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UK private equity industry confidence climbs in third quarter of 2003

UK private equity industry confidence has climbed in the third quarter of 2003 after a prolonged period of market uncertainty, according to the British Venture Capital Association's (BVCA) latest Confidence and Attitudes Survey. Of those industry participants surveyed, 44 per cent found the business climate favourable for investment over the last three months, compared to 28 per cent in the previous quarter

Looking forward, the survey also reveals that half of the UK private equity industry is confident of an improvement in market conditions in the next three months, compared to 37 per cent in June this year and 14 per cent in March. No respondent predicted a decline in market conditions for the first time this year.

‘It is very encouraging to see this increase in investor confidence,' said John Mackie, chief executive of the BVCA. ‘This is good news for the private equity industry. 90 per cent of our members expect their investment activity to increase or remain stable over the next three months, which is a very positive indicator.'

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