Rainy day returns - what lies ahead for the global funds market?
The European business environment in 2010 was challenging to say the least, with the fallout from the global financial crisis still settling and governments seeking to balance budgets by cutting public spending and increasing taxes across the board. Private equity firms were on the front line of this economic battleground. They rely heavily on debt to finance acquisitions, and that has been hard to come by as banks seek to shore up their balance sheets under new capital adequacy rules. They have also had to deal with the threat of increased regulation, not only from Europe but also from the US (where recent rules have the potential to substantially increase the cost of doing business with US investors).
SJ Berwin’s Josyane Gold and Joshua Gregory survey the global funds market for 2011
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