BERLIN — Private equity’s biggest annual gathering is called SuperReturn, but its returns haven’t been looking quite so super of late — leading the industry to urge investors to ride out the uncertainty.
At this year’s conference in Berlin, Germany there was a clear acceptance that a previously forecast 2025 boom in M&A and initial public offering activity has not materialized. And that is putting private equity — which ballooned following the Great Financial Crisis as an alternative funding source to risk-averse banks, now rivaling many of them for size — under pressure.
But panels and sideline discussions at the event showed plenty of fighting spirit, with some attendees defending against the narrative that dealmaking is drying up or that the public markets might be a better bet for returns. Many enthused about growth areas ripe for private equity backing, including European defense firms, undervalued mid-caps and Middle Eastern data centers.
The event at the Intercontinental Hotel hosted nearly 6,000 attendees this week, with headline keynotes from Carlyle Group Co-chairman David Rubenstein and Blackstone Vice Chair Thomas Nides. Tennis superstar Serena Williams and U2 frontman Bono were also among the speakers.
