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As usual, private equity funds are getting creative in dealing with the challenging times. In fact, there are signs of a pick-up in the space (according to an in-depth piece in TheDeal).
Let's face it, private equity was a big engine of fees for Wall Street. For example, last year Goldman Sachs (NYSE: GS) snagged $1.5 billion in advisory fees for such deals.
But, as of now, the fee machine has come to a near halt. In fact, investment banking fees from private equity sponsors has plunged a staggering 77% in the first quarter of this year.
So, what to do? Well, interestingly enough, private equity firms are thinking small. That is, the deal size is likely to range from $1 billion to $2 billion. Such deals are much easier to pull off when there is a credit squeeze.
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