| Updated:
Half of all PEdeals distressed
HALF of all private equity deals are now being completed under distressed conditions, according to accountants KPMG.
But the firm said this is not a surprisingly high level “given the hype around distressed balance sheets”.
Michael McDonagh, a partner at the firm, said there were only 17 deals above £10m over the last quarter and half of these were distressed: “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.”