With private equity fighting rising deal valuations, and with record dry powder chasing too few attractive deals, Chris Leahy, co-founder of Blackpeak (Holdings), is of the view that vintages of PE funds maturing in the next five years are set to be much more challenging than the previous 5-7 years, during which a lot of more financial engineering was possible.
Leahy said valuations will continue to rise, and pointed out that the fallout may not necessarily be a market crash or correction, but a closure of some of the smaller PE firms.
