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A Wall Street investment chair warns the private-equity industry is relying on the same 'pillars of value destruction' that caused major problems in the dotcom era

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Ignacio Jayanti of Corsair Capital says private equity is threatened again by two 'pillars of destruction' that caused harm in the dotcom era.

Ignacio Jayanti, managing partner at Corsair Capital and chair of its investment committee, says the private-equity landscape today is threatened by two flaws that helped bring it down after"From the perspective of value destruction, the twin pillars of overleverage and technology were the problems of that era, from a private equity investing perspective," he told a panel audience at the recent."Where we sit today, that could well be the same two pillars of value destruction.

The comparison to 2001 is a particularly problematic one. While the activity of Corsair — which has invested $8 billion to date — is focused on the financial-services industry, the dotcom era showed stress in tech can spoil the entire market.

 

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