Private Equity Turkey
Private Equity Turkey
Turkey’s Private Equity Industry Expected to Recover
Coincidentally, this story is very appropriate given Thursday’s holiday. Turkey’s private equity industry is recovering, according to industry experts speaking at a recent conference. The small but expanding buyout sector struggled in the financial crisis but deals are expected to rebound in 2010 with the help of foreign financing. Driving areas of investment are predicted to be in the healthcare and energy industries. A study last year estimated that Turkey had a total of 95 private equity investments and 23 private equity exits, and despite the economic decline, leaders of Turkey’s buyout industry are hoping that good management and fundamentals will push a recovery.
“Whoever you ask they are all looking at health care deals, renewable energy, but not so much at retail, which I think is a mistake,” Seymur Tari, managing director of Turkven Private Equity group, told Reuters at the sidelines of the PEI conference.“Most funds here are pretty agnostic though, it is more about good management teams and industries rather than sectors.”
“The industry is so small in Turkey, the total loans of Turkish banks are around $450 billion and the amount of money they lend to private equity is less than $1 billion in any given year,” Tari said, adding that because of the limited scale of the market, banks had not encountered problems with acquisition finance loans and so would not be shy in lending.“Private consumption is around 77 percent of Turkish GDP… your portfolio should reflect the importance of private consumption, and we are very much a believer in the Turkish consumer.” Source
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Tags: private equity, buyout, private equity Turkey, Turkish private equity, Istanbul, Instanbul private equity, buyouts, private equity investment in Turkey, Guide to Turkey Private Equity, Buyouts in Turkey, Venture Capital Turkey
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