Private Equity and the "Bubble of Money"
Apr 22, 2026•by Davide Caprioli
What You Need To Know
Private equity’s excess capital has not disappeared with rising rates. It has simply become harder to deploy, harder to exit, and more dependent on secondaries and longer hold periods, setting up a market where the real test will be how firms adapt to a more constrained environment.
Stephen A. Schwarzman is the Chairman, CEO, and Co-Founder of Blackstone, the world’s largest alternative investment firm.
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