{"id":43898,"date":"2017-12-19T18:11:07","date_gmt":"2017-12-19T16:11:07","guid":{"rendered":"https:\/\/newserver.fyb.de\/produkt\/ready-for-change-private-capital-operations-in-the-digital-age\/"},"modified":"2017-12-19T18:11:07","modified_gmt":"2017-12-19T16:11:07","slug":"ready-for-change-private-capital-operations-in-the-digital-age","status":"publish","type":"product","link":"https:\/\/www.fyb.de\/en\/produkt\/ready-for-change-private-capital-operations-in-the-digital-age\/","title":{"rendered":"Ready for change!? \u2014 Private Capital Operations in the Digital Age"},"content":{"rendered":"<p><strong>Kevin-Matthias Gruber<\/strong> \u2014 Mana\u00adging Direc\u00adtor Asset\u00adMe\u00adtrix GmbH, Munich<\/p>\n<p><strong>Moritz Haar\u00admann<\/strong> \u2014 Head of Rese\u00adarch Asset\u00adMe\u00adtrix GmbH, Munich<\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>Hardly any indus\u00adtry has been spared from digi\u00adtiza\u00adtion in recent years. Substan\u00adtial parts of the retail indus\u00adtry have migra\u00adted to the Inter\u00adnet, the music indus\u00adtry has had to reinvent its distri\u00adbu\u00adtion model, and banks and insu\u00adr\u00aders are facing incre\u00adasingly successful FinTechs and InsurTechs. By contrast, the private capi\u00adtal indus\u00adtry remained<\/strong><strong>\u00b9 largely unaf\u00adfec\u00adted by disrup\u00adtive change to date. The very inves\u00adtors who are massi\u00advely driving change in other indus\u00adtries with their invest\u00adments in tech start\u00adups or Indus\u00adtry 4.0 compa\u00adnies have so far hardly deve\u00adlo\u00adped their own busi\u00adness model. But now private capi\u00adtal inves\u00adtors are also facing a variety of challenges.<\/strong><\/p>\n<p><strong>Chal\u00adlenges for private capi\u00adtal investors<\/strong><\/p>\n<p>Private capi\u00adtal inves\u00adtors have bene\u00adfi\u00adted from stable struc\u00adtures and substan\u00adtial returns for deca\u00addes, but are now coming under incre\u00adasing pres\u00adsure. Three factors play a&nbsp;role:<\/p>\n<p><strong>Falling yields<\/strong><br>\nThe global over\u00adhang of capi\u00adtal with low returns is leading to a \u201cbattle\u201d for the limi\u00adted number of profi\u00adta\u00adble invest\u00adment oppor\u00adtu\u00adni\u00adties. As a result, private capi\u00adtal funds now have around EUR 1,400 billion in \u201cdry powder\u201c\u00b2, around 30% more than at the time shortly before the 2008 finan\u00adcial crisis. This means that the available investa\u00adble funds mark a histo\u00adric record level. At the same time, the number of deals is stagnating.<\/p>\n","protected":false},"featured_media":40898,"comment_status":"open","ping_status":"closed","template":"","meta":{"wp_typography_post_enhancements_disabled":false},"product_brand":[],"product_cat":[2452,2456,2500,2502],"product_tag":[1424,1629,1630,1634,1636],"class_list":{"0":"post-43898","1":"product","2":"type-product","3":"status-publish","4":"has-post-thumbnail","6":"product_cat-ebook-en","7":"product_cat-fyb-2018-en","8":"product_cat-kevin-matthias-gruber-en","9":"product_cat-moritz-haarmann-en","10":"product_tag-digitization","11":"product_tag-industry-4-0","12":"product_tag-private-capital-operations-en","13":"product_tag-kevin-matthias-gruber-en","14":"product_tag-moritz-haarmann-en","15":"pa_ausgabe-deutsch-en","16":"pa_ausgabe-englisch-en","18":"first","19":"outofstock","20":"taxable","21":"shipping-taxable","22":"purchasable","23":"product-type-variable"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ready for change!? - Private Capital Operations in the Digital Age - FYB Financial Yearbook<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fyb.de\/en\/produkt\/ready-for-change-private-capital-operations-in-the-digital-age\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ready for change!? - Private Capital Operations in the Digital Age - FYB Financial Yearbook\" \/>\n<meta property=\"og:description\" content=\"Hardly any industry has been spared from digitization in recent years. Substantial parts of the retail industry have migrated to the Internet, the music industry has had to reinvent its distribution model, and banks and insurers are facing increasingly successful FinTechs and InsurTechs. By contrast, the private capital industry remained\u00b9 largely unaffected by disruptive change to date. The very investors who are massively driving change in other industries with their investments in tech startups or Industry 4.0 companies have so far hardly developed their own business model. But now private capital investors are also facing a variety of challenges. Challenges for private capital investors Private capital investors have benefited from stable structures and substantial returns for decades, but are now coming under increasing pressure. Three factors play a role: Falling yields The global overhang of capital with low returns is leading to a &quot;battle&quot; for the limited number of profitable investment opportunities. As a result, private capital funds now have around EUR 1,400 billion in &quot;dry powder&quot;\u00b2, around 30% more than at the time shortly before the 2008 financial crisis. This means that the available investable funds mark a historic record level. 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