In Context: Credit Lines and Private Equity

I recently read a Bloomberg article titled, “Buyout Firms Are Magically — and Legally — Pumping Up Returns.” It is about vehicle-level leverage creeping into the private equity business. Here, I share some related thoughts for consideration. Early on, limited partners (LPs) allowed general partners (GPs) to arrange for small lines of credit (backstopped by […]

Private Equity Activity Trended Downward in 2016

Download PDF In the Winter edition of Private Markets Trends, I discuss the major themes of 2016 and the outlook for this year and beyond. Last year company investments and exits trended downward for both buyouts and venture capital, compared to 2015. But overall levels are high by historical standards (except for IPOs). And private […]