Login to access your exclusive member-only content and account information.


Not a member? Join us

  • Operate to the highest level of professional standards
  • Access authoritative industry research and data
  • Navigate the complex EU regulatory environment
  • Network and engage with industry leaders
  • Home /
  • News & opinion /
  • Opinion /
  • Academic publication: Private Equity and Venture Capital in Europe - Markets, Techniques, and Deals - 3rd Edition
News & opinion

Executive summary: “Private Equity and Venture Capital in Europe” (academic publication), by Stefano Caselli and Giulia Negri

05 May 2021

This is the third edition of “Private Equity and Venture Capital in Europe.”

As of today, private equity investments cover the majority in the investment class of private capital. Worldwide, there is currently a record level of Asset Under Management (AUM) for private equity managers supposed to increase up to $ 9tn by 2025, and analysts forecast a strong performance and net inflows into this asset class to drive a global growth rate of 15.6% over the period 2020–2025 (Source: Preqin).

European private equity is keeping up with the pace in the light of an increasing interest by investors. Among others, the increase in the number of investors keen on investing in private equity is a consequence of the ever-growing interest of some specific categories like sovereign wealth funds that increased the capital allocation to private equity investments by more than 350% in the past 5 years (Source: Preqin).

The final effect of both the increasing interest of investors and the rising AUM of private equity operators is that there is a greater space for deals with a larger average size. As of November 2020, in spite of a lower volume of deals, in Europe, deals with a size larger than half a billion US Dollars accounted for 85% of the aggregate volume of deals involving buyout transactions (Source: Preqin).

Given the importance that updated information has in nowadays world, this third edition of the book presents various charts and league tables to transfer to all readers how this asset class will become more and more important in the next years.

The book examines how the industry has grown in Europe, the obstacles it has faced, and its ongoing evolution, opening with a preface by Prof. Josh Lerner (Harvard Business School).

As the private equity world continues to undergo many challenges and opportunities, this book presents both fundamentals and advanced topics that will help readers stay informed on market evolution. The book first presents how the private equity industry works and its mechanics, then it delves into the different investment strategies that exist in such a varied sector, from early stage financing to the so-called “vulture” deals. It highlights many of the institutional and regulatory challenges that are specific to European funds, providing a unique focus on Europe for equity investors and long-term investments. At the same time, the book presents the methodologies that one should know when making a private equity investment.

The book contains theoretical knowledge put into practice using real-world cases and the language and the methodologies of practitioners. Thanks to authoritative sources such as Invest Europe, the book is able to provide an up-to-date image of the industry.

Finally, to provide a full hands-on view and in the light to provide their view on the effect Covid-19 had on this industry, this book presents three interviews (“Voices from the Practice”) to three top-tier private equity managers:

  • W. Dexter Paine, III; Chairman and a Founding Partner of Paine Schwartz Partners.
  • Fabio Lorenzo Sattin; Executive Chairman and Founding Partner of Private Equity Partners.
  • Nino Tronchetti Provera; Founder and Managing Partner of Ambienta SGR.

Want to discuss?

We are always keen to hear from you.


What can I do to manage cookies stored on my computer or phone?

You can accept or refuse cookies. Accepting cookies is usually the best way to make sure you get the best from a website.

Most PCs automatically accept them but you can change your browser settings to restrict, block or delete cookies if you want. Each browser is different, so check the 'Help' menu of your particular browser (or your mobile phone's handset manual) to learn how to change your cookie preferences. Many browsers have universal privacy settings for you to choose from.

Help on how to set and customise your cookie settings for your browser

How to manage cookies in Internet Explorer

Cookie settings in most versions of Internet Explorer can be found by clicking the tools option and then the privacy tab.

How to manage cookies in Firefox

Cookie settings in Firefox are managed in the Options window's Privacy panel. See Options window - Privacy Panel for information on these settings.

How to manage cookies in Chrome

Click on the spanner icon on the toolbar, select settings, click the under the bonnet tab, click on content settings in the privacy section.

How to manage cookies in Opera 

You can manage cookies in Opera if you Click on settings, then Preferences, then Advanced and finally Cookies

How to manage cookies in Safari

Choose Safari, then preferences and then click security. You should then be able to specify if and when Safari should accept cookies.

To manage cookies on your mobile phone please consult your manual or handbook.

Get more help about how cookies work with specific browsers.

What happens if I don't accept cookies?

If you decline cookies, some aspects of Invest Europe site may not work on your computer or mobile phone and you may not be able to access areas you want on the website. For this reason we recommend that you accept cookies.

What happens if I delete my cookies?

If you delete all your cookies you will have to update your preferences with us again and some aspects of our site may not work.

What happens if I change computers or mobile?

If you use a different device, computer profile or browser you will have to tell us your preferences again.

If you'd like to learn more about cookies in general and how to manage them, visit

We can't be responsible for the content of external websites.

Opt-out of cookies


Join today

This is for members only. To view in full login or join Invest Europe today.