The third edition of Deloitte Turkey Private Equity Confidence Survey (PECS), covering the the first half of 2008, is conluded. After confidence hit all time highs in 2006-2007, this Private Equity Confidence Survey provides further evidence that the Turkish market is entering a cautious period. Confidence indicators show the expected downturn with sentiments following activity and market conditions, in line with global developments. Although respondents are evidently influenced by the negative consequences of the current financial downturn internationally, the survey results state as a conclusion that they remain committed to Turkey for the long term.

Key findings:

• The economic climate and availability of debt finance are sharply lower than in previous surveys.
• Market activity, size of transactions and the focus of investors’ expectations remain the same.
• A lower amount of new funds and syndicated deals should be expected in the next six months.