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Introduction

In: Private Equity Finance

Author

Listed:
  • Jamie Morgan

Abstract

In 2007 private equity finance (PEF) became a major public issue in the UK. The main reason for this was that private equity firms had, following a longer term trend, begun to buy larger and more prominent publicly listed companies. Beginning in 2006 the GMB union raised a wide range of concerns regarding the employment effects of PEF, focusing on the example of the AA. The failed bid by a private equity firm to buy J. Sainsbury and the successful bid to buy Alliance Boots added to the publicity PEF had begun to receive. During 2007 PEF came under increasing political scrutiny. In March, the Treasury launched a review of PEF. In June the Commons’ Treasury Select Committee began an inquiry into its practices. The Bank of England, meanwhile, highlighted the potential problems that PEF might cause to the finance system because of its large scale and growing use of debt.1 The main PEF industry representative, the British Venture Capital Association (BVCA), reacted by engaging in a media campaign to highlight the positive impact of PEF on the British economy.

Suggested Citation

  • Jamie Morgan, 2009. "Introduction," Palgrave Macmillan Books, in: Private Equity Finance, pages 1-12, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59487-6_1
    DOI: 10.1057/9780230594876_1
    as

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