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The Winning M&A Advisor [Vol. 1, Issue 5]
Welcome to the latest issue of The Winning M&A Advisor, the Axial publication that anonymously unpacks data, fees, and terms…
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Yesterday, Andy Kessler penned an opinion piece in the WSJ about how “the glory days of private equity are over.” Although Mr. Kessler points to regulatory, tax, and macroeconomic developments as major challenges for the PE industry, he believes that the real reason private equity is nearing an end is because “It is fresh out of fat targets.”
But, does private equity really need “fat targets” to survive? His argument seems to overlook the importance — and size — of middle market private equity. Just because Airbnb and Uber are not viable PE candidates does not necessarily mean the investment strategy is approaching demise.
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This week in history… The US government acquires Alaska for $7.2 million (1867).
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