Monthly on behalf of Merril DataSite, the business technology company.
Of the 200 dealmakers surveyed, 54% believed that specialist restructuring and turnaround teams were recruiting ahead of next year.
Private banks upbeat
Private banks are optimistic about private equity. A survey by investor network Hotbed found that 42% of private banks will continue to recommend that clients increase their allocation to alternative assets, and 58% replied their suggested allocations would remain the same.
North West slowdown
Private equity activity in the North West of England has been hit by the global economic slowdown, reveals the Centre for Management Buyout Research (CMBOR).
In the third quarter of the year, just 12 deals were completed, with a combined value of £259bn. So far this year, 76 deals have been completed at a cost of £1.3bn.
Early-stage investment on the up
European venture capital is proving surprisingly resilient in the face of the global economic conditions with UK data provider Library House revealing that activity in the third quarter of the year is 30% up on Q2.
In Q3, over 750 investors backed more than 400 companies across Europe, a slightly higher figure than the previous quarter, but a fall from the 450 businesses backed in Q1.
Returns dip as economy shrinks
European private equity returns have dropped in the opening half of 2008 according to preliminary figures released by Thomson Reuters.
The statistics – which are on a pooled average basis – show that the industry as a whole returned 11.3%, net of management fees and carried interest, up to June 30, compared to the 11.8% recorded for the second half of 2007.