From Deal Journal:
Private-equity fund managers went out of business last year at the fastest rate since records began 10 years ago and another 150 firms are forecast to disappear this year.HT: peHUB who have some interesting comments.
People in the industry say the figures provide the first hard evidence that the private-equity business has peaked.
Data provider Preqin said 183 fund managers are now in run-off–when firms divest assets and make no new investments–more than double the 90 in run-off in 2009. Being in run-off is the private-equity equivalent of going out of business....MORE