Gerstner puts a happy face on private equity
If Lou Gerstner were an emoticon, he would not be the smiley face. But he has put a happy face on the woes of the private equity industry. The chairman of the Carlyle Group says that the current downturn is a correction, not a crisis, according to Financial News Online. That said, the firm will be focused on its fairly extensive portfolio of companies in the upcoming year. He also noted that the firm has a lot of cash to put to work, about $30 billion. He suggested that some of that might find its way to the developing world, where deals may be more plentiful.
For more:
- here's the Financial News Online article
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