More than a third of investors in private equity investments expect to reap at least the same returns in the next five years that they enjoyed during the boom years, despite the lack of debt in the market that has brought the large buyout industry to a standstill.

Data provider Preqin has revealed that 36% of respondents to a survey expected to see the same returns in the next five years as they experienced over the previous five. It said that a further 6% are even more optimistic, expecting returns to be up to 500 basis points better, while another 3% of respondents expected returns to improve by more than 500 basis points.