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Private equity is about continuous dealmaking. But, with the wrenching credit crunch, activity has been horrible.
So, what to do? Interestingly enough, it looks like some of the top private equity operators are signing up for board duties.
Look at GM, which this week announced five new members to its board. In fact, three of them are from major private equity firms: The Carlyle Group's Daniel Akerson, S. J. Girsky & Co.'s Stephen Girsky and TPG's David Bonderman.
What's going on here? True, private equity has taken quite a few lumps over the past couple years. For example, Bonderman lost a bundle on his Washington Mutual transaction (which was one of the worst private equity deals in history).
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