REBOOTED,

PRIVATE EQUITY AND THE GREAT COVID RESET

Private equity navigated many crises. But never like this.
On January 30, 2020, the most important players in private equity were gathered in Cannes as they closed the last edition of IPEM, a major event for the industry. The mood was high and the prospects were excellent. But as the celebration and business continued at la Croisette, WHO declared the emerging covid-19 outbreak in China an international public health emergency. In a matter of weeks, the entire European continent was placed under lockdown and a human drama started unfolding globally. A major test was just beginning for fund managers and their portfolio companies...

Private Equity under the Covid lens
As the pandemic rolls on, private equity firms become easy targets. Especially in the US and UK where the industry comes under the fire from media, politicians, and even pop singers! While some PE funds struggle to get access to government support schemes for their portfolio companies, Invest Europe publishes a report showing that PE firms now account for 5% of the European GDP and over 10 million jobs in the continent… Without a doubt, private equity is funding future growth, innovation, job creation and environmental transition. Yet, it needs to have a voice and to better advocate its role in the economy and society.

Taking on the mission
Once referred to as the « barbarians » of finance capitalism, private equity has been going through some deep cultural transformations in the last decades to become an agent of positive change – with ESG getting mainstream and impact investing experiencing a swift adoption in the industry. In this dramatic crisis, fund managers can well become the “white knights” that save the world. There are so many challenges ahead: rising inequalities and social discontent, growing environmental issues, geopolitical tensions… and an economy to reboot! How can private equity play its part in the world after?

Dedicated website: https://www.pe-rebooted-movie.com/

Director: Anne-Charlotte Rouxel-Oldrà

Executive Producer: O2B Films

Client: IPEM

Broadcast: online

Release year: 2021

Running time: 33 minutes