Half of all PEdeals distressed

HALF of all private equity deals are now being completed under distressed conditions, according to accountants KPMG.<br /><br />But the firm said this is not a surprisingly high level &ldquo;given the hype around distressed balance sheets&rdquo;.<br /><br />Michael McDonagh, a partner at the firm, said there were only 17 deals above &pound;10m over the last quarter and half of these were distressed: &ldquo;There are fewer distressed deal opportunities available than one would have expected, with inertia being the biggest theme of the year for distressed firms and their creditors.&rdquo;<br />