May was a good month for returns from both equities and fixed income. Ongoing investor optimism about the economic outlook supported risk assets, with developed market stocks delivering returns of 4.5% over the month.
Regarding European M&A activity, we observed a general decline in deal volumes during Q1. Nevertheless, there was a significant rebound in April and May, suggesting a positive turnaround in overall M&A activity.
This month, we also had the pleasure of co-hosting the annual Value Square Awards with Value Square, EY, and Schelstraete Delacourt. Additionally, we successfully completed a transaction in the construction sector.
Sincerely,
The VDP team
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