City Of London
Parts of Private Equity Look Like a Ponzi, Amundi CIO Says
- Vincent Mortier says private markets are in a ‘big bubble’
- Executive also says ‘good opportunities’ remain in industry
This article is for subscribers only.
Some parts of the private-equity market are beginning to resemble a Ponzi scheme, according to Amundi SA’s chief investment officer.
Vincent Mortier said in a virtual press briefing Wednesday that the volume of money raised in recent years by private-equity houses had driven up valuations and incentivized firms to buy assets from one another at inflated prices.