Buyouts persevere as industry darling

Despite predictions just a year ago of the demise of up to 40% of buyout firms, and defying crippling credit conditions, buyouts managed to outperform their venture and growth/expansion brethren in the last three months of last year across Europe, according to the latest unquote" Private Equity Barometer, produced in association with Candover (see cover). Though figures are dwarfed by the previous year's, the asset class clocked up its third consecutive quarter of activity growth. Fans of Gerschenkron would attribute this to its very low starting point - and some cynicism is warranted - but it is important to acknowledge the slow-but-steady recovery the market is making