How the UK’s economic malaise spurs more PE deals

 How the UK’s economic malaise spurs more PE deals

The UK’s so-called “Winter of Discontent” in 1978-79 is a period that lives in infamy for Britons. It was a time of ongoing fuel shortages and bouts of panic buying as a series of strikes gripped the country. At the time, some accused Prime Minister James Callaghan of being blind to the calamity. The Sun newspaper headline that famously lampooned his denial read, “Crisis? What crisis?”

Déjà vu, anyone? While strikes are no longer a factor, supply-chain snags certainly are. The gas station queues are back; so are the empty store shelves. And like Callaghan before him, today’s ever-upbeat Prime Minister Boris Johnson fails to share the nation’s collective sense of foreboding.

At least this time, however, the PM isn’t alone in his optimism. Private equity dealmaking in the UK has thrived amid this adversity, as a surge in buyouts marks a turning point for the asset class and its role in the British economy. For many investors, the…

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