One of private equity’s biggest challenges right now is getting money back to investors. Advent and Cinven have just made a small dent in the industry’s mountain of unsold assets by agreeing the sale of TK Elevator to Finland’s Kone Oyj. What a relief. But the deal — worth €29.4 billion ($34.4 billion) including assumed net debt — exemplifies the challenges buyout firms face as they monetize even their most attractive investments.
www.bloomberg.com
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A $34 Billion Private Equity Exit Is Going to Be a Long Slog
