What goes up…

Central European Private Equity Index: Key findings

• The Index has dropped but remains above the 10-year average and signs of positivity can be seen throughout our latest Survey. Confidence around the economy remains reasonably upbeat, with over half (58%) expecting conditions to remain the same (41%) or improve (17%). Additionally, over half of respondents (61%) expect to focus on new investments in the first half of 2022, a gentle increase on our last Survey and sign of investor confidence.
• Deal sizes may be stabilizing, with over half of deal-doers (57%) expecting transaction sizes to stay the same, a marked increase from 37% in our last Survey. Likewise, the percentage of respondents expecting sizes to increase has fallen sharply, from 59% over the summer to 39% now. This may be linked to pricing, with 7% of respondents feeling vendor price expectations had come down in the second half of 2021. These outlooks may be a sign of a healthy market, since high valuations combined with increasing sizes can point to unsustainable metrics last seen prior to the Global Financial Crisis.
  
• The high pricing environment of 2021 may be cooling according to our respondents’ sentiment. While 43% feel pricing had increased in the second half of 2021, a similar percentage (46%) expect prices to remain the same over the first half of 2022.
  Additionally, just a fifth (22%) expect prices to rise in 2022, down from 41% expecting continued rises in our previous Survey. Another fifth (20%) expect prices to fall in the first half of 2022, up markedly from only 6% expecting this in our summer Survey.

Read the press release.

Download previous editions:

• Defying gravity
  Central Europe Private Equity Confidence Survey - July 2021 (PDF, 2.35 MB)
  
• Great expectations
  Central Europe Private Equity Confidence Survey - January 2021 (PDF, 2.30 MB)
  
• Confidence down, experience up
  Central Europe Private Equity Confidence Survey - July 2020 (PDF, 2.26 MB)
  
• Veteran resilience
  Central Europe Private Equity Survey - November 2019 (PDF, 1 MB)
  
• Harvest mode
  Central Europe Private Equity Confidence Survey - July 2019 (PDF, 1 MB)
  
• Caution returns
  Central Europe Private Equity Confidence Survey - December 2018 (PDF, 1 MB)
  
• Maintaining momentum
  Central Europe Private Equity Confidence Survey - May 2018 (PDF, 1 MB)
  
• Healthy appetite
  Central Europe Private Equity Confidence Survey - November 2017 (PDF, 1,16 MB)
  
• Great expectations
  Central Europe Private Equity Confidence Survey - May 2017 (PDF, 1,26 MB)
  
• Resilience amidst uncertainty
  Central Europe Private Equity Confidence Survey - October 2016 (PDF, 1.2 MB)
  
• Rebounding confidence drives mid-market
  Central Europe Private Equity Confidence Survey - May 2016 (PDF, 1.4 MB)
  
• Momentum persists amidst change
  Central Europe Private Equity Confidence Survey - October 2015 (PDF, 5.58 MB)