As recession looms, private equity expects more restructurings and few-er investment opportunities • Sector survey: the vast majority of investors expect impairment of their portfolio companies' performance, says sector survey • Torsten Grede, Spokesman of the Board of Management at DBAG: “Portfolios are protected by solid balance sheet structures and diversi-fication” • Buy-and-build gains further importance Frankfurt/Main, 17 January 2020 – The private equity sector is worried about the performance of its portfolios in the face of an impending recession and ex-pects more restructuring work for 2020. This is according to a recent survey conducted amongst investment managers at more than 50 private equity firms active in Germany. The firms are polled every six months by FINANCE maga-zine about trends in the German private equity market, on behalf of Deutsche Beteiligungs AG. The survey also showed that a more sombre economic envi-ronment is weighing on the deal flow. The question now is: is the sector better prepared this time than it was in 2009?