Changes in the American Private Equity Industry in the Aftermath of the Crisis

Xavier Mahieux ()
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Xavier Mahieux: Department of Finance, INSEEC, 27 avenue Claude Vellefaux, Paris 75010, France.

Comparative Economic Studies, 2013, vol. 55, issue 3, 517 pages

Abstract: The American private equity industry has been badly hurt by the financial crisis. After a short exuberant boom, it collapsed in 2008 and now faces three major challenges. First, the reduction of activity is sufficiently extensive that many general partners will be forced to quit the market. Second, investors are taking advantage of this situation to lower their costs and enforce better governance. Third, the industry is subject to regulations that seek to force it to be more transparent and may keep the largest players from taking excessive risks, especially in relation to the use of debt.

Date: 2013
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