German Private Equity

2023 was, broadly speaking, not a great year for private equity. A lot of money has been raised, and against the present backdrop of weak deal flow, most of it is looking for a home in all the same places. So, in typical Alvine fashion, we took a considered pause and reflected on where a less saturated place to invest might be in 2024.

When it comes to European private equity, it's probably fair to say that the UK and the Nordics have been the standout geographies. The Scandinavians have (in typical fashion) excelled at presenting themselves as adept and discerning investor, and their economies have been suitably strong. The UK has, despite its challenges, maintained a deep and amenable market for private equity, underpinned by an entrepreneurial spirit and the powerhouse that is London. Some of the other markets, such as Spain, Italy, Benelux etc can be accessed through focused funds, but often comprise part of a Pan-European strategy.