The Good And Bad Of PE Sponsorship: High Default, High Recovery

Here is some news that should cheer up the British Private Equity and Venture Capital Association, which is desperately fighting the European Union's Alternative Investment initiative to curb the industry's activities. Recent research from Leeds, Nottingham and Birmingham Universities (albeit commissioned by the Association itself), entitled 'Private Equity And Insolvency', has found that private equity (PE)-backed buyouts do not have a higher failure rate than other companies of the same size and sector and actually have a lower incidence of financial distress than other types of company buyouts. Have the negative associations of private equity buyouts with defaults been a

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