TY - JOUR T1 - Private Equity for Distressed Companies in Germany JF - The Journal of Private Equity SP - 55 LP - 62 DO - 10.3905/jpe.2004.450952 VL - 8 IS - 1 AU - Andreas B. Kucher AU - Matthias Meitner Y1 - 2004/11/30 UR - https://pm-research.com/content/8/1/55.abstract N2 - This article summarizes the characteristics and trends of private equity investing in troubled companies in Germany. The analysis shows a growing importance of distressed companies for private equity firms, mainly for traditional buyout funds. However, investment behavior seems to be increasingly risk averse since turnaround and buyout investors prefer a relatively stable economy, early stages of distress, qualified management, and better potential exit possibilities. Another finding is that restructuring strategies of investors in the fields of organization/management, products/services, and human resources do not depend on the causes of distress. ER -