Kim Kardashian 捜し出すs secret of 私的な 公正，普通株主権 success as rising 率s bite
By Emma-Victoria Farr
BERLIN, June 8 (Reuters) - Reality 星／主役にする Kim Kardashian's arrival at a 集会 of the globe's 最高の，を越す 取引，協定 仲買人s in Berlin failed to 追い散らす their dark mood as the rising cost of money puts the ブレーキs on the 私的な 公正，普通株主権 産業.
側面に位置するd by 護衛s, Kardashian drew a （人が）群がる of hundreds of (n)役員／(a)執行力のあるs at the SuperReturn 産業 event, 説 she 手配中の，お尋ね者 to learn the secrets of 投資するing having 始める，決める up her own 基金 last year.
Talking about her ambitions, Kardashian, whose empire （期間が）わたるs skincare and underwear, sought what she called the "魔法 sauce" or special 質s of 創立者s of companies which her 基金, that has yet to make an 投資, could 支援する.
But 私的な 公正，普通株主権 is 現在／一般に experiencing one of its toughest runs since coming of age in the 1980s as 早い rises in 利益／興味 率s to 戦闘 インフレーション make the 負債 that underpins the 産業 不十分な and expensive.
More than a １０年間 of 激しく揺する-底（に届く） borrowing costs had 許すd 投資家s to snap up companies using 広大な 貸付金s before selling them on to other 投資家s, who were also ブイ，浮標d by cheap credit.
Now euro zone data shows that banks are turning off the credit taps after the European Central Bank raised 率s by the most in its 25-year history.
The value of 私的な 公正，普通株主権-支援するd 合併s and 取得／買収s in Europe stood at 概略で $46 billion in the five months to end-May, 負かす／撃墜する 74% from the same period of 2022, によれば data from Refinitiv.
The 科学（工学）技術 部門 has seen the most 取引，協定s globally, while 取引，協定s in healthcare reached $16 billion.
"It has been easier in the past, 取引，協定 flow is 減ずるd 意味ありげに...we have to pedal harder," said Jose Pf eifer, who leads Investcorp's European 私的な 公正，普通株主権 group, on the sidelines of SuperReturn.
Much of the 拒絶する／低下する in 取引，協定s can be せいにするd to slower 過程s and failed 処理／取引s, such as the 最近の abandonment of the sale of a 火刑／賭ける in Germany's Bundesliga マスコミ 権利s, 拒否権d after 対立 from its サッカー clubs.
However, there are pockets of hope "if 会社／堅いs 強化する their 有罪の判決 around the trajectory of 利益／興味 率s", said Hythem El-Nazer, managing director at TA Associates.
法人組織の／企業のs are also 運動ing some activity in Europe by 簡素化するing 大臣の地位s and selling 非，不，無-核心 資産s.
"Europe is doing better than 推定する／予想するd...we are seeing 適切な時期 in 法人組織の／企業の carve-outs," said Marco De Benedetti, co-長，率いる of Europe 私的な 公正，普通株主権 at Carlyle.
販売人s that do 勇敢に立ち向かう the choppy waters are 存在 more 隠しだてする than before with より小数の organising auctions, leaving 買い手s without （疑いを）晴らす 最終期限s and a 欠如（する） of visibility.
Emmanuel Laillier, 長，率いる of 私的な 公正，普通株主権 at Tikehau 資本／首都, said that makes it hard to read the level of 競争, although there is more 柔軟性 in the M&A 過程.
For example, 戦略の 調整s such as the sale of 少数，小数派 火刑／賭けるs and 持つ／拘留するing の上に companies for longer are 増加するing.
That could also give rise to new structures to develop companies for longer under 私的な 所有権, said Christian Sindig, CEO at EQT, 追加するing that public-to-私的な 処理／取引s will become a more 正規の／正選手 fixture.
Kardashian, though, kept her cards の近くに to her chest - all technical questions were directed to her 投資 partner, Jay Sammons. (報告（する）／憶測ing by Emma-Victoria Farr, editing by John O'Donnell, Kirsten Donovan)
