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Laxman Pai, Opalesque Asia: European private equity funds raised €49 billion ($57bn) in the first half of 2020, in line with last year's first-half figure, putting the industry on track to raise a full-year total on a par with the average fundraising level achieved over the last three years, said a study.
Over the same six month period, private equity funds invested €36 billion and backed 3,401 companies, with about 60% of investment value going into follow-on investments, as the industry supported its businesses through the intense liquidity crisis caused by the introduction of economic lockdown measures across Europe.
"The figures also highlighted the industry's continued focus on innovation as investments in ICT and biotech & healthcare accounted for over half of capital invested," said Invest Europe, the association representing Europe's private equity, venture capital, and infrastructure sectors, as well as their investors.
Besides, venture capital investment achieved a new half-year record with €5.6 billion invested into innovative start-ups and scale-ups, said Invest Europe's study, titled 'Investing in Europe: Private Equity Activity H1 2020'.
The overall private equity investment was 17% lower in value as tougher trading conditions and worsening outlooks impacted investment.
"European private equity has demonstrated its adaptability through the crisis caused by ongoing pandemic, supporting existing portfolio companies as and when ne...................... To view our full article Click here
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