Monday, March 3, 2008

Greedy Australian Executives Like PEU's

Private equity deals have been less common in Australia than in the U.S. or Britain. They comprised only 4% of mergers and acquisitions in the land down under vs. 31% in America and 21% in the UK. Yet, that appears to be changing as Australian chief executives are seduced by PEU green.

Survey results show Aussie business leaders see private equity as a force for good. That's not the same good provided by faith organizations or nonprofit community hospitals. Seventy nine percent of executives felt positive or somewhat positive towards private equity underwriters. What did the 295 respondents expect good from greater PEU presence in their country?

The survey found that the opportunity for personal gain is a key attraction of private equity deals with 77 per cent of respondents considering remuneration to be the biggest benefit.

Personal gain is a force for good? Last time I checked greed was one of the seven deadly sins. Has everything gone flippy floppy?