Credit Agricole Private Banking has revealed to Bloomberg that it expects private-equity investments by its wealthy clients to more than double to as much as $5bn in the next three to four years.
Credit Agricole Private Banking global head of private equity Olivier Carcy said in an interview to Bloomberg: "Private markets, including private equity, but also real estate and private debt, are starting to be a very important asset class.
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He added that the deal activity in Europe this year should increase as credit is cheap and strains on the region’s economy mean that "the only way to grow is to buy other companies."
The bank plans to invest about $400m to $500m in private-equity deals this year besides increasing investments in private-equity for clients in Asia and will return about $300m to clients by selling out of earlier transactions.
Credit Agricole Private Banking will sell stakes in about 40 to 50 companies in Europe in 2015 and 20 to 25 more companies in the US.
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