23
Jun
Inbound M&A into the UK: Access, appetite and approval
As global investment regimes become more fragmented, cross-border M&A into the UK is increasingly shaped by regulatory divergence, foreign investment screening and execution complexity rather than pure geopolitical alignment. The UK continues to position itself as open to international capital, yet heightened national security reviews and evolving regulatory expectations are influencing deal timelines, structuring and buyer confidence. This panel will evaluate how international investors are navigating the UK market today, where cross-border appetite remains strongest, and what acquirers need to succeed.
- How do international buyers judge the UK’s attractiveness and predictability relative to other major markets?
- How are national security and FDI screening shaping deal selection, structure and timing for foreign‑led transactions?
- How do inbound acquirers approach deal structure and risk allocation in the UK compared with other markets?
- What practical regulatory, cultural and market‑structure hurdles do inbound acquirers face, and how can they be mitigated?
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SpeakersBen Turner Partner Shoosmiths
Adnan Khalef Managing Director The Carlyle Group
Dwayne Lysaght Co-Head of EMEA Investment Banking J.P. Morgan
Jean Roche Fund Manager Schroders
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Ben leads Shoosmiths’ national Corporate team, which advises on M&A, private equity and venture capital transactions. He works closely with high‑growth businesses, entrepreneurs and private‑equity‑backed corporates across sectors including technology, consumer, financial services and national security.
Since joining Shoosmiths in 2013, Ben has led on complex cross‑border transactions and strategic restructurings. Recent highlights include advising the shareholders of Fosroc on its $1bn+ disposal to French industrials group Saint‑Gobain, Heligan Private Equity on its investment and fundraising programme, and household brands such as Waterstones and Peloton, as well as a US‑listed software business, on UK and cross‑border acquisitions.
Adnan Khalef is a Managing Director on the Carlyle Credit Opportunities team, focusing on structured capital investments across equity, hybrid, and debt instruments. He is based in London.
Prior to joining Carlyle, Mr. Khalef was a Vice President at TPG Sixth Street Partners (TSSP) in London, where he worked for four years. During his tenure at TSSP, Mr. Khalef principally focused on making structured equity and debt investments to fund M&A, growth, and balance sheet solutions. Prior to that, Mr. Khalef was an Analyst in the Financial Sponsors and Leveraged Finance team at Credit Suisse.
Dwayne is Co-Head of EMEA Investment Banking with Alberto Piana. Prior to that that he was Co-Head of EMEA M&A and before that was head of Corporate Finance and M&A for J.P. Morgan Cazenove. He joined J.P. Morgan in 1996 after graduating from University College Dublin with a joint honours degree in International Commerce and Spanish.
Dwayne started his career in the UK and Ireland M&A Team before becoming Staffing Officer for the London Advisory Group in late 2002. After 15 months as Staffer, he joined the EMEA Healthcare Team, focusing on pharma and medtech coverage. On establishment of the J.P. Morgan Cazenove joint venture, Dwayne re-joined UK&I M&A running the business until 2019 when he took on his current role.
Dwayne has worked on over $600bn of transactions across a variety of deal types, industries and geographies.
Jean is a UK small and mid-cap fund manager at Schroders since 2016. She is lead manager of investment trust Schroder UK Mid Cap plc. Jean joined the City on the Morgan Stanley graduate programme in 1999, earned the CFA designation and became an award-winning sell-side equity analyst. She has also worked for the UK Government, including HM Treasury. Jean is a mathematician by training and speaks fluent French. She was appointed to the Code Committee of the UK’s Takeover Panel in 2024.