Dealmakers are increasingly redirecting capital toward Europe, a shift attributed to mounting uncertainty over U.S. trade policies. This trend is exemplified by the recent £2.7 billion sale of London-based financial advisory firm Evelyn Partners. Private equity firms Permira and Warburg Pincus agreed to sell the business to NatWest in February, a transaction that drew significant strategic interest.
Advisory firm Lincoln International identifies U.S. tariff volatility as a primary driver pushing investors to evaluate European assets more favorably. The stable regulatory environment and compelling valuations in markets like the UK are creating a relative safe haven for capital. The Evelyn deal demonstrates how this macro calculus is shaping specific transaction outcomes.
For Permira, the sale process revealed a deeper pool of strategic buyers than initially anticipated, with the final price reflecting that heightened competition. The transaction provides a clear benchmark for mid-market financial services exits in the region and signals that quality assets can still attract premium offers despite broader geopolitical headwinds.
Source: PE Hub · Summarized by HeadlinesBriefing