Resources for Basel II Capital Accord (Basel II)

The return of the turnaround merchants

www.independent.co.uk

The much-maligned, but hugely successful, private equity industry is at a crossroads. If 2007 was the year that its executives were forced by political and media pressure to open up their companies, 2008 is when they have been forced to rethink their whole business model.

All the problems that have surfaced in the financial world in the past nine months – the credit crunch, debt market turmoil and market meltdown – have been ranged against private equity. Earlier this decade, easy access to cheap debt, strong economic growth and general confidence dovetailed so perfectly that, by 2007, the industry owned an estimated $1,160bn (£588m) of assets worldwide, according to research firm Private Equity Intelligence.

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