Listed private equity stocks have rallied three times more strongly than the UK’s FTSE All Share index since bottoming out in March, indicating that confidence in the sector is returning and an increasing belief that an "Armageddon" has been averted.

The LPX UK index, which tracks listed private equity stocks, has risen 47% since March 25, compared to a 16% rise in the FTSE All Share index. The LPX Europe index has risen 46.5% in the same period.