Private markets are less rewarding than they used to be

SUPERRETURN, A DAVOS for PE, held its annual bash in Berlin last November. One session on “Winners and Losers” went well, recalls Alex Koriath of Cambridge Associates, though “there weren’t really any losers to talk about.” A self-congratulatory air permeated the event. Nile Rodgers and his band, Chic, entertained buy-out bigwigs with their hit “Good Times”.