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Bailey McCann, Opalesque New York: Even though many European countries are dealing with slow growing economies, investors are still piling money into European private funds. Late last week, French private equity firm Ardian closed its sixth fund on €4 billion. The fund hit its hard-cap and was oversubscribed. The firm said in a statement that it believes fundraising was boosted by the recent Brexit vote, adding that investors were looking for ways to maintain investment exposure on the continent.
"Together with our multi local network, this gives us a unique proposition with both potential investee companies, as well with our investors across the globe who are able to access different European markets through a single partner," said Philippe Poletti, Member of the Executive Committee and Head of Ardian Mid Cap Buyout.
What Ardian is seeing in the market jibes with recent research done by Aberdeen Asset Management. The firm recently engaged its GPs in a brief survey to understand how they are viewing Brexit and other policy uncertainties within Europe. Graham McDonald, Head of Private Equity at Aberdeen says that despite macroeconomic weakness and the Brexit vote, the fundraising environment in Europe remains strong. "We're still seeing good volume in terms of private equity deals and fundraising is going well in the UK and Europe, so even though Brexit is happening we aren't seeing it show up in the market yet necessarily," he said in an interview.
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