Cardinal Capital: ‘International capital is retreating from Ireland. We need strong local funding’

John Dolan, managing director of Private Equity at Cardinal Capital: estimates that the volume of deals is down by between 25 per cent and 30 per cent this year. Picture: Fergal Phillips

Last year was a golden one for the global private equity industry. Fuelled by rock bottom interest rates, growing surpluses of cash and surging business valuations, the total value of private equity deals worldwide reached €2.2 trillion, a 60 per cent increase on 2020, and almost double the level of 2007.

But a year is a long time in finance. Today, the private equity sector is facing rapidly rising interest rates and an economy that ...