The greed and leverage boys are gathering in Berlin. Reuters reported:
Private equity-backed M&A deals more than doubled to a record $818.4 billion in the first nine months of this year, up from $315.2 billion last year, according to Refinitiv.The S&P private equity index, meanwhile, is up 43% so far this year, compared with a 25% gain in the benchmark S&P 500.
Shares of the biggest private equity firms, including Blackstone Group Inc, KKR & Co Inc, Apollo Global Management Inc, Carlyle Group Inc , and Ares Management, have surged as the U.S. economy rebounded with the easing of coronavirus restrictions.
The private equity industry's median internal rate of return was 33% as of March 2021, the highest on record, according to data provider Pitchbook.
PEU founders are the billionaires that must not be taxed.
At the annual SuperReturn International conference, attention is also expected to focus on the labour shortage facing numerous U.S. businesses - a worrying sign for many private equity-owned companies.
Employee raises fall in the same category as taxes and must be avoided at all costs.
The CEO of an automation business told Bloomberg that "people want to remove labor."
Corporate executives, a very small subset of people, want to remove labor.
SuperReturn is aided by preferred "carried interest" taxation. It clearly does not apply to workers.
