When Worlds Collide: The Altered State of Private Equity—A Conference Summary (Special Issue)
What a difference a year had made. Speakers at last year’s conference had noted the beginnings of financial dislocation and a rapid increase in risk aversion. However, no one could have foreseen the subsequent near collapse of the financial system, the breathless succession of dramatic market events, government interventions on behalf of so many large institutions, and the wide range of special government programs. Despite these events, private equity funds are still robust and are playing a new role as part of the recapitalization of the banking industry.