European LPs: optimism, naivety or realism?

Despite the recent credit crisis, there appears to be relative optimism among European LPs compared with their North American and Asian counterparts. Would the immaturity and naivety of the European private equity industry be the cause of this so called "optimism"? Or is it more a matter of cycles and the low value of the dollar? Southern Europe unquote" editor spoke with Antoine Drean, Juan Delgado-Moreira and Franco Mosca to find out what their views were