January 30 - Financial News Online (U.S.) - The chairman of one of the world's largest alternative asset managers has welcomed the current slowdown in deal activity as a correction not a crisis and expects the driving forces behinds private equity's growth over the past 20 years to continue.
Louis Gerstner, chairman of The Carlyle Group and former chief executive of computer maker IBM, credit card company American Express and tobacco-to-food conglomerate RJR Nabisco, said: "We are in a welcome period for private equity. Capitalism is not a steady state but goes to extremes and...after excesses have built up...we needed to see a correction. The media and government might have converted this state to a 'crisis' but it is not that." Read More.
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