Private Equity: The Nature of the Beast

Private equity money has backed some of the largest and most audacious M&A deals of the past decade, but now that the flow of credit has slowed to a trickle and covenants are tightening, the days of blockbusting management buy-outs (MBOs) are over. Nevertheless, $23.1 billion was raised by UK funds in 2008; there is still plenty of activity in the mid-market, and distressed assets may present some good-value acquisition opportunities. Criticaleye Members convened at this Discussion Group chaired by Simmons and Simmons' Arthur Stewart to build this guide to private equity, and establish how to navigate through the belly of the beast.