Craig McGlashan

Though the continent offers several attractions, conducting business without boots on the ground can be difficult, say experts.

Sellers are promoting other growth avenues rather than relying on US expansion, says Raymond James’ Allan Bertie.

‘LPs now would favor a slightly lower return with a current distribution than a potential higher return in a future distribution,’ says managing partner William Barrett.

Laillier will focus on capital deployment and investments, with management responsibilities shared by a new leadership team.

The lack of advisers and minimal competition in Europe means valuations remain favourable for investors, according to the GP stakes firm.

The GP stakes market in Europe is on an upward trend, according to managing director and head of UK Catherine Haumesser.

Concerns over future use-cases in face of AI has led to ‘a number of broken sales processes’, says Sascha Pfeiffer, head of European technology at Houlihan Lokey.

'Our initial investment in 2018 via our small mid-cap fund has been highly successful and we’re delighted that Bridgepoint will be able to continue working with management and provide additional investment for the next stage of growth of PEI,' says Bridgepoint.

While some PE firms buy clubs, others such as Sixth Street are finding other ways to gain exposure.