Four out of five private equity executives expect to sell portfolio companies to "trade buyers" this year, suggesting there could be a reduction in controversial "pass-the-parcel" deals, which dominated investment activity in 2010.

According to a survey from Grant Thornton UK, the most anticipated exit route for private equity executives in 2011 was a sale to "trade buyers" with 80.5% saying they were likely to sell to corporates and other non-private equity firms.