Private Equity Confidence Survey (Deloitte)

Summary

• The Central European Private Equity Confidence Survey Index landed at 119, higher than its long-term average of 115 but ending a four-consecutive-quarter rise.p.4
• Economic sentiment remains largely positive, with 30% of surveyed investors expecting conditions to improve and 48% expecting them to remain the same.p.7
• Debt financing sentiment is strong, with 31% expecting debt availability to increase and 63% expecting liquidity to stay the same.p.7
• Deployment appetite is active, as 55% of respondents plan to focus mostly on new investments in the coming period, while 30% expect to focus on portfolio management.p.12
• Around 16% of investors anticipate a decrease in average transaction sizes, pointing toward a possible shift to smaller bolt-on acquisitions.p.13
• Poland is identified as the most attractive country for Central European investment by 95% of respondents, followed by Romania at 64%.p.20

Key insights

1. The Central European Private Equity Confidence Index landed at 119, remaining above its long-term historical average of 115 despite geopolitical and interest rate headwinds.p.8
2. Economic optimism for the region remains strong with 30% expecting improvement, while 20% expect economic climate decline.p.10
3. Private credit funds and non-bank lenders are bolstering leverage confidence, with 31% expecting debt availability to increase.p.11
4. Multiple funds achieved fundraising success in 2024, including Innova Capital at €407 million and Accession Capital Partners at €336 million.p.12
5. Expectations of declining transaction sizes suggest investors are shifting toward buy-and-build strategies and smaller bolt-ons.p.13
6. More than half of respondents (52%) plan to buy more assets in the upcoming period, while 20% plan to sell more.p.16
7. Market leaders (48%) and middle-sized growing companies (42%) are projected to face the strongest deal competition.p.17
8. Technology, Media, and Telecom (TMT) at 67% and Life Sciences & Healthcare at 62% are considered the most attractive sectors for future investment.p.20
9. A majority of surveyed investors (52%) feel the number of interested buyers when selling assets has decreased.p.21
10. Fundraising processes have lengthened, with 56% of respondents noting that investors outside the region are taking longer to commit due to the situation in Ukraine.p.22