The Future of Private Equity
在2008年经济危机后私募股权行业衰退的背景下，通过分析供需的短期和长期决定因素，提出了该行业未来可能出现的四种情景，包括复苏、回归过去、有限合伙人撤离和行业崩溃。
Abstract After a period of robust growth, the private equity industry has experienced a marked decline. In the wake of the 2008 economic crisis, the future of the venture and buyout industries seems unclear. This speech discusses four possible scenarios for the future of the private equity industry by examining the short‐ and long‐run determinants of private equity supply and demand. Possible scenarios include Recovery, Back to the Future, The Limited Partners' Desertion, and A Broken Industry. Although support is given for each of the scenarios, a clear prediction for the future remains difficult. The future of the private equity market is likely to be the subject of debate for some time to come.