If US private equity group Carlyle is scaling back investment in the UK ( report, November 6), then it is swimming against a strong tide.

The UK has been one of the best-performing merger and acquisition markets of the five largest European economies since the Brexit vote in June 2016. The number of announced deals for UK targets in the third quarter of 2018 was 32 per cent higher than in the third quarter of 2016, a higher rate of growth than Spain, Italy, France and Germany. France and Germany, the two countries that supposedly have the most to gain from investors turning away from the UK because of Brexit, are down 63 per cent and 24 per cent respectively over the same period. Investors are voting for the UK.

Philip Whitchelo
Vice President, Strategic Business & Corporate Development,
Intralinks, London EC4, UK

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