DC Advisory's European Private Equity Mid-Market Monitor: Q4 2023 & Outlook
Date
February 08, 2024 • 4 min read
DC Advisory presents our latest European Private Equity Mid-Market Monitor, discussing the latest trends and themes impacting deal flow, further to our Global M&A Outlook produced in December.
In this edition we explore:
- European top trends and themes
- Outlook for 2024 and beyond
- Country by country review
- GP-led secondary solutions
- Asia and Europe cross-border activity
A resilient and adaptable European mid-market is poised for a gradual recovery
Q4 2023 marked the highest number of insolvencies in a quarter since the pandemic, as the mid-market faced high debt costs, weak economic growth and rising energy prices. At the same time, the volume of private equity exits was the lowest in over a decade, resulting in a build-up of investments within portfolios, driving funds to seek alternative exit paths and deferring asset sales until more favorable market conditions and improved valuations emerge.
We believe a lack of distributions has led to a rise in continuation fund processes across the market, allowing sponsors to hold onto star assets for longer with the aim of prolonging value creation, as well as generating liquidity from underperforming portfolios.
The European private equity market has demonstrated resilience and adaptability, and it is poised for a gradual recovery, driven by strategic investments, resilient sectors, pointing to a potential rebound in M&A activity over the course of 2024.
Download the full report here
DC Advisory has prepared this material solely for informational purposes and it is not a research report. This material does not constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of any offer to buy, or any recommendation with respect to, any securities. For other important information, please read our full disclaimer >
For more information about our insights and publications read our full disclaimer >
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Authors
Netherlands
Netherlands
Poland
Poland
Germany
Germany
Ireland
Italy
Italy
Spain
United Kingdom
United Kingdom
United Kingdom
United Kingdom
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