Wednesday, 11 August 2010

FT- Private equity sets its sights lower

Back in the debt-laden years of plenty, the giants of Middle Eastern private equity descended on upmarket conferences to sell the oil-rich region as the fourth global centre of the industry after the Americas, Europe and Asia.

But as the credit crunch sent the world into a tailspin, the massive funds sought by regional players have failed to materialise. A limited pool of partners with deep pockets has refused to stump up cash, banks have reined in lending, and sellers remain in denial about the value of their assets.

As a result, private equity groups are turning to smaller mid-market and venture capital-style deals.

No comments:

Post a Comment