Burges, meanwhile, points out that no one has a crystal ball, making it difficult to predict how global markets will recover.
“International pressures will no doubt have implications for the German market. The deeply entrenched manufacturing sector and reliance on open borders and exports has meant an ever greater need to innovate and diversify. Adaptation and evolution have been absolutely key to Germany weathering the covid storm with local investors quickly pivoting business and investment strategies to adapt to these challenges.”
He adds that sectors related to technology have been at the forefront of change, driving the covid recovery. “Germany has become a springboard for tech development, and the pandemic has increased that tenfold. Hubs like Berlin and Munich bring in talent, spur innovation and attract local and international investment attention.
“It has been incredible to witness the volume of software solutions that have been developed in Germany alone, so there is a great deal to be optimistic about in those sectors.”
Burges is also positive about “areas where Germany has traditionally excelled – with sophisticated production and processes that are so deeply rooted in the country’s culture and ethos”.
To read the full roundtable with Private Equity International, click here.