Adapting to a Challenging Environment: The Outlook for Private Equity

Posted By: Karen Fisman and Peter Yuan

Are we in a private equity bubble that is about to burst?   A recent Wall Street Journal article considers this question in light of increased stake sales, bigger funds, and record levels of investment capital. “Is it a bubble? My answer is no,” says one fund manager, whose view is shared by many of his peers.  In fact, despite some challenging industry dynamics, PE fund managers interviewed in the WSJ article and for a recent Prequin report share an optimistic outlook for investment activity. 

We were curious about the Canadian PE viewpoint, so we spoke with Michael Wagman, a Managing Director at Clairvest, James Merkur, President of Intercap, and Darrell Pinto, Research Director of the Canadian Venture Capital and Private Equity Association (CVCA), to get their insights. Like many of those interviewed for the WSJ article and Prequin report, all three held cautiously optimistic views.   

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