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Andy Kessler: The Glory Days of Private Equity Are Over

Too many funds are chasing too few opportunities, and many of those will be too expensive. It won’t end well. Private equity is done. Stick a fork in it. With Kraft singles and Heinz ketchup as toppings, there are many signs that private equity has peaked as an asset class. Sure, private equity is pervasive, which is one of its problems. According to Dow Jones LP Source, 765 funds raised $266 billion in 2014, up 11.7% over 2013. Ever since David Swensen, the investment manager of the Yale University endowment, almost 30 years ago began

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Posted: March 29, 2015 Sunday 04:45 PM