It took a few mistakes before Stephen A. Schwarzman skyrocketed. Once, a single miscalculation rippled its way through an entire deal book. Decades later, he invested $330.0 million in a company that collapsed within months—which resulted in a 100% loss. These...
The last couple of years count as only the third time in history when private equity-backed acquisition values, measured as a multiple of cash flow, have exceeded valuations in global stock markets, according to Bain & Company. Previous manifestations of this...
Offense is the new defenseAgainst a challenging backdrop of low growth and geopolitical uncertainty, we believe “offense is the new defense” in private markets investing. We seek opportunities to build resilience instead of buying it by focusing on assets with value...
To attract new capital, private equity professionals often emphasise their firm’s operational excellence, focusing on operations-related improvement initiatives, their portfolio companies’ corporate governance mechanisms, culture, organisation, and long-term...
Private equity managers won the financial crisis. A decade since the world economy almost came apart, big banks are more heavily regulated and scrutinized. Hedge funds, which live on the volatility central banks have worked so hard to quash, have mostly lost their...
