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Welcome to the 25th issue of the EMEA Private Equity Market Snapshot (PEMS), a quarterly publication focusing on the Private Equity (PE) market in Europe, the Middle East and Africa (EMEA) from S&P Global Market Intelligence.
As we have seen during this unprecedented time, no area of our lives or the economy is immune to the impact of COVID-19. The PE market is no exception. That said, while there is a general downturn evident across EMEA in terms of deal-making, our analysis shows that divestments activity is up and some sectors are experiencing growth, largely on account of the global pandemic.
Following our overview of General Partners' investments in EMEA, we undertake a review of the industries most and least impacted by COVID-19 by way of S&P Global Market Intelligence’s Credit Analytics Probability of Default Model Market Signals (PDMS), which calculates a one-year Probability of Default (PD) according to stock price movements and asset volatility.
We close with a feature article that takes a promising look at the future of PE investment in EMEA's tech M&A market. In spite of COVID-19 setbacks, we sense that EMEA will continue to be attractive to PE firms seeking better-priced tech investments. This is not to say that COVID-19 will not deal a blow to deal-making, but rather, that PE funds are going to be quicker to bounce back than corporates - which, eventually, will be good news for EMEA-based tech companies.
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EMEA Private Equity Market Snapshot Issue 25