In 1997, real estate entrepreneur Eugene Gorab established Greenfield Partners, LLC. From a small firm of two employees in 1997, Eugene Gorab was able to grow the company into a firm recognized as a top-echelon private equity real estate investment company.
Despite the sudden economic uncertainties brought by the COVID-19 pandemic, a group of investors has remained calm because it has plenty of money with which to work. The data available with Preqin and Dealogic in February indicated that funds dedicated to the purchase of established companies such as venture capital and private equity have over $2 trillion in cash. This amount of money has just been raised from fundraising drives before the pandemic struck, and is readily available for investment. Fund managers holding these funds are on the status quo while the threats of the pandemic are still high. If governments can successfully hold the economies and societies for now, and if central banks can keep the financial systems intact and portfolio companies survive the economic turmoil, then, private fund managers can become the drivers of what is going to happen next to world economies. Private equity companies are in a better position now compared with the 2008 recession. During those times, private equity companies have invested a large amount of money in buyout acquisitions in 2006 and 2007, with nothing to spend after the 2008 recession. This time, private equity companies have large amounts of dry powder to leverage through the economic downturn brought by the pandemic.
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AuthorCurrently, Eugene Gorab serves as the President and Chief Executive Officer of Greenfield Partners, LLC, a company he founded in 1997. Archives
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