The Fourth Phase: Frustrating Times 1992–1994

Paul Jowett and Francoise Jowett

Chapter 10 in Private Equity, 2011, pp 184-246 from Palgrave Macmillan

Abstract: Abstract Given the trials and tribulations of the early phases, it may seem difficult to comprehend that later phases of private equity in Germany were possible. One explanation for the next phase must be that newcomers thought they would never make the same mistakes as the pioneers. Indeed many of the individuals who helped set up new private equity houses at the beginning of the 1990s were well familiar with the problems of Matuschka, 3i, and Barings. A second explanation is that the market was considered too promising to be tarnished by a few bad deals. Succession problems were considered to be rife in Germany, providing opportunities for new funds to prove their worth. A final, perhaps more cynical explanation, is that bankers have been known to have short memories. Money had been lost, but there were still abundant opportunities for future gain.

Keywords: Venture Capital; Pension Fund; Private Equity; Investment Bank; Fourth Phase (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-30866-4_10

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230308664

DOI: 10.1057/9780230308664_10

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().