PT  - JOURNAL ARTICLE
AU  - Andreas B. Kucher
AU  - Matthias Meitner
TI  - Private Equity for Distressed Companies in Germany
AID  - 10.3905/jpe.2004.450952
DP  - 2004 Nov 30
TA  - The Journal of Private Equity
PG  - 55--62
VI  - 8
IP  - 1
4099  - https://pm-research.com/content/8/1/55.short
4100  - https://pm-research.com/content/8/1/55.full
AB  - This article summarizes the characteristics and trends of private equity investing in troubled companies in Germany. The analysis shows a growing importance of distressed companies for private equity firms, mainly for traditional buyout funds. However, investment behavior seems to be increasingly risk averse since turnaround and buyout investors prefer a relatively stable economy, early stages of distress, qualified management, and better potential exit possibilities. Another finding is that restructuring strategies of investors in the fields of organization/management, products/services, and human resources do not depend on the causes of distress.