Deals
‘Peak’ Private-Equity Fears Are Spreading Across Pension World
- Conundrum for California fund giants who’d harvested premiums
- Decade of double-digit returns on PE has ended: Morgan Stanley
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Investors plowing cash into private assets may recall the words of Wall Street legend Barton Biggs: There’s no asset class that too much money can’t spoil.
One of the most fertile grounds for funds harvesting returns in a world of negative-yielding bonds and expensive public companies -- private equity -- is being swamped.