French PE still outperforms rest of continental Europe

The study, conducted in partnership with Ernst & Young and Thomson Reuters, shows that the UK remains Europe's top performer, with an average net IRR of 11.4% since inception. France however dominates its continental neighbours, with Germany coming in a distant third at 3.4%.

France is definitly outclassed by the UK when it comes to venture capital performance (-0.9% against 3.6%). The country's funds fare better in terms of growth capital, with a net IRR of 6% since inception against 8.8% in the UK.

But French private equity players appear particularly efficient when it comes to buyouts, with a net IRR of 14.1% since inception when the UK posts 13.4%.

The study also highlights the significant advantage enjoyed by US players at the smaller end of the market: US-based funds generated returns of 14.3% and 13.7% for venture and growth capital respectively from inception to the end of 2012, against 0.9% and 3% respectively for European players.

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• Topics
• France
• UK / Ireland
• Performance
• France
• AFIC
• Ernst & Young