Summary and Conclusion
Over the past two decades, private equity has established itself as a permanent asset class in Europe (Chew and Kaplan 2009). To some extent, it has also reshaped corporate financing culture. However, neither the influence wielded by private equity in Europe nor the number and volume of transactions have plotted a steady upward course. On the contrary: Since buyout and venture capital firms began committing to continental Europe in the mid-1990s, the private equity market has experienced tremendous fluctuations in deal activity in line with market cycles worldwide.
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