Adam Moorshead, Managing Director of JTC Fund Solutions
(Guernsey), examines the trends being seen across the private
equity sector, both in Guernsey and globally, over the past 12
months.
How would you characterise private equity dealmaking in
your region over the last 12-18 months? What kinds of transaction
values are apparent and is there strong competition for
deals?
Moorshead: We have seen encouraging levels of
transactions over the last 12-18 months; however, YTD 2016 is
trailing its corresponding period from 2015. The short term
economic and political uncertainty means a mismatch in the
valuation expectations, so depressing deal activity. This is
understandable given this has been a year of surprises, with the UK
referendum and the US election producing unexpected results. There
remains a lot of competition at the deal level, with managers
holding onto assets for longer and an increasing amount of dry
powder in the market as PE firms wait patiently for
