Markets
The Secondary Market Becomes the Exit
Private funds promised distributions on a timetable that stopped being met. The secondary market has grown from a distressed corner into the mechanism by which investors get money back at all.
Private Equity
Tagged stories
Health
Nobody Asks Who Owns the Practice Until Something Goes Wrong
Independent physician practices have been bought at scale by hospital systems, insurers and investment firms. Patients are largely unaware, and the ownership determines more than the medicine does.
Business
The Rollup Comes for the Plumbing Business
Private capital has spent three years buying HVAC, plumbing and electrical contractors at multiples the trades have never seen. The thesis is sound, the integration is harder than the model assumed, and the second wave is arriving at higher prices.