Private Equity Builds $722 Billion War Chest in Hunt for Deals
- Executives say deal market is back ahead of expected rate cut
- Firms under pressure to return money to fund investors
Private equity dealmaking has picked up in recent months as more firms get comfortable deploying capital.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
The biggest publicly traded alternative asset managers have more than a half-trillion dollars to put to work — and they’re gearing up for a deals comeback.
Seven of the firms reported a collective $722 billion in dry powder as of June 30 — a 9% increase from a year earlier, according to earnings data compiled by Bloomberg. Now that the Federal Reserve is expected to cut interest rates, money managers have extra firepower to make deals again.