New EU legislation could wipe out two-thirds of buyout industry

The chairman of Nordic buyout firm IK Investment Partners said that proposed regulation of the European private equity industry, if passed as it stands today, could wipe out between two-thirds and three-quarters of European firms.

"If it's implemented the way it was drafted today, two-thirds of us would immediately stop our activities," Björn Saven, chairman of IK Investment Partners said, calling the legislation "one of the biggest own goals" he's ever seen.

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