Capital commitments have continued strongly since the Brexit vote in mid-2016, with deployment becoming more stable from 2016 onwards, compared with the trend seen over the previous three years. A “wait and see” approach has then led to a significant decrease in RVPIs over the last three years.

The actual Brexit will lead to further disruptions. Will this trigger a wave of new investments? Once the outcome of the negotiations is known, it seems likely that British fund managers will capitalize on this expected major economic disruption.

Evolution of the RVPI of British LBO funds in four currencies of reference

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