Glenn Hutchins: PE May Be On Cusp of New "Golden Age"
NEW YORK (Reuters) - The near collapse of the global financial system, which wiped out trillions in corporate value and personal savings, may be giving way to a new "golden age" for private equity investment, Silver Lake Co-CEO Glenn Hutchins said in an interview on Tuesday. Private equity firms suffered badly when debt markets seized up as a result of the crisis and banks did not want to lend increasingly scarce capital. Only just recently have credit markets started to unfreeze. "The financial markets may be on the cusp of a new 'golden age' for private equity," Hutchins, who is also a co-founder of the firm, told Reuters. Hutchins, the co-founder of the $13 billion private investment firm, cautioned that while there has been a significant stock market rally, the economy is showing stable, though not robust, growth.
