Private Equity
Uncertain times for leveraged finance in Spain - DLA Piper
The last two years have been an uncertain time for the private equity market in Spain (uncertainty which, unfortunately, is expected to continue during 2010). The country has, as a consequence of the socalled global credit crunch, been experiencing similar problems to other European economies including a significant slowdown in economic activity and consumer spending. An effect of which also, has been a very substantial decrease in the number of leveraged finance transactions closed during 2008 and 2009, albeit the midmarket has been slightly less affected.
Regulation of private equity in Europe - SJ Berwin
In late February, the European private equity industry was given an opportunity to present its views to the European Union on the regulatory framework which should apply to it in the future. In front of an audience that included many strong supporters of the private equity model, industry participants and academics pointed out that private equity does not pose systemic risk and should not be put into the same regulatory basket as businesses that do.
A return to basics: survival of the fittest - Araoz & Rueda
With the paralysis of the debt markets and uncertainty about how long and deep the economic downturn will be, and with the certainty that all these factors will likely affect business performance, some experts question the ability of private equity houses (PEHs) to do new deals in the current environment. It is, some would suggest, as if the private equity sector has from a high of mid-2007 returned to the Stone Age, particularly as the ultimate impact of the economic downturn on companies will likely be much worse than predicted even just one and a half years ago.
The success of private equity placements on the international markets - Barrocas Sarmento Neves
The internationalisation of financial markets has grown considerably over the past decades, with increased cross-border capital flows, tighter links between financial markets, and a greater commercial presence of foreign financial entities around the world. As international capital markets became more integrated, companies started enjoying not only a tremendous amount of flexibility in deciding which type of security to issue to raise funds, but also in which location to issue these securities. An element of this globalisation trend has been, consequently, the access to global equity markets through the issuing, listing or placement of shares outside a company´s domestic market.
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