February 8, 2013
Interviewed by: David Snow
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Colombian Confidence

Philip Bass of EY shares a key finding of his firm’s annual Capital Confidence Barometer: Colombian respondents are comparatively bullish on their own economy and on the local M&A market.

Philip Bass of EY shares a key finding of his firm’s annual Capital Confidence Barometer: Colombian respondents are comparatively bullish on their own economy and on the local M&A market.

Privcap: Your recent Capital Confidence Barometer study included findings about the Colombian market. What stood out?

Philip Bass, EY: Well first and foremost, I think Columbia is a wonderful country with a great opportunity for private equity, and I think private equity’s interest in Columbia grow over the next couple of years. When we talk about the capital confidence barometer and really the overall assessment of the global economy, Colombia was no different than private equity as a whole or the 1500 participants as a whole. Generally, the view was little to no improvement over the next one to two years.

I think the one difference was that when we asked Columbia participants to look at the local market, it was very very positive. So the view of the local market was positive on Columbia. One of the key statistics, really a telling statistic, that was much different than the overall study was really 55% or so said they would do and M&A transaction in the next 12 months, which really is two or two and a half times what the overall study results are. So we’re really looking at a much more positive environment for Columbia, I would say, overall for the CCB, number two M&A being a big part of that. And we’re seeing that really across sectors.

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