Private equity executives expect the turbulence unleashed by the UK’s poll-defying vote to leave the European Union to create opportunities to snap up companies at lower prices, although dealmaking activity could take a short-term hit as market participants take stock.

The referendum results sparked turmoil in the markets on June 24, with sterling plunging to a 30-year low against the dollar, while UK and European stocks also declined, with the FTSE 100 index down 4.4%, Germany's DAX down 6.8% and France's CAC40 down 8.4% by around midday.