Despite the recent travails of publicly listed private-equity firms such as Blackstone Group and Fortress Investment Group, many in the private-equity industry think more will inevitably go public. A little more than a year after going public, Blackstone is trading at around $18.44, well below the $31 IPO price. Fortress Investment Group is at around $12.88, below its IPO price of $18.50. Those results have led some to suggest that the public markets simply aren’t a good model for the long-term asset class of private equity. But when asked their opinion on the matter, almost everyone in the audience at the Private Equity Analyst Limited Partners Summit this week in New York, indicated by a show of hands that they believe private equity’s presence on public markets will only increase. And a panel of executives from publicly...
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