One in 10 European leveraged buyouts could end up on the distressed market over the next two to three years, according to a survey by accountancy firms Grant Thornton and Latham & Watkins.

The survey, which canvassed the views of 110 senior lending bankers, managers of collateralised loan obligations, hedge funds and private equity executives, found 51% believe at least 10% of buyouts will be acquired by distressed debt investors in the next two years.