PRIVATE EQUITY ENJOYS BOUNDLESS SUCCESS.
This is what former Citigroup boss Chuck Prince famously said in the middle of 2007, at the height of the last big boom in the leveraged buyout sector. Looking at today’s markets, there is the same odd feeling of being at a lavish party that has run well into the small hours. It feels great to be part of it – as long as it lasts.
One thing is for sure: We are at the height of another golden era for private equity. The sector is flush with cash, it has raked up more than 1tn Dollars in unspent money. Funds are raising record amounts of capital and some are even turning away billions as they struggle to cope with demand. At the same time, booming leveraged loan markets are providing the sector with cheap financing and most global economies are growing at the fastest pace since the financial crisis.
But how long will this party last? Private equity managers are already faced with numerous challenges and questions: What are the future return opportunities in the light of rapidly rising purchase prices? For how long will the buoyant economic mood continue, and when will the financial markets cycle turn? What is the political environment for deal-making in Europe amid a rise of populism, Brexit and an increasingly protectionist agenda? What is Europe’s political and economic future?
These are exactly the questions we would like to talk to you about at this year’s European Private Equity Summit. So please join us on 25 and 26 October in Frankfurt for heated and controversial debates with top speakers from the private equity sector as well as prominent investors, politicians and lawyers.
We are very much looking forward to seeing you there.
Daniel Schäfer, Finance Editor, Handelsblatt (Moderator and chair)
Kathrin Dietrich-Pfaffenbach, Conference Director, Euroforum