Analysis/Regulation
EU FSR could impact PE fundraising with potential rise in ‘clean funds’
FSR could lead GPs to create funds without foreign LPs; red tape around sovereign wealth funds likely
CMA scrutiny of high-leverage PE divestment purchases expected to increase
PE could stand to lose its historic advantage with heightened regulatory baggage
EU Foreign Subsidies rules hold specific challenges for PE
Sovereign wealth funds and pension funds commitments may trigger EC attention under new EU foreign subsidies regulation
PE roll-up strategies face regulatory heat with focus on consumer industries
With longer holding periods facilitating more bolt-ons, regulators including the UK's CMA are intervening
Unquote Private Equity Podcast: What’s next for ESG – Fedrigoni case study
Harriet Matthews is joined by colleague William Cain to discuss ESG investing amid macro clouds and interviews Bain’s Ivano Sessa about the sustainability strategy for one of the sponsor's portfolio companies
German health minister’s 'locust sponsors' comments spook live healthcare deals
New entrants scared by remarks on limiting profits; existing investors expected to rush to complete bolt-ons
EU’s pending foreign subsidies rules put PE deals in the spotlight
M&A from funds backed by Chinese and Middle Eastern investors likely to be the focus of enforcement
Q&A: BVCA’s VC committee chair on the current outlook for venture capital
Andrew Williamson discusses the UK VC market and investing in the current macroeconomic environment
Unquote Private Equity Podcast: Jersey strikes the balance
Head of funds Elliot Refson discusses the blend of innovation and stability that the island offers to private equity
German VCs call for more Covid-19 startup support
Concerns centre around the profitability criteria, as well as local banks' lack of familiarity with startups' risk profile
Buyouts soar but Dutch PE remains under scrutiny
NVP's recently released report highlights the buyout market's health, but the industry still faces renewed scrutiny around childcare investments
French PE readies for wide-ranging economic reforms
PACTE plan currently working its way through parliament could boost ESG and take-privates, in addition to increasing public funding for venture
Italy’s battle with EU raises risks for private equity
Stand-off surrounding Italy's draft 2019 budget threatens to derail recent progress in the country's PE landscape
GP demand remains strong for Luxembourg's RAIFs
Launched two years ago, the fund structure has been well received by the PE community as almost 500 such vehicles have registered in two years
France Invest seeks to capitalise on Macron's reforms
Trade body's newly appointed chair discusses plans to capitalise on reforms and bolster the popularity of the PE ownership model
ESG bridges business and societal cultural gap in France
French GPs are widely adopting more proactive ESG practices in an effort to reflect the country's cultural mindset
Berlin mulls stricter rules on foreign takeovers
Bundesrat suggests that the government expands its powers for reviewing foreign investments, with likely implications for PE activity in the country
Dutch finance minister hails mature PE market
Wopke Hoekstra recently addressed parliament to endorse a social impact study by the University of Amsterdam, which was supportive of the impact of PE
UK autumn budget: industry reactions
VCT and EIS fund managers and trade bodies broadly welcome the autumn budget, as BBB receives an additional £2.5bn in funding
Turkish IPO activity on the rise
Recent flotations could be a sign of what's to come, after the country relaxed its IPO rules
German election: PE assesses likely coalitions
Coalition between CDU and FDP would be more supportive of private equity by nature
ECB leverage guidelines: casting too wide a net?
Debt advisory firm Marlborough Partners warns that the guidelines, as they stand, could impact deals with standard levels of term debt
Germany’s new foreign investment rules raise challenges for PE
Government's adoption of an amendment giving it increased rights of scrutiny could require increased due diligence for private equity houses
French venture expected to flourish under Macron
VCs welcome the arrival of a president who is likely to encourage a more favourable investment landscape