The private equity dealmakers of the boom years have been shifted off the front pages. As the market shows signs of recovery, the US firms are challenging the established order
As private equity comes blinking into the light after a torrid couple of years, advisers are grappling with a new market, where leverage is a dirty word and once mighty European buyout houses look distinctly off colour.The recession has seen the continued investment by US firms into the London market. Kirkland & Ellis and Simpson Thacher & Bartlett have all made significant moves on the back of the growing dominance of their US clients in Europe, including KKR, The Blackstone Group, Bain Capital and Advent International. Boston firm Ropes & Gray, Bain Capital’s go-to adviser in the US, has also highlighted its intent, launching a London office under finance duo Maurice Allen and Mike Goetz.
