Axios Pro Rata: Private equity's no-lose scenario
Plus, Elliott finally gets Citrix. | Monday, January 31, 2022 Open in app View in browser Axios Pro Rata By Dan Primack · Jan 31, 2022 Top of the Morning Illustration: Shoshana Gordon/Axios As the financial crisis was unfolding in September 2008 , a top buyout executive was nonplussed. He told me that his firm could invest at a discount if stocks went down, and had long enough time horizons that it wouldn't be forced into fire sales of existing portfolio companies. And banks would work to avoid debt defaults. It was arrogant. It was self-serving. It was largely correct. Fast forward to 2021: Private equity isn't worrying about stock market losses or the coming Fed rate hikes. All systems are go, and arguably in overdrive. Again, buying opportunities abound. Just look at today's BFD for ...