Swings and roundabouts

22 January 2009

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The end of 2008 was a frosty one, particularly on the leveraged buyout front. According to figures from unquote" proprietary database Private Equity Insight, Q4 saw a considerable drop in the number and value of deals vis-a-vis Q3 (see graph 2, cover). Meanwhile investors are bracing themselves for some bad news: year-end reporting involving new valuation rules means lots of funds' positions will be under water

As 2009 dawns, many industry specialists concur that the year is off to a slow start but one that will hopefully accelerate in the second half.

In the Netherlands, significant activity is expected in the infrastructure arena as well as the environmental and waste management sectors, while new fundraising will benefit those firms specialising in distressed assets. Meanwhile in Belgium, the nature of the market (characterised by small- and medium-sized deals) means it won't be as hindered by the drying of debt so decisive for mega deals. So a mixed bag for the region as a whole.

With a decrease in deal flow and value, unquote" will look to uncover the main trends in the market. We are interested in what you have to say, so please ring or email me at the details below. I look forward hearing your views.

Yours sincerely,

Francinia Protti-Alvarez

Editor, Benelux unquote"

Tel: +44 20 7004 7475

Francinia.protti-alvarez@incisivemedia.com.