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Hedge funds eye shift of EU power

Hedge funds and private equity firms are hoping a resurgent right wing in European politics will give them stronger support when they call for changes to proposed legislation they see threatening their industries.

The coalition of European conservative parties won a decisive victory in elections last week, taking over 260 seats in the European parliament compared with around 160 seats for its socialist rivals.

"We are viewing this quite positively," said Javier Echarri, secretary general of the European Private Equity and Venture Capital Association.

" are expected to be able to deal with financial regulation on a calmer basis with more understanding than the more emotional debate that we have seen in the parliament in past years," Echarri said.

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