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As fus\u00f5es e aquisi\u00e7\u00f5es tiveram um primeiro semestre de 2022 excecional em Espanha e na maior parte da Am\u00e9rica Latina. A in\u00e9rcia permitiu a manuten\u00e7\u00e3o de posi\u00e7\u00f5es recorde durante todo o ano na maioria destes mercados, mas o ritmo abrandou em todos at\u00e9 parar algures entre julho e dezembro do ano passado. Na altura, foi considerada uma paragem t\u00e9cnica tempor\u00e1ria e at\u00e9 positiva, mas com o passar dos meses, o nervosismo tamb\u00e9m est\u00e1 a aumentar.\u00a0<\/span><\/p>\n O mercado parte do princ\u00edpio de que a paralisia continuar\u00e1 at\u00e9 que a visibilidade macroecon\u00f3mica seja restabelecida e a subida das taxas de juro veja o seu fim. No entanto, nesse compasso de espera, os grandes fundos n\u00e3o perderam tempo. Investiram e atualizaram as suas carteiras, incluindo as suas \u00faltimas aquisi\u00e7\u00f5es, e est\u00e3o \u00e0 espera do tiro de partida porque ningu\u00e9m quer ficar para tr\u00e1s. A maioria dos intervenientes e especialistas do setor j\u00e1 prev\u00ea que 2024 poder\u00e1 ser novamente um ano recorde para o investimento.<\/span><\/p>\n \u00c9 consensual que a recupera\u00e7\u00e3o n\u00e3o ocorrer\u00e1 em simult\u00e2neo em todos os pa\u00edses, nem prosseguir\u00e1 ao mesmo ritmo nos respetivos setores e segmentos de mercado. Tamb\u00e9m \u00e9 verdade que uma parte significativa do atual abrandamento dos investimentos pode ter sido devida ao facto de as previs\u00f5es dos \u00faltimos doze meses terem sido bastante mais pessimistas do que a realidade. Olhando para o \u00faltimo semestre, o crescimento na maioria dos pa\u00edses europeus foi muito mais forte do que o previsto e os pre\u00e7os da energia melhoraram acentuadamente.<\/span><\/p>\n Entre os especialistas e analistas, existe um sentimento generalizado de que a economia come\u00e7a a aproximar-se do \u00faltimo ponto de viragem, atr\u00e1s do qual n\u00e3o haver\u00e1 mais uma retoma, mas sim uma perspetiva de crescimento alargado onde cada fundo pode procurar as suas melhores oportunidades. A maior parte das empresas de capital privado j\u00e1 reconhece que entrou neste novo cen\u00e1rio, embora tamb\u00e9m concorde que, pelo menos at\u00e9 ao final do ano, ter\u00e3o de continuar a ser extremamente seletivas.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" [et_pb_section bb_built=”1″ inner_width=”auto” inner_max_width=”none”][et_pb_row][et_pb_column type=”4_4″ custom_padding__hover=”|||” custom_padding=”|||”][et_pb_text _builder_version=”4.4.8″ text_text_shadow_horizontal_length=”text_text_shadow_style,%91object Object%93″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length=”text_text_shadow_style,%91object Object%93″ text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength=”text_text_shadow_style,%91object Object%93″ text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length=”link_text_shadow_style,%91object Object%93″ link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length=”link_text_shadow_style,%91object Object%93″ link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength=”link_text_shadow_style,%91object Object%93″ link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length=”ul_text_shadow_style,%91object Object%93″ ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length=”ul_text_shadow_style,%91object Object%93″ ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength=”ul_text_shadow_style,%91object Object%93″ ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length=”ol_text_shadow_style,%91object Object%93″ ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length=”ol_text_shadow_style,%91object Object%93″ ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength=”ol_text_shadow_style,%91object Object%93″ ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length=”quote_text_shadow_style,%91object Object%93″ quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length=”quote_text_shadow_style,%91object Object%93″ quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength=”quote_text_shadow_style,%91object Object%93″ quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length=”header_text_shadow_style,%91object Object%93″ […]<\/p>\n","protected":false},"author":4,"featured_media":76981,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[88],"class_list":["post-59034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ideas"],"acf":[],"yoast_head":"\n