Private equity can pull away from Wall Street - JMAGuilford -
In 2021, increased private equity dealmaking generated $19.5 billion in fees for investment banks, up 52% from the prior year, according to Refinitiv. Meanwhile, alternative asset managers have accumulated roughly $1.2 trillion in private debt assets under management, according to Preqin.
Private equity buyers have turned to direct lenders to finance an increasing share of buyouts, including Thoma Bravo’s $10.7 billion acquisition of software company Anaplan. Alternative asset managers had $176.2 billion in dry powder to deploy to various forms of direct lending as of Sept 30, per Preqin data.FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange in the Manhattan borough of New York City, New York, U.S., March 9, 2020.
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