Portfolio company valuations in the global private equity market remain at an elevated level meaning companies are having problems exiting their investments, according to Edwin Conway, global head of BlackRock Alternatives.
Portfolio company valuations in the global private equity market remain at an elevated level meaning companies are having problems exiting their investments, according to Edwin Conway, global head of BlackRock Alternatives.
Speaking to Bloomberg TV on Monday at the Milken Institute Global Conference in Beverly Hills, California, Conway said that while investor demand remains for private equity, he feels that valuations are too high. While smaller venture and growth-equity investments have been re-priced, according to Conway, he hasn’t seen this at the larger end of the market.
“The exits for private equity right now are hard,” he said.
BlackRock oversees $320 billion of alternative assets, while the firm manages more than $9 trillion overall in clients’ money.
