Opinion

Coy capital

There are ripe pickings to be made in this market, but some likely harvesters of the bounty are conspicuous by their absence.

01 May 2003

It may be a bear market, but that should be no reason to weep over the plight of those in the world of finance who long for a return to the days of fat fees and easy pickings. In this regard, the private equity profession is no exception.

Like normal fund managers, private equity managers earn their fees based on their ability to sell their investments at a profit. The difference is that their investments are typically unlisted, so they must make their profits through a private sale or by an IPO.

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