Private equity firms that were once Wall Street’s disruptors have turned into its establishment, and are turning to a solution they know well: deal-making.
In the latest move, General Atlantic, known for taking stakes in fast-growing private companies, is buying Actis, which owns telecom towers in the Balkans and data centers in Chile. BlackRock, diving into alternative investments after years of false starts, is skipping right over pure-play private equity with its $12.5 billion acquisition of GIP, an infrastructure giant. That follows TPG’s deal last fall for credit and real-estate specialist Angelo Gordon. READ MORE