Private Equity: En bransch i förändring : Hur ökad efterfrågan från investerare och växande kapitalinflöde påverkar svenska

Sammanfattning: Background: This paper examines contemporary changes and challenges within the Swedish private equity industry and reasons of their existence. Our research stems from the past years’ industry reports pointing out substantial inflows of capital on financial markets as one of the drivers behind high valuations and extended holding periods. Aim: The aim of this paper was to examine and analyse changes on the Swedish private equity market and how Swedish private equity participants experience how demand from investors have transformed and affected the industry. Completion: For this paper, we conducted semi-structured interviews with twelve actors at twelve different private equity firms operating on the Swedish private equity market. The participants were asked about their experiences regarding changes within the Swedish private equity market. Results: Through in-depth interviews we found that there are different views on whether there is too much capital on the private equity market. Frequent opinions were that demand for private equity investments from limited partners have increased, successful general partners see greater access to funding, the funds have increased in size, holding periods have extended and competition for portfolio companies has increased. We also found that some general partners think that the industry is at the top of a private equity cycle and faces a correction in the near future.