Traditional private equity firms continue to dominate the dealmaking environment, but an increasing number of firms that act as limited partners in private equity funds are looking to source deals directly. These players have been around forever, but their efforts are making more of an impression on the business than ever before. Mergers & Acquisitions convened a special roundtable to discuss the benefits and challenges associated with different investment strategies. Benesch, Friedlander, Coplan & Aronoff LLP sponsored the event, and the excerpted discussion that follows provides a range of perspectives from key players who are investing into companies using different strategies. Participants included a traditional private equity investor, a placement agent, a fundless sponsor, a pension plan investor with a direct investment and co-investment program, a family office investor who invests in companies directly and an attorney.
Fugazy (moderator): How has private equity changed over the years?