Okay, so most people know that down cycles tend to produce good vintages for funds, but it’s still nice to hear someone say it amongst the doom and gloom hysteria that seems to be dominating the press lately. Richard Sharp, former chairman of Goldman Sachs’ European Buyout arm, has gone on the record to say that he thinks 2009 and 2010 will be amongst the best years ever for Private Equity once deal levels return to normal. The cheap money may be gone, but valuations are beginning to return to sane levels. Which goes without saying is a very good thing.
Good News: Former Goldman Buyout Head Expects ‘Great Vintage’ Next Year