Predicted slow down is here

Go straight to page 3 to see how levels of equity investment have moved over the last two quarters. This is the first time that Venture Economics, publisher of evcj, has released this data. All feedback should be directed to the head of European M&A and Private Equity research at

Also this month, see evcj’s France supplement which accompanies this issue. It continues to be Europe’s most active venture capital and private equity market outside the UK in the first quarter of this year and has a terrrifc year of investments and fund raising in 2000 behind it.

Developments in the leveraged finance debt markets are examined in this month’s features. Market sentiment continues to predict a tightening of this market as factors including the

US credit tightening and bank consolidation continue to prey on investors minds. Although the debt component of buyouts among European countries in the first quarter of 2001 do not yet bear this sentiment. We await Q2 2001 figures for confirmation.

Italy saw venture capital investment ramp up in 2000, if private equity is to do the same the country will need to sort out the related infrastructure issues. See page 40.