September 21 - NY Times Blog - Blackstone Group President Hamilton James is sounding guardedly upbeat about the state of the private equity industry, which is in a semi-frozen state these days because of turmoil in the credit markets.
Speaking at the Dow Jones’ Private Equity Analyst conference in New York, Mr. James said the private equity market will likely bounce back in the coming months, albeit to the slower pace of deal-making activity it saw three or four years ago, as opposed to the breakneck pace of the last few years. Not long after he spoke, Cerberus Capital Management announced the $2.1 billion buyout of a paper company, a development that one private equity executive called “encouraging.”
“It will take a while to get back to full volume,” Mr. James said Thursday. Meanwhile, he added, “We’re putting out just as much money as before the meltdown began — and at higher [projected] returns.” Read More.
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