Notable News in Private Equity March 2021

A monthly email providing news from the world of private equity.

Notable Notes ..."More is lost by indecision than wrong decision. Indecision is the thief of opportunity. It will steal you blind." - Marcus Tullius Cicero

“Every age has its peculiar folly; some scheme, project, or fantasy into which it plunges, spurred on by the love of gain, the necessity of excitement, or the mere force of imitation.” -Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds, 1841

Continuation funds: How GPs are holding on for longer |... When Audax Group raised $1.7 billion for its so-called "continuation fund" in January, it joined a growing list of PE houses that have started creating liquidity by buying their own portfolio companies. Boston-based Audax's new vehicle bought... Read more pitchbook.com Opinion | The Biden stimulus is admirably ambitious. But ... President Biden's $1.9 trillion covid-19 relief plan, added to the stimulus measure Congress passed in December with the incoming administration's strong support, would represent the boldest act of macroeconomic stabilization policy in U.S.... Read more www.washingtonpost.com Opinion | Wrong Stimulus, Wrong Time Democratic economist Larry Summers and former GOP Senator and economist Phil Gramm don't agree on much. But when they do, it's probably worth paying attention. Now they're both warning that President Biden's $1.9 trillion spending plan may carry... Read more www.wsj.com

Opinion | Welcome to the Era of Nonstop Stimulus When President Obama's last Treasury secretary, Jack Lew, made the extraordinary claim that the Obama economic recovery failed because Washington "stopped [spending] too soon last time, and fiscal tightening after 2010 slowed the recovery" it... Read more www.wsj.com Opinion | What Inflation Debates Miss: Inflation Something extraordinary is breaking out at the moment: a debate about inflation. The trigger is the $1.9 trillion stimulus bill President Biden and Capitol Hill Democrats intend to ram through on a party-line vote. The sum is so outlandish it's... Read more www.wsj.com

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