2021 Ipem Pan-European Private Equity Survey

The 3rd annual IPEM survey gauges the mood and outlook of European private equity fund managers for 2021.

This survey was conducted with the support of 16 national private equity associations from across Europe. In total, 223 interviews were completed online between the 18th of November 2020 and 11th of January 2021 by the CSA institute, just as European governments were shutting down their countries, but with the positive news on the horizon, and then implemented, after some turbulence, of a new President in the US, and a last-minute Christmas Eve Brexit deal signed between the EU and the UK.

Key findings:

  • 71% of European GPs feel the business environment in Europe will be better in 2021.
  • 84% of respondents considered national government recovery policies were supportive.
  • Asked to name concerns, 31% of respondents named high valuations as their 1st choice, with 56% expecting valuations to increase.
  • Pharma and technology sectors fare best on the attractiveness scale for both Growth and Buyout GPs
  • 97% of European GPs are more inclined to invest into their domestic market than beyond.
  • An overwhelming 82% of European GPs believe that PE will raise its game in ESG because of the pandemic.
  • Only 30% of respondents feel that PE makes a positive enough contribution to issues around poverty and inequality, rising just slightly to 42% on matters of diversity representation.
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