The credit crunch has put a serious crimp in the dealflow of all the private equity firms that raised multibillion-dollar funds over the last two years, which has left
Blogging Buyout's Jon Ogg wondering where all the layoffs are.
Ogg wrote:
We've been digging around for the the coming layoffs at private equity firms to get a good handle on just what the economic downturn and credit crunch will mean to all the B-School kids who wanted to be the next multi-millionaires and billionaires. While no hard numbers are out industry-wide yet (at least that you can hang your hat on), there are actually some things trickling out.
While buyout shops are unlikely to trumpet layoffs, stories of firms letting people go have been few and far between, which could be an indicator that the industry thinks the worst of the crunch is over and dealmaking will return. Or it could be that when you've got a few billion dollars in capital commitments you can afford to hold onto the young up-and-comers, even through tough times.
The credit markets and the state of dealmaking for buyout firms will be front and center at The Deal's Private Capital Symposium on May 14. Featured speakers include Kenneth D. Moelis, chief executive officer of Moelis & Co., and Tony James, president and COO of the Blackstone Group LP, and the conference will feature panels on financing options, sovereign wealth funds and the middle market. - George White
See Blogging Buyouts post
See more on The Deal's PC Symposium
