Private equity firms are reportedly picking through the debris of the stock market’s recent tumble and looking for potential deals in the most beaten-down industries.
“These are fundamentally good businesses that are going to have a terrible year. There’s an opportunity for private equity to go in there and take a meaningful stake or buy the company at a valuation they could not have gotten before."
Banker at top Wall Street firm
The sector, which is led by Blackstone, Carlyle Group, and KKR, has a significant amount of dry powder, amounting to an estimated $1.5T in cash across the many firms.