How European private equity came of age - opinion

Author: | Published: 30 Nov 2012
Enric Picanyol
Cuatrecasas Goncalves Pereira partner Enric Picanyol describes the year that the world stood up and took notice of European private equity

2005 may be considered one of European private equity's best years. This is based, not just on deal volumes and numbers, but fundraising and, eventually, returns to limited partners. Was it the year private equity came of age in Europe? Or the year of prudent maturity before more turbulent times?

The industry's growth started to attract more public scrutiny, or as Arthur Levitt, former chairman of the US Securities and Exchange Commission, then stated: "while private equity will remain technically private, its actions will become the public's concern." The Markets in Financial Instruments Directive, passed the year before, was being implemented by the Committee of European Securities Regulators and member states' authorities. What came...