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This is partly a reflection of the low cost of debt over this period and also reflects the growing confidence in using leverage by this rapidly maturing industry," INREV Research Director Andrea Carpenter commented.
"However, as the credit crunch is setting in it will be interesting to see how far these averages fall this year.We are now hearing from fund managers and bankers that the balance of power is back in the hands of the lenders, who are closely monitoring performance and who add that managers with a short track record will find it more difficult to source financing," she added.
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INREV appoints Andrea Carpenter as Director Research and Market Information (NL) 31 Jul 2007