In this work the development of the young Private Equity market in Germany is analysed in order to form the base of comprehensive understanding of the market today. In the last decades, the private equity (PE) market in Germany has witnessed waves of rise and fall. But it surpassed, by the end of 2017, all the records of German PE history. According to Deutsche Beteiligungs (DBAG), the amount of transactions in the mid-sized businesses in the German market dramatically increased and hit €4.4 billion in 2017 which was the highest during the last 15 years.
But in contrast, the competition in the German market has been recently high with a steady number of companies which led to high prices and overvalued companies. PE firms target the mid-sized businesses since they are more likely to accept financial investors than bank loans or credit lines. However, this problem can now be countered with the help of PE in the context of alternative corporate financing. It should be noted that PE business has been a concern of German politics and businesses since the 1960s where the financial system was basically based on banks which is not appropriate for the development of PE industry.
The government intervention was the base to build a stronger PE industry away from bank-based financial systems. Recently, the stock market segment was a key driver for the dynamic development of PE market. The price falls and the collapse of the overheated and overvalued companies were also clearly felt in the PE segment and generated a great deal over scepticism on the capital markets.
Table of Contents
List of Figures
List of Tables
List of Abbreviations
1. Introduction
1.1. Problem Description
1.2. Scope of Work
2. The Private Equity Background: Terms, Data and Structure
2.1. Definition and Product Categories of Private Equity
2.2. The Structure of Private Equity Business
2.3. The Origin and History of Private Equity Market in Germany
3. The Private Equity Market in Germany since
3.1. The Private Equity Market in Germany from 1990 to
3.2. From the Stock Market Hype to the Stock Market Crash
3.2.1. Private Equity Record Years in Germany since
3.2.2. The Consolidation Phase after the Rapid Growth since
3.2.3. The boom after the Consolidation Phase since
3.3. Current Situation of German PE Market Compared to the US
3.4. Major Players in the German Private Equity Industry
4. Opportunities and Challenges of the German Private Equity Market
4.1. Future Opportunities
4.2. Challenges and Current Influencing Factors
5. Outlook and Conclusion
Bibliography
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