Corporate Finance – News in brief.

VC confidence falls[QQ] The latest Deloitte & Touche private equity survey has revealed that venture capitalists’ confidence in the economic climate has plummeted over the past three months. The survey showed that 60% of venture capitalists expect the economic climate to worsen over the next six months which would have a similar knock-on effect in the debt market. A similar number expect transactions to remain the same or increase.

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KPMG Corporate Finance has recruited Mark Russell as mergers and acquisitions partner for financial services in Germany. Russell joined the firm from PricewaterhouseCoopers. He will be based in Frankfurt, reflecting the growing level of corporate finance business in Germany. KPMG’s head of corporate finance in Germany, Thomas Ehren, said: ‘The financial services M&A market is extremely buoyant across Europe, particularly in Germany where increased international competition, cost pressures and changes in tax legislation are driving consolidation in the sector.’

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Venture-backed management buy-outs and buy-ins led to better than average performance, competitiveness, job creation and employee rewards according to a study from EVCA, the European private equity and venture capital association. The survey of 300 European companies revealed that 84% believed they would no longer exist or would have developed more slowly without the venture-backed buy-out.

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Accountant Jon Moulton, head of Alchemy Partners, has been voted private equity personality of the year in a poll from website PrivateEquityOnline. Also in the poll, Moulton’s failed bid for Rover won deal of the year.

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