After flying from record to record in 2021, the private equity industry has fallen back to earth.
Transactions fell 35% on average globally in 2022, according to Dealogic.
The fact that banks no longer finance major leveraged buyouts (LBOs) is one of the causes.
Added to this are economic uncertainties, inflation and the still high price of unlisted companies.
To discover
Prime Macron 2022: conditions, amount, date of payment... how does it work?
Although cautious, private equity firms are still actively seeking new acquisitions.
They have $1.68 trillion to invest, according to data provider Preqin.
This amount is certainly down 23%, due to the drop in fundraising this year.
It is nevertheless a jackpot, called
“
dry powder
”
: these are the sums that the major international institutional investors (pension funds, sovereign wealth funds, etc.) have undertaken to contribute to private equity funds.
Return funds
In fact, money...
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