Banking appetite for lending to European private equity firms grew markedly in the first six months of this year to €8bn, a massive 329% increase on the same period last year, the European Private Equity and Venture Capital Association said today. The association also said that at €15.1bn the value of private equity buyouts in Europe in the first six months of this year was more than double the value of deals in Q1 2009.

Last year saw a dearth of private equity deals as banks pulled back from supplying loans in the aftermath of the financial crisis. Just $69bn was invested globally in buyout deals compared with over $150bn up to the end of the third quarter of this year, according to data provider Dealogic.