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Private Capital Posts sponsored by:
The Deal's Fifth Annual Private Capital Symposium wrapped up Wednesday with the keynote interview of Hamilton "Tony" James, the president and COO of the Blackstone Group LP, by The Deal senior writer David Carey. Looking at the overall buyout industry, James said, "I think it'll be a very slow recovery [for leveraged debt]. Yet, having said that, the credit markets have already gotten better. There's a perception on the part of the lenders that the worst is over."
"Since the meltdown in June 2007, we've committed to a dozen deals for about $4.5 billion in equity, with about half of [those deals] in Asia," said James. "That run-rate alone would be enough to justify a $20 billion fund. We can't actually raise a big enough fund to justify our level of activity." James attributed his firm's dealflow to the breadth of its investment strategy. "We're a megafund, but we don't depend on megadeals," he said. "Less than 30% of the deals in our last fund were in megadeals." - George White See Private Capital Symposium agenda CategoriesPrivate capital video
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