Private equity bites off mostly what it can chew

New Relic

17/08/2023 17:20

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Jonathan Guilford
       NEW YORK, Aug 17 (Reuters Breakingviews) - KKR, GTCR and
others are clawing out of a deal bust with modest aims. A recent
spate of sub-$2 bln buyouts, including ones involving Simon &
Schuster, Avid and ADT, speaks to the trend. It’s a good way to
stay active, but a $1 trln hoard of capital can’t sit unspent
indefinitely.
    Full view will be published shortly.
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    CONTEXT NEWS
    Private equity deal volume in the first half of 2023 slumped
63% from a year earlier, to $294 billion, its lowest level in
four years, according to a June 26 Reuters report, citing
Dealogic data. 

 (Editing by Jeffrey Goldfarb and Sharon Lam)
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