Gran Via in central Madrid, Spain, Europe. Photo: AFP

Private equity groups have to look harder to find large packages of distressed debt, as the vestiges of the financial crisis have largely disappeared. The Financial Times reported that many are looking farther afield to markets such as Spain and Italy, and are looking beyond property at non-performing loans in sectors such as small business. Deloitte research showed that while debt package investment had declined in Ireland and the UK, other European countries are seeing growing interest.