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Private equity industry frets as market turmoil bites

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Cash-rich buyout funds are set to face higher financing costs to get their deals to the finishing line

Berlin — Private equity investors gathered in Berlin at their annual get-together are fretting a season of record buyouts is drawing to a close after a week of market turmoil and recession fears as central banks across Europe have hiked interest rates.“Things will get worse before they get better,” Marcus Brennecke, global co-head private equity at EQT, told Reuters at the SuperReturn International conference.

But the momentum has slowed and the pipeline of new investments is facing headwinds as galloping inflation blows valuations wide apart. Dealmakers do not anticipate a tremendous amount of activity before the end of the year as companies need time to digest conditions and take stock.

 

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