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How to achieve high IRRs in the current economic climate19/11/2002. Source: AXA Private Equity. Dominique Gaillard
 The French private equity market has grown substantially in recent years. But, says Dominique Gaillard of AXA Private Equity, with increasing numbers of ‘Anglo-Saxon' private equity houses eager to get into the French market, the fight for deal making is tougher than ever.
The continuous flow of new LBO players has led to an increase of competition in the French mid-market, argues Gaillard. And as the more general economic conditions have deteriorated, deal flow in France has decreased, with some sellers reluctant to accept lower valuations for non-core assets. This overview of an unforgiving French market is useful for investors considering a move into the area.
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AXA Private Equity is a portfolio management company whose expertise spans all aspects of capital investment. It manages or advises on E4.1bn of funds. For more information visit www.axaprivateequity.com.
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