Turns out I wasn’t the first to make the private equity/conglomerate connection. Back in April, the anonymous author of the blog Going Private (subtitled “The Sardonic Memoirs of a Private Equity Professional”) complained that private equity firms and hedge funds were getting too big and unfocused: Didn’t we learn in the 1980s that unfocused conglomerates [...]
I missed the breakingviews.com scoop last week on Carlyle Group co-founder Bill Conway warning his colleagues that private equity’s salad days are coming to an end. It’s very interesting: In a recent memo to Carlyle’s investment professionals obtained by breakingviews.com, Conway acknowledges the firm’s “fabulous profits are not solely a function of our investment genius, [...]
