Recent data from Preqin shows a record amount of "dry powder" in the private equity market, suggesting hesitation amongst fund managers to transact.
Private equity partner Jason Freedman spoke with Law360 about the existing transactions, sharing that "things are picking up, but probably not as much as people would hope" given there is still "a backlog of assets." "Things are moving, but it tends to be the high-quality assets," he said.
In the same piece, private equity partner Minh-Chau Le provided observations on the tension between this reluctance and less-than-ideal valuations. "Returns are not what people are expecting, and sponsors are patient and smart — they don't want to monetize assets while leaving money on the table," Le said.
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