Leveraged buyouts were already challenging because of a run-up in equity valuations and regulatory curbs on leverage, so the recent volatility makes it even more difficult for private equity to put money to work.

Steven Kaplan

Steven Neil Kaplan is the Neubauer Family Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business. He started teaching at the business school in 1988, and was named Neubauer Professor in 1999. He is also the Faculty director of the Polsky Center for Entrepreneurship, at the University.

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